KATHMANDU: Working on an inn-ovative idea in a competitive economy is a difficult task. However, two US returned graduates decided to take the risk and start a new venture. Abhinab Basnyat and Vidhan Rana established Biruwa Ventures Pvt Ltd in August, 2011 to facilitate young Nepali entrepreneurs to fulfil their dreams of starting their own ventures.
As the country was going through a difficult political phase, many people were sceptic about them heading back to Nepal. Basnyat shares, “But we believe that there is a solution to every problem — and that solution creates opportunities. For example, in recent years, water scarcity in Nepal gave rise to numerous businesses that offered solutions.” Echoing similar sentiments, Rana says, “Starting a company and creating opportunities is far better than working abroad. It’s a great accomplishment to be able to assist people in implementing their ideas into business.”
Biruwa Ventures provides an entrepreneurial atmosp-here for individuals to interact, and the platform to share and nurture their ideas
into sustainable ventures. The company also provides consultation services, mentorship and financing for would-be business people. The company wants young entrepreneurs to take the lead and start their own business. However, starting a new business means taking a risk and the duo have come to realise that people refrain from taking risks here.
“Half of the young pop-ulation want to go abroad and the rest want to work for established organisations for image and money.
Although they are very talented and skilled, un-willingness to take risks is very unproductive for young minds and a major challenge for us,” shares Rana. “Starting a business and helping people is difficult in a country like ours. A simple task of registering a company is frustrating. However, we take up this challenge and carry out all the necessary official processes involved in opening a new business for our clients,” Basnyat informs.
Speaking about the comp-any’s success, Rana says, “Biruwa was only established last year and we will succeed when the young
entrepreneurs we mentored are able to lead successful business enterprises.” Currently, Biruwa Ventures has provided spaces for six different offices in the same building and already interacted with more than 100 clients since its establishment. The company also plans to open its branches, not only in the capital but also outside the city.
Biruwa Ventures’ initial investment was Rs 500,000 and because it is yet to get returns on their investment, both the partners are also
involved in other organ-isations to sustain the business — Basnyat is volunteering at Kiva.org, while Rana is associated with
Whittaker Associates Nepal. Despite the slow progress, the duo believe that returning to Nepal and contributing to the nation’s economy was the best decision they ever made. The friends are even more enthusiastic now that they have been joined by Administrative Assistant Ankit Rana, also a US-returnee, who is responsible for the comp-any’s overall management and functioning.