Nepal Round for She Loves Tech is taking place on the 22nd of August, Thursday. Seven innovative start-up ideas will compete against each other, and only one will get the opportunity to represent themselves and their country in the Global platform. The start-up that wins Nepal round will enter The Global Competition where women-led tech start-ups from 20 nations compete against each other. The stakes are high as the National Winner gets a fully-funded trip to Beijing where they receive an opportunity to attain mentorship from industry experts at boot camp, network with China’s leading tech players, and visit leading companies of China. The winner also moves a step closer to winning $15000 equity-free cash prize, including other investment opportunities. In order to prepare the start-ups for this journey, a two day-long Boot Camp was organized by Unlimited Ventures, who are the main organizers for She Loves Tech in Nepal.
The Boot camp was held on 19th and 20th of August where the seven start-ups were mentored by experts in the field of Emotional Intelligence, Investment, Law, Marketing and Consumer Behavior. The program emphasized the importance of Entrepreneurship and power of technology to solve some of the pressing Global Challenges. The Program Director of She Loves Tech Nepal addressed the crowd by saying “Everyone is focusing on Entrepreneurship powered by technology to resolve the crisis at national and global level, be it water crisis of India or human resource crisis of Nepal.”
Moreover, The eight companies to receive the talks in the boot camp are harnessing the power of Clean Energy, Ed-tech, Fin-tech, Big Data, and Customer Tech to find innovative solutions and to create an impact on the society in their on ways. These early-stage start-ups include Walkman Green Coins, Up-cycle Nepal, Digital Nepal, Neema Education Foundation, Eloi Token Finance, Sueno Technology Nepal and Gadget byte Nepal.
Tenzing Sonam Gonsar from TEAM Ventures, a sector-agnostic Private Investment Company that works with high net worth individuals was the first speaker of the boot camp. He prepared the start-ups to understand “What Investors Want?”, and how Investors can in fact add value to the company through management, networking and financing opportunities. Mr. Tenzing focused on two core fundamentals that investors use to evaluate an investment opportunity. He broadly classified them into Soft Side Evaluation- that evaluates “What are you like an entrepreneur”, “ Are you confident, but humble?’’, “How professional are you?”, “How do you communicate?’”, “ How well do you know your product?’’. And, Hard Side Evaluation or Solid Business Side which evaluates: viability of a product, cost of manufacturing, pricing details, market competition , competitive strategy and risks. Mr. Tenzing also spoke about “The risks of falling in love with your product or service” and how this love haze can be dangerous for the future of the company.
Similarly, Mr. Sagar Raj Satyal, from My Emotions Matter was the second speaker of the Boot Camp. Mr. Satyal emphasised on the crucial role that emotions play inside the company and how important it is especially for start-ups to understand their emotions and that of people around them, and to handle interpersonal relationships judiciously and empathetically. His session included half a dozen “Silly Questions’’ as he says, to assist participating entrepreneurs in calibrating their own emotional intelligence.
Lastly, Mr. Pushkar Sharma was the last speaker for the two day long boot camp. He spoke about the pitfalls that tech based start-ups are likely to fall into. “Do not just make something, because you can,’’ he says, “It is equally, and more so, important to recognize the problem that your product or service is trying to solve, the target audience, value addition ?” He also spoke about what is Value and its fluid nature, and how value can be created in multiple ways for multiple audiences. Mr Pushkar Sharma elucidated on this idea by discussing various case studies ranging from Axe deodorants to Baba Ramdev and Yoga.
In the National Round, the start-ups will get 5 mins to pitch their start-up , where they will be judged on five criteria : Size of the market and target market segmentation, Pricing Models, Team and Team Backgrounds, Product Innovation, and Traction of enterprise till date. Start-ups will get 3 minutes for questions and answers.
Article by Shambhavi Singh