New ventures and innovative business ideas - A growing culture and need

Financial capital and human capital are two strong pillars in modern day business. Nepal has been through big transformations over a decade. With the shifts incurring from technological breakthrough, innovations like Artificial Intelligence has brought lot of mobility inside the global village. Mobility comes from our resources which mean human resource, financial resources, information, expertise, management and time. Despite the fact that we are creating wealth by using these resources but the question remains have we put the money we make into use or not. Our challenge is in the area of using the right-mind set to a certain set of skills from an entrepreneurial perspective. Different skills sets are required to handle the responsibilities of business which has to compete internationally also. So human capital is also crucial and managing them is as mandatory as managing the financial capital.

Entrepreneurs see a potential which may not be visible to others. For a startup of any venture you need a creative spark, it doesn’t matter if it is small scale business idea because each new venture has a life span with risks but the sustainability and survival of that business or an idea is determined by its innovative strategy. Implementing innovation is the only way to increase the competitiveness of goods produced and seek a high rate of growth and dividends. First we must use knowledge for implementing new ideas and technology, then we must consider the socio-economic impact during the conversion of ideas into goods and services. Innovative concept covers many interdisciplinary facades of education, science and technology, management, economics, it is altogether collective effort.

Today financial institutions are showing big interest through seed investments and funding in a new venture because successful commencement means high returns on equity. Another side of the story is entrepreneurs go out on their own rather than staying employed to have more control, aim to start something from scratch instead of well-established company and for financial autonomy and opportunities. In Nepal, we have many new small and medium ventures or enterprises who have become a successful market leader after facing rough times and have become more stable and lucrative in the Nepalese business environment. It has also open doors to many new ventures and have shown them the baby steps towards a rewarding career opportunity and economic progress of a nation. A skilled and efficient human capital can contribute to a large extent on creating innovative solutions for the present and to the upcoming generations. Just as Rome was not built in a day, new ventures also requires to be nurtured so that on a given time it can reap lots of benefits. So, long live entrepreneurship with successful outcome and if you are one who think can make a difference be prepared to invest and formulate an idea that brings with it harvest of abundance. Thrive into this world of information where an idea can change life, after all it is part of regeneration.