Photo: TRN Officials and entrepreneurs during the inauguration of the Nepal Startup and SME Conference.

Entrepreneurs have said that Nepal could generate over Rs. 1 trillion annually if it focuses on producing skilled IT professionals.

Speaking at the Nepal Startup and SME Conference, organised by the Nepali Congress in Lalitpur on Thursday, they asserted that even a small investment in the Information Technology (IT) sector could yield significant results.

Speaking at a panel discussion on 'Entrepreneurship and workforce development: Preparing for the IT sector' organised on the second day of the conference, Sulabh Budhathoki, Head of Innovative Nepal Group, emphasised the vast opportunities in Nepal’s IT sector and the need for investment in workforce development. He stated that if Nepal could produce skilled manpower as per industry demand, the country could export IT services worth over Rs. 1 trillion annually.

"We are currently working to develop skilled human resources. We are lobbying to ensure that IT education is easily accessible in every IT college without quota restrictions," he said.

Budhathoki further said that IT has already surpassed tourism as the world’s highest revenue-generating sector so the government must introduce open policies to support startups. Over Rs. 125 billion has already been invested in the IT sector in Nepal.

Practical education should be promoted, and students completing Grades 11 and 12 should have a clear pathway to IT education, said Budhathoki.

He also stressed the importance of adopting a positive mindset towards challenges. According to him, opportunities arise from challenges. If young people can think critically, embrace challenges, and turn them into opportunities, launching a startup is not as difficult as it seems.

Professor Dr. Mahananda Chalise, Dean of Tribhuvan University, said that there is a need for the government to prioritise technical education along with business knowledge. Meanwhile, he also stated that TU is continuously working in this direction.

"The government introduces policies, but they do not address the challenges of integrating students into technical education.

It is essential to design curricula that incorporate technical and vocational skills and ensure their practical implementation," he said.

Likewise, Bibhushan Bista, founder of Young Innovation, pointed out that if the government formulates policies supporting the IT sector, Nepal could produce five times more skilled professionals than at present, significantly increasing service exports.

According to him, problem-solving skills and a capable workforce are crucial across all industries. "Classroom learning and practical application are different. Real learning happens when knowledge is implemented in the field," he said.

"Entrepreneurship is a mindset. The difference between an entrepreneur and an ordinary person is that while an ordinary person sees a problem, an entrepreneur sees an opportunity and works to solve it," said Bista. However, unless an entrepreneur executes an idea, its value remains zero. Entrepreneurship must be integrated into education, but starting a business should not be limited to those who formally study entrepreneurship, he added.

Karvika Thapa, CEO of Kimbu Tech, stressed that selecting a field of personal interest is key to succeeding in a startup.

"Developing skills is essential to becoming an entrepreneur. One should focus on areas where they have expertise and put in the effort accordingly," she said.