PRESS RELEASE

IDEA Studio

“Idea Studio Nepal” is a non-profit company which provides encouragement and opportunities to those who aim to transform new ideas into socially-conscious enterprises. The Idea Studio is collaboration between academia, the private sector, and the media and development sectors. With core values such as knowledge creation, social justice, social innovation, investment and promoting human dignity the Idea Studio which is now in its second season has helped to foster employment in the country by providing assistance, resources, mentoring and investment.

How does the Studio work?

Ideas are encouraged from all over the country. There is an initial short-listing process after which innovators with the most feasible ideas (the 30 best ideas) are selected for mentorship at the Incubation Center at University School of Management (KUSOM). Business leaders as well as KUSOM professors and students work with the selected innovators to assess their needs and support them through assistance with Academic and other resources, developing proposals, and finding investment.

The Ideators are supported by Idea Studio even after they are matched with seed funding with a monitoring and evaluation system that continues to evaluate and measure their financial and social impact.

Innovators present their ideas on National Television for an opportunity to partner with business leaders. Ideas that are chosen for investment by business leaders and financial institutions via the television show will then be further developed and implemented.

Idea Studio welcomes and supports raw ideas, startups, or ideas that require expansion or huge investment and has no barriers regarding age, literacy level, and income.

Idea Studio Season 1

“Idea studio season 1” a nationwide programwhich started on June 26th 2014was the joint initiative of Childreach Nepal, UNICEF Nepal, Kathmandu University School of Management (KUSOM),and Meeting Point.

The television program, which was broadcast on both Nepal Television and Himalaya Television, was narrated by celebrities includinglegendary actors and social activists Madan Krishna Shrestha and Hari Bansha Acharya; Nepal’s singing nun and UNICEF Nepal’s National Ambassador Ani Choying Dolma; Paras Khadka; CEO of Mega Bank Anil Shah; and internationally acclaimed Taekwondo player Deepak Bista. Public Service Announcements(PSAs) were also used to urge Nepali citizens to bring their unique ideas to “Idea Studio” and help ignite social change.

Idea Studio’s first season has been very successful and beneficial in providing hope and aspiration topotential entrepreneurs by urging them to come forward with ideas that can help solve social issues within their local communities.Most importantly, it has encouraged the Nepali people to stay and invest their skills and ideas in Nepal itself.

Success stories from Season 1

Manindra Aryal; one of the Ideators says “Idea studio was the perfect platform to unleash my passion for electronics and expand networks with business and IT pioneers”. When the entire nation was gripped by the massive earthquake, business guru Mr. Bal Krishna Joshi had asked Manindra to make solar lights that help could solve the problem faced by people living in tents.Impressed with Manindra’s work, Mr. Joshi invested with him to make 500 such light bulbs.

Another Ideator ShivaRam Poudel shares his story: “I started my free highway toilet project in Dharke before I joined Idea Studio, but was financed at a very high interest rate. This experience has helped me expand my contacts a great deal and I have also learned alternative ways to raise funds”.Looking at Shiva Ram’s potential,Panchkanya group has offered him building materials to construct his next projects which will be a great help to him. He now has a toilet site in Jugedi, Chitwan and looking to start on in the Far West region of Nepal as well.

Anil Basnet from Metro Tarkari says “I was looking to expand my online groceries retail business. We had to make deliveries to our clients on motorbikes and scooters which placed a lot of limitations on our operations. Thanks to Idea Studio I was able to get a collateral free loan to purchase a van and manage working capital which has helped us to operate much more efficiently. Idea Studio not only helped us expand our network but also provided us with opportunities to collaborate with like minded individuals and businesses”.

Idea Studio Season 2

After the success of Season 1 the Idea Studio team is ready to launch Season 2 with the objectives to:

 Ignite: In the context of Nepal where most of the population feels that there is no opportunity for gainful employment, Idea Studio acts as a perfect platform. It raises awareness among people regarding the potential business environment, changes people’s mindset regarding entrepreneurship, and provides an opportunity to turn their idea into reality. Idea Studio also allows its chosen Ideators to pitch their ideas on national television.  Incubate: Idea Studio, with the help of business gurus and respected members of Nepal’s academia, will provide mentoring and consulting services to the Ideators based on their needs so that they can become successful entrepreneurs.  Invest: Idea Studio helps to create networks between the Ideators and the investors. After a series of mentoring services, if business gurus like the Ideator’s plan they provide required resources, invest in the plan and support theIdeators instarting their own ventures.

The ideators can submit their ideas starting 18th May 2016 to Idea Studio via website www.ideastudio.org.np , email [email protected] , P.O. Box No. 376. Inquiries can be made by phone 5520374 / 5527977. The idea submission ends on 30th June 2016.

Quotes: Dr. Tshering Lama (Country Director,Childreach Nepal): “Idea Studio is an innovative approach in knowledge creation and sharing.” Ujjwal Krishna Shrestha (Chief Executive, Panchakanya Group) “Idea Studio has changed the lens through which Nepali entrepreneurship is seen to something that is innovative and exemplary.” Manindra Aryal (Ideator): “Idea studio was the perfect platform to unleash my passion for electronics and expand networks with business and IT pioneers.”

ShivaRam Poudel (Ideator): “This experience has helped me expand my contacts a great deal and I have also learned alternative ways to raise funds.”

Anil Basnet (Ideator): “Thanks to Idea Studio it not only helped us expand our networks but also provided us with opportunities to collaborate with like minded individuals and businesses.”

For more information, visit: www.ideastudio.org.np www.facebook.com/ideastudionepal www.twitter.com/ideastudionepal - ENDS – Press contact: Gaurav Kandel –Program Coordinator, Idea Studio Nepal (9803039750) [email protected] Aakriti Acharya- (9841460763) Jiten Shrestha- (9808660387) For further information: Dr. Tshering Lama Chairperson, Idea Studio Nepal [email protected] 9802000350