Highlights from Clock b Business Innovations’ Innovation IDs

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Highlights from Clock b Business Innovations’ Innovation IDs

Nepali startups and entrepreneurs are often criticized for simply replicating ideas and business models from abroad and applying them to Nepali market that is clearly unique with its own unique problems. These imported ideas and business models are only half measures to solving local problems, and they leave tremendous market gaps and opportunities for Nepali entrepreneurs to come up with genuine Nepali solutions to the country’s problems.

On November 16th and 17th 2016, Clock b Business Innovation hosted Innovation IDs in order to explore ideas and innovations truly unique and tailor-made for the Nepali market. Innovation IDs brought together various industry leaders, business icons and social figures who shared their experiences and opinions on the current situation of the Nepali market, the gaps prevalent in the Nepali market and where they think the Nepali market is heading in the future. The two-day event was attended by 500+ people which mostly included entrepreneurs and business students

Here are some keynotes from various speakers in the event:

 

Dilli Raj Joshi

Dilli Raj Joshi, Director of Clock b Business Innovations, stressed on the importance of developing Nepali businesses based on Nepali problems, and he stated that copying foreign ideas wouldn’t get today’s Nepali entrepreneurs far.

 

Suraj Vaidya

Suraj Vaidya, President of VOITH (Vaidya’s Organization of Industries & Trading Houses), assured all the entrepreneurs present that growing a business in Nepal is much quicker than in other countries. He argued that foreign markets are oversaturated that businesses find it difficult to achieve exceptional growth. But in Nepal, he observed that there are so many market gaps and opportunities present that Nepali businesses can grow faster through innovative Nepali solutions.

Expressing his excitement to speak to the youths, Vaidya pointed out that innovation and creativity was inside everyone, but stressed that success can only be achieved by those who have the courage to adopt innovative ideas and the discipline to implement them. He revealed that many business houses are looking for innovative ideas and investment opportunities, while also expressing his desire to bridge the gap between innovative ideas and the investment required to implement them.

 

Arnaud Collery

Arnaud Collery, world’s first Chief Happiness Officer from Standup for Passion, stressed on certain mindsets necessary to nurture and drive innovation. He encouraged the audience to connect with themselves and the people around them in order to accelerate the desire and passion inside themselves. Collery stressed that feeling empowered and trusted is necessary for people to be creative, innovative and happy. Therefore, he pointed out that a good work environment, an organized work setting and autonomy to team members are three key elements in driving innovation in any team.

 

Ranjit Acharya

In the segment ‘Open Innovation’, Ranjit Acharya, CEO of Prisma Advertising, detailed why he believes that Nepal is a treasure trove of opportunities and how innovative entrepreneurs can make most of the innumerable market gaps present in Nepal. His nine-point power presentation on “Why Nepal?” included:

  1. Problems = Opportunities
  2. Low saving habit = Better market because of more expenditure
  3. Young population = More exploration
  4. Exploration = Higher trial rate
  5. High trial = Need gaps arise
  6. Small market = Importance of word of mouth
  7. Active society
  8. Sandwiched country = Bigger opportunities
  9. Job creation = Bigger platform and public relation

 

Acharya, through these points, reinforced the belief in every true Nepali entrepreneur that Nepal can achieve exponential growth through the problem they solve and the enterprise they grow.

Acharya also explored why it is necessary to view problems through various perspectives in order to turn them into opportunities, why branding is key to any product or service and why entrepreneurs should put themselves in their customers position to better satisfy them.

 

Amrit Gurung and Kiran Shrestha

Amrit Gurung and Kiran Shrestha, the musical-management duo behind Nepathya and Nepalaya respectively, recounted their experiences and learnings that have made them one of the biggest Nepali musical acts ever. Gurung shared stories of how his musical journey stuttered to a halt early on in his career because of lack of proper management. It was not until Shrestha and his management skills had come along that Nepathya started gaining the respect, popularity and success that it is known for today. Their stories exemplified how management and innovation are required in any profession, including ones like musical and theatrical arts.

 

Shekhar Golchha

Director of Golchha Organization, Shekhar Golchha, expressed his concerns on how the youths of today are disappointed and disheartened by the country’s current situation. He pointed out that with a 3 Crore population (mostly consisting of young adults) and a 1.2 Crore internet population, there are abundant opportunities in Nepal for those who are innovative and determined enough to take them. He advised all entrepreneurs to base their businesses on their brands and technology to drive growth.

 

Highlights from Day 2

On Day-2 of ‘Standup for Passion’ session, six people from various backgrounds shared their stories of passion, which aimed to help the audience find and pursue passions of their own. The session was moderated by Standup for Passion’s Arnaud Collery. The speakers included businessman and venture capitalist Sushil Neupane, banker Raveena Desraj Shrestha, veterinarian Dr. Pranav Raj Joshi, actress Nisha Adhikari, former Nepali cricket team captain Binod Das and Buddhist teacher Dolpo Tulku Rinpoche.

From how something as simple as earning respect for your parents can ignite passion to preparing for passion, and from following your passion to how love and compassion is needed to sustain that passion, these six speakers shared heartfelt anecdotes, personal struggles and life-altering moments and realizations. Each speaker received rapturous applause of appreciation and gratitude for their stories and for standing up for passion.

Clock b Business Innovations’ Innovation IDs ultimately showed the real desires of Nepali entrepreneurs and startups to breakthrough from the norm and strive towards a more innovative and customer-centric startup community. However, discussions at the two-day event pointed towards a consensus that understanding the Nepali market and market research are major prerequisites for developing any innovative solution. Also, most speakers agreed on the fact that courage, passion, determination, discipline and adequate investment are essential for any innovative idea to succeed.



 

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