Daayitwa Enterprise Challenge, Palpa 2014
Daayitwa Enterprise Challenge 2014
The Daayitwa Enterprise Challenge, 2014 was conducted in Palpa District in collaboration with our local partner NGO Innovation Action Palpa (IAP). The focus sector for this challenge was on agriculture, tourism, and IT. A team of 11 local community leaders visited all 65 VDCs of Palpa in 3 weeks period during the month of May to find applicant entrepreneurs for the challenge. 112 applications were received from 35 VDCs. Most of the applications were from agricultural enterprises and some were related to tourism and hospitality. During the first phase of the challenge, out of 112 applications, 20 were pre-screened based on the evaluation of their written application. Out of those 20 pre-screened entrepreneurs 10 were shortlisted (6 via SMS voting, 2 via Facebook voting and 2 via joint evaluation by Daayitwa and IAP). In the process, more than 20000 SMS votes were received from the district and more than 4000 votes were received from facebook from more than 40 countries. In the final round, a jury panel selected the top 5 winning entrepreneurs by conducting field visits of the 10 enterprises. The jury comprised leaders and experts like Krishna Gyawali, Secretary Ministry of Industry; Dr. Pukar Malla, Senior Research Fellow, Harvard Kennedy School; Dr. Mahabir Pun, Founder Nepal Wireless; Rukmani Maharjan, Micro-finance Head, NMB Bank; Anand Bagaria, Managing Director, Nimbus; and Binod Shrestha, Professor of entrepreneurship at KUSOM.
The winners were announced at an event hosted on June 22nd, 2014, at Srinagar Hotel in Tansen, Palpa. Post selection of top 5 entrepreneurs, there are three levels of awards. In the first stage, each of the 5 winners received Rs. 50,000. After 4 months of thorough evaluation of their work, 3 of the 5 entrepreneurs received an additional Rs. 1,50,000 each. In the final level of award distribution, the top performing entrepreneur received an additional Rs. 3,00,000. Top 20 entrepreneurs will receive some training support and all 5 winners will also receive training, mentorship and networking to further grow and sustain their enterprises.
Daayitwa Enterprise Challenge 2014 was supported by Nepal Investment Bank Limited and Walk for Nepal Youth Innovation Fund. More than 800 global Nepalis participated in Walk for Nepal in 4 cities (Boston, Dallas, Washington DC and London)
On July 10th 2014 first installment of the challenge prize Rs 50,000 was provided to the top 5 entrepreneurs. Similarly, in order to train the top 10 entrepreneurs with proper understanding of their business and to improve their strategic thinking for scaling up their business a Business Model Canvas workshop was conducted. The workshop was also conducted individually for the selected 5 entrepreneurs at their enterprise site in order to create a monitoring and evaluation framework that would be used for the next round of selection process.
Various enterprise specific technical workshops and general management and leadership workshops have also been planned for the entrepreneurs and members of IAP for the month of August. Under our Rural Enterprise Service, 15 MBA students from Kathmandu University School of Management (KUSOM) worked with the selected entrepreneurs for three weeks to help develop their business plan and marketing strategies.