Reflection on TBC Startup Fest 2023
The British College Incubation Centre organized 3 days of startup fest under the theme of Impact, Innovation and SDGs on July 21,22,23. TBC Startup Fest is an opportunity for students from around the country to present their entrepreneurial ideas and compete for prize money to invest in their startups. The competition started on the 21st July with 50 students from colleges around Nepal pitching their ideas and ten of these were then chosen for the finals.
The teams presented a dynamic range of business ideas that focussed on innovation, impact, and sustainable Development Goals (SDGs), and at the end of the day three teams were announced as the winners. In third place, securing 50,000 NPR was Team “Bio-Enzyme”, with their innovative bio enzyme cleaning products; in second place, winning 75,000 NPR was “Team Harvest Grow Investment” who focussed on recruiting investors for the Nepali farming industry; and then in first place was “Composting the Expanded Polystyrene (Styrofoam)”.
The team, led by Radhik Thapa, put forward their business idea to recycle and reuse styrofoam using mealworms as a process of decomposition. As well as winning 1 Lakh investment money, this team, along with all of the other winners, now have full access to TBC’s Incubation Centre, which will give them invaluable support in growing their businesses further.
British College as an academic institution firmly believes in the potential of the startup ecosystem and their commitment to nurturing the next generation of entrepreneurs. This was received very well by the participants for the experience they got throughout the event. One aspect that truly stood out was the clarity of expectations set right from the application stage. It was evident that the participants came well-prepared and fully understood the mission of TBC Startup Fest 2023 – to foster innovation, impact, and alignment with the Sustainable Development Goals (SDGs). This ensured that every interaction and pitch carried the essence of purpose and social responsibility.
Speaking of pitches, the elevator pitch was a game-changer. It forced the participants to focus on the most critical aspects of their business ideas, making the presentations crisp, engaging, and impactful. The Q&A session of the final day with all three judges asking questions simultaneously was a unique and effective approach that provided a comprehensive assessment of each idea's feasibility and potential.
Our esteemed mentors played a crucial role in shaping the participants' ideas and strategies. Their wealth of experience, constructive feedback, and genuine passion for nurturing talent left an indelible mark on every aspiring entrepreneur. We owe them a debt of gratitude for their unwavering support and commitment.
The impact of TBC Startup Fest 2023 was not confined to the event alone. The leads generated, the potential supporter onboarded, and the team formation witnessed during the fest have sown the seeds for a thriving startup ecosystem.
In addition to celebrating the achievements of our participants, we also had the privilege of hosting distinguished keynote speakers, Prof. Tim Gocher and Dr. Pukar Malla. Their profound insights, inspiring stories, and dedication to social impact left an indelible impression on all who attended the fest. Tim Gocher's commendable work through The Dolma Foundation and Dolma Fund Management and Dr. Malla’s Daayitwa in Nepal showcased the power of entrepreneurship in driving positive change along with environmental concerns.
The TBC Incubation Centre now stands as a testament to our commitment to nurturing and supporting innovative startups beyond the event. This center will undoubtedly serve as a catalyst for transformative ventures, leading to sustainable development and positive impact in Nepal and beyond.
As we bid farewell to TBC Startup Fest 2023, let us carry forward the spirit of innovation, collaboration, and purpose. The memories created and the connections forged during this event will continue to inspire us as we work towards creating a brighter and more sustainable future.
To everyone who contributed to the success of TBC Startup Fest 2023, TBC extends deepest gratitude and admiration. Your passion, dedication, and unwavering belief in the potential of our startup ecosystem have left an indelible mark on all of us.
Here's to a future filled with endless possibilities and impactful ventures!