NAS-IT and USAID Trade & Competitiveness signed a Letter of Cooperation to formalize their collaboration. The letter outlines the joint efforts of both the parties to assist each other in achieving their respective organizational goals, including hosting public-private dialogues and supporting initiatives for the growth of the IT industry in Nepal.
The first members meet of the Nepal Association for Software and IT services companies (NAS-IT) was a resounding success, with representatives from some of the country’s most prominent tech firms gathering to discuss the future of the industry. Almost all the founding members attended the meet and had the chance to network with their peers and share ideas on how to drive innovation and growth in the rapidly-evolving tech landscape. The event served as a powerful testament to the potential of Nepal’s tech industry and the critical role that NAS-IT is poised to play in shaping its future.
The “Policy Summit 2023” was jointly organized by the National Planning Commission and USAID T&C, along with participation from prominent private sector organizations like CNI, FNCCI, FNCSI, FWEAN, HAN, and NBA. Amidst a gathering of distinguished voices, NAS-IT shared its views on the policies that could help build Nepal as an IT hub. While acknowledging the sector’s immense potential, it also highlighted many challenges and hurdles in the political and legal fronts that need to be addressed for global expansion in the tech sector. NAS-IT’s presentation delved on various requests for policy amendments such as allowing Nepali tech companies to open their subsidiaries and joint-ventures abroad, reducing the FDI minimum investment to under $20,000 and creating a fast-paced FDI approval process, prioritizing local companies while procuring software for government agencies, etc.
NAS-IT, in collaboration with Nepal Private Equity Association (NPEA) and USAID T&C, conducted a Private Equity Information Sharing Session. This session empowered the NAS-IT members with the knowledge and information to explore new investment horizons. This event spurred insightful discussions to harness the potential of private equity and venture capitals to propel their ventures to new heights.
Virtual Open House : Learn About NAS-IT was an informative session where NAS-IT shared the association’s visions, plans, membership procedure, and benefits. It was an interactive session that helped NAS-IT pave its future plans through the valuable inputs and feedback provided by the participants. The session served to validate the establishment of the association.
To ease financial access to its member companies, NAS-IT signed an MOU with Kumari Bank Limited (KBL) to provide collateral-free working capital loans to its members. Under this partnership, NAS-IT members will have access to a working capital loan facility of up to Rs. 10 million without the requirement of collateral. By alleviating financial constraints, this collaboration aims to empower member companies to explore new horizons and innovative opportunities.
NAS-IT members came together to address the pressing challenges within the IT industry. The Leadership Dialogue : Redefining NAS-IT’s Objectives, a platform for all the members to share their pressing challenges, served as a platform to refine the organization’s objectives and collectively shape the future of IT companies in Nepal. Inspirational insights were shared, and a vision for a thriving IT landscape was crafted. Together, NAS-IT is poised to drive progress, innovation, and sustainable growth in our industry.
The Annual General Meeting (AGM) centered around the presentation of the annual report, audited financial statements for the fiscal year 2079/80, and forecasted budget. As NAS-IT members reflected on the association’s journey, they applauded The newly elected board was announced during the event in the presence of the NAS-IT members.
NAS-IT facilitated an enlightening industry visit for the participants of ICT Award 2023, representing startups from all corners of Nepal. The visit featured guided tours and insightful discussions at four leading NAS-IT member companies: CloudFactory, inGrails Pvt. Ltd., Logpoint, and TechKraft Inc. As the participants of the ICT Awards 2023 learnt about the hurdles and success stories of these companies, they were inspired and encouraged to make a mark of their own in the Nepalese ICT sector.
NAS-IT in partnership with Ikebana Solutions organized a remarkable event in Tokyo, Japan, where Nepali IT professionals residing in the country came together to connect and network. The meet up was a resounding success, reinforcing the sense of community and collaboration among the Nepalese IT diaspora.
NAS-IT and NYEF Kathmandu Chapter united their efforts through a momentous collaboration, formalized by the signing of MOU, aiming to drive the progression of Nepal’s promising tech landscape. One of the six objectives of NAS-IT is “Innovation and entrepreneurship” and this collaboration serves as a progression towards achieving the objective.
NAS-IT representatives presented its membership proposal at the Exco Meeting at the Asian Pacific ICT Alliance Awards (APICTA) 2023. NAS-IT is pleased to share its official confirmation as a proud member of APICTA, signifying a major milestone as Nepal becomes the 17th member economy in this esteemed regional alliance. This membership opens doors to a number of opportunities for NAS-IT and its members, fostering networking with industry leaders, enabling knowledge transfers, and positioning it on an international stage.
