Kathmandu, March 13 -- The government of Nepal has introduced the first amendment to the Industrial Enterprise Regulation, aiming to promote startups by defining their status and providing legal recognition. The amended regulations, published in the Nepal Gazette on Monday, introduce several provisions to support the startup ecosystem.

How does the government define startups?

Under the new amendment, businesses registered for over 10 years will no longer be classified as startups. A startup loses its status if its annual transactions surpass Rs150 million. The industry ministry is empowered to implement policies, plans, and programmes to foster startup growth. An Industry Protection Centre will be established to support and coordinate t...