Kathmandu, Dec. 3 -- The government's concessional loan scheme for innovative startups has ignited massive interest, drawing an unexpected flood of applications from across the country. The Industrial Enterprise Development Institute (IEDI) received 10,244 project proposals after opening the call, far exceeding expectations.For the Fiscal Year (FY) 2025/26, the government has earmarked Rs 730 million to support innovation through low-interest loans. The scheme's 3 percent interest rate has proven to be a major attraction for aspiring entrepreneurs. From the more than 10,000 applications, the IEDI plans to shortlist around 500 eligible projects for funding.

The surge in applications shows just how strongly the startup culture is taking ro...