Babal Challenge 2024

Event Flow

"Nepal has enormous resources, and we need entrepreneurs who appreciate and mobilize them to solve our socio-economic challenges. "

Narottam Aryal, President at King's College

Frequently Asked Questions

What is Babal Challenge?

Babal Challenge, curated by Tyrosoft and King’s College, emerges as a dynamic innovation and idea generation platform aimed at instilling a vibrant entrepreneurial spirit among aspiring entrepreneurs and college students. Alongside that, we are also trying to cultivate a culture of alternate investment. In the span of one month, this transformative initiative invites participants to channel their ingenuity into crafting unique and profitable business ideas and seek to start their investment journey taking a small step at a time. Investments do not have to be hefty, you just need to start. Beyond a conventional challenge, the program unfolds as a holistic experience, featuring mentorship sessions that serve as guiding lights through the intricate landscape of business development and know-how of alternate investments. The zenith of this transformative journey culminates in a challenge period, where participants bring their ideas to life, navigating the practical nuances of entrepreneurial endeavors, while some start their investment journey.

When is the program happening?

The program is scheduled from 25th Feburary 2024 to 6th April 2024.

Who can apply in this program?

The program is focused for aspiring entrepreneurs and college students who are able to commit full-time during the entire program. You can either choose to participate as an entrepreneur or an investor based on your inclination. The participants must be able to attend sessions, meetings, and events physically whenever necessary.

Who will run the program?

The program will be organized by Tyrosoft and King’s College, and the sessions will be taken by experienced facilitators who will empower you and will provide you with the tools to turn your questions into answers.

I am currently studying in school. Can I apply?

You must have at least completed +2 and must be able to fully commit to all the sessions and meetings as required.

I passed +2 last year / a few years ago but have not joined Bachelors yet. Can I apply?

Yes, you can apply if you meet all other criteria and you must be able to fully commit to all the sessions and meetings as required.

What will happen in the 28 days challenge period?

If you are selected for the challenge phase, you will have 28 days to further work on your ideas, and generate profit. You will have to attend progress update meetings every 5 days. Regular monitoring and mentoring will be given from our side whenever needed.

Can I apply in a team?

Yes, we are seeking for ventures/ideas with team of two to five members. The challenge will be conducted in teams. So, it will be beneficial if you already have a team.

Can I apply if I already own a business?

Yes. You can apply if you already own a business.

I don’t have any ideas as of yet but I am really interested in learning and meeting people who I can team up with. Can I apply?

No. For this program, we are seeking for inspired youths who have some sort of ideas and can develop a MVP (Minimum Viable Product) quickly.

Do I have to pay to participate in the program?

No, the program is free and we are looking for genuine and dedicated participants.

What do I get from the program?

You will get sessions on various topics from our experienced facilitators and you will be able to generate ideas to develop your business. After that, if your idea is selected, you will be given a matching fund up to NPR 20,000 based on the quality and need of the venture. Matching fund means, you must keep the same amount that you will require as your kickstart fund. For example: If you feel that you need 20K to kickstart your business, you will have to contribute at least 10K inorder to be eligible for the kickstart fund. You will work on your idea for 28 days and multiply it as much as you can.

I am currently employed. Is this workshop for aspiring entrepreneurs only?

No. You can still apply if you are employed and meet all the other conditions.

What can I use the kickstart fund for?

The kickstart fund can only be used to test and implement your ideas based on the milestones you create for the 28 days of challenge.

I have a great idea but I have no knowledge of doing a business. Will I receive help in that regard?

Yes. We will guide you in making a business plan, developing your business model, and helping you with other aspects of business.

What kind of further support can I receive after the completion of the program?

You can get further mentorship support if you want to scale and grow your business idea.

I am not an entrepreneur but I would like to be involved in other ways. Is there any way I can be part of the program?

Yes, we are also looking to cultivate alternate investment habits among youths. You can also join the program as an angel investor with investments starting from NPR 5000.

Frequently Asked Questions (For potential angel investor)

What criteria do you consider when evaluating business proposals?

We evaluate business proposals based on factors such as market potential, the strength of the team, scalability, competitive landscape, and the clarity of the business model.

What is the expected return on investment (ROI) and timeline for profitability?

Our primary objective is to instill an entrepreneurial mindset. While we look for competitive businesses and ROI will vary for each of the team. The profitability timelines depend on market conditions and execution. But again, we are looking at aspiring entrepreneurs who are just starting out and profitability will definitely take some time.

How will our funds be utilized? What milestones will it help achieve for the participants?

The funds collected will be used as a basket fund to provide kickstart fund and seed funding for the selected ventures. The milestones for each business will vary but this fund will primarily act as a medium to kickstart their venture.

Do the investors meet the potential participants before investments?

Yes. A pitching session will take place and you can cast your votes and rank the ventures. Your votes/scores will carry some weightage that will decide the journey of the ventures in this competition.

Do I invest directly in the ventures or how do I invest?

A separate bank account will be created for the basket fund for transparency. This fund will be used in different ventures from the challenge as per their selection and requirement. You will not be directly investing in individual ventures during the challenge. However, you can invest in individual ventures post the final pitching.

What is the exit strategy for investors?

The funds will be locked in, for a minimum of 6 months. The returns will be based on the average from all the different ventures who received kickstart funding.

I know nothing about investments. Can I invest too?

Yes, we intend to cultivate the habit of investments and entrepreneurship from this program. We will conduct various open house sessions to help you understand multiple facets of investments.

Can I choose the ventures my investment will be invested in?

While the funds will be part of a larger basket fund, there will definitely be some weightage based on your choice before the kickstart fund is provided to ventures.

Make Your Future Better. Act Now!