Triangular (State-University-Market) Collaboration and Entrepreneurship Development in Nepal

The concepts; entrepreneur and entrepreneurship, have become widely popular in politics and academia in the modern capitalist world including Nepal today. There have been diverse debates on the notion of ‘‘entrepreneurship’’ to distinguish it from the field of ‘‘small business studies’’. However, the concepts of business and entrepreneurship are closely interconnected each other. The concepts are also now entered into the university of Nepal with two objectives. First, is linking society and university. Second, is to stimulate potential entrepreneurs encouraging and supporting them to establish business through Business Incubation Centre established within University. This paper aims to highlight the key pillars of business and entrepreneurship in different parts, particularly at local level, of Nepal. It also aims to explain how the triangular collaboration; State-University-Market/Industry, could be the most effective way of promoting business and entrepreneurship in Nepal today. Based on various documents; academic and policy, and narratives-concerns expressed by university, industry, and government, this paper argues that the local level entrepreneurship initiatives can be promoted through such triangular collaboration. The interest and emphasis of State-University-Market/Industry are now focused on the entrepreneurship development and employment generation in Nepal which is manifested through three key pillars. First, Universities are focusing their academic activities; courses and teaching, on business and entrepreneurship-oriented higher education through academia-industry collaboration. It is often mentioned in vision and work plan including policies and programs of university as well. Second, the government of Nepal is also focusing its policies and programs emphasizing on entrepreneurship development. Federal, provincial, and local governments of Nepal are therefore provoking for new entrepreneurial initiatives. Third, entrepreneurs and business people (local, national, and international) are looking for suitable environment for investment in potential new business and entrepreneurship. They are urging government to create secure entrepreneurial environment. Thus, the potentialities of establishing business and entrepreneurship in Nepal is possible through triangular; State-University-Market/Industry (SUM), collaboration that leads to entrepreneurship development accelerating employment rate and economic growth in Nepal.