Assessment of AgriTech Startups in Nepal: Prospects, Challenges, Policy Recommendations, and the Way Forward

Abstract

The Agritech sector in Nepal has gained momentum in recent years, promising to revolutionize the country's agricultural landscape. This article attempts to assess the Agritech Startups landscape in Nepal and delves into the prospects and the challenges encountered by the Agritech startups in Nepal. Alongside this article discusses on the policy recommendations that are required to be implemented promptly in the sector for its sustainable growth. Through a comprehensive secondary analysis of the market dynamics, technological innovations and socio- economic conditions, this study explores the uncharted potential that could assist in agricultural productivity. Furthermore, the research highlights the role of government policies in fostering a conducive environment for Agritech entrepreneurship. The findings emphasize the importance of digital literacy, market linkages, technical support and targeted incentives in propelling the growth of Agritech startups in Nepal. By considering the unique Nepalese context, this research identifies the major players in the market, major segment of the Agritech business currently in operation in Nepal and aims to provide a roadmap for the way forward, fostering the sustainable development of Agritech startups, and contributing to increased food security and economic prosperity in Nepal.