Modality & Sustainability
A not-for-profit sharing company by the name of “Rashtriya Awishkar Kendra” (National Innovation Center ) has been registered according to sub-section(1) sections 5 of Company Act 2006 Nepal. The innovation center will provide young researchers, innovators and inventors full financial support and mentoring in four steps as given below:
Provide full financial support and mentoring for accelerating prototype design.
Provide full financial support and mentoring for product development.
Provide full financial support for getting patent right, trade mark, intellectual property right, etc.
Provide support for connecting them to investors so that they can lunch innovative products and services aimed at impacting the economic and social development.
In this sense, National Innovation Center is a nurturing center, and aims to create a model to retain, nurture and promote Nepal’s top human capital and leverage their considerable intellect, creativity, and talent in fostering the country’s social and economic growth. This model can be replicable in all least developed countries that are going to through a similar process.
Current Borad or Directors
The team members, who are taking initial leadership role are DR. Mahabir Pun (Social Entrepreneur and internet Hall of Fame inductee) leads the project as Chairman with Mr. Rameshore Khanal (Economist and Former Secretary, Ministry of Finance), Dr. Dambar Nepali (Hydro power expert). Dr. Pramod Dhakal (Former scientist in Canada now with Open University Nepal), and Dr. Dinesh Bhuju (Scientist, National Academy of Science and Technology). More board members will be inducted based upon their contributions. The Board Members are not entitled to any financial incentives.
National Innovation Center will be a unique organization because the goal is to make a fully sustainable. In or der to make the center unique and fully sustainable from the very beginning, National Innovation Center will register a hydropower company as a major stakeholder and will develop a 10MW to 15MW hydropower station. The power will be sold to the government to generate cash income for sustaining the center.
The hydropower satiation was chosen to make the innovation center sustainable because it is the most predictable, stable, and stead source of revenue. It is a once-tome investment, and there is no need for further ongoing investment. National Innovation Center will get necessary permission form the Nepal government to build the power station and sell the power there are sites available to build the hydropower station.
The estimated minimum cost for building a 10MW hydropower station is around US$15 million .National Innovation Center needs a 5 million (30%o of the totals project cost) for equity to build the 10 MW hydropower station 70% of the total project cost will be taken as loan form the commercial banks. It will take about five years to complete hydropower station generate income to sustain the innovation center.