MIT launches Global Startup Labs in Nepal

Massachusetts Institute of Technology (MIT), USA, on Friday launched the MIT Global Startup Labs (GSL) in Nepal this summer with Kathmandu University and Ncell.  MIT GSL empowers technology entrepreneurs and helps cultivate the startup ecosystem in emerging economies. 

The MIT has been conducting the program for the last 18 years in 25 countries promoting economic development by cultivating young technology entrepreneurs, including India and Sri Lanka in South Asia. This inaugural program has been made possible by Ncell that works towards the technological advancement of the country by nurturing young entrepreneurs.

9.2 million Ncell customers carry smartphones

First quarter report of Ncell released by its main investor Malaysian company Axiata shows that people carrying smartphone is increasing sharply in Nepal and the figure reached around 9.2 million. As per the report, 56% customers of Ncell are using smartphone. Ncell has 16.4 million customers. As per the recent Q1 report, compared to smartphone penetration of 44% in the Q1 last year, the penetration rate this year has increased by 12 percentage point. Smartphone penetration in Ncell was at 52% in Q4 2017. The number of data users is also increasing significantly.