16th October 2019
Being a student of Electronics and Communication Engineering, Mr. Krishna Chapagain believes that IT sector is emerging in the global context implying that the IT sector has a greater market in the context of world as well as in Nepal.
There was an incident that happened to a close friend of him in Kathmandu. His friend’s laptop got stolen from home. He started becoming more concerned with theft/burglary or fire or any kind of unexpected accidents related to home that causes loss of property or causes worries to people when they are away from home. This incident actually triggered his mind to develop a business idea related to home security concept. He shared it with his friends, and did some research in existing businesses related to this sector. While doing research he got to know about “Home Automation Nepal (HAN)”. Then, he applied for a job at HAN and learnt more about home automation products. He worked there for almost six months. During this period, he acquired technical skills and experience of variety of electronic products and its installations. While working in Kathmandu, he realised that there is a potential market in this sector at Chitwan. So, he left his job in Kathmandu, and moved back to Chitwan-his hometown. As he did not have any concrete idea or experience on how he could start his business nor he got academic background related to business management, he decided to join Masters in Business Administration at Chitwan with the ambition to start his own business.
Then, through his college he came to know about Incubation program initiated by Antarprerana and consortium and applied for it. Even though he only had a business idea, he was successful to impress the judges and got selected for the first cohort of Incubation program based on I-Cube at Chitwan. Reflecting back at his journey from the first session of Master class –when he was so much confused about his products yet determined about the sector where he wanted to work. At that time, he was stating that he wanted to build a smart home with offering more than 14 plus products that included modernised gate, security alarm, fire alarm, automated cameras to name a few.
The session on mission, vision, values and golden circle helped him to actually realize and ask why does he want to initiate this particular business. He set his milestones in which the first priority was to register his business. Later on the every session such as human centric design, lean business canvas helped him to get clarity in terms of his business idea, products that he wanted to sell and customer’s need, the customers’ market, the collaborators, most importantly who are his ideal customers.
Through mentorship that he received in the period of Incubation he was guided forward in his entrepreneurial journey. Ms. Puspa Sharma, his mentor suggested him to talk with Home Automation Nepal (HAN), which was also his ex-employer to get the dealership for Chitwan. The same proposal was made from other two companies from Chitwan but eventually got rejected. In Krishna Chapagain’s case, he proposed his mentor to be a Marketing manager and requested to talk with officer from HAN that resulted him to get the dealership implying that he successfully achieved his second milestone.
However, the journey did not always have high moments. He was going through a lot of challenges at personal level and managing funds for his company was challenging.
Then the networking event with Mr. Madhu Sudan Aryal, the owner of one of the leading paint manufacturing company of Chitwan revived his wish and he got motivated to pursue his entrepreneurial journey.
His dedication not only impressed his family but his mentors and his teachers from his college where he was pursuing his MBA at Chitwan. Moreover, his college was ready to support him through providing seed money for his business idea.
Fortunately, his father was able to manage investment for him. His father provided him four lakh NRS. He invested the money in importing all the required products from HAN, Kathmandu and setting his own office including a demo lab for his products at his own home. He has already sold his products to six customers who are none other than his peers from the incubation program, the mentors and the team. Besides, he has received orders from his neighbors. So, the community is also believing and helping him in his business through building up business linkages.
Coming to the end of the six months of incubation, Mr. Krishna is quite clear on his business’s vision. He envisions of creating stress free and easy life for those people who live or work away from home for long hours. He aims to achieve this by providing security products and modern electronic products infused with updated technology to the customers with installation services at reasonable prices.
“I am very grateful to Antarprerana Incubation for making me more clear about my business roadmap and providing me motivation with all the business stories and support from entrepreneurs” –Krishna Chapagain, Incubee