Kolpa has been offering exclusive and ex[ CITATION Nic20 \l 1033 ]otic products

representing the diverse culture of Nepal for almost 6 years now and the way they
operate is what makes them different
Entrepreneurship is the act of creating a business or businesses while building and
scaling it to generate a profit.
transforming the world by solving big problems. Like initiating social change,
creating an innovative product or presenting a new life-changing solution.
Entrepreneurship is the process of discovering new ways of combining
resources[ CITATION Rus20 \l 1033 ]
The capacity and willingness to develop, organize and manage a business venture along with
any of its risks in order to make a profit. [ CITATION BDD20 \l 1033 ]
The discovery, assessment and exploitation of opportunities. [CITATION Alv \l 1033 ]

Qualitative research is a research method that focuses on obtaining data through participant
observation and interviews. Qualitative research method originated in social and behavioral
science and is used to gain an in-depth knowledge of people’s belief, experience, attitude and
behavior. The data collection method varies using structured or unstructured techniques and
one-on-one interview, focus group, ethnographic researches are some of the common
methods of data collection. To meet the purpose of this report, primary research was
conducted through questionnaires and interview.
[ CITATION Vib13 \l 1033 \m Sus11 \m Adi19]

As commented by renowned author Peter F. Drucker, “Innovation is the specific function of

entrepreneurship. It is the means by which the entrepreneur either creates new wealth-
producing resources or endows existing resources with enhanced potential for creating
wealth”. According to the innovation theory by Joseph A. Schumpeter, innovation is the
process of conversion of opportunities to profit generation by an entrepreneur i.e. an
entrepreneur applies new ideas and techniques to reduce the production cost and to increase
the demand for his product for increased economic gain. Entrepreneurs introduce new
innovation and takes the economy to a new level of development. Schumpeter’s innovation
theory refers to the launch of of new product or a new species of existing product, new
production process or sales strategies, opening up of a new market, new source of supply of
raw material and innovation in organizational management for the creation or destruction of
monopoly position. New source of supply of raw materials refers to a source of raw materials
that existed but wasn’t utilized commercially before. [ CITATION May20 \l 1033 \m Kar13 \m
JAr20 \m Rel13 \m Don]