Entrepreneurial Success Model: Evidence from Bagmati Province in Nepal

Nepal’s renewable energy sector comprises both successful and subsistence entrepreneurs. In this connection, the enduring question arises of how successful entrepreneurs have something special in Nepal’s biogas sector. The purpose of this paper is to determine the role of financial capital, social capital, and human capital on entrepreneurial success in the context of the biogas sector in Nepal. The study adopts a causal-comparative research design using primary data. The necessary data were collected using a structured questionnaire on a sample of 33 biogas companies having 63 respondents. The collected data were analyzed by estimating econometric models and correlation analysis through IBM SPSS statistics. The study reveals that a strong role is played by experience, education, initial investment, access to finance, and network ties in determining entrepreneurial success while a weak role is played by trust and shared vision. Thus, this study is useful for biogas companies, development actors, academia, and policymakers for more sector commercialization and creating a conducive enabling environment by formulating entrepreneur-friendly policies for the sector. The study can be extended by conducting a detailed analysis of sector-wise comparison of renewable energy enterprises to find out widespread results for the sectors and their actors.