Introducing Silicon Peaks: Asia's Next Tech Hub

Silicon Valley has long been the epicenter of tech innovation. Its notoriety as the forefront of innovation was solidified by the dot-com bubble of the 1990s, attracting huge tech innovators like eBay, Yahoo, PayPal, and Google — spawning a wave of similarly named hubs worldwide:

• Silicon Alley (New York)
• Silicon Beach (LA)
• Silicon Slopes (Utah)
• Silicon Flatirons (Boulder/Denver)
• Silicon Prairie (Mid-west)
• Silicon Hills (Austin)
• Silicon Forest (Portland)
• Silicon Roundabout (London)
• Silicon Wadi (Israel)

Enter Silicon Peaks — the next big tech revolution brewing in the shadow of the Himalayas. While Nepal is famed for Mount Everest, its capital, Kathmandu, is gaining recognition as a growing tech powerhouse. Pukar C. Hamal, CEO of SecurityPal, coined the term Silicon Peaks to represent Nepal’s transformation into a thriving tech hub.

Introducing Silicon Peaks, Asia’s next tech hub in Nepal.

While SecurityPal is proud to be a key player in Kathmandu’s growing tech presence, Silicon Peaks extends far beyond our headquarters. The numbers tell a compelling story:

• $515.4M in IT exports (2022)—a 64.2% increase from the previous year.
• IT services contribute 1.4% to Nepal’s GDP and 5.5% of foreign exchange reserves.
• Tech employment grew 48% (2020-2022), with 500+ registered tech companies (up from 220 in 2019).

But Silicon Peaks isn’t just about stats. It’s about a nation of innovators, problem-solvers, and dreamers determined to put Nepal on the global tech map.

The roots of Nepal’s tech transformation

Nepal’s tech story didn’t happen overnight. In the 1990s and early 2000s, the country saw its first wave of IT pioneers, including Data System International (DSI), Mercantile Office Systems (MOS), and IMS Group. These were the trailblazers who built our tech foundation — developing software, navigating nascent internet infrastructure, and creating opportunities where none existed before.

Nepal Government support played a pivotal role, as well. For example, the 2015 National Information and Communication Technology (ICT) policy created a "Digital Nepal" vision by providing a clear legal framework for ICT access for all citizens. The ICT policy drove awareness about the potential of ICT for development, with a key focus on fighting cybercrime and enhancing cybersecurity measures.

Furthermore, the government-funded Information Technology (IT) Park is a large-scale technology park designed to foster innovation and promote the growth of technology-oriented companies. Upon its completion, it will serve as a hub for technology companies, providing them with a supportive ecosystem, access to resources, and opportunities for collaboration, innovation, and growth.

But what truly sets Silicon Peaks apart from other tech hubs in the world is the Nepali people — individuals who saw technology not just as a career, but as a way to connect Nepal to the world.

The Silicon Peaks difference

From its strategic location to its growing pool of specialized talent, here’s what sets Silicon Peaks apart.

1. Strategic location

Nepal is uniquely positioned to act as a tech corridor between two of the world’s largest economies: India and China. For global businesses, Nepal’s cost advantages in IT services make it an attractive alternative to more expensive tech centers.

2. World-class tech talent

According to a Global Talent Crunch Survey, by 2030, there is expected to be a talent deficit of 85.2 million tech talents across global economies and nearly $8.5 trillion in unrealized revenue. Meanwhile, Nepal produces 9,000+ engineering graduates annually, equipped with English fluency, Western business acumen, and cutting-edge skills.

But the real difference lies in the returning Nepali diaspora — graduates of Ivy League schools and veterans of Google, Microsoft, and Oracle. According to recent reports, 40-60% of the Nepali diaspora is planning to return to Nepal, primarily motivated by potential job opportunities. They carry with them a deep understanding of global tech culture, innovative business strategies, and an unshakable belief in the country’s potential.

Nepal also holds a unique distinction: it ranks first globally in per capita international student enrollment in the U.S. and tenth overall. This pipeline of international exposure infuses Nepal’s tech ecosystem with world-class expertise, empowering local businesses and startups to think big and operate globally.

3. Infrastructure and digital transformation

In just a few years, Nepal has transformed its infrastructure. Internet penetration in Nepal has grown from only 0.9% in 2005 to over 50% as of early 2023. Meanwhile, electricity, once a luxury for most, now powers 99% of the population with the majority of Nepal's electricity generation comes from hydropower, leveraging the country's abundant water resources.

The pace of change is awe-inspiring. Roads that were once mere trails now connect bustling towns, hydropower projects hum with energy, lighting up homes and offices, and startup ecosystems are thriving, backed by venture capital once unimaginable. Between 2021 and 2022, Nepalese firms invested approximately $66 million across 15 diverse industries, including IT, renewable energy, agri-business, manufacturing, and pharmaceuticals.

“SecurityPal’s mission to accelerate business growth by simplifying and securing the customer journey is what drives me. But if I retired, this is still the thing I would want to be doing: bringing Silicon Valley to Kathmandu.”
Pukar Hamal, CEO

Lessons from Silicon Valley that are shaping Silicon Peaks

Silicon Valley's unique combination of factors that led to its global renown as a tech hub includes a strong culture of entrepreneurship, readily available venture capital, a highly skilled talent pool, a risk-taking mentality, close proximity to top universities, and a historical foundation in semiconductor technology, which has inspired other regions to try and replicate its success by fostering similar ecosystems for innovation and startups.

Silicon Peaks is following suit — while forging its own path:

• Culture of disruption: Nepal embraces the risk-taking mindset and bold ideas that are the hallmark of Silicon Valley’s success. But here, innovation is about solving local problems with global solutions — and using the same homegrown expertise to address global challenges.
• Highly skilled talent pool: Like Silicon Valley, Nepal understands that talent is the lifeblood of tech growth. There’s an intentional focus on education, professional development, and mentorship to cultivate the next generation of leaders in tech.
• Venture and investment ecosystem: The burgeoning startup scene is supported by venture capital, and Nepal’s young entrepreneurs are actively driving new ventures with global potential. This ecosystem is maturing rapidly, allowing startups to scale faster and more efficiently.
• Supporting infrastructure and policies: Nepal’s government is increasingly supportive of its tech sector, with policies and initiatives designed to foster growth.

“Nepal’s approach is as much about fostering local identity as it is about global competitiveness.”
Laxman Basnet, VP of Global Operations

Scaling the Peaks: A vision for the future

By 2025, Nepal aims to create 100,000 new tech jobs, and by 2027, it has set its sights on achieving $1 billion in IT exports. The world is beginning to see Nepal not just as a land of mountains, but as a rising tech powerhouse. The only question is—will you be part of the story?

Welcome to Silicon Peaks. The view from here? It's absolutely unlimited. ⛰