In this era of the growing demand for scientific and technological solutions to world problems, Sochware proposes to be an elegant solution. The world currently walks on the path paved with information technologies. Sochware is a company that intends to exploit these technologies to solve problems and create business opportunities. The ‘Soch’ in Sochware means ‘thought’ in Nepali, and ‘ware’ derives itself from the words ‘hardware’ and ‘software’. Thus, ‘Sochware’ indicates thoughts and ideas that can be generated to solve problems through the application of appropriate hardware and software technologies.
Connecting the plugs to business
“Initiating startups is always a challenge for young entrepreneurs, especially students from middle-class families.” Says Ms Eeda Rijal, the CEO and the co-founder of Sochware.
Even though SochWare is now officially registered as a private company since 2018, the confusing webs of fund-generation and legal procedures were definitely a major source of headache for the students in the early years. Piercing through a range of programs including the Pre- Accelerator Program and the Microsoft Student Partner Program, they struggled since 2016 and finally managed to create a robust tech-company as of today. It does not only aim to build solutions but also educate people on the use of technology and the creation of a long-term self-sustaining market for it.
The energetic team had learnt to establish themselves through legal procedures with consultations from a lawyer. The arduous procedures involving the preparation of Niyamawali and Prabandha Patras were a bureaucratic maze where it is easy to get lost. Yet, with professional help and grit, they were able to manage and succeed in establishing their company.
“Funding was another obstacle that we had to overcome during the initial phase in which we, the founding members, handled the operations cost with money out of our own pockets,” says Mr Shishir Shrestha, the other co-founder. The team has grown since and with a stable reliable financial backing, they look forward to making profits.
The Blending of Ideas
“All three of the co-founders had a zeal to solve problems using the technical knowledge and skills that we had acquired, so it wasn’t difficult for us to blend our ideas and transform them into reality.” Shrestha triumphantly states.
Today the idea of Sochware contributes to the development of the nation by fusing the essence of technology Soft-solution development(Software solutions), hardware research and development and training with IoT (Internet of Things). Along with running a conventional business, it also works to educate, train and develop technology suitable and accessible to the world through Nepal.
It has taken quite a time for their ideas to take hold in people’s imagination, but their perseverance has finally paid off. The dynamic technology industry has paved the way for a change in attitudes towards technological awareness. After going through the challenge of garnering trust from customers and acceptability by the market, Sochware now manages around 1.2 Million in Annual revenues with maximally satisfied customers.
“One might have an amazing idea and some skills in technology. However, one needs to be holistic and practical when it comes to standing out in the crowd.“ says Shrestha.
Processing the journey
The team of enthusiastic and energetic youths have managed to get through the difficult times through hard work, team bonding, commitment and maintaining a balance between their personal and professional lives. They live in constant feedback: Accept mistakes and build upon them.
With regards to sustainability, Shrestha adds, “Sustaining our business is monumental to our thinking process. We have been managing it financially with MoFR: The Month of Financial Reserves initiative. We also encourage creative in-house innovations for various problems that could address people’s needs.”
Gritting your way through to success
Sochware is not just a company of accomplishments. They also have a history of failures which taught them valuable lessons. The Internet of Things(IoT) product, which is a way of solving problems through an interconnected family of sensors, dragged on for almost a year, battling with lack of funding and creative decisions. Now they cherish its success through the development of the “E-agro vet”, which has proved to be their springboard into the Southeast Asian region.
“The journey wasn’t as easy as it may look to a casual observer, but the results we’ve managed to obtain have been worth the effort and dedication of our 12 core team members. The support from our families and the precious guidance provided by mentors has made all the difference,” says Ms Eeda Rijal.
He finally concludes with, “LIfe hits you with uncertainties and difficult odds, but if your determination to succeed is strong enough, you can pass through them like a knife through butter. Just make sure your knife is sharp, and your hand doesn’t stop.”
Currently Dealing with the Pandemic
While the business is currently shut off due to the pandemic situation, the team has been brainstorming ideas to adjust strategies to make the business thrive after the lockdown ends. They believe that the world, along with Nepal, is going to take a big leap in the technology sector, and they intend to accommodate accordingly. Thus, they have been focused on reflecting on their works, innovating new strategies and have also started an online page, ‘Suswastha’, aimed at giving health-related information to people. Overall, optimism is what has driven them to go on despite the lockdown. With hard work and determination, they intend to set up a newer version of their business after normality resumes.