A Senior Lecturer at Regent College London, Prof. Kohol Shadrach Iornem, has asserted that the key to entrepreneurial success lies in identifying problems, especially those created by institutional voids, and creating viable solutions to the problems.
He asserted this position while delivering a keynote address on “Business Start-up Strategies for Aspiring Entrepreneurs in Emerging Economies” on August 29 at a conference at Tribhuvan University’s Patan Multiple Campus, one of Nepal’s oldest and most respected institutions.
According to Prof. Iornem, “People buy solutions to their problems.” Therefore, “The key to entrepreneurial success lies in identifying problems—especially those created by institutional voids—and creating viable solutions around them.”
Drawing from his studies with HarvardX, the online initiative of Harvard University, Prof. Iornem introduced three strategic models to help entrepreneurs identify and capitalise on market opportunities. His strategic models include institutional voids, design thinking, and disruptive innovation.
According to Prof. Iornem, institutional voids are systemic gaps resulting from ineffective governance, corruption, weak judicial systems, and poor information flows—common challenges in many emerging economies.
“These voids, while problematic, can also offer fertile ground for innovative entrepreneurial solutions,” Prof. Iornem highlighted examples from India, Nigeria, Nepal, and South Africa, where businesses have successfully emerged to bridge the gaps.
He also spoke candidly about the economic realities of emerging markets, where traditional 9-to-5 jobs often fall short of providing financial stability.
Encouraging multiple streams of income, the Regent College scholar shared his experience, balancing his role as a full-time lecturer with income from his executive education and training institute in London, royalties from published books, and affiliate marketing.
Assoc. Prof. Raghu Bir Bista, Campus Chief of Patan Multiple Campus, in his closing remarks, expressed heartfelt gratitude to Prof. Iornem for the powerful keynote address.
“This was an inspiring and timely presentation. We have learned a lot. I urge our students and faculty to not only listen but to act—identify the missing, inefficient, or dysfunctional market structures and see them as opportunities for entrepreneurial intervention,” Prof. Bir Bista said.
Prof. Iornem was accompanied by his wife, Mrs. Sadiksha Iornem, to the conference, which attracted a diverse audience that included business and management students, aspiring entrepreneurs, faculty members, and academic researchers.
The event was jointly organised by Patan Multiple Campus and Young Picasso, a community school of fine arts led by CEO Ajay Deshar.
Professor Kohol Iornem, a Senior Lecturer at the School of Business and Enterprise, Regent College London, affiliated with the University of Greater Manchester, and a widely respected thought leader, has chaired and spoken at global forums such as the British Academy of Management and the Cambridge Africa Conference.
He is a recipient of the Award of Excellence from the African Society of Cambridge University and a certified John Maxwell Leadership speaker, trainer, and coach. Over the past 15 years, he has trained more than 2,500 managers across 20+ countries, influencing business leadership and innovation worldwide.
