At the dizzying heights of the Himalayan grasslands, where the air is thin and life clings to every scrap of earth, a collector, bent over, spends hours scanning the earth. He is not looking for precious stones or metals, but for something far more valuable: “Himalayan gold.” It is not a mineral, but Yarsagumba (Ophiocordyceps sinensis), an amazing hybrid of a mushroom and a caterpillar, the cost of which on the world market may exceed the cost of gold. This phenomenon is the clearest symbol of Nepal’s hidden economic potential. The country’s unique biodiversity, from alpine meadows to the tropical forests of the Terai, is not just a natural heritage to be protected, but a vibrant economic resource that can become the basis for innovation and global business.

Nepal today stands at a crossroads. On the one hand, the country has a rich reserve of raw materials - endemic plants, unique agricultural crops and centuries-old traditional knowledge about their use. On the other hand, the path from a traditional recipe to a competitive product on a supermarket shelf in New York or Tokyo is long and thorny. It requires not only high-quality raw materials, but also modern technologies, branding, well-established supply chains and, most importantly, reliable protection of intellectual property.

This study tells the stories of Nepali entrepreneurs, local communities, and international companies who are trying to navigate this journey. Using four unique products—from a fabulously expensive mushroom to rice from the world’s highest rice paddy—we examine how Nepal is turning its biological treasures into sought-after commodities, and the systemic challenges it faces in creating a sustainable and innovative bioeconomy.