The start-up culture is indeed coming to this South Asian country.

"We were concerned about bringing the venture capitalists here,'' admitted co-founder Quentin Staes-Polet standing outside the cramped and damp office of his online game company with a staff of 15.

Actually, the VCs who were invited by the founders to possibly fund their company felt right at home in the dilapidated structure: "Ah, this is what it's supposed to be like,'' Staes-Polet recalled.

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