The functions, duties and powers of the Board shall be as follows:-
(a) To conduct the training such as, training on creating new business, industrial capacity enhancement, business identification and
selection and feasibility study of business plan.
(b) To conduct training such as training on production management and productivity development, market management, account, personal
management and business management.
(c) To conduct the work relating to technical as well as business  information and transfer of technology
(d) To conduct the programme on entrepreneurship, managerial development and trainer training for technical and skill development.
(e) To provide consultation service on small enterprise.
(f) To conduct research, training, study, seminar, survey, exhibition, workshop etc. relating to industry by the institution itself or through
the participation of other institution.
(g) To prepare necessary curricula and guidelines for the development of industrial entrepreneurship; to formulate result oriented
programme for training and trainees, to implement, monitor and evaluate the effectiveness of such programmes.
(h) To provide money, goods and other assistance for the development of industrial entrepreneurship from the Government of Nepal or
foreign government or national or international institution or association or person.
Provided that, before taking money, commodity or other assistance from the foreign government or foreign based international organization, institution or agency or person, the prior approval of the Government of Nepal shall be required.
(i) To impose full or partial charge on the programme of the Institute upon considering the economic status of target group and cost of the
programme.
(j) To perform other necessary functions to carry out the objectives of the Institute.