The country’s startups have brought $200 million of investment in the last four years. To build up a sustainable start-up friendly environment for the country’s young entrepreneurs, the government is providing all sorts of support including mentoring, coaching, funding and others.
State Minister for Information and Communications Technology Zunaid Ahmed Palak came up with this comment while speaking at an inauguration programme titled ‘IDLC Venture Capital Fund 1’ at InterContinental Hotel in the capital on Tuesday.
“To help the country’s rising and young entrepreneurs, the government has allocated Tk 1 crore with the current budget of the country. The government is providing financial assistant of Tk one lakh to Tk 10 lakh at the seed stage, while in growth stage Tk one crore to Tk five crore is giving as venture capital”, said the state minister.
Noting that young entrepreneurs have an important role to play in the country's economic growth, Palak said, “The government as well as the private sector will have to come forward to take the startups forward”.
He urged entrepreneurs to meet domestic needs through innovative solutions.
It is to be noted, an enabling digital ecosystem, demonstrated by high internet and smartphone penetration rates of 55 percent and 31 percent respectively, has given rise to the number of technology-enabled service providers within the startup arena.
In the coming years emerging sectors like Fintech, Agritech, Healthtech, Edutech, Deep tech, and Analytics will keep spearheading the growth of startups in Bangladesh.
Among others, IDLC CEO and managing director Arif Khan also spoke on the occasion.
