UN publishes startup ecosystem assessment report for Bangladesh

Published : 24 May 2022 09:21 PM

The United Nations released the Startup Ecosystem Assessment Report (SEAR) for Bangladesh. The report was released on Tuesday in Bangkok, the capital of Thailand, in a joint venture between the agency's Asia-Pacific Economic and Social Commission (UNESCAP) and the Hi-Tech Park Authority.

The report provides an in-depth analysis of the economic foundations of Bangladesh, the current situation and start-up culture-friendly policies in the country, as well as a comprehensive analysis of the potential and direction of Bangladesh's digital future.

The report is based on multiple dialogues with public and private stakeholders in Bangladesh's startup ecosystem, extensive data review, interviews and discussions with key stakeholders in Bangladesh's start-up economy.

ESCAP (SCAP) has conducted this comprehensive assessment of Bangladesh start-up ecosystem. Relevant capacity building requirements are assessed in this report by analyzing the gaps that exist in the existing situation.

According to the report, over the last five years, startups in Bangladesh have received over Tk 459 million in investment as a normal result. It also includes a special inquiry into Gender Lens Investment (GLI). Emphasis has been placed on the need for inclusive policies and business practices for women start-up founders and entrepreneurs to highlight the challenges.

It is expected that this report will serve as a credible document in future government formulation of relevant start-up policies.

ICT State Minister Zunaid Ahmed Palak said that the implementation of Digital Bangladesh Vision is unforgettable. To implement this vision, we are building a vibrant startup ecosystem in Bangladesh. Hopefully, by 2041, the vision of smart Bangladesh will be realized by building a high income and prosperous country. In this case, our entrepreneurial ecosystem will create thousands of startups in the country to provide innovative solutions and services. Those will bring unimaginable changes in people's lives.”

At the launch of the report, UN Under-Secretary-General and Executive Secretary Armida Salsiah Alisjahbana said startups are an important source of innovation in achieving the Sustainable Development Goals. As the startup community in Bangladesh is experiencing unprecedented growth in various sectors, now is the time to strengthen the overall ecosystem to support this growth in a sustainable and equitable manner.

Coordinating data from the UN Disaster Management Agency, UNCTAD, UN DESA, and five UN regional commissions, the project provides advice, capacity, and construction assistance to governments to better enable small, medium and medium enterprises to recover from the aftermath of the Covid-19 pandemic.

Under the general framework of this global project, ESCAP is working for technology start-up organizations to assist Bangladesh through conducting research and discussion and promotion sessions on Bangladesh's environment.

Relevant officials of Bangladesh and UNESCAP were present at the event held at UNESCAP office in Thailand.