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Bangladeshi Startups Getting $750 Million in Foreign Investment
Startup Ecosystem

Bangladeshi Startups Getting $750 Million in Foreign Investment 

In the last decade, the country has attracted over $750 million in foreign investment in the startup industry, according to State Minister for Information and Communication Technology Zunaid Ahmed Palak. He made the remarks at the BCC auditorium of the ICT Tower in Dhaka, where he was taking part in the second phase of the ICT Department’s ‘Shotoborshe Shoto Asha’ campaign, presented by Startup Bangladesh Limited.


Bangladeshi Startups Getting $750 Million in Foreign Investment 


According to UNB, he stated that the government is assisting the country’s almost 22,500 startups with financial help through Bangabandhu Innovation Grand (BIG), a Startup Bangladesh Limited initiative project.


According to Palak, the department’s ‘Shotoborshe Shoto Asha’ initiative, which aims to invest Tk 10.0 million in 50 startups and create entrepreneurial culture and employment in Bangladesh, aims to commemorate the birth centenary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman and the country’s golden jubilee.


As part of this, an agreement was inked today to provide Tk 170 million in financing assistance to eight entrepreneurs in the second phase.


On behalf of their respective companies, Sami Ahmed, managing director of Startup Bangladesh Ltd, and the CEOs of the eight companies signed the agreement as investors. Hello Task, 10 Minutes School, iFarmer, Frontier Nutrition, Loop, Zantrik, Shuttle, and Truck Lagbe are the eight startups. Seven startups received Tk 170 million in the first phase.


According to Palak, the effort will establish a national entrepreneurial platform in the country and speed up the implementation of fresh ideas.


To deal with the Fourth Industrial Revolution, he continued, specialized labs at 53 universities, Fourth Industrial Revolution Centers, Joy Digital Service Centers in 494 Upazilas, 300 Schools of the Future, and Sheikh Hasina Institute of Frontier Technology, are being established.


Dr. Md Abdul Mannan, Executive Director of the Bangladesh Computer Council, Mustafa Osman Turan, Ambassador of Turkey to Bangladesh, and Wahid Sharif, President of the Bangladesh Association of Call Centers and Outsourcing, were among those who spoke at the occasion.

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