Bangladeshi start-ups received over US$200 million foreign investment last for years paving the way of further growth.
Entrepreneurs who set up business ventures by applying their Ideas about a new product or a line of service introducing a solution to a problem that consumers are facing.
“The innovative enterprise receipt over two hundred million dollar as investment from entrepreneurs outside for start-up in the last four years,” State Minister for Information and Communication Technology (ICT) Division Zunaid Ahmed Palak said Tuesday at the inaugural session of Venture Capital Fund at a city hotel as the chief guest.
Over 280, startups are operating strongly in Bangladesh mostly Dhaka with predominance of software development and ecommerce startups,
Consumer base in the country comprises with of a growing middle class and a demographic that prefers the convenience of online shopping, explaining the popularity of ecommerce startups.
“Startups like Maya Apa, a service that aims to provide accessible healthcare information to women, and 10 Minute School, an online education platform that is providing free classes on subjects ranging from standard 1 to University to anyone with an internet connection.,” KM Saqiful Alam a lecturer of operations and risk management at the Department of Management, North South University
The startup community of Bangladesh has quite a few challenges to deal with which included lack of innovation, knowledge gap, information gap, infrastructure gap, financial gap and stakeholder gap, : While many institution and organizations are keen on supporting social innovations, they often operate in silos, he said.
The Bangladesh government has aimed at flourish the start-up system in the country and has given allotment of Taka 1 crore in the current budget to help entrepreneurs of the country, he said.