The government will help with the funding of 1,000 business start-ups by the end of 2021 with the aim to introduce a strong start-up culture within the economy.
Zunaid Ahmed Palak, the minister for Information and Communication Technology (ICT), said this on Friday at a press briefing, held in the capital in connection with the upcoming "Digital Device and Innovation Expo 2019."
The ICT minister said, the government is preparing for the Bangabandhu Innovation Grant (BIG) that aims at funding business projects of 1000 innovative entrepreneurs so that they can go ahead with their projects without facing any problem.
He also said, the ICT division has initiated a program, under the banner Hundred Plus, consisting a part of the celebration concerning birth centenary of the father of the nation; the program pertains to a plan to fund 100 business start-ups.
Experts in the area of investments and finance stressed on creating a business environment that inspires innovative ideas in its formative stages through a supportive ecosystem. Funding innovative business start-ups consists a significant part of the strategy, because the young entrepreneurs with innovative ideas face hurdles in getting the bank loans.
Apart from the government initiatives, a special group of private investment organisations, namely, 'venture capital financing organisations', provides seed money to the potential start-ups.
Few banks with innovative ideas are also including seed money funding in their business model.
Participants at the press briefing also discussed issues concerning the upcoming 3-day ICT exhibition (Digital Device and Innovation Expo 2019), scheduled to be inaugurated on October 14 at the Bangabandhu International Conference Centre.
ICT Division, Bangladesh Hi-Tech Park authority, Idea Project, a2i, and Bangladesh Computer Samity (BCS) are jointly organising the expo that will help promote talents in the country's ICT sector, while creating awareness regarding the importance for exploring sectoral potentials, said the concerned officials.
High-level officers from the ICT Division, Bangladesh Hi-Tech Park authority, Idea Project, and Bangladesh Computer Samity were present at the press briefing.