Bangladeshi startups are getting an opportunity to take part in the Startup World Cup for the second time.
Initially, there will be a regional competition. The wining team will participate in the final round with competitors from over 50 countries. They will pitch their ideas in front of more than 2,500 global investors.
The grand finale will be held at Silicon Valley in the United States on May 22.
The winner of the global event will get a $1 million investment prize.
The foreign ministry, the ICT Division, the Venture Capital and Private Equity Association of Bangladesh, and the International Finance Corporation will jointly organise the regional round. The event will be powered by eGeneration.
Interested startups can apply on www.startupworldcup.io/bangladesh-regional. The deadline for submitting applications is January 31 and the regional final will be held on February 8.
"No fee is required for the application but a startup has to be less than five years in business to qualify for the global competition," Shameem Ahsan, general partner of Pegasus Tech Ventures and chairman of eGeneration Group, said in a press conference in the capital on Sunday.
"The panel of judges will mainly look at how innovative a startup idea is, how good the team is, the market size of the business ideas and whether the ideas can really be implemented in the global market," he added.
The winner will get the chance to represent Bangladesh in the global platform, Shameem said.
Wendy Werner, country manager of the International Finance Corporation, said, "What we see as an investor is that this global competition will bring more attention to the Bangladeshi market."
Last year, Repto represented Bangladesh at the global event.
SM Ashraful Islam, executive vice-chairman of eGeneration Group, Syed Mojibul Huq, additional secretary to the ICT Division, Munir Hasan, founder of Chakri Khujbo Na, Chakri Debo, Mohammad Rassel, founder and chief executive officer of Evaly, and Zia Ashraf, founder and chief operating officer of Chaldal, were also present at the press conference.