Mainframe Labs Ltd (MLL) as a winner of the Bangladesh-based 'Tiger Challenge' competition signed a deal with the TigerIT Foundation, the co-host of the programme, on Monday.
Through this deal, it receives an investment fund from the TigerIT Foundation (TIF) for its entrepreneurial project– Online Sohopathi, said a press statement.
At the agreement signing event, Shamim Ullah Chowdhury, treasurer of TIF handed over the investment cheque to directors of MLL.
"The announcement of Online Sohopathi as one of the finalist projects in the Tiger Challenge gave us the affirmation we needed to cement our belief in our project's potential," said Shadman Majid, chairman and CEO of Mainframe Labs Ltd.
The Tiger Challenge is an initiative by the Tiger IT Foundation and the MIT Solve.
Launched in 2019, the collaboration was a first for the Massachusetts Institute of Technology (MIT), as it had never before merged its flagship initiative MIT Solve with any others.
This unique partnership was born out of the aim to support and invest in tech initiatives that make education, healthcare and community development services accessible to all.
It is also the goal of this partnership to set up a platform where contextualised, marketable innovations are bred, and which can promote foreign investments and create quality employment opportunities in Bangladesh.