50 startups to get Tk100 crore under “Shotoborshe Shotoasha” campaign
Startup Bangladesh Limited, Bangladesh's flagship venture capital fund under the ICT Ministry recently launched its inaugural campaign "ShotoBorshe Shoto Asha-Century of Million Dreams" with a commitment to invest Tk100 Crore in 50 startups this year.
The VC firm announced its first series of investments on 31st March to seven startups - Chaldal, Pathao, Sheba XYZ, Dhaka Cast, Moner Bondhu, Eduhive and Intelligent Machines, said a press release.
In continuation of this groundbreaking initiative, Startup Bangladesh Limited is undertaking various programs throughout the year, one of which is the webinar series featuring six sessions over the next six months in partnership with the High Commission of India, Dhaka. This series is also being supported by Startup India, Bangladesh Startup Consortium, BD-AIR, & Economic Reporter's Forum.
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Speaking as the chief guest, State Minister for ICT Zunaid Ahmed Palak MP said he would like to invite young startups from India to Visit Bangladesh to arrange a B2B matchmaking session face to face,
Indian High Commissioner to Bangladesh Vikram K Doraiswami stated that in the next 6 months, the RiseUp platform will bring together mentors, innovators, entrepreneurs, investors, etc from India and Bangladesh.
He hoped that the platform will facilitate an effective cross-learning opportunity that will benefit talented entrepreneurs from both countries,
The High Commissioner also recalled that during the recent state visit of Indian Prime Minister Narendra Modi to Bangladesh in March 2021,
He stressed that the RiseUp series could facilitate such linkages to jumpstart tangible cooperation.
Startup Bangladesh Limited Managing Director and CEO Tina Jabeen said, "Among all frontier markets, Bangladesh holds the most promising opportunity for venture capital and private equity investments. Startup Bangladesh Ltd. looks forward to collaborate with Indian High Commission and Startup India in building a stellar regional startup ecosystem."
The inauguration was followed by a panel discussion on "Startup landscape in Bangladesh & India : how tech startups are transforming the future with innovation in this region" Notable speakers and panel members included Rahat Ahmed, Founding Partner & CEO, Anchorless Bangladesh, Waseem Alim, Co-founder & CEO, Chaldal, Sharad Sharma, Co-founder, iSPIRT Foundation, Yamini Bhushan Pandey, CEO, AIC – Indian School of Business, Mohali. The session was moderated by Bijon Islam, Co-founder & CEO, LightCastle Partners. Other sessions will have discussions on the regulatory environment for Startups, overcoming hurdles to create a successful startup, Fundraising strategies, strategies for startups to go international and a deep dive into startup Opportunities in Bangladesh and India.
