Bangladesh Youth Leadership Center (BYLC) Ventures is launching a brand new cohort for young entrepreneurs to help them make their mark in the business world.
After successfully completing four cohorts, BYLC Ventures has started taking applications for its fifth cohort from 19 May, according to a press release.
BYLC Ventures was launched in 2019 with a vision to help passionate young founders give shape to their entrepreneurial initiative. Their goals include funding the most promising founders in Bangladesh and supporting their leadership capabilities, business acumen, and business ideas.
The accelerator programme, which aims to provide support beyond funding to aspiring start-up founders, is looking for young entrepreneurs with dynamic business ideas who can add value to the economy of Bangladesh.
The winning teams of BYLC Ventures Cohort 5 will receive seed funding of Tk8 lakh with the option of a further Tk20 lakh in additional investment.
The teams will also have access to a co-working space, mentoring, and a rigorous accelerator curriculum for six months.
A total of 20 startups have received seed funding and training from BYLC Ventures since their inception.
These startups have successfully created employment opportunities for over 300 people and generated combined revenue of more than Tk3 crore.
2021 made headway for Bangladesh's venture capital funding, as start-ups raised over $166 million, a quantum leap compared to the numbers in 2020.
However, young entrepreneurs continue to struggle to find a strong footing and get the right support to take their business forward, says Barisha Rabbe, Senior Manager, BYLC Ventures.
"We provide the ideal platform for young entrepreneurs. Apart from mentorship and networking support, we contribute to growing and scaling their ideas into sustainable businesses," he added.
Applications for the fifth cohort are open until 24 June. Interested applicants can visit BYLC Ventures' website (https://bylc.org/ventures/) to learn more.