DHAKA, March 31, 2021 (BSS) – Startup Bangladesh Ltd signified the birth centennial of Father of the Nation Bangabandhu Sheikh Mujibur Rahman and the Golden Jubilee of Bangladesh by investing Taka 100 crore for 50 startups for 2021 year.
Marking the occasions, Startup Bangladesh Ltd under the Information and Communication Technology (ICT) Division launched a programme named “ShotoBorshe Shoto Asha” in city’s Agargaon area today to invest Tk 15 crore for seven startups as part of its first series of investments, said a press release.
State Minister for Information and Communication Technology (ICT) Division Zunaid Ahmed Palak was present as chief guest at the event.
Deputy Minister for Education Mohibul Hasan Chowdhury and Principal Coordinator for Sustainable Development Goals (SDG) Affairs at the Prime Minister’s Office (PMO) Zuena Aziz were special guests.
Startup Bangladesh Limited is the flagship venture capital fund of the ICT Ministry.
Under the visionary guidance of Prime Minister Sheikh Hasina, Startup Bangladesh – the first and only venture capital fund sponsored by the Bangladesh government, started its journey in March, 2020 with an allocated capital of Tk 500 crores.
The seven startups that today received Tk 15 crore (1.75 million) as part of first series of the investments are Pathao (ride-sharing/logistics), Dhaka Cast (health-tech), Moner Bondhu (mental health and Wellbeing), Chaldal ( e-commerce), Eduhive (education-tech), Sheba.xyz (domestic services and SME) and Intelligent Machines (software services), the release added.
The event was told that the startups received this fund to scale up their production, improve the quality of goods and services and develop the supply chain and marketing strategies.
N M Zeaul Alam, Senior Secretary, ICT Division and Chairman, board of directors of Startup Bangladesh Ltd, was the guest of honour.
Zunaid Ahmed Palak officially launched the “ShotoBorshe Shoto Asha” and declared the investment of this venture capital fund.
Through this initiative, he said, the government created a national entrepreneurship platform to support the startup ecosystem.
“Startups could play a crucial role in addressing the market needs, which will serve as the foundation for far-reaching consequences in the GDP’s overall growth. The tech-solutions provided by startups could support the nation for achieving Sustainable Development Goals by 2030,” said Palak.
Senior Secretary, ICT Division and Chairman, board of directors of Startup Bangladesh Ltd, N M Zeaul Alam, said that the organization would develop the entrepreneurial ecosystem and connect entrepreneurs and startups to foster collaboration with all the stakeholders.
Speaking as a guest speaker, Ki-Hak Sung, Chairman, and chief executive officer (CEO) at Youngone Corp, said, “I have been associated with Bangladesh for the past 36 years and am excited to be in this growth journey ahead.” The company is eyeing to invest USD 1 Billion over the next few years in Bangladesh.”
In his address, Chris Burry, the Co CEO of US Market Access Inc., wished all the success of Startup Bangladesh Limited in the coming days.
Mustafa Usman Turan, Turkish Ambassador to Bangladesh, said his country is keen to develop partnerships in the information technology (IT) and e-commerce sectors of Bangladesh.
Tina F Jabeen, Managing Director and CEO, Startup Bangladesh Ltd, said, “Among all frontier markets, Bangladesh holds the most promising opportunity for venture capital and private equity investments.