Bangabandhu Innovation Grant for entrepreneurs, innovators: Palak

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DHAKA, June 9, 2021, (BSS) – State Minister for Information and Communication Technology Junaid Ahmed Palak said that government introduced Bangabandhu Innovation Grant (BIG) to help young entrepreneurs and inventors build a digital Bangladesh.

The state minister said this at the virtual inauguration of “Bangabandhu Innovation Grant (Big) 2021” organized by the Information and Communication Technology Department today, said a release.

The state minister said, “Bangladesh has been established as a potential destination for entrepreneurs and innovators to the world. More than 7,000 startups and innovators from 57 countries including Bangladesh have participated in the BIG Competition.”

The state minister said that a total amount of Tk 100 crore will be invested among 50 startups from ‘Startup Bangladesh Company Limited’ in the Mujib Year.

“The 1st prize of Bangabandhu Innovation Grant will be a grant of 1 lakh US dollars. Also, 10 startups from different countries of the world have been selected in the Bangabandhu Innovation Grant Competition, who will be given Tk 10 lakh.” Palak said.

The initiative has been taken so that the innovators don’t have to worry about investing and financing innovative work, he added.

The state minister said 300 schools of the future are being set up in the country to prepare the future generation by imparting basic knowledge or basic ideas about Frontier Technology.

“64 Sheikh Kamal IT Training and Incubation Centers are being set up in the country so that the youth can create self-employment in the area. Sheikh Hasina Institute Frontier Technology will be established to create technologists and innovators so that Bangladesh can lead the world in the field of technology by 2041,” Palak said.

Praising the determination of the entrepreneurs who are delivering services to people’s homes in the wake of the ongoing global epidemic Palak said, “Startups like E-Valley have set a precedent for success. Big groups are now interested in angel investments.”

The press conference was presided over by Perth Pratim Deb, Executive Director, Bangladesh Computer Council.

NM Ziaul Alam, Senior Secretary of ICT Department, Abdur Rakib, Project Director of Idea Project, Mohammad Russell, CEO of e-Valley, Mohammad Liaquat Ali, Executive Director of Walton Digitech and Tina F Jabeen, Managing Director of Startup Bangladesh also spoke, among others, at the meeting.

It was informed at the press conference that after the campaign in 142 countries including Bangladesh in the Big-2021 competition, more than 7,000 startups applied from home and abroad at the initial stage from where a total of 255 projects from 56 countries were accepted at the international level.

Out of them, 46 startups will be taken to the “Big 2021 Grand Finale”.

In the end, the best start-up will receive a special award and the prize money.

There are plans to organise a gala event of “Bangabandhu Innovation Grant 2021” in September 2021.