10 Minute School regains Tk5cr investment from Startup Bangladesh

The digital education platform, 10 Minute School, has regained the Tk5 crore investment allocation that was previously cancelled by the Awami League government.

Startup Bangladesh Ltd, the government's venture capital company, has recently decided to reinstate this allocation, as announced in a press release.

A senior official from Startup Bangladesh, speaking on condition of anonymity, clarified that the board never officially cancelled the decision to invest in 10 Minute School. "The investment decision was suspended in July due to special circumstances," the official said.

"At that time, the board made the decision under considerable pressure. However, the situation has now changed, and there is no logical reason to back out from investing in a promising organisation like 10 Minute School. Therefore, the original decision has been reinstated." 

Ayman Sadiq, the founder of 10 Minute School, told TBS that the former ICT state minister, through a Facebook post, had announced the cancellation of the investment without any prior discussion.

"In reality, there was no change in the agreement between 10 Minute School and Startup Bangladesh," Ayman said. "Since then, the situation has changed, and now Startup Bangladesh is proceeding with the investment as per the original agreement."

According to the agreement, the Tk5 crore will be disbursed in two phases, with the first instalment of Tk2.5 crore already released.

In July 2024, Ayman expressed support for the student-led anti-quota movement on Facebook, calling for reforms and protesting against attacks by the Chhatra League at Dhaka University.

On 14 July, Ayman posted on Facebook, "We want quota reform. Merit should be the biggest quota." After the attack at Dhaka University, he wrote, "A bloodied Dhaka University! Why is there blood on my campus? I protest."

Subsequently, on 16 July, the then state minister for Posts, Telecommunications, and Information Technology, Zunaid Ahmed Palak, announced in a Facebook post that the Tk5 crore investment in 10 Minute School had been cancelled. "The Tk5 crore investment proposal for 10 Minute School has been cancelled by Startup Bangladesh Limited." 

Later, in a meeting with journalists, Palak explained that the reason for cancelling the allocation was the breach of the agreement. "If anyone raises controversy about Bangladesh, the Liberation War, and Bangabandhu, or takes a position against these ideals, the government will take action," he added.

10 Minute School, established by popular social media personality Ayman in 2015, has been a significant player in the digital education sector. Since its inception, the platform has gained recognition both domestically and internationally.

In the past six months, Startup Bangladesh Limited has committed a total of Tk11.10 crore in investments across various innovative startups. Of this, Tk9.025 crore has already been disbursed to these companies.

From September 2024 to January 2025, Startup Bangladesh made new investments in 9 startups, with a special focus on social and environmental impact. Among these startups are the edtech platform 10 Minute School, the digital service platform Sheba Platform Limited, and the travel tech startup ShareTrip.

Other invested startups include the healthcare provider for the elderly, ParentsCare Limited, the underwater robotics company, Dubotech Digital Limited, the distribution management system for retail brands, Active Technologies Limited, the English learning platform for children, English Champ Limited, authorised Amazon FBA course provider, Area 71 Ventures Limited, and the online book sales platform BookShinary Limited.