Vibrant startup scene in both countries can enhance cooperation: Pranay Verma

Indian High Commissioner Pranay Verma has highlighted the vibrant startup ecosystems in Bangladesh and India, linking it to both countries' growing emphasis on innovation and technology.

He underlined the potential for Bangladeshi startups to tap into the Indian markets, especially in the northeastern states, and also benefit from the geographical proximity of the two countries.

The High Commissioner emphasised that the startup community in both India and Bangladesh had the opportunity to enhance cooperation, as the two countries explored ways to further enhance the ease of doing business, including trade settlement in local currencies and collaboration on digital payment platforms.

Pranay Verma held an interactive session on May 14 with a group of ten Bangladeshi startups, who just returned home after completing a successful five-day visit to India from May 8-12.

These ten startup companies were the first set from Bangladesh whose visits were arranged under the framework of the "India-Bangladesh 50 Startups Exchange Programme," an outcome of discussions held during the two prime ministers' most recent bilateral summits.  

During the interactive session, the startups outlined the utility of these entrepreneurial exchanges and expressed appreciation for the opportunity this exchange provided them to understand the Indian startup ecosystem. They also got an opportunity to interact with angel investors from India and discuss long-term business partnerships.

The first cohort of ten startups from Bangladesh that visited India were Chaldal, Grit Technologies Limited, SKOOT Ltd, Eduhive, Zantrik, Moner Bandhu, Hello Task, Prescription Bangladesh, Abedok, and My Fuel Pump Ltd.

These startups belong to sectors spanning e-commerce, health, transport and logistics, energy, education and skill development.

In India, they were hosted by the Ministry of External Affairs and the Department for Promotion of Industry and Internal Trade. During their stay, they had an opportunity to be introduced to the "Startup India" initiative and participate in interactive sessions focused on establishing a startup and business model creation process, role of incubator, marketing of projects and services, cyber security and artificial intelligence, including data protection, startup evaluation and methods to secure funding.

This first visit has kickstarted the 50 startups exchange programme between India and Bangladesh, which has the potential of augmenting cooperation in new and emerging areas, cutting edge technology, and flourishing entrepreneurship and innovation.

Under this programme, 50 startups from each of the two countries will visit the other in batches such as the just-returned Bangladeshis.  

The visits will not however be about sightseeing or food vlogging - rather there will be a clear-eyed focus on exploring partnerships, expanding business relations, sharing experience and knowledge and expanding youth and entrepreneurial cooperation.