Experts call for stronger entrepreneurial ecosystem, venture capital support

Bangladesh still lacks a strong entrepreneurial mindset, but the country is now taking structured steps to build one, said speakers at a discussion hosted by BD Venture Limited on Sunday (19 October) at The Westin Dhaka.

The event, titled "Venture Capital in Bangladesh and Its Future Journey," brought together policymakers, bankers, regulators, startup founders, and financial experts to discuss the future of the venture capital ecosystem and the importance of nurturing entrepreneurship.

BD Venture Chairman Mamun Rashid, a former banker and noted economist, said, "Bangladesh has yet to develop the right mindset for entrepreneurship. In Bangladesh, we still don't have a strong entrepreneurial mindset. But look at India — their startup ecosystem has become a global inspiration, especially for North American venture capital and private equity firms. Bangladesh too will one day walk that path."

He added that Bangladesh must create a truly innovative, creative, and optimistic ecosystem where investors and institutions stand beside new ideas and startups.

Bangladesh Bank Executive Director Husne Ara Shikha said the central bank has revised its startup policy and is forming a new venture company in collaboration with 52 commercial banks.

"The name has been finalised. We want this company to serve as a bridge between entrepreneurs and bankers," she said, adding that the central bank is committed to supporting startup growth. "We don't want to take steps that could create controversy. Our goal is to harness opportunities and bring positive change with government support."

Association of Bankers, Bangladesh (ABB) Chairman and City Bank Managing Director Masrur Arefin said banks are working closely with the government to launch the venture capital company soon.

"Around Tk650 crore, equivalent to 1% of banks' profits over the last three to four years, has been set aside as its initial capital. Now it's time to move forward," he added.

Arefin urged international institutions such as the ADB and IFC to guide local banks, noting that the sector's experience in startup investment remains limited. "Even if 10 out of 100 investments succeed, that's progress. Failure is part of the process," he said.

BD Venture's Managing Director Shafique-ul Azam said the company is raising its paid-up capital to expand its investment capacity and strengthen due diligence, portfolio development, and post-investment monitoring.

The event ended with a vote of thanks from Noor A Alam Chowdhury, immediate past chairman of BD Venture.