Huge potential for start-ups in Bangladesh
Despite having so many reasons that let start-ups flourish, Bangladesh was lagging behind the peer economies in terms of start-ups contribution to the GDP or the amount of investments they receive.
The sheer size of population - 62% of which is aged below 35 years, 90% mobile phone penetration, 39% internet penetration are the factors that built the ground offering ample opportunities for a start-up boom.
However, the $112 million start-up investment in Bangladesh last year was only 0.03% of the GDP, which was 0.1% in Pakistan and 0.6% in India.
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The government, rightly addressing the potential, showed its commitment for a strong start-up ecosystem. Start-up Bangladesh with a Tk500 crore venture capital fund and the iDEA Project that mentors start-up entrepreneurs are reflecting part of that.
With the supportive role of the government, Bangladesh has already got unicorn start-ups that are valued over one billion dollar each.
Prime Minister Sheikh Hasina's recent announcement to help build 50 unicorn start-ups by 2041 further reflects the strong government commitment for a flourished start-up ecosystem.
Women, making half of the population, should be encouraged and facilitated to be an equal part of the journey towards smart Bangladesh.
Ziaul Karim, head of Communications and External Affairs, EBL
