300 startups to get right up to Tk 10cr each
The government will provide up to Tk 10 crore to promising start-ups in Bangladesh, said State Minister for ICT Zunaid Ahmed Palak Yesterday.
The government will give the fund to 300 startups, including 200 this year, in the sort of equity investment, he said.
"We will also provide free office space to the startups in 39 hi-tech parks for half a year," he said at an event on the inclusion of micro-merchants in to the digital marketplace.
The US Capital Expansion Fund (UNCDF) organised the programme at The Westin Dhaka to talk about learnings gained from an initiative titled "Merchants Development Driving Rural Marketplaces (MDDRM)".
The initiative was taken in 2017 to aid micro, and small retail shops to use technologies and participate in the online marketplace.
Under a European Union-funded initiative, the UNCDF has reached out 20 lakh retail micro-merchants in Bangladesh, according to a press release.
State-sponsored capital raising company Startup Bangladesh Ltd and local startup Sheba.xyz are likely to sign a good partnership agreement to provide microloans to little and medium business owners without security, said Palak.
The government is expanding initiatives such as the MDDRM by using advancement partners and investors to make sure that Bangladesh does not lag in age digital economy, he said.
Citing the Fourth Commercial Revolution, Palak explained the government had formulated five national strategies in robotics, block-chain, Net of Things, Artificial Intelligence, and microprocessor design capabilities to get ready for that.
"This will help create a sound foundation for our regional startups," he said.
Senior Secretary of Financial Institutions Division Md Ashadul Islam, Head of Cooperation of the Delegation of the EU Maurizio Cian, and United Nations Development Programme Resident Representative Sudipto Mukerjee also spoke at the function.
