The Information and Communication Technology (ICT) sector in Bangladesh has emerged as a key driver of economic growth and development, propelled by visionary initiatives and strategic interventions aimed at harnessing the transformative power of technology. Vision 2041 sets forth an ambitious roadmap for Bangladesh, articulating a vision of a knowledge-based economy driven by digital transformation, innovation, and human capital development. Central to this vision is the pivotal role played by the Bangladesh Hi-Tech Park Authority (BHTPA), a dynamic institution dedicated to catalyzing the development of the ICT industry and nurturing a vibrant ecosystem of innovation and entrepreneurship. As the nation strives to achieve developed country status by its 50th anniversary of independence in 2041, the ICT sector emerges as a linchpin in realizing this vision, offering unprecedented opportunities for growth, job creation, and sustainable development.
Amidst this transformative landscape, the Bangladesh Hi-Tech Park Authority (BHTPA) emerges as a beacon of progress, spearheading initiatives to propel the ICT sector forward and position Bangladesh as a global hub for technology and innovation. Established under the Ministry of Information and Communication Technology, BHTPA is tasked with developing and managing hi-tech parks across the country, creating specialized zones equipped with world-class infrastructure and facilities to attract domestic and international investors, technology companies, and start-ups. Through its multifaceted approach, BHTPA endeavors to foster a conducive environment for the ICT industry to thrive, driving innovation, facilitating technology transfer, and promoting collaboration between industry stakeholders, academia, and government agencies. The authority’s initiatives encompass a wide spectrum of activities, including the establishment of incubation centers, provision of investment incentives, promotion of research and development, and facilitation of international partnerships.
As Bangladesh embarks on its journey towards Vision 2041, the ICT sector assumes greater significance as a catalyst for economic transformation and sustainable development. By harnessing the collective efforts of government, industry, and civil society, and leveraging the expertise and resources of institutions like the Bangladesh Hi-Tech Park Authority (BHTPA), Bangladesh is poised to realize its vision of a smarter, more prosperous future driven by innovation, technology, and human capital.
The Government has declared ‘Vision 2021’ with a target to make Bangladesh as a middle income country using Information and Communication Technology.
Government has taken various initiatives to achieve the target. Among them conducive business environment for Hi-Tech Parks, Software Technology Park and IT Incubation Centers is mentionable. The purpose of the act is to the establishment of the Bangladesh Hi-Tech Park Authority to make provision for the establishment and expansion of Hi-Tech industry for creation, management, operation and development of Hi-Tech.
The government plans to make Bangladesh a hardware-software manufacturing country and want to earn US$5bn annually and create 1 million jobs by 2021 from the industry. Bangladesh aims to become a middle income country through the success of the IT industry.
Bangabandhu Hi-Tech City (BHTC) is the first full pledged special economic zone for for IT/ ITES and hi-tech industry in Bangladesh.
Startup Information
According to a study done by the Progressive Policy Research Company, startups create more than 3 million jobs each year and remain at 3 trillion in market value. In the local context, these enterprises can contribute to the domestic economic momentum by creating more jobs through their innovation, playing an important role in changing the local economy and education system.
For a developing country like Bangladesh, this unique approach of the entrepreneurship ecosystem is going to develop a culture of digital adoptions in every aspect of life, which will contribute to the country’s vision to become a middle-income country. The middle class is also growing at a strong 10% per annum and expected to reach 34 million by 2025.
Investment Initiatives
The startup ecosystem which mainly formed around Dhaka and Chattogram has been growing on the back of sectors like IT, e-commerce and digital marketing.
Gradually, the focus has been shifted to ride-sharing and logistics due to the rising consumer demand as well as recent investments received by industry players: Pathao (US$12 Mn from Go-Jek), Shohoz (US$15 Mn from Golden Gate Ventures), Deligram (US$2 Mn from Skycatcher).
Fintech company bKash, with an active user base of 31 Mn and investment from Ant Financial, is changing Bangladesh’s mobile financial sector and encouraging new entrants.
Driven by the recent shifts in technology and business processes the demand for online courses is growing — giving rise to Edutech startups.
Developing Entrepreneur Supply-chain
Startup Idea Pitching: Bangladesh Hi-Tech Park Authority has taken initiative to build startup cultures at the regional level by organizing focused startup competitions only for the regions. So far, in the first Startup Idea Pitching Program, Bangladesh Hi-Tech Park Authority has connected 2000+ startups from 5 regions (Rajshahi, Jessore, Khulna, Chittagong and Sylhet) from which 143 startups have already received free space, utilities in the parks located in those cities. Along with infrastructure support, these startups are also going to receive one year long dedicated mentoring support, curated communications with the potential VCs. So, then they can graduate as a sustainable business within one year and make room for the next batch.
Keeping the culture development in mind, Bangladesh Hi-Tech Park Authority is working to provide skill-up, grooming, and mentoring support to the rest of the startups from the idea pitching to become ready for the next intake. This will allow Bangladesh Hi-Tech Park Authority to have a regional basis potential list of entrepreneurs and can plan supporting programs in years to come.
Sheikh Kamal IT Business Incubator set up at Chittagong University of Engineering and Technology
Unibator (University Based Incubator)
According to the Data of Bangladesh Bureau of Statistics, about one million (10 Lac) students enter the job market every year after graduation. As per the graduation rule, all graduating students must submit at least one thesis or similar academic project to be eligible for the completion of the graduation. But in almost all cases, these projects or concepts/theories or ideas remain confined to the report with no practical use of the ideas. As a result, students tend to choose repeated topics, performing a copy paste, rather than working on new concepts or innovative ideas.
The Unibator, housed within leading universities across the country, serves as a platform for students and researchers to incubate and commercialize their innovations, driving technology transfer and fostering collaboration between academia and industry. Unibator program play a crucial role in providing aspiring entrepreneurs with the support, mentorship, and resources needed to turn their innovative ideas into successful businesses.
Through the UNIBATOR program, Bangladesh Hi-Tech Park Authority (BHTPA) hopes to bring a change in the thinking process of our educational institutions and upcoming graduate level students regarding the thesis / academic projects. The name UNIBATOR has been derived from the statement, ‘University Incubator’ that will be connecting graduating level students to guide them to pick up topics to find solutions to national challenges. So far we are in the first phase of the Unibator Program.