Are you an aspiring entrepreneur looking to turn your idea into a successful startup?
Are you an investor interested in supporting innovative ventures?
Or are you simply passionate about driving change and fostering innovation?
Join us in our mission to build a thriving startup ecosystem in Bangladesh. Let’s drive together to unlock the potential of entrepreneurship and drive sustainable growth and prosperity for all.
Welcome to the forefront of innovation and entrepreneurship in Bangladesh, where Bangladesh Hi-Tech Park Authority (BHTPA) is catalyzing the growth of startups and fostering a dynamic investment landscape.
At the heart of the BHTPA lies a commitment to nurturing a vibrant ecosystem where startups can thrive and innovate. Through a range of initiatives, the project aims to provide aspiring entrepreneurs with the support, resources, and opportunities they need to turn their ideas into successful ventures.
Startup fundings:
In 2023, the global startup funding landscape showcased a promising uptick, marking a 7% increase to reach USD 73 billion, a beacon of hope amidst localized challenges. Notably, local investors in Bangladesh demonstrated remarkable confidence, spearheading 84% of total investments, underscoring their pivotal role in driving regional entrepreneurial ecosystems. Early-stage funding retained its robust momentum, maintaining its stronghold by constituting 62% of total investments, exhibiting stability with no quarter-on-quarter fluctuations. This steadfast support signals a buoyant trajectory for burgeoning ventures, laying a solid foundation for sustained growth and innovation (Ref.: Bangladesh Startup Investment Report 2023
BHTPA’s Investment Initiatives:
Recognizing the potential of startups as engines of economic growth, BHTPA has instituted a range of investment initiatives aimed at catalyzing innovation and entrepreneurship. Through strategic partnerships and targeted funding programs, BHTPA provides crucial support to early-stage startups, empowering them to scale their operations and realize their full potential. From seed funding to venture capital investments, BHTPA’s initiatives cover the entire spectrum of startup financing, ensuring that promising ventures receive the resources they need to thrive.
One of the primary challenges faced by startups is access to capital. BHTPA addresses these challenges by facilitating access to funding through various channels, including venture capital firms, angel investors, and government grants. By connecting startups with investors and providing guidance on fundraising strategies, the project helps bridge the funding gap and fuel the growth of innovative ventures.
In 2023, Government-backed venture capital firm, Startup Bangladesh Limited, is set to inject a fresh Tk100 crore into the growing startup sector of the country. The company aims to channel this new investment into 46 selected startup enterprises (Ref.: The Business Standard, 13 Nov 2023 ).
Recently, there has been a notable shift towards ridesharing and logistics, driven by increasing consumer demand and substantial investments from industry giants. Noteworthy investments include Pathao securing US$12 million from Go-Jek, Shohoz receiving US$15 million from Singapore-based Golden Gate Ventures, and Deligram obtaining US$2 million from Skycatcher. Additionally, bKash, a prominent fintech company boasting an active user base of 31 million and backed by investment from Ant Financial, is revolutionizing Bangladesh’s mobile financial sector and inspiring new market entrants. Furthermore, with recent advancements in technology and business models, there has been a surge in demand for online courses, leading to the emergence of innovative Edutech startups.
Central to BHTPA’s investment philosophy is the empowerment of entrepreneurs, equipping them with not just financial resources but also mentorship, networking opportunities, and access to state-of-the-art infrastructure. By fostering a collaborative ecosystem where startups can learn, grow, and connect with industry leaders and investors, BHTPA creates an enabling environment conducive to innovation and success. Moreover, BHTPA’s emphasis on inclusivity ensures that startups from all backgrounds and sectors have equal access to support and opportunities, democratizing the entrepreneurial landscape and driving broader economic development.
BHTPA’s investment initiatives lies a commitment to driving technological excellence and innovation-led growth. By focusing on emerging technologies such as artificial intelligence, blockchain, and biotechnology, BHTPA positions Bangladesh as a hub for cutting-edge research and development, attracting talent and investment from around the globe. Through strategic collaborations with academic institutions, industry partners, and international organizations, BHTPA fosters a culture of innovation that propels Bangladesh to the forefront of the global tech landscape.
In the dynamic landscape of innovation and entrepreneurship, the support and investment initiatives provided by governmental bodies play a pivotal role in fostering growth and sustainability. Bangladesh Hi-Tech Park Authority (BHTPA) stands as a beacon of such support, nurturing the country’s burgeoning startup ecosystem through strategic 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.
But beyond these cities, entrepreneurial culture is not that vibrant and result oriented. In an effort in finding the root cause, Bangladesh Hi-Tech Park Authority has conducted a study on 100 startups located across the country and has come up with challenges as follows:
High office cost: Nine out of the ten startups identified the high cost of having an office to run their operation as a major challenge
Growing utility cost: Founders have also pointed out the increasing cost of the utilities that creates a barrier into their regular cash flow in the early stage
Little to no mentoring and incubation support beyond Dhaka and Chittagong: Startups formed in Dhaka and Chittagong get priority from the hubs created by different incubators and venture capitals and other private sources. But beyond these cities having a call of mentorship or incubation barely takes place. As there are no hubs those can work as a mutual place for the founders and mentors to establish a relationship
Lack of entrepreneurial culture: As the support functions are not available, the entrepreneurial culture beyond the city areas have not been developed. As a result, a large chunk of youths are not able to utilize their full technological potential.
National startup programs are too competitive for local startups to make a place: Most of the startup’s competitions are organized nationally, where local level entrepreneurs coming up with local solutions hardly make a place. As a result, entrepreneurs in the regional level are not having enough room to be mature and compete nationally.
Realizing the potential, Bangladesh Hi-Tech Park Authority (BHTPA) is taking various initiatives to create new entrepreneurs to create jobs through promoting and encouraging entrepreneurship, therefore, we are developing Start-ups in the Hi-Tech Parks located across the country. With dedicated space, free internet, electricity, free utilities, and other fringe benefits designed only to curate Bangladeshi and global startups. To develop a collaborative approach to develop world class startup ecosystem for local and international startups in the Hi-Tech Parks BHTPA is coordinating following activities:
- Outreach Training Programs, organizing of the training, workshops, seminars and mentoring sessions for the Bangladeshi Startups
- Quarterly sessions with the VCs and accelerators / incubator networks located globally to help Bangladeshi startups to obtain seed and growth stage.
- Supporting development of the startup ecosystem in Bangladesh with policies and legal issues by organizing events on such pressing issues.
- Opening up new markets for Bangladeshi Startups and vis-a-vis
- So far, more than 100 startups have received one-year in-house incubation facilities from the BHTPA. This incubation facility is available to avail by prospective entrepreneurs in all hi-tech parks across the nation.