Bangladesh Bank has initiated a special startup fund amounting to Tk 8.0 to Tk 9.0 billion to offer financial assistance to new and innovative entrepreneurs.
Only startup companies will receive capital assistance from this fund. The money will be distributed through commercial banks, as stated by Bangladesh Bank Governor Dr Ahsan H. Mansur.
The governor made these remarks on Monday, during the Startup Connect session at the Bangladesh Investment Summit 2025, organized by the Bangladesh Investment Development Authority (BIDA) at the InterContinental Hotel in Dhaka.
The Governor also mentioned that a notification regarding this initiative will be issued soon.
On the opening day of the four-day summit, young entrepreneurs and investors, both local and international, took part in the session named "Empowering Innovation Connecting Opportunity."
In the keynote address, Tanveer Ali, a Canadian entrepreneur of Bangladeshi origin, said, “The young population of Bangladesh is a huge source of potential. In a fast-growing economy like Bangladesh, there is a rising demand for innovative startup initiatives. However, compared to competing countries, investment in this sector is still low in Bangladesh.”
Chowdhury Ashiq Mahmud bin Harun, Executive Chairman of Bangladesh Investment Development Authority (BIDA), said, “The biggest obstacle for new entrepreneurs is the complexity of government processes. Entrepreneurs often face difficulties due to bureaucratic red tape, such as the renewal of trade licenses.”
The Chairman of BIDA stated, “The country is not lacking in innovative talent, but many young people are unable to start their ventures due to the lack of funding. This special fund will help address this issue.”
The co-founder of LinkedIn addressed the event virtually. Other participants in the panel discussion included Faiz Ahmed Taiyeb, Special Assistants to the Chief Advisor on ICT, and ICT Secretary Shish Haider Chowdhury.
The organizers informed that more than 500 foreign investors from 40 countries are attending the summit.
They also noted that these investors will be taken on a tour of the economic zones in Chattogram and Narayanganj.
Bd-pratidin English/ Afia
