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Elevating our start-up ecosystem to new heights




Start-ups play an undeniable role in driving economic growth and societal change in developed economies, with companies like Apple, Facebook, and Tesla having started as small ventures. Start-ups bring people together to develop scalable innovations. However, in Bangladesh, there is skepticism about the potential of such ventures, especially evident in the investment levels they receive. In 2023, Bangladeshi start-ups secured $73 million, with approximately 70 percent of this funding coming from foreign investors, while Indian start-ups attracted over $11 billion. On a per capita basis, Bangladesh invested 43 cents compared to India's $7.76, highlighting an 18-fold difference.

Before delving into this disparity, it’s crucial to understand why start-ups need investment. Bangladeshi start-ups are leveraging new technologies to enhance traditional processes. Successful innovations can have a significant impact on the GDP by reducing fuel imports, combating climate change, minimizing food waste, and improving healthcare. In education, start-ups are enabling students in remote areas to access quality coaching through internet-enabled devices, effectively enhancing the country's future human capital. The payment platform bKash has streamlined commerce and added considerable value to the lives of many Bangladeshis.

These achievements require the dedication of some of our brightest minds. While we celebrate when a Bangladeshi secures a high-paying job at Google, we often overlook that local start-ups compete for the same talent. Google offers high salaries expecting substantial returns, and although living costs in Dhaka are lower than in California, the opportunity cost for our talented individuals is significant.

Start-ups also need to gather data and conduct experiments to refine their ideas, which necessitates investment without guaranteed success. Entrepreneurs must hire skilled individuals and take the risk of developing these systems, which can be time-consuming and require many intelligent people. Like the Padma Bridge, start-ups provide tremendous value only once they are completed and can be scaled profitably.



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