If you have business ideas on your mind but you have never really figured out how to get even started, Connecting Startups Bangladesh is looking for you to incubate and make your ideas reality. They will provide seed funds, free space for office, mentorship support, business coaching and many more, which many startups fall short of nowadays. This is the first ever initiative taken for the startups of Bangladesh supported by the government with the aim of contributing to vision 2021 - spurring the potentials of 1000 startups.
Connecting Startups Bangladesh is organised by the ICT Division of the Government of Bangladesh, Bangladesh Association of Software and Information Services (BASIS) and Bangladesh Hi Tech Park Authority (BHTPA). The programme will give startups exposure to the venture capitalists/investors. Nonetheless, the startups will get all kinds of support they need to make their ideas a reality.
The programme will focus on two types of startups-- mainly-startups at idea stage and startups at growth stage. Anyone who has idea but has not implemented yet will be part of idea stage of the competition. Idea has to be implemented by a team consisting of at least two members, of which 50% team members will work for full hours. Any idea, either for profit or not-for profit, will be transformed into business from idea stage. All you need is to have sheer determination and highest level of dedication. Any product or idea which is ready to be offered in the market but the entrepreneur now needs financial, management and other support for scaling up will be considered for growth stage. But, the growth stage startups should never be more than two years old and also the startups should not have an investment more than $5000. The companies are required to have a minimum viable product (MVP) to apply at growth stage level.
All interested startups are to apply through the website (www.connectingstartupsbd.net). Top applicants in each category will be called for presentation based on the score of the committee. From these toppers, ten applicants from each category (both idea and growth stage) will be asked for a final presentation in front of a very highly powered panel. The panel will include venture capitalists and investors. The panel will be formed of distinguished persons from relevant fields. Boot camps, demo sessions and grooming sessions will be offered to all the startups before final selection. Finally, top five from each category will be selected for incubation and mentorship support at the Hi-Tech Park/ STP. Non-IT startup firms can also apply. But, the startups must incorporate some form of ICT tool at any process of their processes. Startup teams should also include at least one person from technical background and the other from business background. There is no sort of limitations in the number of team members.
Startup incubator is a proven and successful concept in nurturing growth of new businesses throughout the world. It simply enhances community collaboration and builds communication and resources to those entrepreneurs who need. For Bangladesh attempting to ensure higher GDP growth through maintaining an air of entrepreneurship, Connecting Startups Bangladesh is a crucial consideration.
Ideas are nothing if you cannot implement it. Implementation of ideas is all that makes the difference. Connecting Startups Bangladesh can give your startup an edge. If you are still not sure of seizing this opportunity, remember what Catherine Cook (co-founder of MyYearbook) said to an entrepreneur, "If you want to do it, do it now. If you don't, you're going to regret it." So, what are going to do? Seize the opportunity or regret forever?
The writer is a student of Faculty of Business Studies at University of Dhaka, [email protected]
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