Bangladesh Bank Launches Tk 9.0 Billion Startup Fund

Industry: Start-Up
Economic Tag: Central Bank

Bangladesh Bank has announced a Tk 9.0 billion startup fund aimed at accelerating economic growth by providing capital to new enterprises. The fund will be distributed through commercial banks and is part of the government’s initiative to foster innovation and investment in the startup sector. Bangladesh Bank Governor Dr. Ahsan H Mansur introduced the plan at the ‘Startup Connect’ plenary of the Bangladesh Investment Summit, attended by local and international investors. The fund’s goal is to help create at least 10 unicorns like bKash in the future. The event also highlighted challenges such as difficulties in obtaining trade licenses. BIDA Executive Chairman Ashik Mahmud Bin Harun emphasized the government’s efforts to simplify the business environment, while Shish Haider Chowdhury of Startup Bangladesh Limited reported that nearly $1 billion has been raised, with 76% coming from venture capital. The summit brought together over 70 speakers and 25 venture-capital firms to promote innovation in Bangladesh.

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