Startup Bangladesh Limited

Startup Bangladesh Limited
Formation2020
HeadquartersDhaka, Bangladesh
Region served
Bangladesh
Official language
Bengali
Websitewww.startupbangladesh.vc

Startup Bangladesh Limited is a venture capital fund founded and owned by the government of Bangladesh.[1]

History

Startup Bangladesh Limited was established in March 2020 as a startup venture capital fund under the Information and Communication Technology Division of the Ministry of Posts, Telecommunications and Information Technology.[2] The Division sought 500 million BDT from the Ministry of Finance to launch the company.[3]

To celebrate Sheikh Mujibur Rahman's 100th birth anniversary, Startup Bangladesh Limited launched the ShotoBorshe Shoto Asha project to provide 5000 million BDT in funds to startups in 2021.[4] Startup Bangladesh Limited invested 50 million BDT in Chaldal in 2022.[5] It invested 20 million BDT in January 2024 in Hishab Technologies Limited, an AI startup.[6]

In July 2024, Startup Bangladesh Limited canceled its 50 BDT million investment proposal for the 10-Minute School without stating a reason.[7][8] The decision follows public posts by 10 Minute School CEO Ayman Sadiq supporting the 2024 Bangladesh quota reform movement.[7][9] His viral posts and protest statements came after violent clashes at the University of Dhaka involving quota protesters.[7] This was reversed after the fall of the Sheikh Hasina led Awami League government.[10]

Startup Bangladesh Limited announced in January 2025 that it had invested 111 million BDT in startups over the past six months, supporting established names like 10 Minute School, ShareTrip, and Sheba Platform; and new ventures like ParentsCare and Dubotech Digital.[11] It also came out that during the Awami League government rule, Startup Bangladesh Limited denied funding to businesses who were not close to the government.[12][13]

References

  1. ^ Johnson, Harper (2025-04-08). "Bangladesh Bank announces Tk 900cr fund for startups". KillerStartups. Retrieved 2025-04-09.
  2. ^ "Startup Bangladesh Limited - Govt. Sponsored Venture Capital Bangladesh". Startup Bangladesh Limited. Retrieved 2025-04-09.
  3. ^ "ICT Division seeks Tk 50cr for Startup Bangladesh Co". The Daily Star. 2020-01-02. Archived from the original on 2023-12-10. Retrieved 2025-04-09.
  4. ^ "Startup Bangladesh announces Tk 15cr fund for seven startups". The Daily Star. Retrieved 8 April 2025.
  5. ^ "Chaldal raises Tk 5 crore follow-on investment from Startup Bangladesh". The Daily Star. Retrieved 8 April 2025.
  6. ^ "AI startup Hishab gets BDT 2cr investment from Startup Bangladesh". The Daily Star. Retrieved 8 April 2025.
  7. ^ a b c "Startup Bangladesh cancels Tk 5cr fund for Ayman Sadiq's 10 Minute School". The Daily Star. 16 July 2024. Retrieved 8 April 2025.
  8. ^ "Startup Bangladesh cancels 5C fund for 10 Minute School". Dhaka Tribune. Retrieved 2025-04-09.
  9. ^ "Startup Bangladesh cancels Tk 50m investment for 10 Minute School". bdnews24.com. Retrieved 2025-04-09.
  10. ^ "10 Minute School regains Tk5cr investment from Startup Bangladesh". The Business Standard. 2025-01-16. Retrieved 2025-04-09.
  11. ^ "Startup Bangladesh invests BDT 11.10 cr in local startups". The Daily Star. 2025-01-19. Archived from the original on 2025-03-28. Retrieved 2025-04-09.
  12. ^ "Startup founders speak of bias and discrimination by former govt". Dhaka Tribune. Retrieved 2025-04-09.
  13. ^ "Protecting innovation: The need to keep politics out of startup funding". The Daily Star. 2024-09-11. Archived from the original on 2024-09-11. Retrieved 2025-04-09.
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