Why it’s the right time to invest in the Bangladesh Startup Scene!
M Fayaz Taher
Published on June 24, 2018
There has been quite a buzz going on in the Bangladesh Tech scene over the past year. Home Grown companies like Pathao have raised at a valuation more than $100 million while Bkash got investment from Ali Pay, and companies like Bongo, Sheba, Sindabad dominate in their respective industries. Alibaba has also recently bought out Daraz in the sub-continent. The tech giants are making a presence in Bangladesh.
Venture Capital fund is also increasing in Bangladesh especially with the Government also boosting with its own grant funding and venture fundind to expediate volume of startup companies building for the local market. Other VCs out of India and South East Asia are increasing their frequency of visits to the market to meet founders and seek out the opportunities.
At the policy level, the government has been pro technology with giving tax benefits and introducing a small cap exchange for tech companies to go public. They have also reduced internet costs for end consumers over the last few years and encourage the telecom operators to build out further infrastructure to increase the internet coverage in Bangladesh. This year the telecom operators like Grameenphone, Robi and Banglalink also launched 4G service to increase the speed. Live TV Services like Bioscopelive.com can now be streamed much better than before.
It is the perfect opportunity to know more on how to get involved in the startup scene in Bangladesh. Accelerators like Grameenphone Accelerator powered by Startup Dhaka are accelerating 10 teams every year while many NRBs are returning to start their own companies or join a startup.