State of the Ecosystem for Youth Entrepreneurship in Bangladesh 2021

Author Topic: State of the Ecosystem for Youth Entrepreneurship in Bangladesh 2021  (Read 1524 times)

Offline kamruzzaman.bba

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Bangladesh has shown tremendous economic growth in the past decade and is expected to become an upper-middle-income country by 2031. At the same time, the country faces a magnitude of challenges related to the inclusivity and
sustainability of this growth. The COVID-19 pandemic has further exacerbated these challenges, hitting the most vulnerable - including women, minorities, and young people - hardest.

As of 2020, out of the 165 million Bangladeshi people, approximately 63.7 percent were under the age of 35. However, Bangladesh will become an ageing society on the 2029 and window of opportunity to capitalise on Bangladesh’s
demographic dividend should not be wasted. To amplify the impacts of steady economic growth, achieve targets related to the Sustainable Development Goals (SDGs) by the year 2030, and address the challenges related to the inclusivity and sustainability of the economic growth, it is necessary to support the human development and economic empowerment of the large youth population.

Unemployment is one of the key challenges facing Bangladesh’s young people. Youth entrepreneurship is a potential solution to address this challenge and achieve positive impacts at scale. Entrepreneurship does not only provide young people with opportunities to achieve financial independence but enables them to create employment and support their peers and communities through their business practices.

United Nations Development Programme (UNDP) – under the Youth Co:Lab initiative co-led by UNDP and Citi Foundation - the Islamic Development Bank (IsDB) and Startup Bangladesh Limited have commissioned this first-of-itskind study to strengthen the understanding of the current state of the ecosystem for youth entrepreneurship in Bangladesh and provide data-driven recommendations to develop the ecosystem over the coming years.

This study has estimated that there are 3.8 million young entrepreneurs in Bangladesh. Understanding the challenges and opportunities within the entrepreneurship ecosystem is vital for amplifying the potential of youth entrepreneruship and support these youth-led enterprises in growing and developing their businesses. The study produced a comprehensive assessment of
challenges and opportunities within the six central domains of youth entrepreneurship ecosystem by incorporating youth and inclusion lenses in the analysis throughout

For Details:
Md. Kamruzzaman Didar
Assistant Professor & Head
Department of Innovation and Entrepreneurship
Faculty of Business & Entrepreneurship