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Dhaka Tribune

CBAA proposes incubator fund for startups

  • Sought support from the finance ministry
  • Scholarships for students, and skill development initiatives were discussed
Update : 22 Mar 2024, 06:11 PM

The Executive Committee of the Canada Bangladesh Alumni Association (CBAA) has paid a courtesy call on Finance Minister Abul Hassan Mahmood Ali and proposed to establish an incubator fund for startups.

The committee, led by its President Khorshed A Khastagir and accompanied by Vice President Saiful Islam, General Secretary Shayaan Seraj, members Taufiq Zaman and Mahira Khan, met the minister on Thursday.

They also met the Finance Secretary, Dr Md Khairuzzaman Mozumder, a Canadian alumnus. 

In their discussions, they brought up an incubator fund for startups, scholarships for students, skill development initiatives, and other networking events and sought support from the Ministry of Finance, said a statement.

The finance ministry leadership expressed their willingness to cooperate and support the CBAA in its aims and objectives.

"The idea is to establish an incubator fund for startups, where promising alumni entrepreneurs could get funding and mentoring support," President Khorshed A Khastagir told Dhaka Tribune.

"We are aiming to request for such funds from the government of Bangladesh sources like Startup Bangladesh, in matching we may also explore Canadian angel investments, through the diplomatic and alumni networks in Canada," Khastagir, also a senior official of the foreign ministry, said.

"CBAA members, both in Bangladesh and Canada, who are already established entrepreneurs could contribute both funding or investment and mentoring for new and innovative ideas for business for the increasingly knowledge economy," he explained further.

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