Bangladesh’s start-up scene has witnessed impressive rise in the last few years, having become significant contributors to the economy and providing opportunities for bold ideas from young individuals who wish to bring novel concepts into the forefront and, as a result, improve the lives of millions across the nation.
This is the result of policies by the government which have prioritized increasing digitization -- such as through the Digital Bangladesh vision -- and through fostering a culture which encourages investment both from foreign and local organizations looking to tap into the growing potential of our diverse workforce.
However, that is not where it ends. As highlighted in a recent seminar in Dubai, entitled “Scope of Private Equity and Venture Capital Investment in Bangladesh,” the vigour with which the Bangladeshi youth have adopted to new technologies has not only resulted in the aforementioned economic boom within the start-up scene, but has also resulted in a range of impressive and scalable new ventures with high potential for lucrative private equity investments.
These incoming investments, especially from foreign shores, will remain crucial to Bangladesh’s development journey moving forward as it reaches middle-income status and looks beyond.
In an increasingly evolving business environment, Bangladesh’s governmental policies must reflect a willingness to adapt to newer technologies and methods of doing business and providing services and lay the groundwork for these new drivers of innovation to take advantage of.
This will require much in the way of improving Bangladesh’s position in the Ease of Doing Business Index by rooting out corruption and removing unnecessary bureaucratic red tape from the business eco-system, so that more and more investors are encouraged to see Bangladesh as the place to go.
