Start-ups have become an important driver of development in the 21st century. Due to their ability to disrupt existing markets and create new ones in their place, start-ups are also something of a game of speed, where the companies that have the first-mover advantage can very well position themselves, and remain, at the top.
As such, it is good news that three Bangladesh-based start-ups have recently received investment from Accelerating Asia at the Singapore-based international accelerator venture capital’s sixth cohort.
The Bangladeshi start-up ecosystem has been gaining traction internationally for some time now, and these three companies are just the latest in a series of success stories.
And yet, local funding for these start-ups is still barebones at best. A number of initiatives from the government have been established thus far, but without local investors stepping up, the growth of our start-ups will inevitably be stifled.
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The problem circles back to the local laws and infrastructure that make it difficult for start-ups to operate, which means that it is risky to invest in these ventures. This is something foreign investors complain about, but the fact that they are investing shows that these ventures have potential. Local investors need just a little push from the government, and everything should fall in place.
The business environment of Bangladesh has to be reformed with all stakeholders in mind. The government should prepare special provisions for the maintenance of start-ups as well.
There are only so many problems in the world, and there are only so many solutions the start-up scene can propose. The better environment we have, the more start-ups we have. The more start-ups we have, the more keys we hold to the world's issues.
