One of the primary drivers of growth in the 21st century, especially for an economy such as ours, are start-ups. Due to their ability to completely disrupt and dominate industries, start-ups are one of the best ways for a country to gain a larger foothold in the global arena. Due to their inherent ability to scale at an unprecedented level, start-ups are also important for the facilitation of employment.
As such, it is certainly encouraging that GrayMatter Robotics -- a Bangladesh based AI-Robotics start-up delivering smart robotic automation -- has recently raised $20 million as series A investment. This comes on the heels of recent successes that have similarly seen the start-ups of the nation making their mark on the global stage.
As a country that is looking into the diversification of the economy, this is definitely good news. Bangladesh has relied solely on the RMG sector for a long time, but relying on a single industry comes with a myriad of dangers. There is also the fact that the world is increasingly becoming tech-based, and as demand and tastes shift, we have to be pro-active and prepare in any way we can for the coming fourth industrial revolution. The disruptive abilities of startups are definitely an asset when it comes to dominating in a market like this, so it is imperative that Bangladesh facilitates further success stories like GrayMatter.
We need to facilitate the flexibility of our regulatory environment so that it is more conducive to startups. We also need to make it easier for start-ups to gain access to funds and other opportunities. In addition, we need to revamp our curricula so that students can think with a problem-solving approach that demands creativity and flexibility.
If the authorities want to turn Bangladesh into a dominant player of the 21st century, start-ups are the future.
