The StartUp Cup is the first ever business model competition for Bangladesh. It is a competition to help entrepreneurs turn their ideas into reality. The StartUp Cup is an exciting opportunity for entrepreneurs who have ideas, but not much by way of startup money. An explosion of entrepreneurial initiative is taking place in Bangladesh right now, and we should be doing all we can to nurture these risk-takers.
The nature of the way startups come about is changing rapidly. Gone are the days when energetic young people with powerful ideas had to wait around for the perfect environment to come along. Nowadays they are acting fast. They are going to the market fast, finding their customer-base, and aggressively making revenue and profit. It is not easy, but it is being done and should be encouraged.
The StartUp Cup is a great way to help entrepreneurs with this process. It is a remarkable fact that a mere 2% of startups have the sort of business model or experienced team that can secure large-scale funding from investors. This means that the other 98% of entrepreneurs – many of them with terrific ideas and growth potential – are not getting the resources and financing they need for their businesses to flourish.
The Bangladesh StartUp Cup is a bold and exciting contest. Entrepreneurs are modern-day heroes. They take risks and brave tremendous obstacles in their journey. With an initiative like StartUp Cup, some in this 98% might start to get the attention they deserve.
