The iDEA Project and Startup Bangladesh recently signed a Memorandum of Understanding (MoU) in a bid to provide a more robust, supportive ecosystem for tech startups in the country. Fragmentation has hindered the ability of firms to find their footing early on with much-needed guidance being hard to come by.
The partnership will see the two combine their skills and expertise to create a single place for startups and entrepreneurs to receive support. According to a report in the Bangladesh Post, critical components of the MoU include training and skill enhancement, research initiatives, event planning and management, branding and PR campaigns and knowledge-sharing activities.
It remains to be seen in just what form these efforts will come in, but the MoU lays out a very clear goal: growing Bangladesh’s startup culture while positioning the nation as a hub for innovation and entrepreneurial excellence.
Each organization will bring something different to the partnership. Startup Bangladesh Limited was created by the Bangladesh Computer Council (BCC) and is the flagship venture capital fund of the ICT Division while Innovation Design and Entrepreneurship Academy (iDEA) Project is also supported by the government.
There is hope that bringing these two together will create a more streamlined and efficient startup ecosystem as the country looks to champion a wave of tech firms moving forward.
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Interesting Analysis
As we’ve said before around these parts, doing something is always better than doing nothing. For Bangladesh, bringing these two government-backed organizations together should lead to improvements, although where exactly that is still unknown.
Like most countries in Asia, there is a lot of talent and ideas in Bangladesh just waiting to be tapped into. The issue is providing a platform for these to get off the ground. This MoU between the iDEA Project and Startup Bangladesh just may be the thing that provides the entire system a much-needed jolt.
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