Startup Bangladesh gets Tk43 cr from ICT division
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard
WEDNESDAY, MAY 25, 2022
WEDNESDAY, MAY 25, 2022
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
Startup Bangladesh gets Tk43 cr from ICT division

Corporates

TBS Report 
17 June, 2021, 04:15 pm
Last modified: 17 June, 2021, 04:23 pm

Related News

  • UNDP, ICT Division sign deal to launch cybersecurity awareness campaign 
  • UNDP, ICT Division sign agreement on cybersecurity campaign 
  • ICT division issues Bangladesh Bank CA license
  • Meta aids Bangladesh govt in Covid response
  • ICT Division moves for 14 more IT training centres

Startup Bangladesh gets Tk43 cr from ICT division

iDEA project has been working since 2016 to create a startup ecosystem in Bangladesh by encouraging new innovative ideas of startups

TBS Report 
17 June, 2021, 04:15 pm
Last modified: 17 June, 2021, 04:23 pm
Startup Bangladesh gets Tk43 cr from ICT division

The Innovation Design and Entrepreneurship Academy (iDEA) project under the ICT Division provided Tk43 crore to the Startup Bangladesh Limited, state-owned venture capital company, recently.

iDEA project has been working since 2016 to create a startup ecosystem in Bangladesh by encouraging new innovative ideas of startups, said a press release.

Startup Bangladesh Limited will get Tk43 crore from the iDEA project for the development of seed and growth level entrepreneurs. In this context, for the equity investment of startups, the iDEA project has provided Tk7 crores, Tk10 crore and Tk6 crore in 3 steps. The project will provide the remaining Tk 20 crore to the company in the next 2021-22 financial year.

The project director and joint secretary of iDEA project, Abdur Rakib, handed over a cheque of Tk6 crore on the 14 June to Startup Bangladesh Ltd at the office of iDEA project of ICT Tower in Agargaon. ABM Monirul Islam, company secretary of Startup Bangladesh Ltd received the cheque on behalf of his organisation.

With the able guidance of Prime Minister's ICT Affairs Adviser Sajeeb Wazed and the leadership of State Minister for ICT Division Zunaid Ahmed Palak, the project has undertaken in many initiatives.

So far, 179 innovative startups have been nominated for Tk10 lakh grants each at the pre-seed stage through an expert selection committee of the iDEA project.

To provide equity funding to seed and growth level startups, Startup Bangladesh Limited was formed in March 2020, through the iDEA project.

Through this company, startups have the opportunity to get investment in the seed stage up to a maximum of Tk1 crore and in the growth stage up to a maximum of Tk5 crore per round sharing a maximum of 49% equity.

Thus, the iDEA project of the ICT Division has been playing a significant role in forming a startup ecosystem in Bangladesh. Apart from financing the startups, the project is also carrying out various activities for their training, mentoring, and domestic and international networking. More information over the matter is available at  www.idea.gov.bd.

 

Economy

Startup Bangladesh Limited / ICT Division

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Photo: Collected
    Bangladesh among top 20 prospective solar farm capacity nations
  • Bangladesh Bank to sit with ABB, BAFEDA Thursday
    Bangladesh Bank to sit with ABB, BAFEDA Thursday
  • A man counts Pakistani banknotes along a roadside in Islamabad, Pakistan, November 16, 2017. REUTERS/Faisal Mahmood
    Pakistani rupee nosedives against US dollar as political crisis deepens

MOST VIEWED

  • 'The Change Makers' announces panel for upcoming e-CAB election
    'The Change Makers' announces panel for upcoming e-CAB election
  • Mercantile Bank signs participation agreement with Bangladesh Bank
    Mercantile Bank signs participation agreement with Bangladesh Bank
  • Photo: Courtesy
    Seven Rings Cement organises dealer conference
  • Foundation course for officers held at Janata Bank Staff College
    Foundation course for officers held at Janata Bank Staff College
  • BCI delegation pays visit to GiZ country director
    BCI delegation pays visit to GiZ country director
  • Photo: Courtesy
    Green Delta Insurance joins hand with Brac Bank’s Women Banking Segment ‘Tara’

Related News

  • UNDP, ICT Division sign deal to launch cybersecurity awareness campaign 
  • UNDP, ICT Division sign agreement on cybersecurity campaign 
  • ICT division issues Bangladesh Bank CA license
  • Meta aids Bangladesh govt in Covid response
  • ICT Division moves for 14 more IT training centres

Features

Psycure has received various awards for their extraordinary contributions to promoting Sustainable Development Goals. Photo: Courtesy

Psycure: Meet the organisation serving the underserved university students (and beyond) with mental healthcare 

12h | Panorama
Underlying problems such as school dropouts need to be addressed first before taking a legal route to stop child labour. Photo: Reuters

‘Child labour in a country like Bangladesh is primarily a development issue, not so much of enforcement’

13h | Panorama
The balcony railings of the Boro Sardar Bari in Sonargaon. Made of cast iron, these railings feature vertical posts with intricate designs on top. Photo: Noor-A-Alam

The evolution of railing and grille designs

1d | Habitat
A Russian army service member fires a howitzer during drills at the Kuzminsky range in the southern Rostov region, Russia January 26, 2022. REUTERS/Sergey Pivovarov/File Photo

3 months of Ukraine war : Miscalculations, resistance and redirected focus

1d | Analysis

More Videos from TBS

Where the people have more weapons than military

Where the people have more weapons than military

52m | Videos
Govt plans to amnesty in the offing to bring back laundered money to meet dollar crises

Govt plans to amnesty in the offing to bring back laundered money to meet dollar crises

3h | Videos
Poet Nazrul Islam’s 123rd birth anniversary observed

Poet Nazrul Islam’s 123rd birth anniversary observed

3h | Videos
Soaring commodity prices put pressure on budget

Soaring commodity prices put pressure on budget

7h | Videos

Most Read

1
Tk100 for bike, Tk2,400 for bus to cross Padma Bridge
Bangladesh

Tk100 for bike, Tk2,400 for bus to cross Padma Bridge

2
Bangladesh at risk of losing ownership of Banglar Samriddhi
Bangladesh

Bangladesh at risk of losing ownership of Banglar Samriddhi

3
BSEC launches probe against Abul Khayer Hero and allies
Stocks

BSEC launches probe against Abul Khayer Hero and allies

4
Photo: Courtesy
Panorama

Misfit Technologies: A Singaporean startup rooted firmly in Bangladesh

5
Illustration: TBS
Banking

Let taka slide

6
Photo: Collected
Industry

Spanish recycled cotton producer opens new facility in Bangladesh

The Business Standard
Top
  • Home
  • Entertainment
  • Sports
  • About Us
  • Bangladesh
  • International
  • Privacy Policy
  • Comment Policy
  • Contact Us
  • Economy
  • Sitemap
  • RSS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net

Copyright © 2022 THE BUSINESS STANDARD All rights reserved. Technical Partner: RSI Lab