ICT Division of Bangladesh government has already taken huge initiatives for the development purpose of startups and entrepreneurs and for its execution, the division also initiated their operations with the fund of $ 100 million or tk. 8000 million. This fund including cash and other resources will get distributed as per Venture Capital (VC) Investment model.
In the program of ICT Division titled ‘Startup Bangladesh’, all kinds of supports are to be provided for the entrepreneurs’ idea generation including financial, skill, and communication development that aims mainly to create a suitable environment and culture for investment in Bangladesh like Silicon Valley.
Advisor to Startup Bangladesh Tina Zabeen said-Above 50% of the 100 million dollars fund is based on cash and the rest is on other sectors or resources. It is not being provided as donation. Government here will play a role of Venture Capitalist. Government will take the responsibility as business partner of these startups. But, the company will get some donations at the idea stage, though most of them will follow the Venture Capital Model.