Investment Summit: Tk 1,200cr in new youth startup funds announced

April 9, 2025

Peter Haas, Strategic Adviser of US energy giant Excelerate Energy and also a former US ambassador to Bangladesh, calls on Chief Adviser Professor Muhammad Yunus at the State Guest House Jamuna in the capital on Tuesday.

Staff reporter :

Four separate funds have been announced to support innovative business ideas from young entrepreneurs, under a joint initiative by the Bangladesh Bank, the Government of Bangladesh, the Japan International Cooperation Agency (JICA), and pharmaceutical firm Incepta.

The development was disclosed by Chowdhury Ashik Mahmud Bin Harun, Executive Chairman of the Bangladesh Investment Development Authority (BIDA), and Faiz Ahmad Taiyeb, Special Assistant to the Chief Adviser, following the “Startup Connect” session on the second day of the Bangladesh Investment Summit 2025, held at the InterContinental Dhaka.

Speaking to the media, BIDA and Bangladesh Economic Zones Authority (BEZA) Executive Chairman Harun revealed that the BRICS-led New Development Bank (NDB) will provide $1 billion in funding support to Bangladesh within the next year.

He also expressed concern over bureaucratic delays hampering foreign investment, noting that a Chinese investor had to wait more than three and a half years for a single licence-resulting in a missed export opportunity worth approximately $200 million.

In a show of growing investor interest, representatives from China, South Korea, and the NDB held meetings with Chief Adviser Professor Muhammad Yunus.

A 45-member international delegation also visited the Narayanganj Export Processing Zone (EPZ), expressing strong interest in investing in Bangladesh.

Two new funds worth Tk800 crore and Tk400 crore will soon be launched by the Bangladesh Bank to support startup ventures. In addition, a fund jointly established by the Government of Bangladesh and JICA is in the pipeline. Local pharmaceutical company Incepta has also committed $1 million to a separate startup fund.

Faiz Ahmad Taiyeb emphasised the government’s commitment to improving digital infrastructure for startups. He announced that uninterrupted internet access will be ensured for entrepreneurs, and measures are being taken to prevent future internet shutdowns.

“The Bangladesh Telecommunication Act will be amended to reflect this commitment, and internet access will be recognised as a fundamental right,” Taiyeb said.

Ashik also noted that over 1,500 entrepreneurs-both domestic and international-participated in the opening day of the Investment Summit. He affirmed that the government is working to create a startup-friendly ecosystem by addressing the challenges raised by participants.