ICT Division policy introduces funding for startup ideas, prototypes, seed-stage ventures and investment readiness.
Logo of the People’s Republic of Bangladesh. Photo: Collected
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Logo of the People’s Republic of Bangladesh. Photo: Collected
The government will provide financial grants of up to Tk50 lakh, and in some cases even more, to early-stage startups to help young entrepreneurs turn innovative ideas into marketable products and services, create new ventures and jobs, boost export capacity and attract domestic and foreign investment.
The grants will cover several stages of startup development, including idea development, prototyping, pre-seed funding, seed funding, investment readiness and bridge funding, as well as special grants in certain cases.
The Information and Communication Technology (ICT) Division has issued a policy outlining the eligibility criteria and funding arrangements for the initiative.
Under the policy, startups seeking investment readiness, bridge and matching funding will be eligible for grants ranging from Tk10 lakh to Tk50 lakh.
For idea development, applicants will receive grants ranging from Tk1 lakh to Tk3 lakh.
For prototype and minimum viable product (MVP) development, individual applicants will be eligible for grants of up to Tk5 lakh, while institutions can receive up to Tk10 lakh.
Special innovation programmes will receive grants according to limits determined by the government.
The policy also allows the government to provide financial assistance beyond the prescribed limits in certain cases.
“For strategically important, nationally prioritised or high-impact technology-based startups, the government may, if necessary, provide financial assistance exceeding the prescribed limits in any category,” the policy states.
Both Bangladeshi citizens and non-resident Bangladeshis will be eligible for the grants.
However, individuals or institutions facing pending cases in criminal courts involving embezzlement, corruption, fraud, money laundering or cybercrime will be ineligible.
Those who have previously misused government grant money or failed to submit proper accounts or reports after receiving government grants will also be excluded from the scheme.
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