PM Tarique announces $50m startup fund for youth at UNGA

The government has allocated $50 million in the current fiscal year to create opportunities for young entrepreneurs, researchers and innovators to implement start-up initiatives, Prime Minister Tarique Rahman said.

He made the announcement while addressing the 81st session of the United Nations General Assembly (UNGA) in New York early today (25 September).

The prime minister said the allocation was part of the government’s efforts to harness Bangladesh’s demographic dividend and create employment opportunities for its young population.

“Science and technology will shape the future of the world. We are entering a new era of artificial intelligence, biotechnology and science,” he said.

He noted that Bangladesh’s large young population and growing digital capabilities had created “new possibilities” for the country.

“To harness this potential, we must bring access to advanced technology, knowledge and research within everyone’s reach,” he said.

Tarique said the government had also begun implementing extensive programmes to transform the country’s working-age population into skilled human resources.

“Detailed measures have been taken to create extensive employment opportunities and develop Bangladesh as a ‘manufacturing hub’. In this endeavour, Bangladesh seeks the support of its development partners,” he said.

The prime minister also stressed the need to ensure that technological progress benefits developing countries.

“We do not want today’s digital divide to become tomorrow’s artificial intelligence divide,” he said.

He called for technology transfer, skills development and affordable access to modern technologies for developing countries.

“It is now time for the United Nations to adopt an effective policy framework so that the benefits of the development and rapid expansion of artificial intelligence and social media can be used positively in countries around the world,” he said.