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StatUp Bus moves across Bangladesh StartUp Cup 2017 invites applications from 7 Divisions

Date: 6th March 2017

StatUp Bus moves across Bangladesh
StartUp Cup 2017 invites applications from 7 Divisions

Dhaka, March 6, 2017: The StartUp Cup, an international programme on entrepreneurship, has started its Bangladesh journey on Monday where organizers informed that an specialized bus will move across the country to pick the entrepreneur talents through 7 divisional events.

Bangladesh StartUp Cup 2017 is a country wide StartUp competition launched by the Embassy of the Kingdom of Netherlands, India-based impact investment firm Aavishkaar and BetterStories Limited

The StartUp Cup is a global StartUp competition that is happening over 60+ countries that has launched its Bangladesh edition in Gulshan Club on 6th March 2017. The theme of this year’s startup cup is “Nurture locally, scale nationally ”.

The business model competition is an innovative community based approach designed to increase the quality and quantity of entrepreneurs in any community. Through the participation of community leaders, educators, seasoned entrepreneurs and corporate supporters who are all willing to share their experiences and lessons learned with the participants of the StartUpCup, a successful entrepreneurial ecosystem will be created, enhanced and magnified.

The competition will cover the 7 divisions of Bangladesh, excluding the capital Dhaka. The StartUp Cup unique tailor made ‘immersion’ bus will travel across Barisal, Chittagong, Khulna, Mymensingh, Rajshahi, Rangpur, and Sylhet, creating a platform to bring together budding entrepreneurs from across the country. The aim is to create an ecosystem of entrepreneurs through which they can collectively undertake their businesses, offering support to each other.

The aim of the competition is twofold. On the one hand to identify and coach promising entrepreneurs from rural areas in Bangladesh who are addressing social challenges. By offering targeted training to these budding companies they are better able to present themselves to potential investors and are as such better positioned to launch succesful companies.

On the other hand to create an entrepreneurial (startup) ecosystem across 7 divisional cities of Bangladesh that once seeded, will hopefully be able to grow and sustain itself. The ecosystem will support startup entrepreneurs in early stages, but when matured it should become a driving force for improving the enabling environment for SMEs and startups alike, influencing policy and accelerating private sector growth.

The launching ceremony of Bangladesh StartUp Cup 2017 was graced by H.E. Ms Leoni Cuelenaere, Ambassador of the Kingdom of the Netherlands, Kabir Bin Anwar, Project Director, A2i & Director General, (Admin), Prime Minister’s Office, Selima Hossain Allen, Project Director, Bangladesh StartUp Cup 2017 and Muhaimin Khan, Deputy Project Director, Bangladesh StartUp Cup 2017.

Through the StartUp Cup 2017, incubator BetterStories Limited is empowering startup entrepreneurs to take the next step towards realising their business objectives, and effectively strengthening the startup ecosystem in those areas from where the participants will be selected. Longer term this will lead to stronger private sector players with more access to (international) investors (and as such markets), gradually transforming and growing the rural private sector.

As the Netherlands Ambassador Leoni Cuelenaere underlined: “What continues to strike me is the resilience of the people, the entrepreneurs, of Bangladesh. They are, despite often challenging conditions, taking advantage of the continuing levels of economic growth to improve their lives. This results in a vibrant private sector, and a vibrant private sector reaches more consumers and drives better innovation to solve tough problems. It is safe to say that these entrepreneurs need our support”.

“Bangladesh has a history of entrepreneurship and we see today the emergence of a young generation from across the country with the passion and ideas to create enterprises that address market opportunities. Aavishkaar thrives upon the idea of entrepreneurship being key to the nation’s development. We are very happy to support Start-up Cup in Bangladesh which we are sure will help develop the startup ecosystems across the country, providing entrepreneurs with much needed support and help them develop scalable and sustainable businesses”, says Sanchayan Chakraborty, Partner for Aavishkaar Frontier Fund. Aavishkaar is supporting this initiative via its Technical Assistance Facility, which is being supported by KfW, a German Development Financial Institution.

For the application process interested applicants can either visit Bangladesh.startupcup.com or call 01754141188 to help them to register for the Bangladesh StartUp Cup 2017. The application period will start from 7th March 2017 and end on 25th March 2017.

For more: 01911197978 (Abdullah Hasan)