Prime Minister Tarique Rahman has announced a groundbreaking initiative to provide collateral-free loans to young startup entrepreneurs, ranging from Tk five lakh to a maximum of Tk five crore. The announcement was made during an event titled 'Youth, Startups and the Bangladesh of Possibilities' held at the Nabab Nawab Ali Chowdhury Senate Bhaban of Dhaka University. The Prime Minister emphasized the government's commitment to supporting talented entrepreneurs by allocating about Tk 500 crore through the Information and Communication Technology (ICT) Division to support startups.
The event, organized in collaboration with Dhaka University, saw the launching of the National Startup and Entrepreneur Platform. Over 230 students from eight universities participated in the discussion, moderated by Abdullah Al Mamun, a member of the University Grants Commission. Responding to a question from Nusrat Jahan, a statistics student, the Prime Minister clarified that aspiring entrepreneurs no longer need to provide land, property, or other forms of collateral to secure startup financing.
'A completely independent committee has been formed. There are no ministers or advisers on it. They will evaluate your project, and if it is approved, you will receive financing without any collateral,' Prime Minister Rahman explained. He also assured that even if promising startups fail initially, they would be given another opportunity to receive funding.
Addressing concerns about the geographic limitations of the startup ecosystem, Rahman stated, 'We want to expand the startup ecosystem across the country rather than confining it to the capital. We want young entrepreneurs like you from every corner of Bangladesh to come forward. We want to reach you.' He acknowledged that building a robust ecosystem would take time but expressed confidence in achieving the goal through collective efforts.
The event was attended by various stakeholders including Posts, Telecommunications and Information Technology Minister Faqir Mahbub Anam, Prime Minister's Adviser Rehan Asif Asad, ICT Division acting Secretary Md. Mamunur Rashid Bhuiyan, Dhaka University Vice-Chancellor Prof Dr ABM Obaidul Islam, and representatives from multiple universities and the entrepreneurial community.
