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Government Allocates 109 Crore to Support 36 Technology Startups

Government's venture capital arm, Startup Bangladesh, has invested nearly 109 crore in 36 tech-driven startups.

By Staff Correspondent1 min read
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৩৬ স্টার্টআপে ১০৯ কোটি টাকা বিনিয়োগ সরকারের

The government has invested nearly 109 crore in 36 technology-driven and innovative startups through its venture capital arm, Startup Bangladesh. This was revealed by the Minister of Posts, Telecommunications and Information Technology, Fazlur Rahman, in response to a written question from MP Ashraf Uddin in the Jatiya Sangsad on Tuesday.

Initially, 55 startups received investment approval. However, due to discrepancies in legal due diligence and disagreements over investment terms, 19 startups had their investments canceled. Consequently, 36 startups received the final investment.

Notable recipients of the investment include Chal Dal Limited, Ten Minute School Limited, Seba Platform Limited, and Tour Booking Bangladesh Limited. The minister assured that the government continues to support innovative and tech-driven entrepreneurs to strengthen the country's digital economy.

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FAQ

How many startups received initial approval for investment?
55 startups received initial approval.
How many startups had their investments canceled?
19 startups had their investments canceled.

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