With the intention to boost its startup industry, Bangladesh is slowly establishing its growth engine and supporting innovative startups. The country, which has a population of 165 million people, is one of Asia's fastest-expanding economies. Propelled by a technologically literate populace with a growing desire for consumption, Bangladesh is on the path to a digitally inclusive future. This impetus has been boosted by private sector enthusiasm, which has displayed itself in the form of several accelerator and incubator programs for entrepreneurs. Joining a startup incubator and accelerator in Bangladesh may allow you to grasp the opportunities in Bangladesh's growing market.
In this article, we have compiled a comprehensive list of startup incubators and accelerators in Bangladesh. They have been subdivided into applicability for startups in their 'ideation' and 'launch' stages, so whichever stage you're in, you would be able to find a program that suits you!
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FULL LIST OF STARTUP INCUBATORS AND ACCELERATORS IN BANGLADESH
Ideation Stage Startup Incubators in Bangladesh
The complete list of ideation phase incubators in Bangladesh:
Who is it for: Aspiring entrepreneurs with an idea and seeking cofounder
Need to have an idea: Yes
Focus: Social and Environmental Impact
Orange Corners is an initiative by the Netherlands' Ministry of Foreign Affairs that provide support for the establishment of enterprises in Africa, Asia, and the Middle East. In Bangladesh, the Orange Corners incubation program provides training, mentorship, networking, finance, and facilities for young Bangladeshi entrepreneurs to build their business ideas and companies. In particular, they support female entrepreneurs to solve challenges such as youth unemployment and gender inequality. Post-incubation, Orange Corner continues to provide support by connecting startups with investors, preparing them for investments, and providing access to capital. The initiative is being undertaken in collaboration with a variety of stakeholders such as academia, government, and corporations in order to assist and grow local entrepreneurial ecosystems.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Sector Agnostic
To support creative individuals in defining the next economy, Daffodil Business Incubator acts as a business support organization that assist in the acceleration of establishing successful businesses. They offer a comprehensive and integrated variety of services, which include thematically designed educational workshops and events for entrepreneurs, incubator space, and networking opportunities. DBI invites excellent speakers and industry experts to become mentors that will assess startup's needs, share their experiences, and improve founders' business abilities.
Launch Stage Startup Incubators and Accelerators in Bangladesh
The complete list of launch phase incubators and startup accelerators in Bangladesh:
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Health Tech, Edu Tech, Fin Tech, IoT, Entertainment, Gaming, Cloud Service, Hardware, Clean Tech, M-Commerce, Enterprise, Mobile Application
The Grameenphone Accelerator provides tech startups with the resources they need to establish and grow their startups. It is a mentor-led, curriculum-driven program that will provide startups with expert advice, in-house development tools, media exposure, investors access, partnership opportunities, equity-free funding, and much more. To date, they have advanced 50 startups in seven rounds, including Repto, CMED Health, Cramstack, AlterYouth, and BankcompareBD.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Sector Agnostic
If you're trying to raise funds over the next 6 to 18 months and have traction, Accelerate Bangladesh may the right program for you. It is a 12-week investment readiness program designed to assist founders in securing angel investments worth USD 100,000. Build in collaboration with Bangladesh Angel Network, Bridge for Billions, BetterStories Limited, and Biniyog Briddhi, the program will support startups in developing their financial models and pitch decks as well as gather investor contacts.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Sector Agnostic
BYLC Ventures is a venture capital firm that supports entrepreneurs in getting their ideas off the ground. Ventures Bootcamp will be your point of entry into BYLC Ventures, where you will receive training on team building, product and market validation, and financial and legal frameworks. They also organize a founder-focused, world-class accelerator program conducted by industry experts that will provide guidance on the best entrepreneurial practices. Through the program, they will provide assistance in technical areas, hone founder's leadership skills, strengthen their business acumen, and assist in the validation of their ideas into investable businesses. Leadership development, sales-focused pitch clinics, one-on-one coaching, funding, and professional services such as legal, accounting, and corporate governance will all be part of the program.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Social and Environmental Impact
YY Goshthi is Bangladesh's first social business incubation program. The curriculum, developed by YY Ventures, provides intensive and immersive education to early-stage social startups. The program enables socially and ecologically conscientious entrepreneurs to launch their minimum viable product and acquire the necessary seed funding by providing world-class training, mentorship, community, coworking space, and access to investors. They invite prominent business trainers and seasoned experts to advise the incubatees in various areas of building their company ideas and launching successful firms. They also provide pre-seed funding of up to BDT 1 to 1.5 million to select participants and collaborate with local and international investors and angels to support startup's fundraising.
Closing Thoughts on Joining a Startup Accelerator or Incubator in Bangladesh
With a youthful, tech-adaptive population and a rising middle and affluent-class population expected to reach 35 million by 2025, Bangladesh is at a tipping point. In response, over 200 new firms are founded each year, with over 1,200 registered startups in 2022. However, just a handful of them survives, with numerous failing due to factors such as lack of product-market fit, lack of early finance, lack of capital absorption capacity, insufficiency in team competence, and others. As such, the way forward for Bangladeshi startups is to collaborate with accelerators and incubators to build a stronger business foundation and strategize over potential challenges. Furthermore, these programs often provide startups with networks of investors and venture capital firms that can provide the capital startups need to grow and thrive.