Startups thrive on foreign investment

Bangladeshi startups are doing a pretty good job right now. They have already attracted a significant amount of foreign investment. According to the Bangladesh Startup Founding Report 2021, local startups raised a total of $380 million last year, 98 per cent of which came from foreign investors. Three firms -- ShopUp, Bkash, and Pathao - reportedly earned three-fourths of this investment.

The number of foreign investors and the amount of money invested in Bangladeshi startups have increased noticeably. The current trend of foreign investment to local startups compared to neighbouring India and Pakistan, evinces that the growth of our startups is not a fluke. It also demonstrates the strength and potential of our young tech-based firms which have ideas and ways to solve broader social and economic problems through scaling up their business. The investors' attention to Bangladeshi startups is increasing day by day. What we now need to is to stand by these local startups so that they can smoothly operate and expand their businesses.

Praramvika Chowdury Payel,

Student of North South University, Dhaka,

[email protected]