Bangladesh has moved up six spots to 83rd position in the latest global startup index which ranks countries based on their supportive ecosystem for the flourish of such companies.
Of the cities listed in the index, Dhaka made a significant jump of 71 spots to the 140th position, said the report titled 'Global Startup Ecosystem Index 2024' published recently.
"Bangladesh's national startup ecosystem is a potential digital treasure in Asia that requires systematic country-level branding to attract more foreign investments and generate exposure," said the report.
The population size provides an innate advantage, giving the country a large internal consumer market, said the report and added that the country also boasts a young tech savvy population, and ICT technology in areas such as digital commerce, education, and healthcare.
However, the report said Bangladesh's startup ecosystem is not free from bottlenecks.
"Access to high speed internet outside of major cities, limited access to funding, complex regulations, and limited global exposure are blockages to the ecosystem achieving its full potential," said the report.
The report also referred to different initiatives taken by the public and private sectors aiming to facilitate the ecosystem including the IDEA Project, Bangladesh Hi-Tech Park Authority and Startup Bangladesh Limited.
Highlighting on Bangladesh's economic potential, the report said the government should work on improving internet infrastructure, arranging corporate venture capital, establishing startup friendly policies and regulations, and improving industry-academia collaboration to support the growth of startups.
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