Bangladeshi startups at global stage

For the first time in Bangladesh Seedstars World, the global seed-stage startup competition for emerging markets and fast-growing startup scenes, explored the most innovative Bangladeshi tech startups through a boot-camp and competition held in Dhaka. Seedstars World globally organises an annual competition where applicants over 2500 forward their interest to participate, out of which 600 get an exclusive invitation to one of their 55+local events. The Seedstars World Summit invites startup entrepreneurs to associate themselves with the big names. Starting from providing platforms for entrepreneurs to invest and partner with the globally best emerging market startups, it also plays a crucial role in building strong connections around the world for future prospects.

During Seedstars World's inaugural event at Dhaka, on November 12 and November 13, 2015 the best 30 startups were given the chance to work on their businesses and pitching skills. From those, the top 12 startups were selected to pitch in front of local and international jury on November 14, 2015. The event was organised with the support of NTF III Bangladesh project, implemented by the International Trade Centre in partnership with the Bangladesh Association of Software and Information Services (BASIS) and Dhaka Chamber of Commerce and Industry. It   was funded by the government of the Netherlands, BD Ventures and Fenox Ventures. The event was activated by Betterstories Limited and took place in Newscred's office in Dhaka.

The winner of the Bangladesh round was announced to be 'Madvisor'. The team will participate in Seedstars World Summit in Switzerland. The team has already bagged in plenty of attention and appreciation for their ground-breaking pitch. They have been approached by a major telecom company to collaborate their idea along with it. In addition, Fenox Venture Capital has also committed to take them to Silicon Valley prior to their trip to Switzerland. Runner ups were 'Track my vehicle' and 'Handy Mama'. There were other prestigious awards given out to several other participants of the competition. BASIS President and General Partner of Fenox Venture Capital Mr. Shameem Ahasan said,"The main objective of arranging Seedstars World is to provide the young entrepreneurs with a platform for global innovation including Silicon Valley, and successful international expansion of their companies. "According to the Bangladesh Ambassador of Seedstars World and Chief Storyteller of Betterstories Ltd. Mr. Minhaz Anwar, "This was by far the best startup event in Dhaka. All 12 finalists had a MVP (minimum viable product) and ambition to go scale. Judges had real hard time picking the top Bangladeshi startup to go to Switzerland from the top 5 list. One judge said that we have the first Bangladeshi Unicorn prospect among the contestants of today!"

The competition provided a platform for startups to pitch ideas that serve as a remedy to a range of societal issues. However, they not only have a big addressable market size within Bangladesh but also hold the potential to become scalable beyond the country.