Example: SME: An ecommerce website that sells a company’s inventory online; Startup: A platform that creates logistics efficiencies through supply chain; E.g.: ShopUp
Why is it important for Bangladesh?
- Tap into the Global Capital Market : Till date the Bangladesh based Startups have raised USD 724 million including big name investors like Softbank, Ant Financials, Tiger Global and Sequoia. India just in 2021 raised USD 20 billion +. With an annual global venture investment market of USD 650 billion - Bangladesh have strong opportunities to take advantage.
- Employment Creation: Startups not only create employment opportunities but new kind of work. For example think about ride-sharing drivers or food delivery. Over the last decade Startups have created direct and indirect employment for 1.5 million people and can create a lot more jobs.
- Innovation at Scale creating value: Startups disrupt traditional sector and create value for consumers and hence the economy. For example Mobile Financial Services (e.g. bKash) are helping financially include the unbanked while increasing efficiency for all consumers. Ride sharing services (e.g. Pathao) are breaking the taxi syndicate and making rides available and cheaper for everyone. B2B commerce companies (e.g. ShopUp) are giving on-demand inventory delivery and credit to retail SMEs and not having them dependent on traditional wholesalers.?
- Inclusive Growth: Startups help support inclusive growth- taps into markets that are not receiving the best value and creating-products and services for everyone. Ag-tech companies (e.g. iFarmer) have made access to capital easier for smallholders while edutech companies (e.g. Shikho) have taken the best content all around the country and telehealth services (e.g. Maya) have made medical consultation more available for everyone.
Barrister-at-law || Founder of Ain sheba|| legal service provider|| lawyer|| tax service provider|| corporate legal service provider|| Advocate|| public speaker|| consultant
2 年Insightful. We need to work more on our startup ecosystem. Many startups die at early stage due to lack of fund, lack of skill and knowledge. Patience is must for nourishment of startups.
Climate & Environment
2 年Great points! But you left out one point regarding why startups are important. A startup's presence, atmosphere, surroundings, energy... create awareness, encouragement, and drive! Others get a boost from seeing startups in action and want to join the journey!
Fractional CMO for growing companies | Author of "Build a Marketing Team" | Sharing everything I know here on building digital marketing departments that 10x customer growth.
2 年Insightful
IT Project Management | Digital Health Specialist | Technology Adoption and Digital Transformation
2 年nice post.
I help brands and professionals to multiply business & career growth | Country Lead of BizSvc @ CodeCrafters | Founder - Idean Consulting | Doctoral Candidate @ IBA | Trainer | Author of Bestseller book ‘Smart Marketing'
2 年Good to see you taking time to write and share knowledge vaia :)