Initiative,entrepreneur and others

Idea, Innovation and implementation: these words are floating in the commerce space like hot cakes to be grabbed. The life of budding entrepreneurs revolves around these words.

The growing startup scenario is not very old either and some of the most promising ones fizzled out rather quickly. Reaching the market value of one billion dollar is a milestone in the startup world that has been termed as “Unicorn “. In Bangladesh, Bkash Became the first startup to reach the level of Unicorn. Chaldal, ShopUp,Nagad, Pathao , Ten Minute School and some other ventures also  generate profit more than billion dollars.Entrepreneurs from all over the country are working passionately in a plethora of propitious to upscale the economic future. 

E-commerce ventures have raced way ahead in terms of availability and fast access. Startups like Rokomari, Ajker Deal Sajgoj and many more have earned the faith of customers with their service. Logistics and transport sector are also not far behind as e-courier, RedX, Paperfly , Truck Lagbe, fabric lagbeare ruling the roost. As far as service oriented marketplace is concerned, Hello Task, Handy Mama and seba are on the top spots. Tech startups like ZoomShaper , Brainstation23, Openrefactory are on their way to become billion dollar companies. Health tech startups like Praava , Moner Bondhu, Doctime, Pulse, Doctorkoi have made the lives of common people easier. Incentives sanctioned by both the government as well as NGOs are encouraging more and more young people to pursue their vision without personal financing.  

After pandemic, the idea of online marketplace has gain huge momentum. People love the idea of buying things online to save both time and energy. Thousands of women have become financially solvent within the comfort of their homes. Learning academic syllabus or mastering a few skills for professional growth, the tech startups have got us covered. Entrepreneurs are constantly upgrading their services in accordance with the needs and demands of their clientele. Public and private universities have structured their curriculum to train the budding entrepreneurs so they can compete in the global market. Department of Organization strategy and Leadership is one of the pioneers of the changing education space. Leadership skills are mandatory to drive any business successfully and nothing can provide that better than a practical academic guideline. 

Half of our population is women and a lot of them are working in the tech startups. The facilities and evaluation they receive are more often far from what men receive but that seems to have no effect on their determination to succeed. Using social media, women of remote areas are also monetizing their skills paving ways for posterity. Statistics claim more than 2 million women in Bangladesh are associated with e-commerce but the unviability of fresh data is a hindrance in calculating the actual number. Women earning and contributing to the GDP is a ray of positivity that will make our country shine brighter all over the world.  But progressing further in any profession requires knowledge and functional training on that field. 

Women entrepreneurs who operate their business without fundamental training cannot sustain in the long run. They open a page or someone opens it for them but due to lack of knowledge fail to promote, price and brand their goods. They become happy if they buy something of 300Tk and sell that at 400 Tk making a profit of 100 Tk. They lack any knowledge on cash flow, balance sheet; business forecast and miss out on the incentives or loans provided by the government.    The government is now determined to educate the underprivileged women on their prospective ideas so that they can properly avail the opportunities and establish a stable business model. In the coming years, SME entrepreneurs will lead the e-commerce sector that might generate a good amount of revenue for the government. The market space of e-commerce sector is awe inspiring with trade analysts predicting the overall value to be 1.5 billion dollars by the end of 2026. 

Now let's look at the support provided by the state or corporate arena to substantiate entrepreneurship as a desirable career option. Project Innovation, Design and Entrepreneurship Academy provide pre-seed funding of BDT 10 lakhs for entrepreneurs under the supervision of ICT department of the government. They also conduct Bangabondhu Innovation Grant Contest where the winner gets BDT 1 crore. The first venture capital company owned by the government "startup Bangladesh Limited '' gives the opportunity to pitch in investment worth 1 crore  in exchange of equity. Accelerator program arranged by corporate houses educate entrepreneurs on capitalizing their ideas step by step.

Their incentive care training touches every aspect of a sustainable business model. The training lasts for 2-3 months and it is a huge opportunity for anyone with an idea to move forward. The accelerator program also acts as a hotspot of networking by connecting newbees with professionals. Telecom giants like Grameenphone, Banglalink and Robi also arrange such programs to provide seed capital through pitching. 

There is no alternative to polish your skills to succeed in the long run. And if you are skilled enough, opportunities are always there to welcome you.  

Waresa Khanam Prity: Women  Entrepreneur and Founder of Her E Trade.