Government to provide up to Tk 5 crore to promising entrepreneurs: PM

Prime Minister Tarique Rahman has said that promising entrepreneurs will be provided assistance ranging from Tk 5 lakh to Tk 5 crore from the ICT Division's Tk 500 crore startup fund.

The Prime Minister said these at a programme titled 'Youth, Startups and Potential of Bangladesh' held at the Nawab Nawab Ali Chowdhury Senate Bhaban of Dhaka University on Tuesday (July 14) morning.

The Prime Minister said, a budget of Tk 500 crore has been kept from the ICT Ministry. We will try to assist a startup entrepreneur with Tk 5 lakh to Tk 5 crore.

He said, we have thought that there are entrepreneurs who have to face the hassle of banks, security or paperwork—they should not have to go through that, for which a committee has been formed. There are no ministers or advisers in it. The committee will decide on funding after assessing the potential of the project.

The programme was organised by the Information and Communication Technology Division in collaboration with Dhaka University. The National Startup and Entrepreneur Platform was also launched at the event.

At the programme, when Dhaka University Statistics Department student Nusrat Jahan asked about the government's initiative to facilitate collateral-free loans for entrepreneurs, the Prime Minister said the neutral committee concerned will fund the entrepreneur after reviewing their project.

In response to another question, he said, the help that will be provided is public money. If there is potential, the matter of returning the fund will be considered. Because many do not do well at the start of their business. In that case, if there is potential, they will get a second chance.

The programme was attended by Posts, Telecommunications and Information Technology Minister Fakir Mahbub Anam, the Prime Minister's Adviser on Posts, Telecommunications and Information Technology Rehan Asif Asad, acting secretary of the Information and Communication Technology Division Md Mamunur Rashid Bhuiyan and Professor Dr Md Morshed Hasan Khan of Dhaka University's Marketing Department.

It may be mentioned that the Information and Communication Technology Division said the Tk 500 crore startup fund has been formed as part of the government's various initiatives to build technology-driven employment, research and innovation and a knowledge-based economy.