COVID-19 Impact on the Startups of Bangladesh

    LightCastle Analytics Wing
    LightCastle Analytics Wing

    Since March of 2020, Bangladesh is experiencing the wrath of COVID-19 pandemic. As business shut down due to the lockdown, the entire startup ecosystem has been shaken to its core, threatening thousands of startups that create over a million jobs. To understand the impact further, LightCastle Partners commissioned an independent study – “COVID-19 Impact on the Startups of Bangladesh”. The survey was conducted in late April with responses from over 200 startups from Bangladesh.

    Bangladesh Startup Ecosystem at a Glance: 

    • There are over 1,000 startups in the ecosystem currently providing employment to an estimated 1.5 million people. 
    • As of today, Bangladeshi Startups have attracted over U$ 200 million in international venture capital.
    • Currently, the most popular growth sectors in Bangladesh are Logistics, RideSharing, and Fintech.

    The analysis found that:

    • 24% of businesses have stopped complete operation with 56% startups saw at least a 50% drop on revenue generation
    • 60% of Startups have runway less than 3 months threatening 1.5 million employment
    • U$56 million annual loss is now feared by a total of 300 startups in 2020

    To learn more insights, visit the full report below:

    LightCastle Analytics Wing

    LightCastle Analytics Wing is the research division of LightCastle Partners. It is tasked with producing periodic reports on the different sectors of the economy, analyzing trends in markets and making methodical, thorough and intelligent analysis to improve strategy and drive business growth.