Bangladesh Startup Investment Report 2023

Even in the face of global upheavals and the challenges brought by the COVID-19 pandemic, Bangladesh’s economy has shown remarkable resilience. With a total GDP of USD 460 Bn, it stands as the second-largest in South Asia. With a median age of 28 years and an impressive 62% of the population under 35, Bangladesh possesses a young and tech-savvy demographic, driving the momentum of consumption. By 2030, projections suggest that Bangladesh’s consumer market will elevate to the 9th largest globally, marking a remarkable leap.

The digital wave is sweeping across Bangladesh, with 126 Mn mobile internet subscribers and a robust 75% internet penetration rate. The country is primed for digital innovation, as evident from the fact that 69% of previously unbanked adults now possess mobile phones, opening doors for mobile financial services to catalyze financial inclusion. Positive trends in digital finance indicators underscore Bangladesh’s steadfast commitment to fostering a dynamic digital finance ecosystem.

An invigorating startup ecosystem finds its roots in the strong backing of the Government of Bangladesh. Pioneering a multitude of initiatives and upcoming projects, the government is nurturing a vibrant startup landscape. Investments in infrastructure development lay a solid foundation for startups to thrive. Initiatives like the Innovation Design and Entrepreneurship Academy (iDEA) project and Startup Bangladesh Limited offer training, mentorship, and crucial financial support for aspiring entrepreneurs. The Bangladesh Government’s ambition to nurture five unicorns by 2025 symbolizes a trajectory of exceptional growth.

Get ready to explore the latest insights about the startup ecosystem in Bangladesh, curated for you by LightCastle Partners in partnership with Startup Bangladesh Limited. Whether you’re an entrepreneur, an investor, or simply curious about the dynamic world of startups, download the Bangladesh Startup Investment Report 2023 to uncover the latest insights.

P.S. This is a revised version of the original report.

WRITTEN BY: LightCastle Analytics Wing

At LightCastle, we take a data-driven approach to create opportunities for growth and impact. We consult and collaborate with development partners, the public sector, and private organizations to promote inclusive economic growth that positively changes the lives of people at scale. Being a data-driven and transparent organization, we believe in democratizing knowledge and information among the stakeholders of the economy to drive inclusive growth.

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