How India & Bangladesh plan to strengthen collaboration in the startup sector
The startups of India and Bangladesh are poised to work together closely
In a firm expression of their commitment to strengthening collaboration in the startup sector, India and Bangladesh have launched the 'India-Bangladesh Startup Bridge' to facilitate the exchange of knowledge and technology.
The portal was launched by Bangladeshi Prime Minister Sheikh Hasina on July 29, 2023 in the presence of 10 Indian Startups visiting Bangladesh to take part in the Bangladesh Startup Summit in Dhaka
The Startup Bridge will enable seamless exchange of knowledge, technology and best practices between the startup ecosystems of India and Bangladesh and serve as a one-stop platform for accessing information for entrepreneurs and other stakeholders from both countries, the Indian High Commission in Dhaka said.
The India-Bangladesh digital startup bridge will help by making available comprehensive guides and toolkits to assist startups to evaluate expansion opportunities and technology transfers.
It will also bring together Startups, mentors, investors, incubators, and accelerators in relevant sectors, in addition to enabling investor roundtables, startup exchanges, highlighting of sector specific opportunities, hosting of webinars by domain experts, and building capacities.
The 10 Indian startups taking part in the Bangladesh Startup Summit in Dhaka were from the EdTech, Fintech, Healthcare/MedTech, Manufacturing, Automotive, EV, and HR sectors. The summit hosted by Startup Bangladesh Limited, under the aegis of the Information and Communication Technology Division of the Government of Bangladesh, brought together startups, venture capitalists, angel investors, regulatory bodies, thought leaders and industry experts.
India and Bangladesh have made a strong bilateral commitment under the leadership of Prime Minister Narendra and Prime Minister Sheikh Hasina, to build linkages between the startup ecosystems of both countries and use these exchanges as a medium to create a conducive environment for shared innovation and shared economic growth.
As part of this commitment, the bilateral framework of 'India-Bangladesh 50 Start-ups Exchange Programme' was kick-started in May this year, when the first ever cohort of 10 Bangladeshi startup companies completed a successful five-day visit to India from May 8-12, 2023. These startups were from sectors such as e-commerce, health, transport and logistics, energy, education and skill development.
During this visit, they got a unique opportunity to understand the Indian startup ecosystem, meet angel investors, and identify sectors where there may be scope of long-term partnerships. The Startups also got a chance to visit the IIT Delhi incubator, attend master classes, and share market knowledge.
Under this programme, 50 startups from Bangladesh and 50 Start-ups from India will exchange visits to each other’s countries for exploring partnerships, expanding business relations, sharing experience and knowledge and expanding youth and entrepreneurial cooperation.
According to the Indian High Commission in Dhaka, this continuous exchange of startups between the two nations will help leverage opportunities to expand sectors critical for growth such as Fintech, logistics, resource management, health, education, green technologies, and digitization of services.
"The startups of India and Bangladesh are poised to work together closely to increase ease of doing business, accelerate the use of the newly launched INR trade settlement facility, and collaborate to build digital platforms for conducting business and financial transactions," the Indian High Commission noted.