For the first time in Bangladesh, the globally acclaimed "The Future of Capitalism" startup competition has been launched by the Institute of Business Administration (IBA), Dhaka University (DU) in collaboration with the Leo Lion Foundation and Praava Health. Top industry leaders, venture capitalists, and startup experts gathered at IBA premises to attend the inauguration event organised by the IBA Communication Club (IBACC) on December 22, 2024.

From the Institute, Professor Mushtaque Ahmed, Professor Shaikh Morshed Jahan, Professor Dr Melita Mehjabeen, Professor Dr Khaled Mahmud, Professor Dr Rezwanul Huque Khan, Avijit Mallik, Shopnil Paul, and Aumit Ahsan were present at the inauguration. Sylvana Q Sinha, Founder and CEO and Mohammad Abdul Matin Emon, COO, were present on behalf of Praava Health.

Known to empower visionary startup founders elsewhere in the world, this competition aims to identify and fund early-stage tech startups promising both commercial success and social impact. With a track record of participants from over 58 countries, the competition will offer aspiring Bangladeshi startup entrepreneurs an unprecedented opportunity to secure funding of up to USD 250,000 to scale up their visionary ideas. It will be open to all individuals and organisations with transformative ideas, irrespective of background or experience. Teams of one-three members will compete across four rounds to develop and refine their ideas.

Highlighting the key focus of the competition, Professor Shakil Huda, Director (Acting) of IBA noted that the key difference between this initiative and existing business competitions is how we are committed to scaling up innovative startup ideas at any stage of their development. He said, "I am proud that today IBA, in collaboration with Praava and Leo Lion Foundation, launched a platform that we hope will soon end up as yet another benchmark in Bangladesh in duly focusing on and supporting our start-ups of the future."

Sylvana Q Sinha said, "We are thrilled to sponsor this event with Leo Lion Foundation to identify Bangladesh's next generation of disruptive entrepreneurs. As our country emerges from years of autocratic rule thanks to the courage and vision of our youth, we are inspired to see what the future will hold."

Aspiring participants are encouraged to register for the competition starting December 25, 2024. For further details, interested participants are requested to keep an eye on IBA Communication Club's official Facebook page (IBACC).