Bangladesh ripe ground for startup investments, discuss panellists

On the second day of the Bangladesh Startup Summit, a panel of distinguished experts convened to discuss the question, "Why Invest in Bangladesh?" The session aimed to highlight the country's appeal as an investment destination and explore the various opportunities it offers.

Moderated by Zarif Munir, Senior Partner and Managing Director at Boston Consulting Group (BCG), the panel initiated the discussion by polling the audience on when they believe Bangladesh will become a trillion-dollar economy, with the most common response being 2040.

The panelists, consisting of investors, industry leaders, and government representatives, shared their perspectives on attracting investors to Bangladesh. Creating value and improving governance were among the responses to what can be done to appeal to investors.

Siamac Kamalie, Founder of Skycatcher, a leading software and internet investor, recounted their investments in Bangladesh since 2013, citing companies like Pathao and Sharetrip as examples. He emphasized the importance of objectivity and problem-solving capabilities.

Amra Naidoo, Co-Founder & General Partner of Accelerating Asia, revealed that 20 out of their 75 investments in the Asia region were in Bangladesh. She praised the resilience and dedication of successful companies and highlighted their responsiveness to investors and efficient paperwork.

Sanchayan Chakraborty, Partner at Aavishkaar, a leading Indian venture capital firm, focused on investing in businesses with positive impacts on marginalised populations. He advised entrepreneurs to adhere to long-term visions and distinguish themselves to succeed.

In closing remarks, Zarif Munir reminded entrepreneurs that they exist not merely to solve problems but to create value. Encouraging big thinking and a belief in one's offerings, he urged the audience to aspire to greatness.

The panel discussion provided insights into Bangladesh's strategic location, economic growth, startup ecosystem, and investment-friendly policies. The government's commitment to fostering innovation and supporting entrepreneurship, along with the incentives offered to investors, were highlighted as factors contributing to the nation's appeal for investments.

The discussion shed light on sectors like fintech, e-commerce, and renewable energy, positioning Bangladesh as a potential key player in the global market.