Bangladesh government to provide ICT entrepreneurs up to Tk 50 million fund

The government is set to launch a project to fund the ICT entrepreneurs aiming to develop innovative potentials of young people in the sector.

Published : 13 Sept 2019, 01:32 PM
Updated : 13 Sept 2019, 01:32 PM

“Under the project to be called 'Bangabandhu Innovation Grant', each entrepreneur in hardware and R&D sector will receive the fund from Tk 1 million to Tk 50 million,” said State Minister for ICT Zunaid Ahmed Palak while briefing the media on a three-day Digital Device and Innovation Expo in Dhaka on Friday.

The project will be launched on Oct 14 when the exhibition will be inaugurated, he said.

The government is now emphasising the ICT ecosystem after setting an earning target of $5 million a year from the hardware and software sectors.

“We want to make the ICT ecosystem a matchmaking platform. We need big funds for the ecosystem mechanism. The hardware and R&D sector has a bright future,”said the state minister.

Palak hoped that the hardware and R&D sector might generate more than 1 million job opportunities in the next five years.

At present, the country has around 5 million smartphone users and the local companies account for 17 percent of the devices, according to him.

Prime Minister's ICT Advisor Sajeeb Wazed Joy is expected to open the exhibition at Bangabandhu International Conference Center in Dhaka.

The objective of the event is to attract foreign investment by showcasing the local hardware and R&D products.

Bangladesh Hi-Tech Park Authority, Information and Communication Technology Division, Bangladesh Computer Samity and Idea project will jointly organise the expo.

The exhibition will remain open to all from 10am to 8pm daily.

Toufique Imrose Khalidi
Editor-in-Chief and Publisher