From Teknaf to Tetulia, startups get online funding access

DHAKA, Sept 12, 2026 (BSS)- From the farthest corners of Teknaf to the northern edge of Tetulia, aspiring entrepreneurs will no longer need to travel to seek government support for their startups.

They can now apply online, choose the amount they need and submit their company details under a fully digitalised and automated system.

Talking to BSS, Prime Minister’s Adviser on Posts, Telecommunications and Information Technology Rehan Asif Asad said the new system has opened nationwide access to startup funding, allowing applicants to seek financial support ranging from Taka 5,000 to Taka 5 crore from anywhere in Bangladesh.

The funding comes from the Taka 500 crore allocation in the budget for new startups and freelancers, with the main objective of creating employment.

“The main purpose is to create employment and jobs,” Rehan Asif Asad said, describing the Taka 500 crore allocation as a grant rather than a loan.

He said the startup board’s funding distribution policy and application process had been fully digitalised and automated, enabling applicants from Teknaf to Tetulia to submit their company details online and select the amount of funding they seek.

The board formed to review startups and distribute funds does not include any political person, according to him. It includes bureaucrats as well as representatives from the private sector, angel investors and the startup community.

“I have not attended a single board meeting so far,” Rehan Asif Asad said, adding that he did not want to personally oversee how often the board meets or how funds are distributed.

Startup Bangladesh Limited (SBL) Managing Director Nurul Hai told BSS that they maintain a highly flexible approach in accepting financing applications from startups.

"Whatever form an application comes in, it is reviewed with the highest degree of professionalism and transparency, strictly on merit," he said, adding, "We even sit with an applicant who comes to us with just an idea and no formal documents at all."

Turning to the government’s election manifesto, Rehan Asif Asad said that the policy has employment creation as one of its main priorities, with emphasis on freelancers and the startup community in the ICT and telecom sectors.

“Our freelancers are using platforms and we have tried to address the issue so that they can use the money they earn to buy software or hardware,” he said.

The country’s freelancers are earning about US$ 1 billion in foreign currency, according to the official sources.

The government has also established direct connectivity between BRAC Bank and MTBL and global platforms including Stripe, Payoneer and Wise to address payment-related complications, he said.

The requirement for freelancers to repeatedly fill out C-forms when bringing in money has also been removed. They will no longer have to visit banks repeatedly to complete C-forms for the same project.

Under the measures, income tax for startups has been made zero, while exemptions from VAT, Custom Duty (CD) and Regulatory Duty (RD) have been provided according to their requirements.

The initiatives have been implemented over the past seven months since the current administration assumed responsibility, according to him.

Rehan Asif Asad said the government’s role was to create an environment and policy framework rather than individually create jobs.

His argument reflects the experience of several Asian economies where government policy and institutional support have been used to help build startup ecosystems.

India’s Startup India initiative, for instance, offers recognised startups tax benefits, easier compliance and other forms of support, while South Korea runs the government-backed K-Startup Grand Challenge to help startups connect with local companies and investors.

China, meanwhile, has expanded government-backed funding and policy support for innovative small and medium-sized companies.

“If it can happen in India, South Korea and China, why can’t startups succeed in our country? I have personally sat with startups many times,” he said.

He also said various irregularities in the startup sector and issues relating to fund allocation in the past were being reviewed, while a white paper on the matter was being examined.

The issue of tracing funds allegedly misused in the name of startups falls under the jurisdiction of Bangladesh Bank’s Bangladesh Financial Intelligence Unit (BFIU), according to him.