BYLC Ventures, an entrepreneurship development programme of Bangladesh Youth Leadership Center (BYLC), hosted its first virtual bootcamp from Thursday to Saturday.
A total of 50 teams attended the three-day programme, selected competitively from over 400 applications for cohort 2 of BYLC’s six-month long accelerator program, said a press release.
The bootcamp was arranged aiming to build the capacity of the participants through workshops on design thinking, product market fit, building a minimum viable product, and other business tools.
The second purpose of the camp was to assess the suitability of the participants to receive seed funding from BYLC.
Among the 50 teams, a jury board will select the top 25 from the bootcamp for the final selection round.
Finally, an investment committee will select the top 10 who will each receive USD 10,000 and join BYLC’s accelerator programme, the press release added.
In his opening remarks at the bootcamp, BYLC chairperson Akhter Matin Chaudhury said, “To be a successful entrepreneur you need a bit of luck. But luck is not always an accident. Hard work brings with it its own luck. If you work hard, things will come to you.”
Speaking with the participants, Ken Wilcox, emeritus chairman, Silicon Valley Bank, said, “As a leader, you must be the person that you want others to be. Actively model the qualities you want to see in your team.”
While sharing his insights in a session on perseverance and grit, Kamal Quadir, CEO of bKash, said, “Startup founders need to have perseverance to follow through on their idea. Success in a startup is 1 percent idea and 99 percent execution.”
The bootcamp was supported by IKEA Foundation and the Embassy of the Kingdom of the Netherlands. Other partners included BetterStories Limited, LightCastle Partners, and Hatch Global.