BYLC Ventures held a six-day-long virtual bootcamp with more than 200 founders from 105 selected startups from May 4-9, 2021. From 105 startups, the top 30 will be selected to go forward in the final round. From the final group of 30 startups, the jury will select 5 startups who will receive seed funding of BDT 800,000 with the option of an additional BDT 1,500,000 as scale-up funding. The start-ups will also gain access to a world-class business accelerator program, in-house mentoring and networking support, legal and virtual CFO support, as well as a co-working space in BYLC’s Mohakhali office. Also read: BYLC Ventures opens applications for 3rd cohort These chosen start-ups will also receive rigorous leadership training. The intensive and interactive bootcamp sessions covered various aspects of developing a start-up idea - from identifying a real problem in society, refining the start-up’s solution for the problem, to making an understanding of the customer persona and demographics of whom to offer the solution. Also read: BYLC Ventures holds virtual entrepreneurship bootcamp Sessions also enlightened the diverse audience of Bangladesh-based founders on the art of storytelling for business, developing a go-to-market strategy, preparing and presenting accurate financial data and forecasts, the local legal and regulatory infrastructures to navigate, and effective methods for user research and customer feedback. The sessions were supplemented with workshops where founders worked with the facilitators to iterate their business model and develop their pitch decks.

EcoVia, a biodegradable plastic manufacturing startup, is working to combat plastic pollution by offering environmentally friendly alternatives. The organization uses plant-based waste, such as apparel and paper waste, to make bioplastics. Plastic is responsible for polluting water bodies and soil, and for disrupting the ecological balance. The main reason behind this destruction is the non-biodegradable nature of plastic. One plastic bottle takes 450 years to decompose if left on the earth or ocean. However, biodegradable products take much less time to decompose and do not harm the ecological balance.  Also read: Jute: The Greenest Alternative to Plastic Bags Moreover, with each kilogram of plastic produced, 6 kg carbon is released into the environment, leading to an increase in global warming. So, a group of three came together in 2019 to launch EcoVia to fight plastic pollution. They developed new products but were not satisfied with what they achieved. Finally, the group came up with the idea of making cellulosic bioplastic from cotton-based garments wastage. However, they did not have any capital to establish the company.  The group invested their money from part-time work, pocket money, prize money from small-scale business competitions into their startup. They scoured the market to identify the feasibility and viability of the product.  Also read: BYLC Ventures holds virtual entrepreneurship bootcamp The trio put in all their effort, time, and resources into this project. Finally, it bore fruit when they were able to prove that per kilogram of their bioplastic product would save around 5.5 kg of carbon footprint, as the product completely decomposes in a matter of 150 days. Through their impactful idea, they achieved success in multiple business and entrepreneurial competitions. They were elected as one of the South Asian regional winners of Climate Launchpad as well as being selected as one of the winners of cohort 1 of BYLC Ventures.  These competitions gave them a decent runway to operate on but they are constantly striving towards improving their product and gaining funds to grow their company. "The world is becoming more aware and cautious of climate change and plastic pollution. So, fortunately, the acceptance and demand for products like EcoVia are on the rise," Rashik Hassan, co-founder of EcoVia, said. "We are always trying to improve our existing product and also wish to introduce new product lines as well as ensure good revenue for our investors."  Read Global Youth Climate Summit 2021 urges pressing actions to combat climate change

BYLC Ventures has launched applications for its third cohort on March 18. The application window will remain open until April 15. The startup accelerator programme, which targets providing support beyond funding to aspiring startup founders, is looking for young entrepreneurs with dynamic ideas who can add value to Bangladesh's economy. Winning teams of cohort 3 of BYLC Ventures will receive seed funding of Tk8 lakh with an option of Tk15 lakh in additional investment. Moreover, the teams will have access to a co-working space, mentoring, and a rigorous accelerator curriculum for six months. Following the vision of helping passionate young founders get kick-started with big ideas, BYLC Ventures was launched in 2019. Also read: BYLC Ventures holds virtual entrepreneurship bootcamp The goal of the initiative is to fund Bangladesh's most promising founders, hone their leadership capabilities, strengthen business acumen, and help validate big ideas as they transition into the investable business. By providing technical support to validate a startup and seed funding to go fast to market, BYLC Ventures provides a set of acceleration support, including a plug-and-play commercial space to work from, customised business training led by successful CEO-turned-mentors, and a suite of professional support such as legal, accounting, and corporate governance. Thirteen startups have graduated under BYLC Ventures. These startups have created employment opportunities for over 200 people and generated combined revenue of Tk10,082,464. "Financial and legal compliance are big hiccups for any startup in Bangladesh. BYLC Ventures provides aspiring entrepreneurs with the mentorship needed to get past these hurdles and to grow and scale into sustainable ventures," BYLC Ventures Manager Barisha Rabbe said.

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.