The government has planned to set up innovative hubs at three universities of the country to encourage researchers to be innovative in business models, commercially viable products and their marketing, according to an official document. To be named as “University Innovation Hubs”, the project is still at an early stage and the sites of the hubs are yet to be selected. It aims to develop digital entrepreneurship and innovation ecosystems. “This will be the government’s preliminary step towards embracing the upcoming 4th industrial revolution which will be digital centric,” says the document. Read: Bangladesh perfect example of innovation-driven development: Sajeeb Wazed According to official sources, the universities that can provide spaces of 3,000 sq ft to 5,000 sq ft will be eligible for the innovation hub. After the initial process, the eligible students will get funds from different projects.The innovation hubs will be expanded to both public and private universities in phases. The project is part of the government’s policy to inspire the young entrepreneurs to be more creative and innovative in new business models that will create more jobs. Read UCB to organize free workshop on digital skills with Monash College Australia As part of this process, the government formed Start-up Bangladesh in March 2020 with an allocated capital of Tk 500 crore to help new entrepreneurs innovate faster, create new jobs, develop technical skills and realise the vision of Digital Bangladesh, according to the document.

Dekko ISHO Group has signed a monetary and strategic capital investment agreement with Eco Via, a bioplastic initiative with its own innovation in compostable polymer, led by three young entrepreneurs from Dhaka. The signing ceremony was held in Dekko ISHO’s corporate office and attended by Prottoy Hossain, Director of Dekko ISHO Group, and the co-founders of Eco Via: Rashik Hassan, Riasat Zaman, and Ashfaqul Azam. “This endeavor is a step towards integrating more sustainable practices in our business operations,” said Prottoy Hossain, Director. He said they believe Eco Via will play a big role in ensuring global environmental sustainability and they are proud to be a part of their future endeavors. Also read: PM calls for massive tree plantation to save environment

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.

State ministers of two crucial ministries have promised to launch initiatives for the young entrepreneurs and employees who fear losing their sources of earning as the Coronavirus pandemic has slowed down the global economic and business growth.