Bangladeshi start-ups raised $165 million in 2021, whereas Indian counterparts raised $38 billion and Pakistani ones raised more than $350 million
Bangladesh has been consistently outperforming neighbouring India and Pakistan on various economic indicators, and its start-up scene — propelled by the government’s Digital Bangladesh vision — is growing at a breakneck speed.
And yet when it comes to raising funds from venture capitalists (VCs), the Bangladeshi start-up sector is dwarfed by those in neighbouring countries.
Bangladesh received over $750 million in foreign investment for start-ups in the last decade, raising the highest $165 million in 2021.
In that same year, Indian start-ups raised $42 billion, according to a report by Orios Venture Partners. And in Pakistan, whose start-up sector is still at a rudimentary stage, the companies raised more than $350 million, according to Pakistani consultancy firm Invest2Innovate.
According to industry experts and insiders, the narrative of Bangladesh in the global arena has been a major barrier to raising funds as most global investors do not know that Bangladesh has more to offer than just cheap labour and goods.
“Our storytelling needs to be better,” says Rahat Ahmed, the founder of Anchorless Bangladesh — a New York-based early-stage venture investment fund focused on advancing the Bangladeshi start-up ecosystem through access to global resources.
“As a country, we don’t often understand the criteria foreign investors look...
Read Full Story: https://www.dhakatribune.com/business/2022/03/27/why-do-investors-prefer-start-ups-in-india-pakistan-over-bangladesh
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