The Innovation and Entrepreneurship Development Academy Establishment (iDEA) project under the Bangladesh Computer Council of the Department of Information and Communication Technology and North South University (NSU) will work together to create a sustainable startup ecosystem in Bangladesh with various research activities on innovation and entrepreneurship. In light of this, a Memorandum of Understanding (MoU) was signed between the two organizations on Wednesday, May 25.
Md. Altaf Hossain, Project Director and Joint Secretary of the iDEA Project, and Dr. Sajjad Hossain signed the MoU on the campus of the university located in the Bashundhara residential area of the city.
NM Zeaul Alam, Senior Secretary, Department of Information and Communication Technology and Prof. Atiqul Islam, Vice Chancellor, North South University were present on the occasion.
The North-South University Pro-Vice Chancellor. M. Ismail Hossain; RHM Alaol Kabir, Senior Consultant of iDEA Project; Adnan Jerin, Legal Consultant; Deans of various departments of NSU and other officials of iDEA Project were also attended the signing ceremony.
According to the MoU, various initiatives will be taken jointly for the development of entrepreneurial culture including various programs, training, awards and research. In addition, through this MoU, the two sides agreed to assist each other in various matters such as consultation, exchange of information, incubation, etc.
The iDEA project will be a partner in the North South University’s ‘NSU Startups Next’ event. The winning startups from this initiative will be awarded grants on the basis of evaluation by the iDEA Project Selection Committee. Besides, iDEA Project will cooperate in various activities related to boot camps, workshops, seminars and startups as per the mutual discussions, said Md. Altaf Hossain, Project Director and Joint Secretary of iDEA Project.
So far, 261 startups have been approved to provide pre-seed grants of BDT 10 lakh from the iDEA project, said Sohag Chandra Das, Communications Consultant, iDEA under the ICT Department. In addition to providing grants from the project, free startups are being allocated co-working space.