Palak called for formulating a startup policy

State Minister for Posts, Telecommunications and Information Technology Zunaid Ahmed Palak inaugurated the second Startup Bangladesh Summit on Sunday by pressing a mouse cursor. While speaking in a press conference held at the BCC Conference Center of ICT Tower, Agargaon, Palak spoke on the 10th anniversary of his tenure as the State Minister, and highlighted the plan of formulating a startup policy.

Referring to the benefits of the policy, he said, if the returns are low and the intellectual or technological capacity is high, then they get special opportunities as a smart up during public procurement. This will increase the business potential of startups.

Stating that the risk of investing in the government's own financing has been taken due to the lack of interest of domestic investors in creating entrepreneurs, Palak said that in the past three years, we have invested 120 crore Taka in about 36 startups. We are happy to increase their company valuation in the meantime. As a result, in this year's budget, the honorable Prime Minister has given another 100 crore taka to invest in startups. Through this, the government has set a unique example in the world. We can integrate 10 thousand startups in at least 10 ministries if we want.

As a client, therefore, Palak advised to invite 10 ministries, 20 departments and 50 companies to participate in this summit.

In his speech, the state minister urged the entertainment startups to come forward in addition to education and health. He said, I am expressing gratitude to the startups on behalf of the government as it was on the side of the government during the Covid19 pandemic. Hopefully, by 2041, the country will have 50 billion dollars and a total of 100,000 startups that will create employment for one crore youth. So those who are doing traditional business should be brought into startup mode through technology training.

Sami Ahmed, Managing Director of Startup Bangladesh Limited presided over the event. Shamsul Arefin, Secretary of ICT Department and Chairman of the Board of Directors of Startup Bangladesh Limited; Sabbir Rahman Tanim, Managing Director from Event Partner Windmill Advertising Limited; Managing Director from Communication Partner Asiatic Mindshare Limited Morshed Alam and Managing Partner Tasnuva Ahmed Tina; Founder and Managing Partner from SBK Tech Ventures, Sonia Bashir Kabir and others were present on the occasion.