Startup Bangladesh rejected the 5-crore taka proposal for 10 Minutes School
Startup Bangladesh Limited's investment proposal of Tk 5 crore for 'Ten Minute School' has been rejected. The matter was revealed on Tuesday (June 16) on Startup Bangladesh's verified Facebook page. On the same day, State Minister for Posts, Telecommunications and Information Technology Zunaid Ahmed Palak confirmed the matter at the BSRF dialogue organized by Bangladesh Secretariat Reporters Forum (BSRF) at the media center at the Secretariat.
However, when asked why the investment was cancelled, the state minister said that 'the reason for the cancellation of the investment was breach of contract.'
It is said that the investment was canceled due to the status published by Ayman Sadiq on quota reforming movement. The state minister said, 'I will say that no matter who the person or organization is, they should be upheld towards the country, the country's independence, sovereignty, and the spirit of the liberation war. One can be a successful entrepreneur, a successful artist, journalist, lawyer; his political ideology can be different; But liberation war, Bangabandhu, there can be no dispute or debate on these issues. If someone takes an opinion or a position against the spirit of the liberation war, of course we have our word, even if he is a scholar, he should be abandoned.'
According to sources, the company was informed about the disinvestment by official mail on Monday. According to the NDA policy, the Startup Bangladesh authorities have expressed their inability to give reasons for the cancellation of the contract. However, Ayman Sadiq, the co-founder of Ten Minutes School, said that there is no obstacle in the policy.
However, he did not comment on this. A call was made on WhatsApp but there was no response from him.
Meanwhile, Ayman Sadiq, the founder of Ten Minute School, alleged that the investment was canceled due to the status being given in favor of the quota movement.
ICT State Minister Zunaid Ahmed Palak shared the cancellation of investment announcement on his verified Facebook page. He wrote, 'Taka 5 crore investment proposal for Ten Minute School was canceled by Startup Bangladesh Limited.'
Ten Minutes School was invested Tk 5 crore by Startup Bangladesh Limited. In October 2023, Ten Minute School, the country's leading online educational institution, received an investment of Tk 61 crore. The investment was led by venture capital firm Conjunction Capital, Peak Fifteen's Surge (formerly Sequoia Capital India) and Startup Bangladesh. Abdullah Abiad Raid, Ayman Sadiq and Mirza Salman Hossain Beg, three co-founders of Ten Minutes School, were present at the investment event.
There are more than 35 thousand recorded video lectures on board syllabus. In addition to this, Ten Minute School has more than 82 thousand quizzes. Ten Minute School also provides educational resources like model tests, e-books, and lecture sheets to regular students. More than 67 lakh students are using the educational app. Apart from this, more than one crore students are studying online every month from various contents on Ten Minute School website and social media.
