Government Policy

BYLC Ventures opens applications for fourth cohort

After completing three cohorts, BYLC Ventures started taking applications for its fourth cohort from November 1.

The start-up accelerator programme, which aims to provide support beyond funding to aspiring start-up founders, is looking for young entrepreneurs with dynamic ideas who can add value to the economy of Bangladesh.

The winning teams of Cohort 4 of BYLC Ventures will receive seed funding of Tk8 lakh with the option of a further Tk15 lakh in additional investment.

The teams will also have access to a co-working space, mentoring, and a rigorous accelerator curriculum for six months.

With a vision to help passionate young founders with their big ideas, BYLC Ventures was launched in 2019.

The business accelerator training’s goal is to fund Bangladesh’s most promising founders, and support their leadership capabilities, business acumen, and help validate their big ideas.

It provides a set of acceleration support, including 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.

Sixteen start-ups have graduated under the BYLC Ventures programme and have created employment opportunities for over 250 people, and generated combined revenue of more than Tk2 crore.

“Financial and legal compliance are big hiccups for any start-ups in Bangladesh,” said Barisha Rabbe, manager of BYLC Ventures. “BYLC Ventures provides aspiring entrepreneurs the mentorship needed to get past these hurdles and to grow and scale into sustainable ventures.”

The application window for the fourth cohort is open until November 25.

Source: United News of Bangladesh