Literacy

BYLC Ventures opens applications for 3rd cohort

The startup accelerator programme, which targets providing support beyond funding to aspiring startup founders, is looking for young entrepreneurs with dynamic ideas who can add value to Bangladesh's economy.

Winning teams of cohort 3 of BYLC Ventures will receive seed funding of Tk8 lakh with an option of Tk15 lakh in additional investment. Moreover, the teams will have access to a co-working space, mentoring, and a rigorous accelerator curriculum for six months.

Following the vision of helping passionate young founders get kick-started with big ideas, BYLC Ventures was launched in 2019.

The goal of the initiative is to fund Bangladesh's most promising founders, hone their leadership capabilities, strengthen business acumen, and help validate big ideas as they transition into the investable business.

By providing technical support to validate a startup and seed funding to go fast to market, BYLC Ventures provides a set of acceleration support, including a plug-and-play 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.

Thirteen startups have graduated under BYLC Ventures. These startups have created employment opportunities for over 200 people and generated combined revenue of Tk10,082,464.

"Financial and legal compliance are big hiccups for any startup in Bangladesh. BYLC Ventures provides aspiring entrepreneurs with the mentorship needed to get past these hurdles and to grow and scale into sustainable ventures," BYLC Ventures Manager Barisha Rabbe said.

Source: United News of Bangladesh