Beyond the Factory Floor
Bangladesh's ready-made garment sector is facing its most significant transformation since its founding. The brands that survive will be those that move up the value chain — fast.
Sultana Begum11 min read
business
The Unicorn Hunt
Can Dhaka produce South Asia's next billion-dollar startup?
Sultana Begum
Business Correspondent
6 September 20268 min read
With a young population, growing smartphone penetration, and a maturing venture capital ecosystem, Bangladesh's startup scene is poised for its breakout moment. But what will it take?
In 2021, bKash became Bangladesh's first tech company to reach unicorn status — a $1 billion+ valuation. Since then, the race has been on to find the next one.
The ingredients are in place. Bangladesh has 170 million people, of whom 40% are under 25. Smartphone penetration is growing by 8% annually. A $5 billion diaspora remittance flow creates natural pathways for fintech. And a government committed to a "Digital Bangladesh" vision has created favorable regulatory conditions for tech companies.
Venture capital is following. International investors like Sequoia Southeast Asia, Lightspeed India, and Y Combinator (which has now accepted five Bangladeshi startups) are paying attention. Domestic funds like BD Venture and Startup Bangladesh are seeding early-stage companies.
"The infrastructure of a startup ecosystem is being laid," says Shafiqul Islam, managing partner at BD Venture. "In 2028 or 2030, I fully expect to be celebrating a second unicorn. Possibly a third."
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