The world has long been captivated by Silicon Valley: the land of endless innovation, where founders start in garages and build tech giants. It is a formula that many have tried to emulate, but it's time for Dhaka to write its own recipe—one that works for our unique context, strengths, and challenges.

The allure of Silicon Valley is undeniable. But when we try to replicate this formula in Bangladesh, we quickly learn that Dhaka isn't Palo Alto, and it doesn't have to be. Dhaka has its own rhythm, strengths, and potential. We are a city bursting with energy, full of entrepreneurs who innovate out of necessity. We do not need another Silicon Valley: we need a Dhaka Valley.

To create the Dhaka Valley Recipe, we must embrace our context. In Bangladesh, startup founders don't have access to abundant venture capital or deep talent pools. Instead, we scale through resourcefulness, frugality, and community. When funding is sparse, we need to become profitable faster. When talent is scarce, we need to invest in people and focus on turning potential into excellence. Our founders often wear multiple hats—from sales to HR to operations and product management—roles that would be divided among many in Silicon Valley. This necessity breeds a kind of leadership that is nimble, empathetic, and deeply connected to the realities on the ground, making our founders agile and uniquely effective leaders.

A key ingredient of the Dhaka Valley Recipe is managing growth and ensuring sustainability. We cannot afford to fail before attracting large foreign investors. This means carefully managing growth and creating a solid foundation that draws global interest. Bangladesh often falls at the bottom of investors' priority lists (even within emerging markets), so our funding funnel must adapt accordingly.

The power of collaboration is also critical. In Silicon Valley, competition is often the driving force. Here, the power lies in collaboration—not just among founders but with customers, government bodies, and educational institutions. Our success stories are rooted in ecosystems where everyone benefits.

We must also embrace our people-centric approach. Silicon Valley focuses heavily on technology, often with a "move fast and break things" mindset. In Dhaka, we must focus on people—on the communities we serve, on the employees we nurture, and on the families we impact. The work we do must create real value for people's lives. Empowerment is not just a buzzword; it is the foundation of our businesses—one that can lift millions from informal, unrecognised work into structured and sustainable livelihoods.

Our growth in Bangladesh must be sustainable and inclusive. We cannot build for a handful while leaving millions behind. Instead, our growth must bring real economic change to those who need it most.

Finally, we need to understand the dynamics of attracting venture capital. Venture capitalists need a return, and they are willing to make bold decisions if your business shows extraordinary potential to become a billion-dollar enterprise. We need to give them confidence that they can expect 10-20X returns—so that even in the worst-case scenario, they see a 2-3X return.

The Dhaka Valley Recipe isn't about abandoning Silicon Valley's inspiration; it's about adapting it. Our challenges are different, and so are our strengths. We need solutions that work in our soil, crafted with our own ingredients. We need policymakers who foster innovation, investors who value impact, and founders who believe in this country's potential. If we can do that, we won't just create startups; we will create stories, change lives, and build an ecosystem future generations will be proud of. It's time for Dhaka to stop chasing the Silicon Valley dream and start living on its own.

The writer is the founder and CEO of Sheba Platform Limited