Bridging the startup gap

In recent years, many Bangladeshi teenagers have won gold medals on international platforms for their innovative business ideas. But the question remains: can we create an environment where they can truly grow and thrive? This is a crucial challenge for our nation. While our young people are globally competitive, the current system often fails to support them beyond the initial award ceremony. We must bridge the gap between potential and reality.

My experiences as a country representative for two US-based start-up programmes, LaunchX and Students for the Advancement of Global Entrepreneurship (SAGE), have given me a unique vantage point. I have worked closely with young people across the country who develop globally competitive ideas, from sustainable energy solutions to AI-driven health technology. They are our nation's raw, untapped potential. Yet, as I reflected on a recent global innovation and commercialisation summit in Ontario, Canada, I was left with a disquieting question: where do all these brilliant ideas go?

This is a crossroads for Bangladesh. We have a vibrant, digitally native youth population, but our system is a leaky pipeline. We are good at producing raw talent but fail to capture and nurture it. At the summit, I was struck by the overwhelming presence of Israeli representatives. Many of their impressive projects came directly from universities. This is no accident. Israel, as I observed, consistently spends the largest percentage of its GDP on research and development worldwide.

This reality stands in stark contrast to our own. Our talented teenagers often hit a wall as they move from school to higher education. The dream of building a start-up is quickly replaced by intense societal pressure to secure a "safe" job, leading to what is commonly called "BCS mania", the single-minded pursuit of a government position. This risk-averse culture discourages the kind of experimentation that fuels a start-up ecosystem.

Our current support system for start-ups is well-intentioned but fragmented. The government's vision to foster a start-up culture is commendable, and the allocation of a Tk 100 crore start-up fund is an encouraging step. However, the real challenge lies in connecting this fund effectively to universities and innovative private-sector service providers. There is a severe lack of early-stage funding for young founders, a shortage of accessible mentors, and a policy landscape that is more labyrinth than launchpad.

To foster entrepreneurship, our universities must become more than just degree-granting institutions. Students, whether they are studying engineering, fine arts or social sciences, should be encouraged to present and develop business ideas. This would democratise entrepreneurship, allowing innovators from diverse backgrounds to emerge and thrive. Universities should also offer a minor in entrepreneurship, giving students foundational business skills and a structured pathway to turn their passions into viable ventures. During my Humphrey fellowship in the US, I saw the enthusiasm among students from non-business disciplines pursuing such minors at MIT and Michigan State University in particular.

The enormous opportunity of an AI-driven surge in entrepreneurship to harness our demographic dividend is something we must seize, even embracing the idea of founderless start-ups hinted at by publications such as The Economist.

Some might argue that we will catch up in time, pointing to the success of a few unicorns such as bKash and Pathao. But these are the exceptions, not the rule. The vast majority of our young innovators struggle to get off the ground, not because their ideas lack merit but because the foundational support system is missing. We need a shift in mindset, moving from celebrating individual success stories to building a sustainable ecosystem. The talent is here. What our youth lack is a system that believes in them and supports their journey from a brilliant idea to a solution that can tackle our nation's most pressing problems. The time to build that future is now.

The writer is coordinator of Ella Alliance and founder of Ella Pad