Bangladesh, Nov. 3 -- The government is creating a venture capital firm to nurture start-up entrepreneurs as the country is still at a nascent stage of tech-based business innovation.
The Bangladesh Start-up Company with Tk 1.0 billion in paid-up capital and Tk 5.0 billion in authorised capital as per the Companies Act 1994 is now awaiting vetting of the law ministry.
The authorities are now looking into the legal framework of the company to make sure venture fund investments do not land in a few sectors only and that the funds are distributed equitably among the genuine entrepreneurs.
"We may get vetting within a few weeks, then it will go to the cabinet for its final approval," said Mojibul Hoq, an official entrusted with the job of fo...