Mar 24 2021
The program’s goals include funding Bangladesh’s most promising founders, and supporting their leadership capabilities, business acumen, and big business ideas
After successfully completing two cohorts, BYLC Ventures has started taking applications for its third cohort from March 18.
The start-up accelerator program, which aims to provide support beyond funding to aspiring start-up founders, is looking for young entrepreneurs with dynamic ideas who can add value to the economy of Bangladesh.
The winning teams of Cohort 3 of BYLC Ventures will receive seed funding of Tk8 lakh with the option of a further Tk15 lakh in additional investment.
The teams will also have access to a co-working space, mentoring, and a rigorous accelerator curriculum for six months.
With a vision to help passionate young founders with their big ideas, BYLC Ventures was launched in 2019.
Their goals are to fund Bangladesh’s most promising founders, and to support their leadership capabilities, business acumen, and help validate their big ideas as they transition into investable business.
They also provide a set of acceleration support, including commercial space to work from, customized business training led by successful CEO-turned-mentors, and a suite of professional support such as legal, accounting, and corporate governance.
A total of 13 start-ups have graduated under the BYLC Ventures program. These start-ups have created employment opportunities for over 200 people and generated a combined revenue of more than Tk1 crore.
“Financial and legal compliance are big hiccups for any start-up in Bangladesh,” says Barisha Rabbe, manager at BYLC Ventures.
“BYLC Ventures provides aspiring entrepreneurs the mentorship needed to get past these hurdles and to grow and scale into sustainable ventures,” he added.
Applications for the third cohort are open until April 15, 2021. Interested applicants can visit BYLC Ventures’ website (http://ventures.bylc.org/) to learn more.