BSCIC, BIID to provide business support to CSMEs

Staff Correspondent

15 December, 2020 12:00 AM printer

Bangladesh Small and Cottage Industries Corporation (BSCIC) will provide business incubation facility and business development service to one lakh youth and women entrepreneurs.

In this regard BSCIC has signed a memorandum of understanding (MoU) with Bangladesh Institute of ICT in Development (BIID).

BSCIC Secretary Md Mofidul Islam and BIID’s Chief Executive Officer (CEO) Md Shahid Uddin Akbar signed the MoU on Sunday, says a release.  

Under the MoU, BIID will provide business support like incubation, proto-typing, co-working space and mentorship through its B-lab initiaitve.

The initiative comes as part of incorporating modern ICT-based business development services in BSCIC activities.

BIID will provide all the technical support for operation and management of the incubator, while BSCIC will provide all the logistic support along with facilitating the initiative with its local set ups.

On pilot basis, the the services will be provided to the entrepreneurs, especially women, of cottage, micro, small and medium enterprises in Gopalganj and Narsingdi districts.

However, online-based business support facilities will be available in all BSCIC offices. 

For the first time in the country, BIID has taken the initiative of providing incubation facility to small entrepreneurs at the local level through its B-lab initiative.

Local entrepreneurs will be able to take virtual incubation facility by connecting online from any place.

In addition, BSCIC activities include exploring and assisting potential entrepreneurs, providing pre-investment and post-investment advice on setting up industries, formulating project profiles and project evaluations, allocating improved industrial plots through setting up industrial cities or industrial parks, providing loan assistance to entrepreneurs, setting up the industrial product and many others to facilitate entrepreneurs.

BSCIC is also implementing various programs--- registration of small and cottage industries, remission and rationalization of taxes, VAT, import duty by sending recommendations to the concerned agencies, production of iodized salt, registration of industries.

According to the government's plan, BSCIC is conducting various activities to achieve SDG by 2030 and build a developed Bangladesh by 2041.

BSCIC Chairman Md Moshtaque Hassan, Director (Industrial Development and Extension) Md Khalilur Rahman, Director (Engineering and Project Implementation) Mohammad Ataur Rahman, Deputy General Manager (Development) Ratan Kumar Ich Sarkar, and Deputy General Manager (Technology) Md Mohiuddin, among others, were also present on the occasion.