Thursday, 7 July, 2022

BYLC Ventures opens applications for fifth cohort

Bangladesh Youth Leadership Center (BYLC) Ventures is launching a brand new cohort for young entrepreneurs to help them make their mark in the business world.

After successfully completing four cohorts, BYLC Ventures has started taking applications for its fifth cohort from May 19, 2022. The winning teams of BYLC Ventures Cohort 5 will receive seed funding of Tk 8 lakh with the option of a further Tk 15 lakh in additional investment. The teams will also have access to a co-working space, mentoring, and a rigorous accelerator curriculum for six months.

A total of 20 startups have received seed funding and training from BYLC Ventures since their inception. These startups have successfully created employment opportunities for over 300 people and generated combined revenue of more than Tk 3 crore. The year 2021 made headway for Bangladesh’s venture capital funding, as start-ups rose over US $166 million, a quantum leap compared to the numbers in 2020.

However, young entrepreneurs continue to struggle to find a strong footing and get the right supports to take their business forward, says Barisha Rabbe, Senior Manager, BYLC Ventures.