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iDEA Project, Microsoft sign LOI to boost startup ecosystem in Bangladesh

iDEA Project, Microsoft sign LOI to boost startup ecosystem in Bangladesh

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The Innovation Design and Entrepreneurship Academy (iDEA) Project of Bangladesh Computer Council (BCC) under the ICT Division and Microsoft has signed a Letter of Intent (LOI) to extend support to deep technology startups and accelerate homegrown innovations in Bangladesh.

iDEA Project Director and Joint Secretary Altaf Hossain and the Country Managing Director for Microsoft Bangladesh, Bhutan, and Nepal Md Yousup Faruqu signed the LOI on Thursday at a function at the iDEA Project office at ICT Tower in the city's Agargaon area, said a press release, reports BSS.

Senior consultant of iDEA project Siddhartho Goushami and other officials of the two organizations were present at the function.

Speaking on the occasion, Md Altaf Hossain said there are around 2,500 startups and impact enterprises in Bangladesh and over 200 startups are being added to this list every year.

Noting that this partnership with the Microsoft is a timely initiative to bolster the Bangladeshi startup ecosystem, he said, "We are excited to have the support of a globally recognized partner such as Microsoft to provide our local startups with the technology and tools needed to foster homegrown innovation".

"We look forward to working with iDEA, the central hub of the startup ecosystem of Bangladesh to empower entrepreneurs by removing traditional barriers to building a company and help founders innovate and grow, regardless of their background, location, progress, or passions," added Md Yousup Faruqu - Country Managing Director for Microsoft Bangladesh, Bhutan, and Nepal.

According to the release, Microsoft has pledged to offer support to local startups by providing access to the Microsoft for Startups Founders Hub program.