Dhaka, Bangladesh #263 Position in Global Startup Ecosystem Ranking

Startup Ecosystem in Dhaka 🇧🇩

TL;DR

Dhaka is currently ranked as the 263rd city in the Global F/MS “Best Cities for Startups” Index. As Bangladesh’s bustling capital, Dhaka combines rich cultural heritage with a rapidly evolving startup landscape, making it a unique place for entrepreneurs.

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Startup-Friendly Stuff 📈

1. Ease of Company Registration

• Business Registration: Procedures have been streamlined, but bureaucratic challenges may exist. Online registration is available to simplify the process.
• Startup Incentives: The government is increasingly supportive of tech startups, with various initiatives to encourage entrepreneurship.

2. Employment Law 🏢

• Labor Regulations: Comprehensive laws focus on employee rights; however, navigating these can be complex for new businesses.
• Hiring Foreign Talent: Requires specific work permits, but the government is aiming to ease restrictions on skilled foreign workers.

3. Taxation 💰

• Corporate Tax Rate: Generally around 25%, but new startups in specific sectors may benefit from tax holidays.
• VAT Regulations: Moderate VAT rates, competitive for technology and service industries, to encourage growth.

4. Quality of Life 🌆

• Living Standards: Affordable cost of living compared to many countries, although urban congestion can be a challenge.
• Culture and Leisure: Vibrant culture with historical sites and local cuisine; recreational facilities are improving for expatriates.

5. Bureaucracy 🗂️

• Ease of Navigation: While some processes may be slow, the government is working to simplify procedures for businesses.
• Government Support: Various government initiatives aim to promote innovation and support emerging startups.

6. Visas for Entrepreneurs 🌍

• Startup Visas & Permits: Progress is being made to provide easier pathways for foreign entrepreneurs, though options are still limited.
• Residency Options: Long-term residency options are available for qualifying investors and entrepreneurs.

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Startup Community 🤝

7. Networking Events

• Regular startup meetups, pitch competitions, and tech conferences help foster connections among entrepreneurs.
• Local universities and tech hubs often host events attracting international participants.

8. Subsidies and Funding 💵

• Government-backed financial incentives for tech and innovative startups.
• Incubator programs and grants available, focusing on sectors like fintech and e-commerce.

9. Venture Capital (VC) Presence

• Investments: Growing presence of local and international VCs actively seeking opportunities in burgeoning startups.
• Major Firms: Notable VC firms focusing on technology and service sectors, though funding can still be selective.

10. Incubators & Accelerators 🚀

• Several incubators targeting tech and social entrepreneurship.
• Programs often provide mentoring, workspace, and potential investment opportunities.

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Technology & Industry Priorities 🔧

• Focus Areas: Fintech, E-commerce, Agritech, and Healthtech are gaining traction within the ecosystem.
• Government Initiatives: Increasing emphasis on technology-driven economic growth and sustainable development.

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Business Culture 🏙️

• Language: Bengali is the primary language of business; English is widely used among startups and the tech community.
• Work Environment: Collaborative and community-oriented; entrepreneurs often share resources and networks.

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General Pros and Cons ⚖️

Pros:

• Relatively low cost of living and abundant talent pool.
• Growing government and private support for startups.
• An increasingly active entrepreneurial community.

Cons:

• Infrastructure challenges, including traffic and internet reliability.
• Bureaucratic hurdles can slow down business operations.

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Initiatives for Female Entrepreneurs 👩‍💼

• Various programs and mentorship opportunities are focusing on empowering women in business.
• Networking events and funding competitions specifically aimed at female-led startups are gaining traction.

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Dhaka presents an attractive yet challenging landscape for entrepreneurs eager to dive into an evolving startup culture set against the tapestry of Bangladesh’s rich history. 🚀

MeanCEO Index for Dhaka 🇧🇩

Dhaka, the vibrant capital of Bangladesh, is rapidly evolving as a startup hub. Let’s explore how the city fares for female entrepreneurs through the lens of the MeanCEO Index, assessing ten crucial factors that shape the entrepreneurial landscape.

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1. Weather ☀️

• Score: 6/10
  • Dhaka has a tropical climate with a mix of sunny days and a monsoon season. While winters are mild and pleasant, the heavy rainfall during the monsoon can impede outdoor networking.

2. Location 🏖️

• Score: 4/10
  • Although Dhaka is not near the ocean, it is close to rivers and lakes. Access to beaches is limited, which may detract from a coastal lifestyle that some entrepreneurs seek.

3. Women Friendly 👩‍💼

• Score: 5/10
  • Traditional gender roles exist, but there is a growing movement towards women’s empowerment in business. Various initiatives are underway to support female entrepreneurs, marking gradual cultural change.

4. Foreigners Friendly 🌍

• Score: 6/10
  • Dhaka is becoming more welcoming to foreigners. While making connections can be challenging, the expanding expatriate community is fostering a friendlier atmosphere.

5. English as a Business Language 📚

• Score: 7/10
  • English is widely spoken among the educated population and is prevalent in the startup community, making it easier for foreign entrepreneurs to communicate and conduct business.

6. Delicious Cuisine 🍷

• Score: 6/10
  • Bangladeshi cuisine is rich and flavorful, though onions are commonly used in many dishes. The food is generally healthy, but local wines are not produced, impacting the culinary score.

7. Ease of Getting Married and Starting a Family 💍

• Score: 5/10
  • The dating culture exists, but traditional views may influence dynamics. While handsome and active men can be found, work-life balance can play a crucial role in family planning.

8. Medicine 🏥

• Score: 5/10
  • Healthcare services are improving, with access to private facilities that offer prompt appointments. However, the affordability and quality can vary significantly.

9. Ease of Transportation & Traveling 🚍

• Score: 4/10
  • Transportation can be challenging due to traffic congestion. Public transport options are limited, although ride-hailing services are growing in popularity, and Dhaka has an international airport.

10. Startup Mindset 💡

• Score: 7/10
  • The entrepreneurial landscape is nurturing, with a positive attitude towards innovation and resilience. However, challenges related to bureaucracy and infrastructure may present hurdles.

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MeanCEO Index Score: 57/100 🎉

Dhaka is carving a niche for itself in the startup world, offering a unique cultural backdrop for female entrepreneurs. While the city presents certain challenges, such as transportation issues and traditional gender norms, there is substantial government and community support for women-led initiatives. With its growing network and evolving mindset, Dhaka is making strides toward becoming a more entrepreneur-friendly destination.

Here’s to the fierce and fearless female entrepreneurs of Dhaka! 🚀