DHAKA, Dec 15, 2022 (BSS) - 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 today at a function at the iDEA Project office at ICT Tower in the city's Agargaon area, said a press release. 

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. This borderless platform is tailored to empower the ambitions of startup founders by offering resources including free access to Microsoft tools and platforms such as Visual Studio, GitHub, M365, Power Platform and Dynamics 365 to help the startups founders to turn their ideas into reality.

Eligible startups in Bangladesh will be able to get benefit from access to expert guidance including 1:1 technical advisory session and 24/7 technical assistance to overcome roadblocks and go forward. 

Besides, they will receive personalized mentorship through the Microsoft Mentor Network, and tailored learning paths, content, and events designed to help founders progress to the next stage of their startup journey.
The startup ecosystem in Bangladesh has been creating over 1.5 million employment opportunities, making a significant contribution to the country's GDP. With more than 750,000 SMEs benefiting from solutions produced by startups, entrepreneurs from all over the country have seen an increased ease in doing business.