Startup has been a popular word among the youth of Bangladesh recently
There used to be a time when most teens would have a goal of finishing their studies and getting a job
Nowadays most have a dream of building their own startup
What is startup?
Let's find an answer on startup for your curious mind
Lexically, startup means a new business initiative or project
It's an initiative where new ideas are formed with technology
to solve a pre-existing issue with something unique
Thus, serving a large number of people with services or products
But because the solution is rather unique, its success is not guaranteed
The initiators or the organization themselves fund the primary stages of a startup
Although, there's no regulation of differenciating startups regarding earnings and employment
But there are some characteristics that we can notice when it comes to startups
The difference between a startup and a small business is the probability of it growing, aka its scale-up
Though due to funds and investments, startups should be started from a small base
But every startup has a goal of reaching success
For example: Suppose you opened a restaurant in you area
This is a business
Because you can spread it by only a limited form
Whereas, food delivery services like Hungrynaki are startups
Because the possibilities and factors of it spreading is very large
Thus we can say: Every startup is a business, but not every business is a startup
Over the last few years, the ground for developing startups in Bangladesh has grown quite a lot
New startups are rising constantly to tackle many issues this country has right now
We have already seen a bunch of startups to gain success
Such as, Pathao
Pathao has made ride sharing a very popular medium of transportation, in a busy city like Dhaka, to tackle traffic issues
After many domestic and international investments, its price is now about 100 million Dollars or 820 crore takas
Bangladeshi startup initiators have to face some common problems
One of the main being, lack of skilled manpower
Besides, the people in the education and art fields of this country haven't developed an attitude of inventing something new
The social perspective about startups haven't changed either
Then there's the unwillingness of banks to invest in startups
But hopefully
Many government and non-government initiatives have been taken to create a favorable environments for startups
Some of which are: ICT department's Innovation Fund, A2i innovation fund and the recently found Idea Project which has a target of funding 200 startups
Besides these, many non-government incubators and accelerators have been developed
A notable one is, Grameenphone's GP Accelerator
So we can hope that
Maybe in the near future, startups like Facebook, AirBnb and Whatsapp would be rising from our country
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