Grand finale showcases ingenuity and entrepreneurial promise

The grand finale of the Future of Capitalism - Startup Competition, held on April 11 at Le Méridien Dhaka, marked the culmination of months of rigorous competition. Organised by the Institute of Business Administration (IBA) at the University of Dhaka, in collaboration with Praava Health and the Leo Lion Foundation, the event drew together some of the country's most promising entrepreneurial minds. The Mubarak Ali Foundation, acting as strategic partner through the Mubarak Ali Case Centre, played a pivotal role in supporting the initiative, while simultaneously advancing efforts to profile Bangladeshi business case studies on global platforms such as the Harvard Business Review. In parallel, the foundation has remained committed to cultivating the nation's startup environment through strategic academic engagement.

Special Assistant to the Chief Adviser, Ministry of Posts, Telecommunication & Information Technology Faiz Ahmad Tayeb attended the event as the chief guest. In an address that underscored the urgency of responsible innovation, he remarked, "The world faces an unprecedented level of challenge today-climate change, hunger and starvation, unemployment and so on. I believe we can solve these issues through innovative ideas that focus on social development, and not just creating a profit. And that is exactly what the Future of Capitalism should look like."

Following an intense intellectual contest, Team Airwork AI, comprising Sayem Faruk, Saiara Mahmud and Ishmam Tasdik Zihad, was declared the champion. They were closely followed by Team iPage and Team Dr Chashi as first and second runners-up, respectively. The winning teams are set to receive funding upon the successful completion of a due diligence process, enabling them to advance their ventures and continue their ascent as catalysts of meaningful change.

This year's competition drew over 450 teams from across Bangladesh, reflecting a growing appetite among young entrepreneurs to contribute substantially to the country's innovation landscape. After three demanding rounds of evaluation, the top eight teams progressed to the final stage. Along this journey, participants benefitted from focused mentorship provided by seasoned industry professionals, helping to refine their strategic thinking, operational execution, and market approaches. During the grand finale, finalists presented thoroughly developed business models, underscoring financial viability and long-term vision.

The adjudication panel brought together a group of leaders from both business and academia, including Aminur Rashid, chairman of Edison Group; Imran Rahman, vice chancellor of the University of Liberal Arts Bangladesh (ULAB); Kerry Breen, senior director at Brummer & Partners; Mohammad Abdul Matin Emon, chief operating officer of Praava Health; Sylvana Q Sinha, founder and CEO of Praava Health; Tanveer Ali, chairman, Constellation Asset Management, and Yan Llamas, chief innovation officer at Leo Lion Limited.

Professor Shakil Huda, acting director of the Institute of Business Administration at the University of Dhaka, commented on the broader implications of the competition: "As the pioneer business school of the country, IBA has always led from the front - and it brings me immense pleasure to see IBA organising our first-ever nationwide startup competition. I strongly feel that this initiative will not only strengthen Bangladesh's startup ecosystem but also inspire a new generation of bold business ideas rooted in social value and responsible capitalism."

Echoing this sentiment, Larry Sullivan, founder and chairman of Leo Lion Limited, stated, "We aim to inspire the next generation of Bangladeshi entrepreneurs to create social value alongside business success-just as we've strived to do every day for the past two decades."

Sylvana Q Sinha, founder, chair and CEO of Praava Health, also reflected on the significance of the day: "Today was a wonderful celebration of Bangladesh's next generation of visionary entrepreneurs. This was more than just a pitch event - the Future of Capitalism Bangladesh is aptly named as we look to reimagine the role of business in shaping a more inclusive, equitable future."

As the competition draws to a close, the Future of Capitalism - Startup Competition stands as a milestone in Bangladesh's entrepreneurial journey. By bridging academia, industry, and aspiring founders, it has established a dynamic platform poised to nurture the country's next wave of business leaders and redefine enterprise in service of both economic and social advancement.

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