Polygon Technology and StartupDhaka formed partnership to transform Bangladesh's startup ecosystem

In a significant move to uplift Bangladesh's burgeoning startup ecosystem, Polygon Technology and StartupDhaka have joined forces to provide education, support, and guidance to the country's new generation of startups in their quest to build successful tech products by signing an MOU on June 15 at Polygon Technology’s office in the city. This partnership aims to nurture and empower the next generation of entrepreneurs, leveraging the expertise of both organisations to catalyse the growth of the startup landscape in Bangladesh.

Founded by local startup veterans, Polygon Technology is a leading tech company in Bangladesh that has made substantial strides in serving startups both locally and internationally. With a strong presence in the startup ecosystems of Bangladesh and Japan, Polygon has become a trusted partner for startups, banks, fintech, and telecommunications companies. For instance, Polygon technology helped "HAB" a Japanese shuttle management company funded by the Japanese government to ensure the safe commute of Japanese children's after-school extracurricular activities. With the help of HAB, Japanese working parents can now track their children's after-school movement directly from the app. According to Yohey Toyoda, founder, and CEO of HAB, “We are revolutionising how young school-going kids get to their after-school classes such as swimming, sports, music lessons, etc. Polygon and we have been building our proprietary Intelligent Route Management System, similar to UberPool, that enables children, parents, shuttle drivers, and after-school institutes to optimise their commute while providing security and comfort for all stakeholders involved. As a partner, Polygon truly puts our users above anything else - this makes working together special!”

Polygon technology’s extensive experience and expertise position them well to guide and support the emerging startups of Bangladesh. One example of that is WeGro Global. WeGro Global is a tech-based Agro Value Chain Company with a mission to improve the lives of farmers in Bangladesh. They're accomplishing this by facilitating access to finance by connecting individual and institutional financiers with farmers and their agricultural projects. “Polygontech is helping startups like WeGro to grow faster. With their supervision of product and expert engineers, our business growth accelerates at an outstanding level.”, stated Md Mahmudur Rahman, CEO & co-founder at WeGro Global.

On the other hand, as one of the pioneering platforms in Bangladesh, StartupDhaka plays a vital role in incubating early-stage startups, providing them with essential resources such as fundraising assistance, go-to-market planning, and product development support. StartupDhaka is committed to helping startups overcome challenges and reach their full potential by nurturing the entrepreneurial spirit and fostering an ecosystem conducive to innovation.

According to LightCastle Partners, Bangladesh is home to approximately 1,200 active startups. While there have been notable success stories like bKash, ShopUp, Pathao, Sheba.xyz, and Chaldal, the number of high-value startups is still relatively small compared to neighbouring countries like India. In 2021, India witnessed the emergence of a new unicorn startup every three weeks, highlighting the vast potential for growth within the startup space. Recognising the scope and the gap, the government and regulators have taken proactive steps to incentivise and support founders through grants and funding initiatives.

Mustafizur Rahman Khan, founder and CEO of StartupDhaka, emphasises the importance of providing guidance and foresight to new founders. By equipping them with the necessary knowledge and skills, StartupDhaka aims to ensure that these entrepreneurs are well-prepared to scale their businesses and overcome the hurdles that come their way.

Jawad Mubashwir, chairman of Polygon Technology, believes that while their primary vision is to catalyse IT exports in Bangladesh, they also bear the responsibility of sharing their invaluable learnings with the next-gen founders. By leveraging their own experiences and successes, Polygon Technology aims to inspire and empower emerging startups with technological support.

The partnership between Polygon Technology and StartupDhaka marks a significant milestone in Bangladesh's startup ecosystem. By combining their resources, knowledge, and networks, these organisations will provide startups with a comprehensive support system, covering critical areas such as product development, technological innovation, team building, fundraising, market planning, and more. Through collaborative initiatives and mentorship programs, the partnership seeks to create a robust ecosystem that fosters innovation, propels growth, and positions Bangladesh as a startup's regional hub.