Bangladesh Bank Begins Selection Process for Young Entrepreneurs Today

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Bangladesh Bank has launched a special initiative titled ‘Uddyog’ (Initiative) to identify promising young entrepreneurs at the grass-roots level and advance their business ventures.

As part of this program, the final selection process for young entrepreneurs from the Manikganj district begins today, Sunday (November 8).

During the three-day evaluation program, leading business figures and corporate personalities of the country will assess the applicants' business plans, potential, and execution capabilities.

The evaluations will take place at the Bangladesh Bank Head Office from November 8 to 10.

Applicants from various upazilas of Manikganj will be interviewed, and their ventures will be evaluated to select the final candidates for financing.

This information was shared in a press release issued by Bangladesh Bank.

The full title of Bangladesh Bank's ‘Uddyog’ initiative is ‘Upazila Driven Youth Opportunity for Growth’.

The primary objective of the program is to foster promising young entrepreneurs from the grass-roots level, generate new employment, and invigorate the national economy.

Under this scheme, alongside evaluating business plans, there are plans to provide necessary mentorship and guidance to the selected entrepreneurs.

The panel of evaluators for the Manikganj selection process includes Syed Nasim Manzur, Managing Director of Apex Footwear Limited; Rubana Huq, Chairperson of Mohammadi Group; Mahmud Hasan Khan, President of BGMEA; and Fazlee Shamim Ehsan, Executive President of BKMEA.

Additionally, the evaluation panel features Naser Ezaz Biswas, former Chief Executive Officer of Standard Chartered Bank Bangladesh; Mahmudul Hasan Sohag, Founder of Onnorokom Group; and Fahim Ahmed, Chief Executive Officer of Pathao Limited.

According to sources at Bangladesh Bank, the initial phase of the program involves identifying and selecting entrepreneurs across eight districts in the country.

Following this roadmap, final evaluations for applicants from Manikganj are currently underway.

It has been reported that under this scheme, each selected entrepreneur will receive up to BDT 20 lakh, comprising a maximum loan of BDT 10 lakh and an equity grant of BDT 10 lakh.

Following a strong response in the first-phase districts, the search for entrepreneurs and the application process are being extended to the remaining 56 districts nationwide.

The current application window, which opened on November 1, will remain active through November 30.

Through this initiative, the central bank aims to discover prospective young entrepreneurs from remote areas across the nation and support them in turning their business ideas into reality.