We look forward to witnessing your continued visionary leadership for a transformative and tech-driven Smart Bangladesh.
Heartfelt congratulations to Mr. Zunaid Ahmed Palak, MP, our visionary leader, on his triumphant national election victory and appointment as the State Minister of Posts, Telecommunications, and IT.
An electrifying day unfolded at the ICT Division as Mr. Zunaid Ahmed Palak MP, assumed his role as the State Minister for the Ministry of Posts, Telecommunications and Information Technology. In a dynamic gathering with department heads, project leaders, and company representatives of the ICT Division along with association leaders and private sector representatives he shared his visionary insights on the pivotal role the ICT Division will play in shaping a Smart Bangladesh. A spirited discussion fueled the session.
In this momentous event, Mr. Sami Ahmed, Managing Director and CEO of Startup Bangladesh, joined by Md Shamsul Arefin, Secretary of ICT Division and Chairman of the Board of Directors of Startup Bangladesh, presented a congratulatory letter to the State Minister for his resounding victory in the national election and subsequent appointment.
Honorable State Minister’s steadfast commitment to startup innovation, entrepreneurship, and ICT sector advancement serves as an inspiration. We eagerly look forward to witnessing the honorable State Minister’s ongoing transformative leadership, propelling Bangladesh towards progress and a tech-driven future. Once again, a heartfelt congratulations to Mr. Zunaid Ahmed Palak, MP, our visionary leader, on his triumphant national election victory and appointment as the State Minister of the Ministry of Posts, Telecommunications and Information Technology. – Team Startup Bangladesh 🚀
#SmartBangladesh #ictdivision #startupbangladesh
Startup Bangladesh Invests in Hishab – Telephony-driven Generative AI
Startup Bangladesh Limited, the flagship venture capital company of the ICT Division, invested in Hishab Technologies Limited. Hishab holds a prominent position as a global leader in telephony-driven conversational engines powered by generative AI.
An agreement was signed recently between the organizations in Dhaka to invest BDT 2 crore.
At the agreement signing event, MD Shamsul Arefin, Chairman of the Board of Directors for Startup Bangladesh and Secretary, ICT division, was joined by a distinguished group of individuals, including Sami Ahmed, the Managing Director of Startup Bangladesh, Zubair Ahmed, Founder along with Mio Ahmed, Co-Founder, & Fayadan Hossain, Co-Founder of the company, along with other key stakeholders.
Hishab has emerged as a front-runner in the field of Conversational AI powered by Generative AI and Telephony Artificial Neural Networks, with over 30 patents spanning 23 countries including India, Indonesia, Nigeria, and the ARIPO region. Hishab’s groundbreaking innovation enables individuals to utilize technology effortlessly with simple voice commands from any phone, feature or smart, eliminating the need for internet connectivity, smartphone applications, and digital literacy.
Hishab will shortly serve 8 million users in the Microfinance Industry to leverage Hishab’s Conversational AI to automate their desired financial services. Hishab is partnering with leading retail banks to introduce “HiPay” which allows individuals to send money via telephone conversation. Hishab’s call center solution is currently being piloted with “333”, inaugurated by the Honourable Prime Minister on October 18, 2023. In Japan, Hishab serves 22 million TEPCO customers through integrating with its Japanese-language call center solution. After a successful pilot with State Bank of India, Hishab will initiate a full-scale launch in the third quarter of 2024. Hishab also forged a partnership with a local FMCG company to automate the MSMEs of Bangladesh.
“Hishab’s expertise in innovation is the driving force behind its transformative impact in Bangladesh and other developing countries, where it owns intellectual property rights. This represents a source of national pride for Bangladesh, as it leads the world in the field of Telephony AI, a testament to the innovation and products originating from the country. Furthermore, the company is dedicated to addressing a crucial issue: the need for digital literacy. By offering user-friendly solutions, Hishab aims to serve all citizens, regardless of their background or economic status. I am confident that Hishab will play a significant role in the development of a ‘Smart Bangladesh’ and will leave a lasting imprint on the global technology market.” expressed Honorable State Minister Zunaid Ahmed Palak, MP, Ministry of Posts, Telecommunication & ICT on the occasion.
“Hishab’s service, which doesn’t depend on smartphones, internet connectivity, or mobile app downloads, and crucially, doesn’t require digital literacy, is set to revolutionize access to information and services for citizens. This “magic” is poised to become a primary means of accessing various types of information as Hishab’s reach expands. Additionally, this solution aligns seamlessly with the ‘Smart Citizen’ and ‘Smart Society’ facets of ‘Smart Bangladesh’, contributing significantly to the country’s progression towards a ‘Smart Economy,” stated MD Shamsul Arefin, Secretary, ICT Division and Chairman of the Board of Directors of Startup Bangladesh.
“Startup Bangladesh foresees Hishab as a company that will serve both local and international markets on a large scale. Companies like Hishab are expected to enrich the startup ecosystem in Bangladesh and potentially create a positive impact on the global investor community,” remarked Sami Ahmed, Managing Director, Startup Bangladesh Limited.
Mohammad Fayadan Hossain,Co-founder & Managing Director of Hishab Technologies Limited, “It is a pleasure to have Startup Bangladesh as our investor.We believe SBL will be an extremely valuable investment partner for Hishab, helping guide and support us to not only reach but positively impact every citizen of Bangladesh through telephony-driven Generative AI with our services.”
Startup Bangladesh Invests in Alice Labs – Global SaaS
Startup Bangladesh Limited, the flagship venture capital company of the ICT Division invested in Alice Labs, a leading global SaaS from Bangladesh. Their flagship product MyAlice is a Unified Social Commerce and Messaging Platform Empowering online merchants to convert every customer interaction into revenue.
An agreement was signed recently between the organizations in Dhaka to invest BDT 1 crore.
During the Signing of the agreement MD Shamsul Arefin, Chairman of the Board of Directors of Startup Bangladesh & Secretary of the ICT division, Managing Director of Startup Bangladesh Sami Ahmed, Head of Portfolio Investment Hasan A. Arif, Managing Director of Alice Labs Shuvo Rahman, and other stakeholders were present.
D2C (Direct to Business) brands are losing margins and revenue due to high aggregator commissions, high customer acquisition costs, and drop-offs from websites and messaging channels. MyAlice offers D2C brands by providing a unified platform for customer support, sales, and marketing to help increase their revenue while cutting operational costs. It brings Social & Commerce Together to build Seamless Checkout from Social Chats.
A 3x increase in sales is expected through social media by 2025 and MyAlice aims to play a pivotal part in this. More than 150 businesses across South Asia, Southeast Asia, and the Middle East use MyAlice to increase their revenues from online businesses. Currently, MyAlice is working on Generative AI-based automation to help their customers unlock additional sales opportunities.
“Innovation-driven startups are positioned as the catalysts for meeting market demands and steering a transformative trajectory for significant economic growth. The technological solutions pioneered by these startups play a pivotal role in propelling our nation toward the realization of a visionary future, harmonizing seamlessly with our aspirations for a Smart Bangladesh. With this investment, I believe Alice Labs will contribute to making a lasting impact in the industry and help build a better future,” expressed Honorable State Minister Zunaid Ahmed Palak, MP, Ministry of Posts, Telecommunication & ICT on the occasion.
“The remarkable work undertaken by Alice Labs in the SaaS industry has garnered our attention, and the investment from Startup Bangladesh will catalyze their outreach to a broader audience, both locally and globally. We anticipate that Alice Labs will play a pivotal role in contributing to the implementation of Smart Bangladesh as a startup. The ICT Division is actively shaping policies to support the growth of emerging startups in various dimensions,” stated MD Shamsul Arefin, Secretary, ICT Division and Chairman of the Board of Directors of Startup Bangladesh.
“Startup Bangladesh envisions empowering local startups to ascend to new heights, setting the stage for increased foreign investment. Alice Labs, a leading SAAS platform in Bangladesh, embodies innovation to tackle global challenges at scale. We see Alice Labs as a trailblazer for other SaaS companies emerging from Bangladesh, and with the right strategic focus, we anticipate a global impact originating from Bangladesh,” remarked Sami Ahmed, Managing Director, Startup Bangladesh Limited.
Shuvo Rahman, Managing Director of Alice Labs said, “We are honored to have Startup Bangladesh Limited join our seed round along with some reputed international investors. The future looks exciting, and with this investment, we plan to natively bring Generative AI into our product and scale our company globally.”
Startup Bangladesh in its effort to build a vibrant startup ecosystem that nurtures digitalization, has been investing in the most promising and impactful startups in Bangladesh and has continued that tradition by investing in Alice Labs.
For more news:
Future Startup.com: https://futurestartup.com/2023/12/27/startup-bangladesh-invests-in-alice-labs/
Startup Bangladesh’s portfolio health-tech startup Arogga – আরোগ্য has raised a total of $5.5 million in its seed funding round
Counterfeit medicine has become a significant problem in developing countries, including Bangladesh. Estimates suggest that fake drugs can make up 30% of all medicines sold in the open market at any given time.
Arogga is a Bangladeshi startup aiming to nip the issue in the bud by making genuine and affordable medication more accessible.
With this goal in mind, the company has recently raised US$4 million in fresh capital, bringing Arogga’s total seed funding to US$5.5 million. The new round was led by The Venture Collective, a US-based venture capital firm.
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ShopUp raises $22.5 million to digitize millions of mom-and-pop shops in Bangladesh
A startup that is aiming to digitize millions of neighborhood stores in Bangladesh just raised the country’s largest Series A financing round.
Dhaka-headquartered ShopUp said on Tuesday it has raised $22.5 million in a round co-led by Sequoia Capital India and Flourish Ventures. For both the venture firms, this is the first time they are backing a Bangladeshi startup. Read More
Complex angioplasty by Bangladeshi doctor recognised as world’s best
Complex angioplasty done by a cardiologist of National Heart Foun-dation Hospital and Research Institute (NHFHRI) has got international recognition as best complex angioplasty of the world.
In its continuation, the European Bifurcation Club in the year 2020 awarded an angioplasty procedure conducted by Prof Fazila-Tun-Nesa Malik, head of the department of cardiology at National Heart Foundation Hospital and Research Institute as the best complex procedure performed in the world. Read More
40 digital Bangla tools by ‘21: Palak
State Minister for ICT Zunaid Ahmed Palak on Monday said the government is working to develop 40 digital tools as people can use the technological platforms in mother tongue Bangla by 2021.
The activities of the public offices will be shifted from electronic filing to digital filing through integrating modern language tools, he said. Palak made the remarks while addressing a virtual meeting. Read More
Citi, UNDP stand beside young Bangladeshi entrepreneurs
The Citi Foundation and United Nations Development Programme (UNDP) co-created Youth Co:Lab as a platform for young entrepreneurs in Asia Pacific towards achieving sustainable development goals (SDGs) through innovative business solutions.
The closing event of “Youth Co:Lab Bangladesh National Springboard Programme 3.0”, was organized virtually by UNDP and Citi Foundation in association with the ICT Division on Thursday, to share the ideas of youth accelerating the implementation of SDGs through leadership, social innovation and entrepreneurship. Read More