Winrock International and Bangladesh Venture Capital Ltd. have agreed to cooperate with a goal to improve the identification and scale-up of agricultural technologies in Bangladesh. To achieve this common goal both the parties have signed an MoU on June 04, 2018 at Daffodil Tower, Shukrabad, Mirpur Road, Dhanmondi, Dhaka.
Winrock International through its USAID Feed the Future Asia innovative Farmers Project is working to transform the lives of farmers by facilitating a regional ecosystem that fosters new technology, partnerships, and innovative practices in South and Southeast Asia’s emerging markets with a focus on Cambodia, Bangladesh, and Nepal.
Bangladesh Venture Capital Limited (BVCL) is a platform that connects entrepreneurs and investors.It is so formed to provide early stage funds for the new business ventures. It aims to make an investment eco-system for the start-ups, based in Bangladesh fostering a healthy economic culture for all the stakeholders. It encourages entrepreneurs to come up with innovation, in view to contribute to the national economy. It facilitates the potential entrepreneurs at every stage of their business development and channels capital requirements to drive for sustainable growth.
Through signing the MoU both the parties agreed to cooperate and share their respective role as follows:
- Introduce prospective start-ups and small businesses in the technology sector to BVCL for investment
- Leverage use of the project’s national and regional knowledge platform to disseminate information
- Participate in communications to international donors and funding agencies about activities under this MOU
- Engage in dialogue and information sharing activities with potential startups in Bangladesh about establishing and expanding business domestically and regionally
Bangladesh Venture Capital Limited:
- Conduct and coordinate business due diligence on potential start-ups and small businesses
- Provide equity investments into start-ups and small businesses passing due diligence activities
- Create an innovation and research platform for food and nutrition industries in Bangladesh
- Organize innovation and technology events to promote agricultural innovation and start-ups in Bangladesh
- Support development of the enabling environment of knowledge creation and dissemination for start-ups
Md. Maksudur Rahman, Country Director, Bangladesh, USAID Feed the Future Asia innovative Farmers Project signed on behalf of Winrock International and Mr. Golam Monowar Kamal, Managing Director signed on behalf of Bangladesh Venture Capital Limited.
Esteemed innovators, investors and other distinguished guests from different universities, research institutes, media participated in the event. It is hoped that this collaborative initiative will accelerate technological innovation and adoption in agriculture sector, improve the farmers’ life and therefore contribute in building better Bangladesh.