Govt eyes 5 unicorn startups in two years, 50 by 2041

Prime Minister Sheikh Hasina has said the government is working to support at least five startup companies to achieve billion-dollar value by 2025. Startups reaching a billion-dollar value are called unicorns and each of the unicorns should create one lakh jobs here. The number of such companies should grow to 50 by 2041 when Bangladesh aims to be a smart nation,” she said while speaking as the chief guest at the inaugural session of the “Bangladesh Startup Summit 2023. According to the government, the tech industry ecosystem that already has over 2,000 startups helped create 15 lakh jobs in the country already, thanks to the young talents’ continuous exploration for building change-making startups, government support to build an enabling environment and investors.

Source: https://www.tbsnews.net/economy/govt-eyes-5-unicorn-startups-two-years-50-2041-674118

Pathao receives Employment Catalyst Award from PM Sheikh Hasina

Pathao was awarded the Employment Catalyst Award by Prime Minister Sheikh Hasina on Saturday (29 July) for outstanding contribution to job creation, particularly in the youth segment. Fahim Ahmed, managing director & CEO of Pathao, received the award from the prime minister at the inauguration ceremony of the Bangladesh Startup Summit 2023 held at Hotel Intercontinental Dhaka, reads a press release. Since its inception in 2015, Pathao has created more than 500,000 jobs in Bangladesh through its market-leading ride-hailing, food delivery and e-commerce logistics businesses.

Source: https://www.tbsnews.net/economy/pathao-receives-employment-catalyst-award-pm-sheikh-hasina-673814

 US chipmaker to invest $400m in India by 2028

US chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. AMD said it will open its new design centre campus in Bengaluru by end of this year and create 3,000 new engineering roles within five years. The new 500,000-square-foot (55,555 square yards) campus will increase AMD’s office footprint in India to 10 locations. It already has more than 6,500 employees in the country. India in 2021 unveiled a $10 billion incentive programme for the chip sector, but the plan has floundered as no company has so far managed to get clearance for setting up a fabrication plant, the centerpiece to Modi’s ambitions.

Source: https://www.thedailystar.net/business/global-economy/news/us-chipmaker-invest-400m-india-2028-3382246