From Idea to Business: Successful Story of the Entrepreneurial Journey with Entrepreneurship Development Cell

Over the past several years, there has been a notable movement in the aspiration of Bangladeshi youth to become entrepreneurs or company founders. In a nation with an approximate population of 180 million and an average age of 27.1 years (according to Worldometer), the increasing enthusiasm for entrepreneurship is a positive indication of economic progress.

The lack of full-time-paid job prospects is not only restricted to Bangladesh but also affects the worldwide environment. In 2023, In a survey of over 30 universities and polytechnics, we discovered that, on average, 30% of students in a class expressed a preference for pursuing entrepreneurship instead of choosing conventional jobs

The remarkable change in perspective is deserving of recognition, and the government and other stakeholders should be credited for their relentless efforts in inspiring young people to engage into entrepreneurship. International funding agencies are actively contributing to the promotion of entrepreneurship development in their programs.

However, despite the prevailing enthusiasm, it is an undeniable fact that a significant proportion of businesses encounter failure, with over 70% failing to survive beyond the initial year (according to CB insights).

Daffodil Polytechnic Institute adds a new dimension to this entrepreneurial world, where students can now take initiative toward their dreams of becoming entrepreneurs at an early age. Daffodil Polytechnic creates a role model for all educational institutions in that an additional push can change many students’ futures.

They have created an innovative and interactive module of acceleration boot camp for students. The boot camp included 4 sessions and 2 workshops. The sessions started on August 28, 2023, with 250 aspiring polytechnic students. The result was more exciting: 24 new startups started their journey, 5 startups started their first sale, and 2 startups raised a $1000 fund and connected with many partners.

After completing a successful acceleration boot camp, Daffodil Polytechnic Institute organized a fantastic “Uddokta Utshab” on October 8, 2023, with a total of 50 startups. The partners of the event were GEN Bangladesh, Bangladesh Venture Capital Ltd., knowledgevale, Dept. of Innovation & Entrepreneurship, Daffodil International University. In this event, there were many exciting features for new startups. They are Startup market, startup showcase, Startup Hurdle, Idea Preaching, Master classes and Panel discussion.

The master class was taken by the Honorable Chairman of Daffodil Group and GEN Bangladesh, Dr. Md. Sabur Khan. In this event some of the guests are Md Yousup Faruqu, Managing Director of Microsoft Bangladesh, Dr. Mohammad NuruzZaman, Advisor, Bangladesh Venture capital Ltd, Iqbal Bahar Zahid, Founder, Nijer Bolar Moto Ekta Golpo, Dr. Rubina Husain, SVP, SIYB Bangladesh, Biplob Ghosh Rahul, Founder and CEO, eCourier Ltd, Saraban Tahura Turin, CEO, Turtle Venture, Rathindra Nath Das, Executive Director & Principal, Daffodil Technical Institute, Mr. Muhymin Chowdhury, Director, Impact partner, Partnerships and Communications, SAJIDA Foundation, Mr. Md. Kamruzzaman, Assistant Professor and Head Dept. of Innovation & Entrepreneurship, Daffodil International University, Antara Raisa Khan, Analyst-Impact Investment & Partnership, SAJIDA Foundation, K M Hasan Ripon, Executive Director, Bangladesh Skill Development Institute.

The guests discussed many topics about the present conditions of the entrepreneurial ecosystem and gave some potential solutions. They said there are many entrepreneurs in Bangladesh now who have taken good initiatives, but most of the entrepreneurs go to one place and flop. Because they don’t want to maintain sustainability, they want to clear the market.

If students of Polytechnics in Bangladesh become entrepreneurs, no one can stop the development of Bangladesh. So we need to nurse them. To achieve this goal, The Entrepreneurship Development Cell of Daffodil Polytechnic Institute takes some innovative steps which starts from Boot Camp Triumphs to a Dazzling Entrepreneurs Festival! 

There are a total of 7 startups joining the startup market. They sell a significant amount of their product and get a chance to promote their product in front of customers and stockholders. Total 10 startups joined the Startup Hurdle. They find some of their critical problem’s solutions from the honorable guests and the audience. Total 300 students joined the interactive master class of Dr. Md. Sabur Khan, Honorable Chairman of Daffodil Group & GEN Bangladesh. In this master class, Dr. Md. Sabur Khan discussed common mistakes of entrepreneurs, the solution of time management problems and many important lessons. The panel discussion was the last but not least event in the Uddokta Utshab. The guests and students discussed many topics. They share each other’s story.

In the closing ceremony, all guests and students celebrated GEN Week and students got a huge opportunity of networking with the top level business men.

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