The government’s flagship Startup Bangladesh initiative has so far invested around Tk 109 crore in 36 approved technology-driven startups, Posts, Telecommunications and ICT Minister Faqir Mahbub Anam told Parliament on Tuesday.

Responding to a starred question from ruling party lawmaker Md Ashraf Uddin (Narsingdi-5), the minister said Startup Bangladesh is currently operating under a combined funding structure that includes a proposed Tk 400 crore Fund of Funds and a Tk 300 crore Co-Investment Fund, reports UNB.

“The government has also taken initiatives to gradually increase the total fund size to Tk 1,000 crore in phases to expand startup financing and attract greater private and international investment,” he said.

According to the minister, a total of 55 startups were initially approved for investment under Startup Bangladesh. However, 19 were later excluded during due diligence and negotiation stages due to inconsistencies and disagreements over investment terms.

Of the remaining 36 approved startups, investments have been made in a wide range of technology and innovation-based ventures, including ride-sharing, edtech, fintech, logistics, healthtech and e-commerce platforms.

The investment portfolio includes companies such as Pathao Limited, Chaldal Limited, 10 Minute School, Shohoz, Shikho and MedEasy, among others.

Officials said these investments have significantly contributed to the country’s startup ecosystem, creating more than 7,000 direct jobs and helping portfolio companies achieve average revenue growth of nearly five times.

The startups have also paid over Tk 180 crore in taxes, which is nearly 1.7 times the total amount invested by Startup Bangladesh.

The minister said the portfolio companies are expanding into international markets, attracting follow-on investments and developing sustainable business models.

According to official data, about 80 percent of the investments have demonstrated positive growth performance.

However, the ICT Division clarified that Startup Bangladesh does not provide direct loans, as its mandate focuses on equity and equity-linked investments in promising startups.

To address the broader financing gap in the sector, the government is also working on specialised funding instruments to support early-stage innovation and entrepreneurship in the country, the minister added.