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16

Angel Investment / Tech-I Finalists Will Compete for more than $230,000 USD in Startup Resources

« on: November 16, 2018, 12:23:42 PM »

Tech-I Finalists Will Compete for more than $230,000 USD in Startup Resources

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Submitted by GIST STAFF on Fri, 2018-11-09 15:26
November 09, 2018

The U.S. Department of State is pleased to announce that Amazon Web Services (AWS) will provide more than $200,000 worth of AWS credits for the upcoming GIST Tech-I competition finals. This will be in addition to the prize pool of more $35,000 USD in seed capital for the winners.

The GIST Tech-I competition seeks to highlight young science and technology entrepreneurs across the globe. Entrepreneurs from around the world submit applications online which are then reviewed by experts and scored. The top 100 applications will go on to an online public vote and the applications that receive the highest combined score of votes and expert review go on to the finals.

The 2019 GIST Tech-I finals will be held at the Global Entrepreneurship Congress, In Bahrain. Finalists will undergo intense business training before pitching their idea or startup in front of an expert panel of judges for prizes, including seed capital. Don’t miss out on your opportunity to apply for your chance to get to the finals. The deadline of November 23, 2018 is fast approaching. Apply now at http://www.gistnetwork.org/GISTTechI2019

This year, Amazon Web Services has generously agreed to provide AWS credits to add to the total prize pool. Startups and entrepreneurs can use AWS credits on tech training and cloud computing platforms – critical capabilities for startups using technologies like artificial intelligence, the Internet of Things or data analysis.

This year’s AWS credit prize amounts are:

1st Place Startup: $50,000 in AWS credits
2nd Place Startup: $20,000 in AWS credits
3rd Place Startup: $15,000 in AWS credits
1st Place Idea: $25,000 in AWS credits
2nd Place Idea: $15,000 in AWS credits
3rd Place Idea: $10,000 in AWS credits
Outstanding Female Entrepreneur: $25,000 in AWS credits
Spirit of Tech-I: $5,000 in AWS credits
Finally, Amazon Web Services will award each of the finalists $1,500 in AWS credits. Capital seed prize amounts will be published closer to the time of the finals.

In total, the 2019 GIST Tech-I competition will award over prizes totaling more than $230,000 USD in startup resources, thanks to Amazon Web Services.

http://www.gistnetwork.org/content/tech-i-finalists-will-compete-more-230000-usd-startup-resources?fbclid=IwAR0GsURqRrVWxcdEE0kgAIDYyWXcnRWNsCdANkDVNzGYCqfv2txYc7aslgU

17

Seed Investment / ShopUp Raises $1.62 Million Seed Round Led By Omidyar Network

« on: November 16, 2018, 11:45:49 AM »

ShopUp Raises $1.62 Million Seed Round Led By Omidyar Network
Future Startup InsightNovember 13, 2018 0 
ShopUp announced on Monday that it raised USD $1.62 million in seed funding led by Omidyar Network, the impact investment firm established by Pierre Omidyar, the founder of eBay and participated by angel investors from Facebook, Google, Amazon, Grab, and leading global banks. The fund also includes a grant from UK AID.

ShopUp is a digital credit platform that helps online MSMEs access affordable working capital micro-loans at a reduced cost by automating their online sales and credit assessment process.

What you need to know
ShopUp helps micro, small and medium businesses and home-based entrepreneurs using Facebook and other social platforms in Bangladesh automate their online sales and get access to microloans.
Merchants can register via ShopUp’s mobile app or through the website to gain access to a range of shop management tools, including order management, catalog management, preferred rates for online ads, digital payments, and shipping solutions. Merchants, who are registered with ShopUp, can apply for a collateral-free loan via ShopUp’s mobile app.
ShopUp has a partnership with BRAC, one of the largest microfinance institutions globally providing working capital loans, to connect its micro-credit program to ShopUp merchants.
ShopUp said it will use the funding to enhance the core technology infrastructure of ShopUp’s credit algorithm, accelerate acquisition to 100,000 merchants, and establish partnerships with e-commerce players, logistics companies, and offline aggregators.
ShopUp currently has 28,000 micro, small and medium enterprises (MSMEs) on its platform, the majority of which are led by female entrepreneurs.
Why this matters
More than 60 percent of Bangladeshis are self-employed, and there are over 90 million internet subscribers in the country. Given the global trend, an increasing number of people are going to start companies in the coming days.
Finance and lending are fast becoming a critical space for technology companies in Dhaka. Ride-hailing and eCommerce companies and social media platforms have helped usher a new era of small entrepreneurs in Bangladesh who don’t get access to the traditional form of financing. ShopUp offers an alternative to these entrepreneurs. At the same time, we have seen companies like Pathao, Shohoz have shown interest in the space.
There are 350,000 shops on Facebook and nearly 300 e-commerce portals.
According to the World Bank, the total MSME credit gap stands at USD $2.6 trillion worldwide, due to the high operating cost (18 cents per dollar lent). The majority of this gap exists in developing and underdeveloped countries such as Bangladesh, where the majority of the 10 million MSMEs remains outside the formal credit system. Right now there are 350,000 MSMEs on Facebook in Bangladesh—growing at a 70 percent rate yearly. This creates a massive potential for algorithm-driven credit models like ShopUp, without high operating costs.
“Many entrepreneurs in Bangladesh still lack access to formal credit services, making it hard to grow and scale their small businesses,” said Afeef Zaman, the CEO, and cofounder of ShopUp in a statement. “There is a long tail of micro- and nano-enterprises with annual turnover of less than $20,000 who generally don’t have access to affordable credit due to high operating cost of micro-loans. Our unique model allows us to reach, engage and assess these MSMEs at a fraction of the cost using deep analytics and algorithm-driven models.”

“Access to flexible, affordable credit is the key to unlock growth in the MSME sector in emerging markets, and ShopUp’s mobile-friendly platform is helping to drive economic development, innovation, and employment in Bangladesh,” said Smita Aggarwal, Investments director at Omidyar Network.
https://futurestartup.com/2018/11/13/shopup-raises-1-62-million-seed-round-led-by-omidyar-network/

18

Seed Investment / Shohoz Raises $15 Million In New Funding To Take On Ride-hailing In Dhaka

« on: November 16, 2018, 11:44:53 AM »

Shohoz Raises $15 Million In New Funding To Take On Ride-hailing In Dhaka
Future Startup Insight | StartupsSeptember 24, 2018 0 
Shohoz, the Dhaka-based ride-sharing, and online ticketing platform, announced today that it has raised US$15 million pre-series B investment led by Singapore’s Golden Gate Ventures. Other investors participated in this round include Linear VC, 500 Startups and Singaporean angel investor Koh Boon Hwee. Shohoz lets consumers book car and motorbike rides for their daily commute, reserve bus seats, ferry, and even buy movie tickets from its website and app. It plans to use the fresh capital for customer acquisition, retention, and expansion into other on-demand services.

Shohoz aims to create a single platform that will provide the most convenient and simple solutions to help consumers solve their daily needs and hassles. It has previously hinted that it wants to become a ‘super-app’ to provide all major on-demand services like transportation, food, medicine, financial services, bus tickets, and more — all within one app.

Shohoz, funded by European and American tech angels, started its digital ticketing platform in 2014. It got into the ride-hailing business in early 2018. Within 6 months, Shohoz has become one of the dominant ride-sharing players, with rapid expansion plans into other services, such as food delivery and financial services. The startup currently is a team of 200 people in tech, marketing, operations.

“Shohoz means easy in Bengali. Our tagline is ‘Make life easy’. When we started Shohoz in 2014, our vision was to evolve into the number one online destination for Bangladeshis,” explains Maliha Quadir, founder and Managing Director of Shohoz. “We started with tickets, added ride-sharing in 2018, and are now executing on a grander “super-app” strategy. To help Shohoz finance this growth, Shohoz has brought onboard a great lineup of experienced international and regional investors that bring tremendous consumer technology experience, strategic foresight on technology trends in the region, and deep networks which will help us expedite the evolution of our Shohoz super app.”

“We’re honored to join Maliha and her team in their journey to grow Shohoz into the leading transportation and consumer platform in Bangladesh,” explains Justin Hall, Partner at Golden Gate Ventures. “Today Bangladesh has all the indicators of a country poised for tremendous growth: increasing digitization of consumer services, rising consumer purchasing power, and an incredibly dense, urbanizing population. Shohoz is emerging at just the right time and place to completely dominate the consumer landscape in Bangladesh.”

According to, Vishal Harnal, General Partner at 500 Startups, “Shohoz has, in record time, become one of the dominant personal transportation and ride-sharing platforms in Bangladesh. Having invested in similar category-leading companies in other markets, we’re confident that Maliha and her team are on their way to building one of Bangladesh’s most valuable and desirable technology companies that will significantly improve the way Bangladeshis travel, work and live.”

“Shohoz has been successfully implementing innovative projects that are playing a big role in our Prime Minister Sheikh Hasina’s vision for a Digital Bangladesh. This investment comes at a time where the local tech startup scene is booming and we are seeing increased investor interest in our economy of 160 million people and as such it’s a significant milestone for our local tech ecosystem”, said ICT state minister Zunaid Ahmed Palak.

“FDI in Bangladesh has tripled over last 3 years. This is the largest investment by a VC in Bangladesh to date, we are very excited to be welcoming our new investors and we wish Maliha and her team all the best,” said Kazi M. Aminul Islam, Executive Chairman of Bangladesh Investment Development Authority.

Bangladesh provides a particularly rich market for ride-sharing, thanks to its similarities with Indonesia in terms of dense, urban populations, poor transportation infrastructure (e.g., no subways, no large taxi-players), and people’s need to earn extra income. With its 160MM-strong population, Bangladesh represents enormous demand for consumer-facing services like ride-sharing, food delivery, and other financial services. As an affirmation of these trends, Alibaba recently invested in mobile payments platform bKash and Daraaz, the online ecommerce venture started by Rocket Internet. Recent studies by international organizations like BCG, HSBC, and the World Economic Forum have all cited the rise of Bangladesh as a next key Asian market.

Maliha Quadir started Shohoz at the end of 2014 with the mission to make life simpler for the common Bangladeshis, first by digitizing long-distance transport operators and offering bus tickets online. Maliha, a Harvard Business School graduate, is a veteran of the digital business, who previously worked for Nokia and Vistaprint out of Singapore, where she helped grow their respective businesses across APAC. She began her career at Morgan Stanley, working in Mergers & Acquisitions in the United States. She was named a ‘Young Global Leader’ by the World Economic Forum in 2017.

Update on September 24th: This story has been updated with new information.

https://futurestartup.com/2018/09/24/shohoz-raises-15-million-in-new-funding-to-take-on-ride-hailing-in-dhaka/

19

Human Resource / Building a Workforce for Digital

« on: October 18, 2018, 01:00:46 PM »

Building a Workforce for Digital
Increasingly, companies must understand that the needs of employees are not all the same.

By Greg Caimi and Ouriel Lancry

September 13, 2018   5 min read
 
 
ARTICLE  Building a Workforce for Digital
 
 
 
At a recent World Economic Forum workshop on the topic of successful digital transformations, a group of executives passionately debated the challenges of managing their most important resource, human capital. The participants ranged from major global retailers employing everyone from store clerks to AI gurus, to Silicon Valley tech companies, and even a start-up about to open its European headquarters.

All face the challenge of building a digital-ready workforce in an ever-evolving business environment. To do that, they agreed, any company must get two things right. First, they have to fill a clear talent gap in technological skills vital to digital strategy. Second, they must develop the 80% of their workforce already in place today who will still be there tomorrow.

The war for talent is not new, but the workplace is changing (see Figure 1). Employees today increasingly demand more than a paycheck. They want to believe that their work matters, to be part of a culture that fits their values, and to be engaged and inspired by their jobs. At the same time, companies have changing needs as well. They want to operate in a nimbler fashion with a more fluid, flexible workforce, and they need employees with contemporary skills. Talent strategy needs to balance the needs of both the employees and the employers.

Figure 1
Digital technologies have changed the needs of both employers and employees

Successfully acquiring, developing and deploying talent starts with a strategy that dictates what work will be done in-house (rather than by partners), how it will get done (by people or technology) and by whom (full-time employees, contractors or partners). Next, companies need to create a compelling value proposition for talent that includes training in new skills as well as development opportunities—a New Deal for Talent. This new deal isn’t just about training and development, but also about rewards: financial, developmental, and tied to mission and purpose. From there, firms can design modern talent management systems that smartly integrate digital tools to identify, recruit, engage, compensate, deploy and develop talent.

The group had a robust discussion about what motivates modern employees and what type of “deal” is required to attract and retain them. To appeal to the best and brightest, do you need to offer nap rooms, free lunches, a Foosball table and a corporate mission to save the world, or will a steady paycheck suffice? The answer likely varies significantly by sector, generation and skill set, but some themes are emerging.

Today’s employee still values security, predictability and status, but the form those attributes take is changing. Security becomes less about lifelong employment and more about lifelong employability, achieved through constant acquisition of new and relevant skills. Employees are not giving up predictability, but their timelines are shortening and their willingness to experiment in different roles and functions is growing. They do still value status in the form of fair compensation, benefits and rewards for outperformance, but in today’s flatter organizations, that status often comes from increasing responsibility and impact, rather than a march through a hierarchy of job titles.

These changes create a new set of challenges and opportunities for employers. A renewed emphasis on development will likely entail investments in training, apprenticeship and cross-functional rotations. Employers will benefit from creating strong, clear links between employees’ work and the purpose it serves. New systems reflecting these changes will need to be developed. Pay, for example, was historically keyed to things like revenue growth and profitability targets, both based on what an individual or team had accomplished. Now, different metrics must capture an individual’s contribution to a cross-functional group, or, in some cases, to nonquantifiable goals that span the entire company.

A big idea emerged from the conversation, that increasingly, companies must understand that the needs of employees are not all the same. Employee “segments” likely exist in the same way that customer segments do.

In the customer realm, we have moved to mass personalization down to the individual “segment of one." We anticipate customer needs, rather than simply react to them. Why can’t we apply the same logic to our employees? Can we identify unique needs among our employees and differentially serve them—offer individualized learning plans, tailored recruiting messages, even personalized rewards? Can we apply the same types of data and tools we use with our customers to our internal talent?

HR executives have already begun moving toward this nuanced approach. Recent research led by our Bain colleague Michael Heric found this group using sophisticated digital tools to fine-tune their understanding of each employee and improve career management, career planning and performance measurement.

In talent acquisition, digital technologies can personalize the experience of recruiters and candidates while expanding the talent pool, filtering for candidates with the right skills more effectively and helping identify future talent needs earlier. In workforce planning, it helps identify ideal team compositions and enhance collaboration among team members. In performance management and motivation, technology helps identify the metrics that truly matter for performance, and supports continuous feedback among employees, their peers and supervisors. In the realm of learning, it pinpoints training needs earlier, and improves reach, engagement and information retention through hands-on, accessible methods.

Early results of applying data-driven insights to talent management are strong. Studies have found machine learning can be up to 17 times more accurate than other methods at predicting who will resign, for example. Natural-language processing has helped recruiters at Johnson & Johnson, Atlassian, Twitter and other companies improve the quality of their job listings in order to enhance the inclusivity of their workplaces. Google’s dedicated People Analytics team is working on a wide range of challenges, from determining the best size and shape of a given department to reducing defections after maternity leave.

Companies creating a digital-ready workforce may find that the digital technologies that have forced them to consider new approaches to talent management become an important part of how they solve the talent challenge. We have only scratched the surface of what is possible.

Greg Caimi leads Bain & Company’s Digital practice in the Americas and is a partner in the firm’s San Francisco office. Ouriel Lancry coleads Bain’s Global Digital practice and is a partner in the Chicago office.

https://www.bain.com/insights/building-a-workforce-for-digital/

20

AI / How artificial intelligence is shaking up the job market

« on: October 15, 2018, 03:48:35 PM »

How artificial intelligence is shaking up the job market
Image: Dylan Nolte/Unsplash
17 Sep 2018
Igor Perisic
Chief Data Officer, LinkedIn Corporation, US
 
 
 
Key moments from Annual Meeting of the New Champions
What just happened? 10 highlights
20 September, 2018 08:46
Jack Ma says "be yourself"
20 September, 2018 02:30
Follow the liveblog Further reading arrow  white
Our Impact
Tackling the Gender Gap
 
Our impact Further reading arrow  grey
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Workforce and Employment
 Medium tyjxy qvli5wqrmhca38oeb7meblg9hjmbd8gpjrwi4
Explore the latest strategic trends, research and analysis Further reading arrow  grey
This article is part of the Annual Meeting of the New Champions
The future of work is usually discussed in theoretical terms. Reports and opinion pieces cover the full spectrum of opinion, from the dystopian landscape that leaves millions unemployed, to new opportunities for social and economic mobility that could transform society for the better.

The World Economic Forum’s The Future of Jobs 2018 aims to base this debate on facts rather than speculation. By tracking the acceleration of technological change as it gives rise to new job roles, occupations and industries, the report evaluates the changing contours of work in the Fourth Industrial Revolution.

One of the primary drivers of change identified is the role of emerging technologies, such as artificial intelligence (AI) and automation. The report seeks to shed more light on the role of new technologies in the labour market, and to bring more clarity to the debate about how AI could both create and limit economic opportunity. With 575 million members globally, LinkedIn’s platform provides a unique vantage point into global labour-market developments, enabling us to support the Forum's examination of the trends that will shape the future of work.

Our analysis uncovered two concurrent trends: the continued rise of tech jobs and skills, and, in parallel, a growth in what we call “human-centric” jobs and skills. That is, those that depend on intrinsically human qualities.

       
Tech jobs like software engineers and data analysts, along with technical skills such as cloud computing, mobile application development, software testing and AI, are on the rise in most industries and across all regions. But a number of highly “automatable” jobs fall into the top 10 most declining occupations - ie, jobs that have seen the largest decreases in share of hiring over the past five years. These occupations include administrative assistants, customer service representatives, accountants and electrical/mechanical technicians, many of which depend on more repetitive tasks.

Three growing trends

The impact of AI is not just theoretical any more; it’s very much part of our present. So we took a closer look at how the growing presence of AI skills in the workforce is impacting different industries and job functions globally. Our research into emerging skills around the world shed light on a number of growing trends:

● AI skills are among the fastest-growing skills on LinkedIn, and saw a 190% increase from 2015 to 2017. When we talk about “AI skills”, we’re referring to the skills needed to create artificial intelligence technologies, which include expertise in areas like neural networks, deep learning and machine learning, as well as actual “tools” such as Weka and Scikit-Learn. LinkedIn data shows that all types of technical AI skills are growing at a rapid pace around the world.

       
● While we see AI skills growing in every industry, our data also shows that industries with more AI skills present among their workforce are also the fastest-changing industries. If we consider “change” to be a proxy for innovation, then this indicates that the presence of AI skills correlates strongly with innovation within an industry. It also means there’s an opportunity for many industries to invest more heavily in their AI capabilities.

     
● AI skills are global, and the countries with the highest penetration of AI skills are the United States, China, India, Israel and Germany.

     
Have you read?
What if AI is coming for jobs faster than we thought?
The jobs of the future – and two skills you need to get them
There’s a global learning crisis and it’s leaving millions without basic skills
As the recent report makes clear, the anticipated impact of AI on the labour market fits neither of the polarized narratives that tend to hog headlines. It's estimated that by 2025, the amount of work done by machines will jump from 29% to more than 50% - but that this rapid shift will be accompanied by new labour-market demands that may result in more, rather than fewer, jobs. As the report notes, these predictions “[provide] grounds for both optimism and caution”.

While AI is unlikely to replace human workers, uncertainty remains regarding what types of jobs will be created, how permanent they will be, and what kind of training they may require. Preparing the workforce for these changes will depend on a data-driven approach to understanding the trends that are shaping the future of the labour market, and a commitment to investing in lifelong learning opportunities that can help workers adapt to rapid economic shifts.

As the world continues to invest in AI technologies, we’ll continue to assess their externalities and impact on the workforce, especially as they connect to opportunities for more effective reskilling and education initiatives. As new skills emerge, governments, educational institutions and employers should consider how they can most effectively develop learning programmes that equip people with the skills they will need to keep up with the modern economy.
https://www.weforum.org/agenda/2018/09/artificial-intelligence-shaking-up-job-market/

21

Newspaper / Bangladesh will make the biggest jump in global GDP ranking by 2030

« on: October 06, 2018, 10:44:32 PM »

Bangladesh will make the biggest jump in global GDP ranking by 2030
 FE Online Report | Published:  October 03, 2018 15:47:05 | Updated:  October 04, 2018 09:34:05



Bangladesh is likely to make the biggest jump in the global rankings of the size of the economies by the next 12 years, according to a long-term projection of the HSBC Global Research.

The country’s current global ranking of the Gross Domestic Product (GDP) is 42nd and it is set to become the 26th largest economy in the world by 2030, as per the projection.


 
Titled as ‘The World in 2030,’ the research report contains long-term projection for the current 75 top economies of the world.

“China is set to continue to be the single biggest contributor to global growth over the next decade and by 2030, will have become the world’s largest economy,” said the report.

“India is set to become the world’s third-largest economy in just over a decade, up from seventh today – leapfrogging the second- and third-largest developed economies of Germany and Japan,” it added.

Bangladesh is placed as one of the five fastest growing economies in Asia. Other countries are: India, Philippines, Pakistan and Vietnam.

But by jumping the biggest steps within a decade and two years, Bangladesh is set to replace Austria, which is now the 26th largest economy of the world, as per International Monetary Fund (IMF) estimation.

According to the HSBC projection, Bangladesh will outnumber Philippines, UAE, Malaysia, Pakistan, Austria, Nigeria, Ireland, Israel, Colombia, Hong Kong, Taiwan, South Africa Denmark, Singapore and Finland.

http://thefinancialexpress.com.bd/economy/bangladesh/bangladesh-will-make-the-biggest-jump-in-global-gdp-ranking-by-2030-1538560025

22

Startup / Solar Energy Startup SOLshare Raises US$1.66M To Improve Access To Clean Energy

« on: October 06, 2018, 01:05:13 PM »

Solar Energy Startup SOLshare Raises US$1.66M To Improve Access To Clean Energy For Rural Bangladesh
Future Startup InsightOctober 2, 2018 0 
SOLshare, the Dhaka-based solar energy company that enables P2P electricity trading, has raised a US$1.66M investment in series A led by IIX Growth Fund, a Singapore-based organization that seeks to support high-impact enterprises, according to a report from Singapore based Deal Street Asia. The other investors participated in the round are Silicon Valley-based Innogy New Ventures LLC (the venture capital investment arm of the German utility firm Innogy SE), and Portuguese utility firm EDP.

SOLshare plans to use the fund to expand its operation, increase access to clean energy for over 19,000 rural households and 14,000 micro-entrepreneurs in Bangladesh.

What you need to know:
SOLshare, founded in 2015 by Sebastian Groh, enables customers to produce, trade, and consume solar energy using a local microgrid. It has developed a peer to peer solar electricity trading platform that allows customers to sell their excess energy.
It uses an internally developed energy meter connected to solar panels called SOLbox that enables electricity trading between households and micro-enterprises
Bangladesh has five million solar home systems installed, SOLshare told Deal Street Asia. More than half of the country’s population has no access to electricity, and demand has reached nearly double the country’s generating capacity.
This offers an incredible opportunity for companies like SOLshare to grow and build a business at scale.
Sebastian Groh, Managing Director of SOLshare told Deal Street Asia that SOLshare’s aim is to create efficient and dynamic local energy markets that empower households and encourage solar entrepreneurship. After Bangladesh, the startup aims to replicate the model in India, and eventually go global.

https://futurestartup.com/2018/10/02/solshare-raises-us1-66m/

23

Startup / 3 Mistakes Every Startup Makes

« on: September 28, 2018, 03:26:49 PM »

24

Startup / The 10 Hottest Bangladeshi Startups To Watch In 2018

« on: September 28, 2018, 02:48:48 PM »

The 10 Hottest Bangladeshi Startups To Watch In 2018
With over 170 million people and around 147 million mobile subscribers, Bangladesh is one of Asia’s largest marketplace. This makes Bangladesh a land of opportunity for entrepreneurs.

A good number of entrepreneurs have already started experimenting with their ideas. And the results are stunning. We have already seen $100 million valued startup here in Bangladesh. That being said, Bangladesh has a growing number of startups to watch.

Here I’ll be sharing a list of 10 Hottest Bangladesh Startups To Watch In 2018.

Note: This post was first published in 2014. After watching a documentary by Startup Dhaka, I got excited and quickly published a post on Bangladeshi Startups. After 4 years, things have changed a lot. And so the list of Startups.

1. Pathao


Pathao is the fastest growing tech startup in Bangladesh. Founded in 2015, it has already become the leading ride-sharing platform with on-demand food & parcel delivery. It also provides logistics supports to eCommerce businesses. Pathao has recently launched ride-sharing service in Nepal.

Pathao is valued over $100 million. This year, they received $10 million from GO-JEK, an Indonesian tech startup. Pathao may come up with more services in the future like GO-JEK.

2. Sheba.xyz


Sheba.xyz is the largest services marketplace in Bangladesh. From AC repairing to Laundry service, Sheba.xyz has every kind of services one needs to make day to day life easier. It offers on-demand services like appliance & gadgets repair, beauty services, electrical & sanitary, home shifting and renovation, cleaning & pest control, car rental and many more. And all of these services can be found in one app – Sheba.xyz.

Sheba.xyz was one of the first five startups graduated from GP Accelerator Program. Now it’s valued over $10 million. It has investments form Grameenphone, GRUS, SD ASIA, Razor Capital, etc.

3. Shohoz


Shohoz is a leading online ticket booking service provider in Bangladesh. It offers bus tickets, launch tickets, events tickets, movies tickets, etc. Recently, it has started a ride-sharing service named “Shohoz Rides” in Dhaka.

Shohoz has raised $15 Million investment recently led by Singapore-based Golden Gate Ventures. It also has investment from FENOX VC, a California based venture capital company.

4. Chaldal


Chaldal is an online Grocery platform based on Dhaka, Bangladesh. It sells fruits & vegetables, meat & fish, snacks, dairy products, baby products, home appliances, and more. It has become very popular in Dhaka because of its one-hour delivery. Founded in 2013, Chaldal is already considered as the best online grocery shop in Bangladesh.

Chaldal was on the list of world’s top ten startups in 2015 selected by Y Combinator. It received investments from IFC, World Bank, and many other angel investors and venture capitalists.

5. Repto


Repto is a leading online education platform in Bangladesh. It has over 90 courses in Programming, Digital Marketing, Graphic Design, English Language, Entrepreneurship, Science & Technology, and more. It’s like a Bangladeshi version of Udemy.

Repto was one of the top 5 startups graduated from GP Accelerator Program. With the financing from GP, it also has received a good amount of investment from angel investors.

6. KhaasFood


KhaasFood is a Dhaka based safe food startup that aims to build a healthy food habit in Bangladesh. Started in 2015, it has already become the ultimate destination for pure and organic foods. Currently, it sells products like honey, milk, brown sugar, fruits, meat & fish, beverage, grocery items, etc.

KhaasFood started its journey with a capital of just 2 lac and now become a million dollar company. It has raised a good investment from some angel investors.

7. Doctorola


Doctorola is the first online doctor appointment booking service platform in Bangladesh. It has more than 8000 verified doctors from 63 districts. Besides appointment booking, it also helps users to find blood donors and hospitals. It has recently introduced e-sastho to make health care services easier. Another great initiative of Doctorola is Cancer Care.

Doctorola is one of the few local startups that has raised 20 million BDT from BD Venture Ltd.

8. HungryNaki


HungryNaki is the first online food delivery service provider in Bangladesh that covers Dhaka, Chittagong, Sylhet, and Narayanganj. With over 800 restaurants, HungryNaki makes it easier to get food delivered at home.

Started as a bootstrap company, HungryNaki has raised the first investment recently.

9. HandyMama


HandyMama is a service platform that provides services like cleaning, plumbing, electrical, home appliances, painting, pest control, pack & shift, and more. Launched in 2015, it has more than 1000 verified experienced handymen with over 30 service vendors.

HandyMama has received investment from Fenox Venture Capital.

10. CMED Health


CMED is one of the most promising health tech startups in Bangladesh. It’s a cloud-based health monitoring system for preventive health care. It offers a bunch of smart healthcare devices that include Smart Blood Pressure Monitor, Smart Glucometer, Smart Pulse Oximeter, Smart Weight Scale, Temperature Scale, etc. All of the data collected from these devices can be stored on a cloud service via a Smartphone app.

CMED Health has won the Innovation Prize at Seedstars Global in Switzerland. They will receive $50k investment from Seedstars. CMED was also one of GP Accelerator graduates in the second batch.

Conclusion
So these are the hottest Bangladeshi startups that are doing great.

Quick Navigation [show]
Now I’d like to hear from you. Which is your favorite deshi startup? Let us know in the comment.

And in the meantime, I want you to encourage to implement your ideas. Your idea may not be as big as above them. But real innovation starts off small. Start experimenting with your ideas.

https://roadtoblogging.com/startups-from-bangladesh/

25

Capital Market / BSEC approves regulations to attract small-cap companies to stock market

« on: September 24, 2018, 11:09:35 AM »

BSEC approves regulations to attract small-cap companies to stock market
 Niaz Mahmud

 
The stock market regulator has given approval to a set of laws that will allow businesses with small capital to enter the stock market.
At a meeting of the Bangladesh Securities and Exchange Commission (BSEC) on Thursday, presided over by Chairman M Khairul Hossain, he approved the proposals for public interest, according to a BSEC press release.
“The regulator is going to introduce a small cap platform, where a company having a paid up capital of Tk5 crore to Tk30 crore will be able to offload shares to the public,” DSE Managing Director KAM Majedur Rahman said.
Following proposals from the two bourses, the commission approved the BSEC Qualified Investor Offer by Small Capital Companies Rules 2016 that will be published on its website and in newspapers for public review.
On March 27, DSE submitted a number of proposals with necessary amendments to BSEC Qualified Investors Offer by Small Capital Companies’ Rules 2016, as well as a draft DSE small capital companies listing regulations.
On January 28, the CSE also submitted draft listing regulations.
The commission at the meeting also approved the proposal for making Dhaka Stock Exchange (Listing of Small Capital Companies) Regulations 2018 and Chittagong Stock Exchange (Listing of Small Capital Companies) Regulations, 2018, with some changes.
The regulator made the decision with an aim to form a small capital board on bourses.
Other initiatives include automation of Over-the-Counter (OTC) market, bulletin board for mutual funds, platform for small cap companies, changes in book-building method and reforms in other regulations, DSE MD Majedur said.
The regulator at the meeting also approved the draft BSEC shares acquisition rules 2018, with some changes.

https://www.dhakatribune.com/business/stock/2018/04/26/bsec-small-cap-companies-stock-market

26

Entrepreneurship / How to Start an Entrepreneurial Revolution

« on: September 24, 2018, 10:58:24 AM »

How to Start an Entrepreneurial Revolution

https://institute.coop/sites/default/files/resources/Isenberg%20-%20How%20to%20Start%20an%20Entrepreneurial%20Revolution.pdf

27

Term Sheet / VC Term Sheets’ Hacks and Tips

« on: September 23, 2018, 09:27:19 PM »

A Complete Beginner’s Guide to VC Term Sheets
By Chase Garbarino| July 26th, 2016|Categories: Guides|Tags: VC Term Sheets
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VC term sheets 101: What a Term Sheet is and What a Term Sheet is Not
What are VC term sheets? As explained by Founders Fund, the VC firm started by Peter Thiel, a term sheet is simply a contract that outlines the key terms of a deal between the startup and a VC and does not represent a legal promise to invest. The “Five Documents” that follow a term sheet – stock purchase agreement, investors rights agreement, certificate of incorporation, ROFR & co-sale agreement and voting agreement – are the true legal deal documents, based on the term sheet.

Key Terminology and Components of the VC Term Sheets
VC term sheets

Economic Terminology
Pre-Money Valuation- the value of the company before cash is invested. Beware of the option pool shuffle when negotiating pre-money valuation with VCs.
Post-Money Valuation- pre-money valuation + total new investment = post-money valuation. Brad Feld and Jason Mendelson did a deep dive on VC term sheet pricing back in 2005.
Type of Security- investors usually receive “preferred” stock in which they often receive the proceeds of an exit before common stock holders.
Liquidation Preference- primarily a down-side protection for investors in the event of a less than desirable liquidity event (sale, merger, bankruptcy, etc.) that returns money to preferred shareholders before common shareholders. Liquidation preferences today are typically 1x. Bo Yaghmaie of Cooley LLP has written a good primer on liquidation preferences.
Participation- enables investors to both see a return on their dollar-for-dollar investment defined by the liquidation preference, in addition to participating in the distribution of remaining proceeds based on their ownership percentage. These days, most investors see participation as piggy and less than friendly to those building the company, but if participation enters in to your negotiations, there are lots of details around capping participation outlined (See Founders Fund & Cooley article).
Option Pool- an amount of equity reserved for future hires. As mentioned in the price section above, option pools can have a great impact on the valuation of your company, as outlined by VentureHacks and Fred Wilson. Make sure you know the real valuation of your company with the option pool added in to the pre- and post-money valuations and make sure the amount is based on your real hiring plan.
Conversion- transforms preferred stock into common stock. As explained by Founders Fund, conversion can get sticky when participation caps, drag-alongs and IPO rights enter the game.
Anti-Dilution- provision used to protect investors in the event a company issues equity at a lower valuation then in previous financing rounds. Both Brad Feld and Fred Destin of Accel have covered anti-dilution and where it can really hurt entrepreneurs.
Pay to Play- ensures investors must invest a certain amount in later rounds or suffer penalties such as forced conversion to common stock, losing anti-dilution protection, losing various control rights. Pay-to-play can benefit the company if they hit hard times, though if a lead investor requires this provision it can make follow-on investors uneasy.
Dividends- sum of money paid regularly by a company to its shareholders out of its profits or reserves. As outlined by Brad Feld, dividends do not come in to play often in early stage VC deals.
Warrants- a security that gives investors the right to buy stock at a certain price within a certain timeframe. Warrants can add complexity to a cap table, but are a useful tool in certain situations.
Cost of Counsel- investors typically ask for some of their legal fees to be reimbursed. This should typically be between $25k-$75k.
VC term sheet terms review

Control, Investor Rights and Protection Terminology
Participation Rights- investors right of first refusal to invest in future rounds, usually their pro rata portion of the new financing. This is a market term and is in most every VC deal you will see.
Co-Sale and ROFR- investors right to sell stock to the same buyer, at the same price and same percentage that a founder or other major holder sells to. This provision is market and is fair to all parties.
Registration Rights- require the company to register investor stock for sale on the public markets. This is in just about every VC deal and not worth spending time on.
Board of Directors- body of elected or appointed members who oversee the activities of a company. Negotiations over board seats and board control are some of the most important points in negotiating your term sheet and there are varying opinions on how to go about building your board. Steve Blank advises entrepreneurs to be very cautious giving out board seats and to generally wait. Brad Feld advises startups to build their board early. VentureHacks advises startups to build a board that reflects the ownership of the company and for founders to care more about control than valuation. Paul Graham writes that it is becoming more common for founders to control a company through Series A rounds. Finally, Startup Lawyer outlines when having the majority of the board seats doesn’t mean controlling the company.
Voting Rights- investors require an approval right over actions that could be harmful to them. Founders Fund explains that a percent of holders of a particular class or series of stock is required to engage in certain acts such as a sale, additional financing, etc. This is normal, but they warn of investors seeking personal blocking rights by negotiating for approval thresholds they alone can block.
Information Rights- right to certain company information, usually performance metrics, financials, etc. This is typically required by VCs and understandably so. In order to protect sensitive company information, some companies will require a minimum amount of shares to be purchased to receive information rights.
Drag Along- provision that enables a majority of shareholders, sometimes in one class or series of stock, to force a sale of the company. If this provision is written so that a majority of all shareholders can force a sale, this can make sense, but Founders Fund explains how this can get sticky.
VC term sheets negotiation

VC Term Sheets’ Hacks and Tips
Term sheet hacks – Naval Ravikant of AngelList
A quick hack for speeding up term sheet and other negotiations – Mark Suster of Upfront Ventures
9 tips learned while raising $33M in venture capital – Dharmesh Shah of Hubspot
How to negotiate a term sheet – Jo Tango of Kepha Partners
Key Resources
What’s in a term sheet? The world’s most irritating not-quite-contract – Bruce Gibney of Founders Fund
Term Sheet Series Wrap Up – Brad Feld and Jason Mendelson of Foundry Group

https://www.fundingnote.com/blog/vc-term-sheets-guide-297

28

Term Sheet / Understanding Venture Capital Term Sheets

« on: September 23, 2018, 09:23:57 PM »

Understanding Venture Capital Term Sheets

http://www.hbs.edu/newventurecompetition/business-track/Documents/FH%20Boston%20Financing%20HBS%20NVC.pdf

29

Venture Capital / SoftBank leads $450M investment in Paytm’s e-commerce business

« on: September 23, 2018, 11:58:40 AM »

SoftBank leads $450M investment in Paytm’s e-commerce business
Jon Russell@jonrussell / 6 months ago
 Comment
Softbank CEO Masayoshi Son Press Conference
SoftBank  is at it again giving money to companies that rival startups it has already invested in.

The Japanese firm and its long-time ally (and existing Paytm  backer) Alibaba have come together to invest $450 million more into Paytm’s e-commerce business, Paytm Mall, as first reported by Mint. The deal is said to value the business at $1.6-$2 billion, with SoftBank providing around $400 million of the committed investment.

SoftBank is already present in India’s e-commerce space courtesy of an investment in Flipkart via its Vision Fund. The firm also previously backed Snapdeal which it tried to shoehorn into a merger deal with Flipkart that was ultimately unsuccessful.

Alibaba  meanwhile has been behind the core Paytm business, which specializes in mobile payments with plans for financial services, having invested $1.4 billion into parent firm One97 Communications last year. This new deal signals its crossing into the e-commerce business, too.

“This latest investment led by Softbank and Alibaba reaffirms the strength of our business model, growth trajectory, execution capability and the potential of India’s massive O2O model in the retail space,” Amit Sinha, Paytm Mall COO, told Mint in a statement.

SoftBank added: “Paytm Mall’s offline-to-online operating model, combined with the strength of the Paytm ecosystem, is uniquely positioned to enable India’s 15 million offline retail shops to participate in India’s eCommerce boom.”

Alibaba’s involvement in Paytm has seen the business — or rather, its many businesses — become proxies for Alibaba in India.

Paytm Mall has linked up with Alibaba’s Taobao marketplace in China to extend the reach of Chinese merchants into India. Similar arrangements have also been reached in Southeast Asia via Alibaba’s Lazada e-commerce business.

Alibaba has also got behind the mobile payment component of Paytm — which bears a likeness to its Alipay  unit — while you can see the influence of the Chinese firm, and in particular its Ant Financial  affiliate, with Paytm’s plans to launch digital banking and other online financial services in India.

Indeed, it was through investments by Ant Financial that Alibaba first became associated with Paytm. It’s not a huge surprise, then, to see that SoftBank — often a co-investor — is also spreading its influence across the Paytm business. After all, Alibaba needs all the help it can get to battle Amazon directly in India.

https://techcrunch.com/2018/04/03/softbank-leads-450m-investment-in-paytms-e-commerce-business/

30

Entrepreneurship / Principles For Success by Ray Dalio (In 30 Minutes)

« on: September 17, 2018, 07:08:54 PM »