SME Foundation to create business incubation centres

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SME Foundation will probably set up a Organization Incubation Centre (BIC), 1 found in Dhaka and another found in Chattogram, to facilitate entrepreneurship development and create career, the non-profit said yesterday.

"Concurrently, a national technique for incubation facilities found in Bangladesh is in the ultimate stage of development," it added in a good press statement.

Cottage, small and moderate enterprises play an essential role in a good country's economical development. "Therefore, there is no alternative to strengthening these organizations in order to fortify the economy," stated Kamal Ahmed Mojumder, status minister for industries.

He was addressing a good virtual workshop organised by SME Base concentrating on the national strategy and to present the draft strategy for incubation facilities.

The BIC is something of supporting the development and scaling of growth-oriented early-stage enterprises.

The procedure provides entrepreneurs with an enabling environment at the start-up stage of enterprise development.

It generally targets supporting and promoting entrepreneurship, increasing employment through work creation, enhancing local, regional and countrywide research and development together with innovation.

"In Bangladesh, the understanding about the SME organization incubator or accelerator is still at an extremely nascent level," said Huliya Tetik, a good consultant on business incubation for the SME Production Project Period-2 which is funded by Asian Expansion Bank (ADB).

The idea of entrepreneurship established fact but you will find a need to raise awareness on the value of entrepreneurship and SMEs for the regional and national economy, she added.

Tetik went on to state that there was passion, interest, available resources and impressive ideas in the united states.

However, a roadmap, information sharing, leadership top quality, trained persons and connectivity are needed to forge an enabling environment that works with the start and growth of new SMEs, based on the workshop.

Revenue era to sustain the BICs is probably the primary challenges, Tetik said.

The draft strategy paper suggested establishing a countrywide coordination committee comprising representatives from various ministries, including that of industries, finance and ICT and different universities, as a way to setup and manage incubation centres throughout the country.

The panel will work to facilitate quick access to finance and tax benefits for entrepreneurs and also to recognise those who achieve success.

SME Foundation Chairperson Md Masudur Rahman said they might work to support entrepreneurs and implement the SME policy 2019.

SME Base Managing Director Md Mafizur Rahman moderated the session.


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