Bangladesh is a relatively new country, having emerged from its independence in 1971. 20 years later after its birth, poverty rates in the country were at a grim 40 percent - but due to rapid growth, this has massively reduced to 14 percent in 2016. The recent economic development of the region has been impressive with GDP per capita expected to surpass that of India by 2030. The country has been identified as ’The New Asian Tiger’, and this has been reflected by its receipt of over $3.5 billion in foreign direct investment (FDI) in 2020 alone - its highest level yet. It was the largest least developed country (LDC) in the world in terms of population and economic size, however the country has now graduated from LDC status in 2021 and is preparing to join the club of developing nations by 2026 and is further set to become the 28th largest economy in the world by 2030.
Over the past five years, the start up ecosystem in Bangladesh has been able to attract $400 million in FDI to date - and this thanks to a number of key drivers: strong economic vitals, a highly tech-literate young demographic, a fertile start up ecosystem environment, and finally, strong government tax incentives and policies. Bangladesh currently has 1,000+ active start ups, with 200+ new start ups born every year. With over $200 million in international VC funding brought in over the last decade combined with an increasing number of local accelerators and incubators acting as enablers - the country is only just getting ready for more growth. GreenBridge Capital is well positioned to access and participate in this exciting and phenomenal growth.