SBAC Bank Supports National Startup Fund

SBAC Bank PLC has contributed more than 2.58 crore taka to the national startup investment fund established under the initiative of Bangladesh Bank, reinforcing efforts to improve financial access for innovative and technology-oriented entrepreneurs across the country.

The cheque was formally handed over on Tuesday at the SME and Special Programmes Department of the central bank. Mr. Md. Rabiul Islam, Additional Managing Director of SBAC Bank PLC, presented the cheque to Mr. Nawshad Mostafa, Director of the department responsible for small and medium enterprise development and special programmes.

The contribution will be channelled through Bangladesh Startup Investment Company PLC, a specialised institution formed by Bangladesh Bank to facilitate equity financing for startups. The organisation plays a crucial role in providing funding to early-stage enterprises that often face significant challenges in obtaining conventional bank loans due to the lack of collateral or a long financial track record.

Several senior officials from both organisations were present at the ceremony. Among them was Mr. Mohammad Abdul Mannan, Executive Vice President and Head of Credit at SBAC Bank PLC, along with representatives from the central bank and other relevant departments.

The establishment of Bangladesh Startup Investment Company PLC marked an important step in strengthening the country’s startup ecosystem. By mobilising funds from commercial banks and financial institutions, the initiative seeks to encourage innovative entrepreneurship and promote the growth of technology-driven enterprises capable of contributing to economic diversification.

Access to funding remains one of the most critical barriers faced by startups in Bangladesh. While traditional banking institutions are often cautious about financing new ventures with limited operating history, the equity-based investment model adopted by the central bank’s startup fund enables entrepreneurs to secure capital without the immediate pressure of loan repayments. This approach allows businesses to focus on developing innovative products, expanding operations and creating employment opportunities.

Financial sector analysts believe that the participation of commercial banks in the initiative is essential for building a sustainable innovation economy. Contributions from institutions such as SBAC Bank PLC help expand the fund’s capacity to invest in promising ventures and accelerate the growth of emerging industries.

In addition to financial support, the programme also aims to foster collaboration between investors, entrepreneurs and regulatory authorities, ensuring that startups receive both funding and strategic guidance.

Key information about the cheque handover is summarised below:

Officials from both institutions expressed hope that continued support from the banking sector would accelerate the development of innovative enterprises and strengthen the country’s evolving startup landscape.