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Future Startup Weekly 23: Trust, Pathao, Accelerating Asia, Better Founder, SWAP, and More

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Future Startup Weekly 23: Trust, Pathao, Accelerating Asia, Better Founder, SWAP, and More

BRAC, H&M Foundation and The Asia Foundation are looking for innovations in RMG: Winners to receive a fund up to $30,000

The Global Innovation Challenge under the STITCH for RMG project is inviting ideas and businesses that can help safeguard the jobs of women in RMG in Bangladesh while increasing factory capacity. Innovators from around the world are welcome to submit viable solutions by 25 November 2021. 

The competition is free to participate and six winning ideas will receive pilot execution grants along with incubation support. Interested innovators have to form a team of 2-3 members and submit their ideas through brac.us.skipsolabs.com. Learn more about the challenge here

Trust as a Management Strategy: It is often tempting to supervise people. If people know they are monitored, they should be working harder, we assume. You use certain tools, track the time and tasks of your people and ensure expected productivity. In some professions and work settings, this is an effective strategy. It drives results. Every hour can be measured, quantified, and accounted for. People are bound to deliver. However, there are risks associated with this approach as well. It indicates you don’t completely trust your people. You don’t rely on their ability to complete work on time, operate independently, and don’t believe they own their work. This second challenge can lead to potential disaster and destruction of your culture. Link

Hussain Elius Steps Down as Pathao’s CEO, Names Fahim Ahmed as the New Managing Director and CEO: Pathao Co-founder Hussain Elius has stepped down as Pathao's CEO, handing over the Managing Director and CEO role to Fahim Ahmed, the current President of the company. Mr. Elius will remain on the Pathao Board and engage with the management under a new role called Senior Adviser. Link.

Accelerating Asia Announces Fifth Cohort Startups: Accelerating Asia, an international accelerator VC for pre-Series A startups, has unveiled its fifth cohort. The company claims that just one month into the programme, the nine startups from Bangladesh, Malaysia, the Philippines, the US, and Vietnam have already increased their recurring revenue by over 40 percent to an average of US$20,000 per month. Cohort 5 of Accelerating Asia covers eight industries including fashion, e-commerce, fintech, healthtech, insurtech, and edtech that are poised for market growth and further digitisation. Since 2019, Accelerating Asia has invested in 100 founders from over 40 startups that have raised over US$36 million in investment to date, with 100 per cent of fund portfolio companies raising outside capital since joining Accelerating Asia. Launched in September 2021, Accelerating Asia’s US$20 million Fund II will gradually be used to bridge the market gap for pre-Series A investments in Southeast Asia and South Asia. Link.

3 Bangladeshi Startups Get Into the Latest Cohort of Accelerating Asia: Bangladeshi startups have been a regular presence in Accelerating Asia. For example, in last year's cohort 4, we saw 4 Bangladeshi startups out of 11. This year, out of 9 startups in cohort five, 3 are from Bangladesh. Link.

7 Tips From 7 Entrepreneurs On Becoming A Better Founder: 1. Always operate with a sense of urgency: Don’t wait for regulation to change. You should always operate with a sense of urgency. That’s something I regret. Often we unnecessarily wait for things to happen whereas taking action can make a huge difference.Running a startup is an everyday balancing act. Balancing process vs speed. Present vs future. Growth vs sustainability. These are the things a founder needs to be mindful of on a daily basis. Link.

An interview With Parvez Hossain, Co-founder, and CEO, SWAP: Parvez Hossain is the Co-founder and CEO of SWAP, a Dhaka-based fast-growing reCommerce company. Launched in 2020, within just two years, SWAP has become an important player in Dhaka's recommerce space and has experienced excellent growth helping take the nascent industry to the consciousness of the mainstream. It is one of the four Bangladeshi startups that have been selected in the latest cohort of Accelerating Asia.

In this wide-ranging interview with Future Startup's Tithi Chowdhury, Mr. Parvez reflects on his journey to what he is doing today, talks about how SWAP came into being and has grown from a small operation to a dominant reCommerce player in Dhaka, the state of SWAP’s business today and ambition going forward, offers insight into the reCommerce industry in Bangladesh, shares his takes on building businesses from scratch, and reflects on the lessons he has learned from his journey so far, and much more. Link.

Interesting Ideas 

The nothingness of money here.

Cultivating genius here.

Reve Group here.  

The Art of Building the Future: 06 Fascinating Founder Interviews on Entrepreneurship and Life

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