In an exciting development for the Bangladeshi startup ecosystem, Polygon Technology and Startup Dhaka have announced a strategic partnership aimed at bolstering technological education and guidance for startups. Under the collaboration, the companies will work together to leverage their expertise, and experience, pool their resources, and networks, and establish a comprehensive support system for startups. The partnership aims to focus on areas such as product development, technological innovation, digital transformation, team building, fundraising, and market planning, according to a press release shared with FS.
Polygon Technology, led by seasoned startup veterans, is a prominent software solution provider in Bangladesh. The company has an excellent track record of working with both local and international startups.
For Instance, Polygon Technology helped HAB, a Japanese shuttle management startup, funded by the Japanese government, to ensure the safe transportation of children to their after-school activities. Through HAB's app, Japanese working parents can track their children's movements and optimize their commute to after-school classes. Yohey Toyoda, founder, and CEO of HAB, states the revolutionary nature of their Intelligent Route Management System, similar to UberPool, which prioritizes security and convenience for all stakeholders involved. Polygon's commitment to user satisfaction has made working together special.
Polygon Technology has also worked with several Bangladeshi startups. One example is WeGro Global, an agri-tech startup working to improve the lives of Bangladeshi farmers. WeGro app connects individual and institutional financiers with farmers. Md Mahmudur Rahman, CEO & co-founder of WeGro Global, acknowledges Polygon Technology’s instrumental role in their accelerated business growth through product oversight and the expertise of their skilled engineers.
Over the years, Polygon has established itself as a trusted partner for startups, banks, fintech firms, telecommunications companies, and other industries.
Mustafizur Rahman Khan, Founder, CEO of StartupDhaka, emphasizes the importance of providing guidance and foresight to aspiring founders. StartupDhaka aims to empower these entrepreneurs by equipping them with essential knowledge, nurturing their entrepreneurial spirit and skills to scale their businesses successfully and navigate challenges with confidence.
According to LightCastle Partners, Bangladesh currently houses around 1,200 active startups. Although success stories like bKash, ShopUp, Pathao, Sheba, and Chaldal have emerged, the number of high-value startups remains relatively modest compared to neighboring countries like India. In 2021, India witnessed the rise of a new unicorn startup every three weeks, underscoring the immense growth potential in the startup ecosystem. In response to this opportunity and the existing gap, the government and regulators in Bangladesh have proactively introduced grants and funding initiatives to incentivize and support founders.
Chairman of Polygon Technology, Jawad Mubshwir, envisions not only catalyzing IT exports in Bangladesh but also sharing invaluable learnings with the next generation founders. Drawing from its own experiences, Polygon Technology aims to empower emerging startups by providing them with the much-needed technological support to flourish in the market.