With the slogan “My innovation, My Dream”, the contest was inaugurated at Sheikh Hasina National Youth Centre in Savar on Thursday, said a press release yesterday.

Innovation Design and Entrepreneurship Academy (iDEA) project of Bangladesh Computer Council under the Information and Communication Technology Division (ICTD) is organising the competition for the second time.

Prime Minister’s Special Assistant Barrister Shah Ali Farhad joined a session on “government policies to promote youth entrepreneurs”.

He said the government is working to encourage the youths in innovative activities and entrepreneurship to cope with the ever changing world.

Earlier, the contest kicked off on September 15 at the ICT Tower in the capital’s Agargaon. State Minister for ICT Zunaid Ahmed Palak attended the event as the chief guest.

The promotional campaigns were organised in more than 100 academic institutes and students registered for the contest online.

About 2,500 startups submitted their ideas in writing at the contest and 75 startups were selected primarily from university campuses. After participating in pitching rounds held at 24 venues of eight divisions, the selected were invited to attend the National Startup Camp.

This time, more than 200 students of 75 startups are participating in the camp. As per planning of the camp, workshops are being held since Thursday morning. The pitching round of the contest will be held on the 3rd day of the camp. The judges will select the top 30 potential startups.

Finally, the selection committee of iDEA project and experienced judges will select the best 10 startups among them.

Top 10 winning startups of the 2nd chapter will be awarded with a grant of Tk 10 lakh each and 20 more startups will be selected for grooming to make them matured.

After the grooming process is completed, if the startup can meet the targeted improvement criteria, then they will also be funded.

Details of iDEA project will be available on Startup Bangladesh website: startupbangladesh.gov.bd.

Leading youth platform “Young Bangla” under the “Centre for Research and Information (CRI)” is organising the camp.