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Suraj Kripalani, Founder and CEO at BonBillo, had the opportunity to connect with startup founders, investors and ecosystem stakeholders in Bangladesh
On a recent trip to Bangladesh, Suraj Kripalani met with policymakers, investors, industry leaders and startup founders at the Startup Bangladesh Connect. A big thank you to Startup Bangladesh Limited, Bangladesh Investment Development Authority (BIDA) and the Government of Bangladesh's ICT Division for your warmth, hospitality and an amazing experience.
Here are some of his highlights:
1. It was inspiring to hear Chief Advisor Professor Muhammad Yunus speak about his journey from starting Grameen Bank and Grameenphone to seeing its impact scale and receive global recognition. Professor Yunus shared the power of business to solve problems and create a prosperous, inclusive and sustainable world. He encouraged the startup community to take risks and make things happen to create the world we wish to live in.
2. Policymakers are focused on supporting the local startup ecosystem with initiatives including a new fund of funds with Tk 900 Cr. (approx. $74M), improving ease of doing business and gradually reducing capital controls to increase foreign investment.
3. The quality of startups in the ecosystem was highly impressive. Tanveer Ali, Independent Director at Startup Bangladesh Limited, highlighted that Bangladesh startups have raised over $1bn with 92% foreign investment and created 1.5M jobs. The country already has its first unicorn in bKash, the leading mobile financial services provider, with several others likely in the next few years. Thanks to Nabila Nowrin and Nahid Sharmin for hosting an engaging speed networking session with founders at Moar's vibrant co-working space.
4. Suraj had the opportunity to visit ShopUp, a leading B2B marketplace, and hear about their growth journey from the leadership team. Huge congratulations to ShopUp on their merger with Sary backed by $110 million in funding to form SILQ Group, creating the largest B2B commerce platform across the Gulf and Emerging Asia. This is a fantastic win for the entire Bangladesh startup ecosystem.
5. Congratulations to BonBillo alumni, PriyoShop, a B2B marketplace in Bangladesh connecting over 106,000 MSME retailers to 270+ suppliers and brands on their growth and impact. Suraj was thrilled to see PriyoShop setting new standards with their green supply chain hubs powered by solar energy and EVs, a recently launched premium 'Dipty' rice brand, and innovative Digital Out-of-Home (DOOH) screens showcasing brand advertising at these MSME retailers.
Lakshmi Kalapu’s Playbook for Game-Changing Product Innovation
Lakshmi Kalapu, Director of Product Innovation at Visa in Singapore, shared her expertise in the art of building fintech products with our BonBillo community. She has built products for early-stage startups, scale-ups and established companies including PayPal, Wise and NIUM.
Key takeaways from our conversation:
1. Customer-Centric Approach: Lakshmi emphasizes the importance of placing the customer at the heart of every product decision. This approach ensures that solutions are not only user-centric but also commercially viable, ultimately exceeding market expectations.
2. 10x Better Solutions: Rather than aiming for incremental improvements, Lakshmi advocates for creating solutions that are ten times better than existing products. This ambitious goal is crucial for achieving swift product-market fit and standing out in competitive markets.
3. Empowering Teams with Autonomy: Innovation flourishes in environments where teams are empowered and trusted. Lakshmi highlights the importance of outcome-focused metrics and creating structures that allow teams to operate independently, fostering a culture of innovation and resilience.
4. Adaptability and Flexibility: Lakshmi notes that product innovation steps don’t have to be linear. Flexibility in approach, whether starting with a problem statement or identifying a niche customer segment, can lead to more effective and innovative solutions.
Read more of Lakshmi's discussion on the BonBillo blog:
https://www.bonbillo.com/blog/unlocking-the-art-of-product-innovation-insights-from-lakshmi-kalapu
BonBillo Impact Jobs Board - New Opportunities 🚀
Join one of our community startups contributing to AI-driven recruitment and logistics technology in India.
Babblebots helps companies hire better, faster and cheaper with conversational AI-Recruiters. 🤖
Freight Tiger's mission is to make logistics frictionless and reduce carbon emissions in India. 🚚 ♻️
Check out all open roles at BonBillo community startups on our Impact Jobs Board. If you're looking to recruit for your social impact startup, you can post a free job listing for greater visibility here.
Congrats to BonBillo alumni and community members on their wins! 🏆
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Divya Kamerkar, Co-Founder and CEO at Pinky Promise, has won the Bayer Foundation's Women Entrepreneur Award. Divya was selected from a remarkable 1,763 applicants.
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EatWell is partnering with the University of Massachusetts Lowell and BJ's Wholesale Club to advance their Food Is Medicine research. The study will explore how EatWell's meal kits, along with nutrition education can improve health outcomes for individuals with chronic conditions.
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