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owadays, telecom operators like GP, Banglalink, and Robi have chosen accelerators to launch and manage as many services as they want at once.
R Ventures is mainly an accelerator program that is offered by Robi Axiata Limited (mainly known as “Robi”), a leading digital service provider of Bangladesh. It is one of the most known digital entrepreneurship platforms in Bangladesh.
Robi made a noteworthy move by launching this program. R Ventures provides a platform for entrepreneurs so that they can nurture, incubate, and fund their ideas. Robi organizes this program with a target to provide needed guidelines and support to the enthusiastic, interested Bangladeshi entrepreneurs to start their own startups.
In 2018, only employees of Robi were allowed to take part in the very first batch of this incubator program. Robi provided initial seed investments for the ideas of employees that were selected through the program.
The following year, Robi made it open for all the eligible participants. Any individual or group can take part in the program if they have a viable digital business idea. They get every facility to turn their dreams into reality by completing the processes of this program.
Even the motto of this program is “Shopnotake Shotti Koro”, which means “Make Your Dream Come True”. Flawless training and continuous mentorship make them successful entrepreneurs.
Robi has planned to telecast the end-to-end program on national television channels to ensure crystal clear clarity. This will also make mass people interested to take part in such programs and also the idea of new digital services will be exposed properly.
In 2019, this incubator awarded a total of 8 startups and the total amount was 3 Crore taka. Also, participating in digital start-ups gained more than two crore taka worth investment on the investment day.
This helped R-Venture to achieve the place of the biggest investment platform for the digital start-ups of the country. The funding was handed over by State Minister for ICT, Zunaid Ahmed Palak.
R Ventures: Startups That Gained Investments
2,226 startups had submitted their ideas for R-Venture 2.0, of which only 12 got selected. Thorough R-Venture 2.0, the startups that gained investments are given below –
- Sigmind – Focuses on Artificial Intelligence (AI)
- Velvet Box – Delivers sanitary products to women through subscriptions
- Digital – Provides cashless tea vending machines
- Pearson – Connects freelancers and clients
- Aalo – Markets advertisement screens for public buses
- Fuel – Provides online fuel delivery
- Educate – Online tutoring platform
- Cookands – Home-based food delivery
- Hello Tasks – On-demand maid/household service
- Doctor Bondhu – Telemedicine service
- KhamarE-IoT – Cattle management device-based service provider
- Alo – AI-powered glass for the visually impaired
As per the organizers, behind launching this program, they had motives to get the country much new billion-dollar revenue earning companies which would obviously add to our economic growth.
Eligibility Criteria
There are some conditions to apply for this incubator, like-
- Applicant must be a Bangladeshi Citizen
- The participant can be any individual or group (Group can’t have more than three members)
- Persons affiliated with an R-Ventures program can’t participate
- Persons affiliated with judges/selector of teams can’t participate
- Startups that already have been funded by another accelerator program/organization can’t participate
- Ideas have to be applicable to all industries
- There are no age or gender restrictions
- Participants can be from any educational or professional background
This year participants will be called again to apply with their ideas. After that, 150 shortlisted contributors will pitch their ideas in front of Robi high officials. The officials will select 50 ideas which will join a start-up training.
Lastly, the participants will make a pitch for their ideas before expert-panel and that will be telecasted on national television.
In December, a final round will be organized where 15 to 20 contributors will participate. Winner will be selected from this round. This whole program will be telecasted live on TV.