IT Entrepreneurship in Bangladesh has gone a long way in the past decade. The IT industry in Bangladesh has matured and has already joined the mainstream. It has been significantly contributing to the national income of the country and has consequently provided high quality employment to many of the country’s young graduates.
The development of IT entrepreneurship in Bangladesh can be attributed to the effort of young, tech savvy entrepreneurs. In the last decade, many of the country’s young graduates, some even returning after studying overseas, ventured into the IT industry. They have established their IT business ventures in the country. Despite the many challenges, both local and global, their hard work and passion have enabled them to rise up to the challenge and they are now enjoying the fruits of their labor. The enthusiasm and persistence of these young entrepreneurs are certainly key driving factors of the remarkable IT entrepreneurship development in Bangladesh.
IT entrepreneurship has opened many opportunities in Bangladesh. Surveys show that there are about 800 software and IT enabled services companies in the country. This does not yet include unregistered small and home-based IT ventures. Over 30,000 professionals and young graduates are employed in the IT industry. IT entrepreneurs enjoy a considerably good income. Average monthly compensation is at Tk 15,000. This rate is higher than many jobs in Bangladesh.
Alongside the big boom of IT entrepreneurship in Bangladesh, recent studies have also shown that many companies in the country are involved in providing a wide range of IT enabled services to their clients. This means that IT entrepreneurship in Bangladesh is headed towards a very promising future. More and more companies have integrated IT into their systems and processes, thus, there will definitely be a continuous demand for IT professionals in the country.
The development of the IT industry in Bangladesh has also resulted to positive changes in the country. The larger Internet-user base has propelled for better connectivity across the country. More so, a significant number of companies have already provided for online payments, which brings more convenience to consumers. Many companies are also looking into diversifying on different web-based services such as listing services, online selling, e-learning, and online payments. These new business models are shaping the future of the IT industry in Bangladesh.
IT entrepreneurship in Bangladesh has indeed contributed significantly to the country’s economy. With fast and positive developments in the country’s IT industry, more and more of its citizens are able to enjoy a higher quality of living. Many young graduates have opted not to work abroad and explore employment opportunities in their own country instead. The IT industry has opened a whole new employment landscape for our young, tech savvy graduates. They do not need to go abroad for greener pastures. They now have the opportunity to stay in their locale and form part of the country’s growing base of IT entrepreneurs. IT entrepreneurship in Bangladesh has not only become a trend; it has been one of the country’s strong economic driving forces.
