Started while studying; Tk 18 lakh invested in a Jashore software firm with 23 staff
A young man from Jashore began in 2015 with an e-commerce site while still a student and now runs a firm doing software, networking and data work. He says funding, winning customers and running costs are the big hurdles for young founders.
According to a BSS report, in 2015, while studying electrical and electronic engineering at a private university in Dhaka, a young man from Sharsha upazila in Jashore decided to build a career in information technology. He first opened an e-commerce site selling various products, and that was the start of his software company. In 2017, when the Software Technology Park opened in Jashore, he came back to his home district, enrolled for a master's in computer science at Jashore University of Science and Technology, and took an allotment of 1,140 square feet in the park. He moved the Dhaka company to Jashore. So far Tk 18 lakh has been invested in it. The firm now does software development, networking and data work and employs 23 IT staff; he expects the headcount to grow several times over. At the start, his father and the rest of the family did not want him to go into business; he later convinced them. In his view the big challenges for young founders are raising funds, winning customers, building skills and operating costs. Competition in local and global markets is fierce, which makes winning customers hard, and banks impose many limits on IT financing. He wants easy-term bank loans and tax and VAT relief until a set level of growth is reached.
Lessons
- 1.You can start with a small online venture and move gradually into software services; student years can be the time to begin.
- 2.Taking space in a public software park eases access to infrastructure and skilled staff, but budget for the running costs.
- 3.Finding customers and raising funds are the biggest hurdles, so settle your sales plan and funding sources from the start.
We published this with the person's permission, without revealing who they are.
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