Bangladeshi startups should focus on these three industries:
Bangladesh is a steadily growing economy with a large middle class. The cities are among the most-dense in the world. The startup culture is burgeoning fast and bright minds are flocking in to build the next big company. As an observer of the eco-system, I see three areas that are ready for disruption with a large prize waiting for the winner::
1. Financial Services: The banking system in the country is essentially archaic and has not achieved much technological progress. While there are a number of banks, some may even argue somewhat over saturated, innovation is alarmingly absent. We have companies like bKash which is a bright spot in the domestic payment area but other than that the industry does not have any notable innovation in terms of disintermediation, equity (like crowdfunding platforms), personal finance (like Wealthfront), B2B and B2C payments etc…The industry is broadly left untouched so far and is ripe for disruption.
2. Education: The education system is divided geographically as well as socially. There is a significant opportunity for a startup that can bring quality education to children and adults either through micro-tutoring(like Gotit!) or through skill based content development (like Next Lesson). The proliferation of mobile technology should help any startup reach millions of students around the country. There are also significant opportunities for working with the current school system and improve the whole end to end process of sourcing and management (like educent) by focusing on disrupting the status-quo.
3. Logistics: There has been a number of ecommerce companies that has opened their shops in the market.It is very clear that this sector will continue to grow in the coming days. However, the logistics surrounding e commerce or regular commerce has not changed much. The problem of last-mile remains a challenge. So any startup that focuses on solving the logistical challenge of moving things around (like shyp or postmate) will make a significant mark.