Originally published in Light Castle Analytical Wing on 9 May 2020

Since March of 2020, Bangladesh is experiencing the wrath of COVID-19 pandemic. As business shut down due to the lockdown, the entire startup ecosystem has been shaken to its core, threatening thousands of startups that create over a million jobs. To understand the impact further, LightCastle Partners commissioned an independent study – “COVID-19 Impact on the Startups of Bangladesh”. The survey was conducted in late April with responses from over 200 startups from Bangladesh.

Bangladesh Startup Ecosystem at a Glance: 

  • There are over 1,000 startups in the ecosystem currently providing employment to an estimated 1.5 million people.
  • As of today, Bangladeshi Startups have attracted over U$ 200 million in international venture capital.
  • Currently, the most popular growth sectors in Bangladesh are Logistics, RideSharing, and Fintech.

The analysis found that:

  • 24% of businesses have stopped complete operation with 56% startups saw at least a 50% drop on revenue generation
  • 60% of Startups have runway less than 3 months threatening 1.5 million employment
  • U$56 million annual loss is now feared by a total of 300 startups in 2020

To learn more insights, visit the full report below:

Download the full report – COVID-19 IMPACT on Startups of Bangladesh