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FE Special

The Blue Gold Innovation Challenge (BGIC) launched its activities at a ceremony  on December 18, 2016. It was held at Moar, Banani 11, Dhaka Bangladesh. The launching ceremony was attended by representatives from NGOs and entrepreneurs from all over Bangladesh.

BGIC is being organised by YY Goshti, a social business incubation hub in collaboration with Blue Gold Programme with financial contribution from the Netherlands Government. It is looking for innovative business solutions which address water supply management, agriculture and sustainable development of south west region of Bangladesh (Patuakhali and Khulna). It is a year-long programme which will help 20 would-be entrepreneurs to launch their own social businesses with training, mentorship and access to resources. The rewards for theTOP innovations include partnership and BDT 25,00,000- 50,00,000 funding opportunities from the Blue Gold Programme.

The south west of Bangladesh is a remote region where agriculture is the main source of income and farmers are dependent on water. Accelerating the development inside the target demographics requires new innovative approaches focusing on the empowerment of communities, the management of water resources, improvement of agriculture practices and the creation of business opportunities. Innovators, students, startups and organisations can apply with business ideas which will be implemented to improve the lives of the people in the target areas. BGIC already started its operations in Patuakhali on December 30-31, 2016.

The event was a chance for those in the development sector to come together and talk about some of the pressing issues in agriculture and water resource management that can be solved through innovative business solutions. Among chief guests was Ms. Lamiya Morshed, executive director of Yunus Centre. She shared her thoughts about social business and how the development sector can achieve social impact through more sustainable models. Mr. Boudewijn Sterk, manager of Innovation Fund, Blue Gold Programme and the partner of YY Goshti in this programme, was also present. He expressed anticipation in working in the agricultural and water resource management sector, paving the way for collaboration in the development sector that has not been done before. He was excited to see what new things can be achieved through this endeavour. Finally, Shazeeb M. Khairul Islam, founder of YY Goshti, shared that the YY Goshti team is looking forward to work with aspiring entrepreneurs while building some innovative businesses that can access funds from the Blue Gold Programme, using their expertise in incubating nextGENERATION businesses.

For more information, readers may write to Namista Tabassum, Director, YY Goshti at namista@sbyaglobal.