The Rise of Young Entrepreneurs: A few Success stories for our new gen inspiration
Bangladesh, a nation once known for its poverty and dependence on foreign aid, is now witnessing a remarkable transformation driven by its young and dynamic population. Gen Z, with their entrepreneurial spirit and innovative ideas, is leading this change and inspiring the nation. This article highlights the inspiring stories of these young entrepreneurs, showcasing their determination, creativity, and impact on Bangladesh's economy and society.
The Rise of Young Entrepreneurs:
- Atif Ahmed Akkhor: Co-founder and CEO of IonSketch, a company that develops innovative, eco-friendly technologies. Their flagship product, the BD Highway Turbine, harnesses wind energy from highways to generate clean electricity.
- Tanvir Shahriar Rimon: CEO of Ranks FC Properties Ltd., a leading real estate company in Chittagong. Rimon's entrepreneurial journey began early, and his company has transformed the city's skyline with its modern and sustainable buildings.
- Tuli Elizabeth Costa: A young woman entrepreneur who overcame personal challenges to start her own mushroom cultivation business. Her success story is an inspiration for many, demonstrating that with determination and hard work, anyone can achieve their dreams.
The Impact of Gen Z:
- Technological Advancements: Gen Z's deep understanding of technology is driving innovation in various sectors, from e-commerce and fintech to healthcare and education.
- Social Impact: Many young entrepreneurs are driven by a desire to make a positive impact on society. They are developing solutions to address social issues such as poverty, education, and environmental sustainability.
- Economic Growth: The entrepreneurial spirit of Gen Z is contributing significantly to Bangladesh's economic growth. They are creating jobs, generating revenue, and fostering a culture of innovation.
Challenges and Opportunities:
While the future looks bright for Bangladesh's young entrepreneurs, they also face challenges such as limited access to funding, lack of mentorship, and a complex regulatory environment. However, the government and various organizations are working to address these challenges and create a more supportive ecosystem for young entrepreneurs.
Diana Award 2024: Meet the four Bangladeshi young changemakers
The Diana Award is defined by an inspiring motto: “Young people have the power to change the world.” This year, marking its 25th anniversary, the prestigious recognition celebrates 200 young leaders from around the globe, spanning 45 countries, for their impactful social initiatives. Four Bangladeshi youths have made it to the list.
The Diana Award recognizes and celebrates young changemakers aged 9 to 25 who have made a positive impact on society through humanitarian and charitable activities for at least a year.
Presented by the British Royal Family in memory of Diana, Princess of Wales, it is often regarded as the highest recognition a young person can achieve for their impactful work.
Prince Harry appeared at the virtual award ceremony on 5 December. The Duke of Sussex congratulated the recipients and said, “My mother’s belief in the power of young people to drive positive change continues to inspire me every single day. No matter the challenges we face, whether it is climate change, mental health, or systemic injustices, her legacy and the efforts of young people to inspire further action in the world fill me with hope.”
The Dreamer and Doer
His entrepreneurial journey began in 2017, but the seeds of ambition were sown much earlier. Observing his father's business operations ignited within him a profound desire to carve his own path. Entrepreneurship resonated deeply, feeling like a true calling. However, the absence of initial capital presented a significant hurdle to launching a conventional business. He was thus compelled to explore avenues for income generation with minimal financial input.
The digital realm offered a compelling solution: online commerce. The inherent lack of brick-and-mortar requirements drastically reduced startup expenses, while the flexibility of remote work held considerable appeal. Leveraging the readily available mangoes and molasses of Rajshahi, he initiated an online platform dedicated to selling these local products.
This initial online venture yielded profits in the range of TK. 16,000-17,000. Driven by a vision of greater financial returns, these earnings were strategically reinvested into a more ambitious undertaking: aquaculture. A pond was secured through a one-year lease, requiring an investment of TK. 6,000. Approximately 6 kilograms of fingerlings were introduced into this environment, and consistent care was provided throughout the year, with the online mango trade continuing concurrently. Upon reaching maturity, the fish were successfully sold in the local market, generating a substantial profit of TK. 76,000.
This success spurred further reinvestment and business expansion. He secured a lease for a larger pond, encompassing 15 Shatak areas, and procured an increased quantity of fingerlings. Unfortunately, a lack of experience in fish farming practices led to a considerable setback. The accumulation of toxic gases, a byproduct of regular feeding, resulted in the loss of approximately 60% of his fish stock. This unforeseen loss presented a significant challenge. Nevertheless, he persevered, maintaining the business operations until a break-even point was reached, albeit with minimal profit margins. This challenging experience provided invaluable lessons. He sought guidance from seasoned aquaculture entrepreneurs within the local community, and their expertise proved crucial for subsequent business growth.
The onset of the COVID-19 pandemic introduced further complications. Lockdown measures triggered unexpected surges in the prices of essential goods. The escalating cost of fish feed directly impacted his capacity to provide adequate nutrition to his stock, consequently hindering their growth and development.
Presently, his fish are exclusively distributed within the local market. However, he harbors ambitions for nationwide distribution in the future. Expansion plans include acquiring a larger pond and further increasing fish cultivation efforts. A valuable opportunity arose through his participation in training sessions hosted by Oxfam and LightCastle Partners, culminating in the securing of a TK. 1 lac investment following a rigorous selection process. While these funds are pending disbursement due to ongoing negotiations for a suitable pond lease, their potential impact on his business is fully recognized.
He maintains a steadfast belief in the power of hard work and unwavering perseverance, continuously pursuing impactful business ventures. He believes that success is attainable through persistent dedication and consistent effort.
Tuli, A young entrepreneur success story
Tuli Elizabeth Costa is a young woman of 22. She is a student and recently finished her higher secondary education. She has been living with her uncles since losing both her parents five years ago.
By the age of two, Tuli still could not stand or walk, as her left leg was shorter than the right and had less strength. She learned to walk slowly. When she was 4, her parents brought her to CRP for treatment and rehabilitation. She received therapeutic services here to strengthen her muscles and to enable her to walk without support.
After passing her Higher Secondary School Certificate (H.S.C) exam, she applied to receive computer training at CRP’s Madhob Memorial Vocational Training Institute. As a disabled person, Tuli was enrolled in this six-month program in January 2017. When attending her classes at CRP, she heard about other training programs supported by the Manusher Jonno Foundation and other donors, including the mushroom cultivation program, which interested her greatly. She thought about the empty space beside her house and set her mind on producing mushrooms there both for home consumption and for selling as a source of income.
To quote Tuli, ‘My favorite hobby is gardening. I enjoy mushroom production and my family helps me run the production properly. I want to expand the small business that I have started, whilst at the same time continuing with my studies which will hopefully lead to a job in the future.’
Tuli joined a months-old mushroom cultivation training program at CRP, and after the training, she started to grow mushrooms with her aunt at home. She is planning on being admitted to Savar University College to take up a Bachelor's Degree, while still continuing with her small mushroom cultivation business.
Conclusion:
The stories of Bangladesh's young entrepreneurs are a testament to the power of human potential and the resilience of the human spirit. As these young dreamers continue to transform their dreams into reality, they are not only shaping the future of Bangladesh but also inspiring generations to come.
We can and we shall overcome some one day the best Prestigious well-fare state nation in the world- A Prof. Yunus Bangladesh
Let's move forward to be an entrepreneur rather than run behind jobs. Be your own boss and create employment opportunities for others... read more posts:
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