The Founder Institute, the world's largest entrepreneur training and startup launch program, and Fenox Venture Capital, a global venture capital firm, have partnered to fund the next generation of aspiring entrepreneurs in Bangladesh, transforming new ideas into funded startups.
The two Silicon Valley-based organizations pledge to guide local founders through the entire process of developing high-growth technology businesses in sectors such as mobile apps, digital health and enterprise software. The strongest companies from the upcoming chapter of the Dhaka Founder Institute will each receive a $15,000 USD investment from Fenox Venture Capital upon graduation from the intensive 3.5 month program.
Last semester, two Graduates from the Dhaka Founder Institute received seed investments from Fenox Venture Capital: SmartKompare and HandyMama. Click here for the full story.
Aspiring Founders from across Bangladesh are invited to apply to the Dhaka Founder Institute here for a chance at one of the last few positions in the program.
The Founder Institute and Fenox Venture Capital share a commitment to fostering innovation in emerging markets, which is demonstrated by multiple symbiotic activities in different parts of the world. The two organizations decided to partner first in Bangladesh.
We believe in the entrepreneurial potential of the Bangladeshi people, which is why we launched a fund focused on Bangladesh. When we saw that another Silicon Valley based organization took an interest in the market, we decided that this presented a great opportunity to collaborate on helping entrepreneurs in the region." - Anis Uzzaman, founder and general partner at Fenox Venture Capital
To qualify for the investment, Founder Institute graduates must be working full-time on their businesses, must have formed an initial team and must be able to show substantial progress on their final product. Graduate companies will be nominated from a panel of entrepreneurs and investors at the graduation ceremony in February, 2016.
The Founder Institute program in Dhaka starts on October 27, 2015, and applications are due by no later than October 4th, 2015. The program already has over 100 applicants with over 75% of the available spots in the program filled.
About Fenox Venture Capital
Fenox Venture Capital is a global VC, headquartered in Silicon Valley and focused on providing seed, venture, and growth-stage funding to emerging technology companies in North America, Asia, and Europe. Fenox VC invests globally in Internet, mobile, social, cloud and emerging technologies areas. Its recent investments include Dream Link Entertainment (DLE), Terra Motors, Tech In Asia, Expect Labs, ShareThis, SideCar, Lark, Jetlore, Meta Spaceglasses and Jetlore among others. Fenox has just announced a $200M fund focusing on Bangladesh and executing it's first investment into Priyo.com.