Department of Youth Development's 'Seed Fund' to Create 15,000 New Entrepreneurs for Youth
Department of Youth Development's 'Seed Fund' to Create 15,000 New Entrepreneurs for Youth
Even after receiving technical training, many rural youth are unable to start businesses due to a lack of capital and proper guidance. To address this financial and strategic challenge faced by rural youth, the Department of Youth Development (DYD) has undertaken a major initiative to modernize and expand its existing Seed Fund. Through the EARN Project, this fund is being made fully digital and adapted to meet the demands of the modern era.
Under this special sub-component, approximately 15,000 new entrepreneurs — selected from among trained youth — will receive direct seed financing to start their businesses. However, a special condition has been attached to the disbursement of this fund: financing will only be extended to climate-resilient and environmentally friendly business proposals, thereby contributing to the country's sustainable development goals.
To ensure that new entrepreneurs do not drop out due to lack of business experience, long-term incubation and mentorship programs have been arranged alongside the financial support. An advisory panel comprising experienced business professionals and subject matter experts has been formed to provide regular guidance and business networking support to these young entrepreneurs. The entire process — from application and candidate selection to fund disbursement and business progress monitoring — is being managed through a specialized digital portal and Mobile Financial Services (MFS). This is set to open an entirely new horizon for rural youth entrepreneurship in Bangladesh.