Youths to play vital role in 4th industrial revolution, says BIDA chief

Bangladesh Investment Development Authority (BIDA) Executive Chairman Md Sirazul Islam said the youths of the country will play a vital role in the 4th industrial revolution.

"Innovators and entrepreneurs are working hand in hand and they should do so very closely. We are transitioning from the 3rd Industrial Revolution to 4th Industrial Revolution, which is still not fully operational in Bangladesh. We need to adapt to new technologies to prepare for this," said Md Sirazul Islam.

He made the comments on Monday at a virtual closing ceremony of the month-long campaign of Global Entrepreneurship Week 2020 (GEW 2020), organised by EMK Center and a collaboration between University of Liberal Arts (ULAB) and The Business Standard.

A summary of the massive campaign was presented during the event, said a press release.

Speakers at the event also discussed the future impact of promoting interest in entrepreneurship, especially among the youth.

The BIDA chief, who attended the event as the chief guest, highlighted that alongside their regular curriculum, compulsory training in operating modern technologies is also necessary for youths.

"Our new generation is much more tech-savvy than we are. Even so, some form of technical training is necessary for future innovation and entrepreneurship," he said. 

He also that with the country on the verge of celebrating its 50th year of independence, it is crucial to have young people engaged with innovation and new ventures.

"BIDA has its own projects on entrepreneurship and skill development. There are 25 agencies to provide training for young entrepreneurs. Strong collaboration is essential to maximize effectiveness," he added.

Joshua W Kamp, cultural affairs officer of the US Embassy in Dhaka, noted that the successful event undertaken by EMK is the culmination of a great partnership with ULAB and The Business Standard.

"The numbers do not tell the full story. What is more important is to see the way that Bangladesh, US, and other countries need the innovation of entrepreneurs," he added. 

He also said the world needs problem solvers as well as more women in businesses, classrooms, and board meetings, highlighting the importance of equality. 

Asif Uddin Ahmed, assistant professor at ULAB and acting director at the EMK Center, said the organisation has been proud of the latter's association with startups since its inception.

"We have been supporting young entrepreneurs with grants and strategic support. This campaign (GEW 2020) was focused on building partnership and facilitating systemic change to ensure entrepreneurship opportunities for everyone, anywhere," he added.

Special Adviser to the ULAB Board of Trustees Prof Imran Rahman said Bangladesh is focusing on entrepreneurship in different ways.

He also noted that universities are catering their courses to help startups.

"We now see lots of business graduates are getting excited about the world of entrepreneurship. A positive thing this time around is that industries and academicians are coming together, which will open up a new dimension in entrepreneurship curriculum," he said.

Prity Waresa, director of Sahoshika praised the EMK E-clinic initiative and said, "Our female entrepreneurs were in a very vulnerable situation during the pandemic. An e-clinic that introduces female entrepreneurs with digital media, business model was a great step taken by EMK."

One of the young entrepreneurs and EMK Envoy, Abdur Rahman Showrov attended an eight-hour pitch challenge titled Solve Pitch Win and said, "I have been participating in a lot of competitions, promoting GyanJam Ltd every now and then, yet I found the 1-hour training extremely useful. It may help us to rethink how we perceive things."

The Business Standard Deputy Manager (Event Activation) Shahed Latif also spoke on the occasion.

As part of GEW 2020, EMK Center organized 12 webinars and five training sessions under the themes of Education, Ecosystem, Inclusion and Policy, reaching over 40,000 audiences virtually.