What is demanded from a founder to truly succeed in the fast-evolving startup ecosystem? Does the responsibility of a founder only constitute effective leadership, or does it demand a deeper blend of other values like perseverance, grit, adaptability, dedication, empathy, a strong value system, credibility, and relevant experience? How important are the characteristics of a founding team to succeed and what are the challenges a founder should acknowledge before scaling their venture?
These, along with important tools and frameworks for constructing a world-class pitch deck and the techniques for delivering a fantastic elevator pitch to attract investment were the major learning objectives for the BYLC Ventures: Cohort 3 Bootcamp.
BYLC Ventures held a six-day-long virtual bootcamp with more than 200 founders from 105 selected startups from May 4-9, 2021. From 105 startups, the top 30 will be selected to go forward in the final round. From the final group of 30 startups, the jury will select 5 startups who will receive seed funding of BDT 800,000 with the option of an additional BDT 1,500,000 as scale-up funding. The start-ups will also gain access to a world-class business accelerator program, in-house mentoring and networking support, legal and virtual CFO support, as well as a co-working space in BYLC’s Mohakhali office. These chosen start-ups will also receive rigorous leadership training.
The intensive and interactive bootcamp sessions covered various aspects of developing a start-up idea – from identifying a real problem in society, refining the start-up’s solution for the problem, to making an understanding of the customer persona and demographics of whom to offer the solution. Sessions also enlightened the diverse audience of Bangladesh-based founders on the art of storytelling for business, developing a go-to-market strategy, preparing and presenting accurate financial data and forecasts, the local legal and regulatory infrastructures to navigate, and effective methods for user research and customer feedback. The sessions were supplemented with workshops where founders worked with the facilitators to iterate their business model and develop their pitch decks.
The bootcamp was co-facilitated by BYLC Ventures’ success partner, BetterStories Limited, alongside Shadman Rahman, Senior Product Manager – Exploration Portfolio, Innovation, Digital & Strategy, Grameenphone Limited; Ejaj Ahmad, Founder and President, BYLC; and Barisha Rabbe, Manager, BYLC Ventures.