No, it does not cost anything to apply to BYLC Ventures. If you are selected to participate in the residential bootcamp, a fully non-refundable security deposit of BDT 5,000 for each team will be required to secure your place.
BYLC Ventures will absorb most of the costs associated with the accelerator program. However, there will be a fee of BDT 200,000 to cover costs of company formation, legal fees for company secretarial support, leadership coaching, and a virtual CFO. This amount will be deducted from the BDT 800,000 awarded to the winning startups.
We believe that social impact and profitability are not necessarily mutually exclusive. BYLC Ventures is looking for early stage entrepreneurs who have creative ways of addressing socio-economic challenges through business acumen.
Yes, BYLC Ventures will take a flat 8% equity in your company at a post-money valuation of BDT 10,000,000 (one crore). The amount is non-negotiable regardless of prior valuation of any funds raised.
Selected startups will get seed funding of BDT 800,000 with option of BDT 2,000,000 additional scale-up funding, fully furnished co-working space for up to one year in Dhaka, access to a six-month-long rigorous leadership and business accelerator curriculum, connection to mentors and networks, full legal support, and a virtual CFO.
We receive and process applications from all over Bangladesh. Regardless of their base of operations, the founders of the winning teams will have to attend the six-month long accelerator program at BYLC premises at 28 Mokhakhali C/A, Dhaka. The co-working space is also located at the same venue.
Yes. We believe that great founders are needed to build great companies. BYLC Ventures’ playbook is designed keeping the founders in mind. Our accelerator program is designed for those who will make the critical business decisions that will eventually help the business become more investable.
We need at least one co-founder to be present in each session. Our curriculum is customized based on the learning needs of each cohort. Therefore, missing out on the sessions will mean that the essential teaching of the program has not been imparted to the person running the business.
We are a sector-agnostic, early stage accelerator program. However, we will give preference to businesses that have shown some traction in the market.
The 2nd Cohort of BYLC Ventures will begin from March 1, 2020 where the most promising business ideas will be chosen from a large number of applications. Through rigorous assessments, 50-100 of the most promising ideas will be selected to attend the Youth Entrepreneurship Bootcamp in June 2020. Up to 15 companies will be able to secure a place in our accelerator program beginning in July 2020.