The Blue Gold Innovation Challenge (BGIC) launched its activities at a Ceremony this December 18, 2016 at 6.00pm. It was held at Moar, Banani 11, Dhaka Bangladesh. The Launching Ceremony was attended by representatives from NGOs, Entrepreneurial Funds and Entrepreneurs from all over Bangladesh.
BGIC is being organized by YY Goshti, a social business incubation hub powered by SBYA Global in collaboration with Blue Gold Program with financial contribution from the Netherlands Government. It is looking for innovative business solutions which address water supply management, agriculture and sustainable development of south west region of Bangladesh (Patuakhali and Khulna). It is a year-long program which will help 20 would be entrepreneurs launch their own social businesses with training, mentorship and access to resources. The rewards for the top innovations include partnership and BDT 25,00,000- 50,00,000 funding opportunity from the Blue Gold Program.
The south west of Bangladesh is a remote region where agriculture is the main source of income and farmers are dependent on water. Accelerating the development inside the target demographics requires new innovative approaches focused on the empowerment of communities, the management of water resources, improvement of agriculture practices and the creation of business opportunities. Innovators, students, startups and organizations can apply with business ideas which will be implemented to improve the lives of the people in the target areas. Thus BGIC is starting its operations in Patuakhali on December 30-31, 2016.
The event was a chance for those in the development sector to come together and talk about some of the pressing issues in agriculture and water resource management that can be solved through innovative business solutions. Among chief guests was Ms. Lamiya Morshed, Executive Director of Yunus Centre, who shared her thoughts about social business and how the development sector can achieve social impact through more sustainable models. Mr. Boudewijn Sterk, Manager of Innovation Fund, Blue Gold Program and the partner of YY Goshti in this program, was also present. He expressed anticipation in working in the agricultural and water resource management sector, paving the way for collaboration in the development sector that has not been done before. He was excited to see what new things can be achieved through this endeavour. Finally, Shazeeb M. Khairul Islam, Founder of SBYA Global, shared that the YY Goshti team is looking forward to work with aspiring entrepreneurs while builidng some innovative businesses that can access funds from the Blue Gold Program, using their expertise in incubating next generation businesses.The YY Goshti team is excited to start working with interested entrepreneurs. Applications can be lodged at bgic.yygoshti.com