On October the 26th through SeedstarsDhaka, iFarmer won the Bangladesh round of Seedstars World 2019 and will represent the nation at the Seedstars Summit in Switzerland to compete for up to USD 500,000 in equity investment and other prizes
Seedstars World, the largest seed-stage startup contest for emerging markets and fast-growing startup scenes, brought its Bangladesh round to a successful close through Seedstars Dhaka. The event took place at Grameenphone House, and 8 selected startups were asked to present their companies in front of the local jury panel.
The local winner, iFarmer, use data and technology to finance farming activities and also connects farmers to the businesses and retailers for market access was named “Best Startup in Bangladesh” for its innovative sustainable solution. “Seedstars has been a great platform for iFarmer. We pitched at Seedstars Dhaka in 2018 and got awarded as the Startup with the Most Social Impact. But beyond that what we got was a lot of good feedback from the Seedstars team, mentors and judges. That gave us the confidence to continue our work, grow the business and go back to pitch at Seedstars Dhaka in 2019, to show that we have taken their feedback seriously and have continued to develop the business.”, explains Fahad Ifaz, Co-Founder and CEO at iFarmer.
As a part of the prize, iFarmer will be participating at the Seedstars Summit, which takes place in Switzerland, in April 2020. It is a week-long training program, with the opportunity to meet the 65+ winners from other fast-growing economies, as well as investors and mentors from around the world. The final day of the Summit is dedicated to pitching in front of an audience of more than 1000 attendees, with the possibility of winning up to USD 500,000 in equity investment and other prizes.
The 8 startups pitched in front of a prestigious jury, including Tanvir Sourev, Tina Jabeen, Nirjhor Rahman, Zahedul Amin, Maroof Wali UI, Eftakharul Alam Bhuiya, Allen Selima and Martin Courtinat.
Romoni Services Limited with its 360-degree business-enabling platform connecting female customers to beauty and lifestyle service entrepreneurs came second and Let’s Furnish with its only furniture subscription platform of Bangladesh providing affordable furnishing solutions. The other startups invited to pitch were Best price, Biyog Pvt. Ltd., Shopway, Trovasys Limited, Insuremama,
After this stop at Bangladesh, Fariha Bajawhri, Associate for Asia at Seedstars, says “We have had high-quality startups in the last few years in Bangladesh and this year certainly didn’t disappoint as well! I was impressed by the innovative ideas focusing on making an impact in the community. I look forward to coming back next to find more promising startups.”
Continuing on its world tour of fast-growing startup scenes in emerging markets, Seedstars World’s next stop is Kuala Lumpur at ODC Creative Hub, to select the best startup in Malaysia. Seedstars World is looking for smart startups that solve regional issues and/or develop profitable products for the global market.