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review and amendment of the startup definition in the Finance Bill. This reflects a genuine desire to support startups and sends a positive signal to promising young entrepreneurs and prospective foreign investors in Bangladesh,” said Fahim Ahmed, CEO of Pathao.

“The startup definition in the original bill, if left uncorrected, would have prevented companies that are more than 10 years old or generate over Tk 100 crore in annual turnover from availing themselves of the sandbox benefits, placing them at a disadvantage compared with competitors in their respective industries.

“We have found government stakeholders to be responsive to our concern that this could have resulted in the unintended consequence of penalising startups that have successfully scaled up, created jobs and attracted foreign investment in Bangladesh,” he added.