how to become an ict entrepreneur

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> > > > > > > > How to become an ICT Entrepreneur M Rashidul Hasan, Joint Secretary General, BASIS, [email protected]

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Page 1: How to become an ict entrepreneur

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How to become an ICT Entrepreneur

M Rashidul Hasan, Joint Secretary General, BASIS, [email protected]

Page 2: How to become an ict entrepreneur

• An entrepreneur is a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business.

• Differ from many small-business owners in their strong desire to make their business grow.

• Differ from managers through their overriding responsibility to use the resources of the organization to accomplish their goals.

• Willing to take risks.

What is Entrepreneurship?

Page 3: How to become an ict entrepreneur

• There are 800+ software companies in Bangladesh

• Export of software is US $56.57 million in fiscal year 2011-12

• The growth rate of software export is 54 % in fiscal year 2011-12

• No. of IT professionals working within the IT Industry : 20,000 +

• No. of IT professionals working outside IT Industry (including business enterprises, govt. telecom, NGOs etc.): 35,000 +

• Yearly no. of graduates from IT related subjects: 5,500+

ICT Entrepreneurship

as a Career

Page 4: How to become an ict entrepreneur

Entrepreneurial Characteristics

• Vision - entrepreneurs begin with an overall idea for how to make their business idea a success

• High Energy Level - a willingness to work hard

• Need to Achieve - entrepreneurs work hard because they want to excel

• Self-Confidence - fearlessness in the face of difficult odds

• Tolerance for Failure - entrepreneurs are not easily discouraged

• Creativity - entrepreneurs devise innovative ways to overcome difficult problems and situations

• Tolerance for Ambiguity - entrepreneurs take in stride uncertainties.

• Internal Locus of Control - entrepreneurs believe they can control their own fate

Page 5: How to become an ict entrepreneur

Successful ICT Entrepreneurs

HasinFounder,

Leevio

EmranCo-Founder, Right Brain

Solution

TanveerFounder, ITIW

OmiEx-Developer

Evangelist, Microsoft

JahidFounder, Dwetech

Civil Engineer, RUET

BBA, BRAC University

BBA, IBA Social Science, NU

HSC, FISC

Page 6: How to become an ict entrepreneur

What to do?

• Service or Project Oriented – work for others, outsourcing

• Product Oriented – develop and market your own product

• Software As A Service (SaaS) – develop a product and provide service

• ITES/BPO – IT Enable Services

Page 7: How to become an ict entrepreneur

How To Start?

• Need an Excellent Idea – youtube, pageflex, instagram, bdjobs

• Start from Experience – service, freelancing, piloting

• From Successful Career- achieve experience from successful career

Page 8: How to become an ict entrepreneur

What You need?

• Idea/Client – need a partner

• A team– need marketing and development team

• An Office – a full furnished office with required logistics

• Finance – need working capital

Abbreviations:OM=Operational Management PM=Project Management R&D=Research & DevelopmentBA=Business AdministrationQAT=Quality Assurance Team

Page 9: How to become an ict entrepreneur

Starting a new

venture• Need a Project Plan (Template)• Select a company name• Set up an office• Hire some software developers, programmers & administrative

staffs• Apply for a trade license to City Corporation• Apply for a Tax Identification Number (TIN) Certificate to NBR• If this a ‘Limited Company’ need to be incorporated to the

Register of Joint Stock Companies and Firms (www.roc.gov.bd) to get Memorandum & Articles of Associations

• Apply BASIS Membership (www.basis.org.bd)

Page 10: How to become an ict entrepreneur

Finding Financing

• Debt Financing– Credit Cards– Family and Friends– Bank Loans (SBA backed)

• Equity Financing– Venture Capitalists– Angel Investors

Page 11: How to become an ict entrepreneur

How to Manage?

• Project Management – MS Project, Net Office, Springloops, CreativePro Office, Jumpchart, Basecamp, JIRA, activeCollab, Zimbra, Google

• Client Management – easy CRM, Sugar CRM

• Accounts Management – need an accountant

• Market Plan – need updated market plan

• Financial Forecast– (Template)

• A nice webpage – with having SEO (http://www.accenture.com)

• Corporate Identity – business card, letter head, envelop, etc.

Page 12: How to become an ict entrepreneur

• The vision of ‘Digital Bangladesh’ of Govt. • Govt. Exempted corporate tax up to June 2013• Govt. is leasing land in Hi-Tech park, Software Technology

Park, Incubator in BDBL Building for ICT entrepreneur• The EEF (Equity Entrepreneurship Fund) by Bangladesh

Bank (http://www.bangladesh-bank.org/aboutus/dept/dept_details.php?dept_id=33)

• Almost 6000+ CSE graduates come from the institutes every year, which is a positive point for entrepreneur to hire human resources

Government Support for New

Ventures

Page 13: How to become an ict entrepreneur

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Thank You

M Rashidul Hasan, Managing Director, Systech Digital Limited, [email protected]