In a surprising turn of events, Startup Bangladesh Limited, the pioneering venture capital fund established and supported by the Bangladesh Government's ICT Division, has publicly withdrawn its previously announced investment of Tk 5 crore in 10 Minute School.

This edtech platform, recognized as the largest in Bangladesh, was slated to receive the significant financial boost to further its educational initiatives.

The announcement, made through a formal post on Startup Bangladesh Limited's official Facebook page, stated simply, "An investment proposal of Tk 5 crore for 10 Minute School has been canceled by Startup Bangladesh."

This abrupt cancellation has raised numerous questions regarding the reasons behind the decision, as the collaboration seemed promising for both parties.

As the first and only flagship venture capital fund of its kind in the country, Startup Bangladesh Limited's actions are often viewed as indicative of wider government support and strategic direction within the technology sector.

The withdrawal of their investment in 10 Minute School has therefore generated considerable interest and speculation within the tech and educational communities of Bangladesh.

The motive behind Startup Bangladesh Limited's unexpected withdrawal of their Tk 5 crore investment in 10 Minute School remains unclear.

Adding to the intrigue, State Minister for ICT, Zunaid Ahmed Palak, shared Startup Bangladesh Limited's announcement on his personal Facebook profile, furthering the speculation surrounding the decision.

The timing of this development coincides with a nationwide movement advocating for reform of the government job quota system.

Interestingly, Ayman Sadiq, co-founder and CEO of 10 Minute School, had previously voiced his support for the protesters' demands, potentially adding another layer of complexity to the situation.

Two days prior, Ayman Sadiq leveraged his verified Facebook page, boasting nearly 7 million followers, to express his support for the ongoing quota reform movement.

His post, "We want quota reform. Merit should be the biggest quota," accompanied by the hashtag #QuotaMovement, resonated widely, garnering over 200,000 likes, 38,000 comments, and nearly 6,000 shares.

In response to the violent clashes between Chhatra League activists and quota protesters at Dhaka University, which resulted in hundreds of injuries, Sadiq, an alumnus of the university, voiced his dismay with the post: "Dhaka University is bloodied. Why is there blood on my campus? I protest."

The 10 Minute School also demonstrated their solidarity with the movement by changing their verified Facebook profile picture to black following the incident.

—-