Daffodil Int’l University creates TK3 cr EDF

Published : 22 Oct 2020 08:57 PM

Department of Innovation and Entrepreneurship (DIE) of Daffodil International University (DIU) has created Entrepreneurship Development Fund (EDF) of Tk 3 crore to encourage and support students of DIU who aspire to start the business.

The main motive of the fund is to recognize and support entrepreneurial-minded students to start their business from idea generation to commercialization, and this support is for existing students and alumni. So far more than Tk 5 million has been already given to run/accelerate their venture through the Entrepreneurship Development Fund (EDF). The fund is given as a loan of seed-fund but absolutely interest-free for different maturity. After maturity, the user of the fund will repay the principal amount only.

 In this regard, Professor Dr. M. Lutfar Rahman, Vice-Chancellor of DIU said, the university has decided to provide more than BDT 3 crore from Entrepreneurship Development Fund (EDF) without any interest to develop/run/ accelerate businesses of our Existing students and Alumni. He added, during, and post COVID situation, this fund will be a great opportunity for our students and Alumni. Besides, it will encourage them to start a business after this pandemic situation.

 Professor Dr Mohammed Masum Iqbal, Dean of Faculty of Business & Entrepreneurship added that Department has been providing Entrepreneurship Development Fund (EDF) to the students since 2018. Now, we have decided to expand our initiatives as post-COVID situation will bring a lot of new business opportunities for the existing and new entrepreneurs.  We are providing facilities and support to our alumni and students through own eco-system so that they can make their business sustainable and thereby can become successful entrepreneurs.