10 Minute School: Startup Bangladesh cancels Tk 50m investment proposal

State-sponsored venture capital fund Startup Bangladesh cancelled its Tk 50 million investment proposal for 10 Minute School, one of the leading online Edutec startup in the country.

Startup Bangladesh made the announcement on its verified Facebook page on Tuesday.

“The Tk 50 million investment proposal for 10 Minute School from Startup Bangladesh has been cancelled,” Startup Bangladesh said in the Facebook post.

Startup Bangladesh Limited is the first and only flagship venture capital fund of ICT division sponsored by the Bangladesh government.

State Minister for post, telecommunications, and information technology Zunaid Ahmed Palak also made the announcement in his Facebook page.

When contacted Startup Bangladesh said the company cannot comment on the matter as per the conditions of their agreement.

Ayman Sadiq is the cofounder and CEO of 10 Minute School. Two days ago, he posted on Facebook supporting the ongoing student protests demanding quota reform in government jobs.

He wrote, ‘I want quota reform, let merit be the biggest quota.’

Besides, Ayman also protested against Bangladesh Chhatra League’s attack on protesters on Dhaka University campus on Monday. He wrote, ‘Bloodied Dhaka University! Why bloodshed on my campus? I protest.’

Ayman was called multiple times over phone for a comment on the issue, but did not respond.