TDS Desk:

Startup Bangladesh Limited has announced on Tuesday that it has canceled an investment proposal of Tk 5 crore for 10 Minute School.

“An investment proposal of Tk 5 crore for 10 Minute School has been canceled by Startup Bangladesh,” Startup Bangladesh Limited said in a Facebook post today on its verified account.

State Minister for ICT Zunaid Ahmed Palak, on his official Facebook profile, shared Startup Bangladesh Limited’s post with the same information in the caption.

The reason for the cancellation of the investment proposal is not yet known, as 10 Minute School and Startup Bangladesh Limited have not provided any statement regarding this issue.

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

Ayman Sadiq, co-founder and CEO of 10 Minute School, endorsed the ongoing movement by supporting the protesters’ demand for reform of the quota.

“Two days earlier, on his verified Facebook page with nearly 7 million followers, Sadiq posted: ‘We want quota reform. Merit should be the biggest quota,’ hashtagging #QuotaMovement.”

The post went viral, generating over 2 lakh likes, 38,000 comments, and nearly 6 thousand shares.