“Financing Virtual Migration – Freelancing Incubation in North Bangladesh” is an innovative initiative aimed at promoting virtual migration and fostering entrepreneurship in the context of freelancing in northern Bangladesh. The program recognizes the potential of freelancing as a means of economic empowerment and seeks to provide aspiring freelancers with the necessary resources and support to succeed in the digital marketplace.
The program focuses on financing virtual migration, which refers to the transition from traditional employment to freelancing and remote work. By providing financial assistance, such as seed funding, microloans, or grants, the program enables individuals in northern Bangladesh to invest in their freelancing careers. This support can be utilized for acquiring the necessary equipment, accessing training and skill development programs, and establishing a professional online presence.
Moreover, the program offers a freelancing incubation platform, providing mentorship, coaching, and guidance to freelancers during their entrepreneurial journey. Experienced professionals and industry experts help freelancers develop their skills, enhance their marketability, and navigate the challenges of the freelancing industry. The incubation process fosters creativity, collaboration, and networking among freelancers, creating a supportive ecosystem for their growth and success.
The program’s focus on freelancing in north Bangladesh is significant as it aims to address the socio-economic challenges faced by rural communities in the region. By promoting virtual migration and freelancing as viable career options, the program offers an alternative to traditional employment and contributes to poverty alleviation, empowerment of marginalized groups, and economic development in the area.
Through “Financing Virtual Migration – Freelancing Incubation in North Bangladesh,” individuals in the region can harness their skills, talents, and creativity to access global employment opportunities and generate sustainable income. The program nurtures a culture of entrepreneurship, self-reliance, and innovation, empowering freelancers to overcome geographical barriers and contribute to the digital economy.
Overall, the initiative represents a transformative approach to financing and incubating virtual migration in the freelancing sector. By providing financial resources, mentorship, and networking opportunities, the program opens doors to economic opportunities and empowers individuals in northern Bangladesh to thrive in the digital marketplace.
Funding authority – Private Enterprise Development in Low-Income Countries (PEDL)
Project Partner – Sarah Institute Of E-Generation
Project Duration – 12 Months.
Project Period – March 2021 – February 2022
The northern region of Bangladesh is not well-connected with the large, urban labor markets of the capital city and has the lowest participation rate in the labor market.
Bringing employment growth and entrepreneurship creation to this area is a top priority for MOMODa FOUNDATION, especially for females, who have few job opportunities, particularly in rural areas, given patriarchal social norms, purdah restrictions, and family obligations that hinder active labor force participation.
MOMODa FOUNDATION and researchers from Oxford, Florida International University, and IFPRI are currently trailing an online freelancing platform that can enable many rural youths, especially women, to enter into online-based micro-entrepreneurship – the freedom to work from home and access global clients to earn a competitive wage.
Sarah Institution of E-Generation, a local implementing partner, is executing this project.