Started with 5 lakhs, Now pays 8 crores in monthly salary to employees - Bitopia CEO
The founder and Chief Executive Officer (CEO) of Bitopia Group is Engineer Muhammad Monir Hossain. Starting from absolute zero, he has transformed Bitopia Group into one of the fastest-growing technology companies in Bangladesh. Monir Hossain's journey as an entrepreneur actually began in 2013, when he started working alone on international freelancing platforms like oDesk and Elance. At one stage, as the workload increased, he established BDCalling IT.
Initially, the firm worked in sectors such as web design and development, mobile app creation, visual and creative design, data entry, and digital marketing. Currently, under Bitopia Group, new services such as Artificial Intelligence (AI), Cloud, and Data Centers have been added. They also have investments in renewable energy, electrical equipment, supply chain and infrastructure development. Additionally, the group provides full-stack technology services for industry-specific solutions in sectors like fintech, healthcare, energy and infrastructure. Currently, their operations span 78 countries worldwide, including the USA, UK, Canada, Japan, Brazil, and the Philippines. However, approximately 80 to 90 percent of their total work is based in the United States.
Annual Revenue of 200 Crore BDT
Two years ago, in December 2023, Prothom Alo published a report on the activities of BDCalling IT. At that time, the institution had 400 employees, and its monthly income was approximately 2.5 crore (30 crore annually) BDT. In the last two years, the firm's workforce has grown by 900 percent, and its revenue has increased nearly sevenfold.
To date, 45 crore BDT has been invested in Bitopia Group. Out of this, 3 crore BDT consists of bank loans, while 42 crore BDT is the group's own investment. In the last fiscal year, the combined annual revenue of all Bitopia Group entities was 200 crore BDT. The organization pays nearly eight crore BDT in salaries to its employees every month and contributed 25 lakh BDT in revenue to the government in the last fiscal year.
Monir Hossain, CEO of Bitopia Group, said, "Our employees are very sincere, skilled, and creative. This is the main key to our success. I dream for the country and its people—that employment must be created. My employees also uphold and implement that vision."
Working with Artificial Intelligence
Bitopia Group has increased its investment in Artificial Intelligence (AI) and other new technology-driven sectors. As one of the early initiatives in the country, they have started work on establishing an AI-based data center, which will feature high-capacity GPU infrastructure. Consequently, this data center will make it easier to operate AI and machine learning applications.
Alongside investing in the AI sector, Bitopia Group has set a goal for rapid expansion in the global market. They are selling services through local representatives in the USA, Europe, the Middle East, East Asia, and Africa. Simultaneously, they aim to take the products of other local technology companies to the international market. Monir Hossain mentioned that their institution has built a data center in the country under its own management. As a result, it is possible to provide services to local institutions at a lower cost using their own data center.
Monir Hossain said, "The size of the global freelancing market is 6 to 8 billion US dollars. In contrast, the AI and Cloud market is approaching nearly a trillion dollars. Most local and global institutions are moving towards AI transformation. Consequently, we can significantly increase foreign exchange earnings by selling these services. For this, skilled manpower, necessary technology, data centers, and appropriate hardware components are required. If duty concessions are provided on importing AI-related hardware, including GPUs, the competitive capacity of Bangladeshi firms in the global market will increase."
What are the Challenges?
Monir Hossain believes that the information technology and AI sectors in the country currently face several fundamental challenges. He stated that one of the biggest challenges is the high cost and limited availability of internet bandwidth. Although it is claimed that prices are decreasing in the market, in reality, they remain expensive compared to international standards. Specifically, due to a two-tier licensing structure, costs become double or triple.
Monir Hossain added, "The second challenge in this sector is uninterrupted electricity. If the power goes out even temporarily, our business virtually comes to a standstill. Therefore, it is essential to create a sustainable power supply system and utilize green energy in the long term. The third challenge is the shortage of skilled manpower and high-tech infrastructure. There is also a lack of skilled software engineers and Python developers. Without overcoming these limitations, we cannot be competitive in the global AI and technology market. The fourth challenge is the low branding of the country. Unlike India or the Philippines, Bangladesh has not yet established brand value as a well-known IT or software hub. If Bangladesh's skilled workforce and success stories are promoted in the global market, international clients' confidence will grow."
In the last decade and a half, there has been significant investment and promotion in the freelancing sector in the country. Many freelancers have also emerged at an individual level. However, Monir Hossain believes that freelancing cannot create sustainable long-term jobs. He stated that due to high global competition, freelancers' income does not remain stable. Therefore, our goal should be to build local institutions that will work directly for the international market. This will create permanent employment within the country.
