From Local Markets to Global Success: Unlocking Opportunities with IP for Bangladeshi Women Entrepreneurs

Masuda always dreamed of independence. Through hard work and determination, she has navigated the leather industry in Bangladesh, starting with a single room and two machines, to overseeing a thriving enterprise with 55 employees and a catalog of 200 designs.

Masuda is among 25 participants from all parts of Bangladesh who recently celebrated the completion of a project with a novel approach in Dhaka. Led by WIPO in collaboration with Bangladesh's Ministry of Industries and Ministry of Foreign Affairs, the project is part of a broader strategy to use intellectual property (IP) and innovation to meet development goals, notably supporting women-led Small and Medium Enterprises (SMEs)—a vital component of the nation’s economic and social fabric.

Bangladesh has emerged as a regional exemplar of progress, transitioning into one of the world's fastest-growing economies. As the country aims to move up from the Least Developed Countries category by 2026, WIPO is committed to furthering Bangladesh’s use of IP as a cornerstone of its development strategy.

Gender equality remains crucial to Bangladesh's sustainable and equitable growth. The World Economic Forum noted a significant advancement, with Bangladesh climbing 12 spots to rank 59th out of 146 countries on the Global Gender Gap Index 2023.

IP plays a crucial role in empowering women entrepreneurs by protecting their innovations and helping them build competitive businesses. It enhances product differentiation, fosters brand loyalty, and attracts customers.

"I only realized the importance of trademarking my products through this training," Masuda explained. "Previously, I struggled with others copying my designs, but now I understand the benefits of protecting my work. This knowledge is crucial as I seek to expand into new markets and secure competitive pricing."

Masuda is currently in the process of selecting a new name to trademark, a decision inspired by her role as the secretary of the Leather Association, which includes about 70 members she has also motivated within her network. "Choosing a strong brand name is now my priority," she stated, highlighting the importance of this step after 15 years in business.

Masuda is eager to explore international markets, especially in Europe, once her trademark and other branding issues are settled. "I'm excited about entering new markets. I believe having a recognized brand name will also enhance my reputation in Bangladesh, particularly if locals see my products overseas."

Despite limited support from her family and the demands of caring for her home and three daughters, Masuda's resilience and determination have been key to her business's growth – and the newfound independence she has always sought.

Over 40 hours of training and mentoring has led to the development of 16 tailored business strategies for the entrepreneurs, providing them with blueprints for further expansion. The project also supported 7 women entrepreneurs to file for trademarks, thus continuing their journey with IP.

Supporting SMEs boosts living standards and promotes financial inclusion, underlining the importance of WIPO's mission to extend IP resources to all.

Background

The Regional and National Development Sector (RNDS) Projects Team, in close collaboration with the Ministry of Industries and Ministry of Foreign Affairs of Bangladesh has developed a project to assist a selected group of women entrepreneurs in understanding, using, and commercializing IP (particularly trademarks) as a tool to support business growth and generate value. The project held a closing event in Dhaka, Bangladesh, on April 24th, 2024.