NU Journal of Humanities, Social Sciences & Business Studies Vol. 1, No. 1, December 2014 Entrepreneurship Development in Bangladesh S. M. Mujahidul Islam 1 Fatema Akter 2 Abstract: Developing countries are confronted with serious unemployment and underemployment problems. This problem is particularly crucial among the educated youths of these countries. One of the major reasons for this situation is that the education system is not designed in a way to motivate the graduates to take business profession as an alternative source of employment. Moreover the support services towards this end are not adequate. Entrepreneurship education which aims at creating awareness and motivating the graduates to take business as profession has not been widely included in the various level of education system. Training is particularly important for developing skills. As a result the graduates rush to the opportunities for salaried jobs, the market of which is already saturated. The main objectives of the study will be to review the existing education and training system. While preparing the paper the existing education system will be critically evaluated as well as the experience of scholars working on entrepreneurship education and problems in different counties. The typical home for entrepreneurship programs has been in schools of business. Undergraduates and graduate students studying business have had increasing opportunities to study topics related to the entrepreneurial career track (as opposed to the corporate track). The entrepreneurship education they gain while in college will enable them to be flexible and agile in the workplace. What is it about entrepreneurship education in particular that helps students become leaders, innovators and creative problem- solvers? This paper aims to provide an entrepreneurship education and training framework using MIRACLE Approach. Keywords: Entrepreneurship; Entrepreneurship Education; Bangladesh; Miracle Approach Introduction Entrepreneurship is a key factor in the economic development process of a country. Its role is particularly important for industrialization of an economy. Study of economic development history of developed countries shows that present status of their development lies in the active role of the entrepreneurs. The role of entrepreneurs in perceiving business opportunities, bringing together inputs of production to produce the desired product/service, taking risk, decision making, technology transfer and adaptation, overcoming obstacles, response to change and transforming innovative activities into reality is indeed great. Entrepreneurship and self employed are often misunderstood. A self employed is a person who earn his livelihood by selling his serves, on the other hand 1 S.M. Mujahidul Islam, Assistant Professor, Department of Marketing, National University, Gazipur, Bangladesh 2 Fatema Akter, Lecturer, Department of Finance & Banking, New Model Degree College, Dhaka