Myanmar: Lithan Technopreneur Accelerator to invest $3m in start-ups

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Singapore headquartered Lithan, is investing up to $3 million for the incubation of 100 start-ups in three years.

Lithan University College, a subsidiary of Lithan will be setting up the Lithan Technopreneur Accelerator programme in Yangon where aspiring entrepreneurs can apply.

Litan’s planning to help out by providing training, forming a team, mentorship, financial support and investor funding. Applications will go live by mid of May until the end of June 2016 and will be free of charge.

“We would like to kickstart and accelerate the development of Myanmar’s tech startup ecosystem with our ‘Lithan Technopreneur Accelerator’ programme. We will invest up to $3 million worth of training, allowances, facilities and seed funding to nurture 400 aspiring tech talents for the incubation of 100 startups over a three year period.” said Leslie Loh, CEO of Lithan.

Loh will be the chief mentor and judge of the programme, which has an investment portfolio of around 30 tech start-ups across Asia.

Lithan Technopreneur Accelerator programme is to take nine months, having three stages. The initial batch will accept 40 candidates with 10 teams to progress to stage two. Five start-ups will receive an investor funding to support their go to market validation in stage three. There is also a possibility that there is a follow-up investment by Singapore Angels and and other networks.

Qualifying start-up founders will be paid a stipend of $300 post the second stage (three months into the programme), by the time they will be working further on a business idea.

Lithan will take up to 15 pc of equity by the end of the cohort in the qualifying start-ups, said Sneha Kataria, lead, Lithan TechUp Accelerator.

“Lithan will also pre-seed the start-ups at the end of the cohort up to $25,000 per start-up,” said Kataria to DEALSTREETASIA.

Lithan will provide sponsored trip to Singapore to connect with the Singapore startup ecosystem for investor fund-raising and market outreach, stated in the release of Lithan.

“Coders and mobile developers are welcomed,” said Kataria.

In Myanmar, Lithan University College is located in Kamayut township and offer courses like Sales mastery, project management professional and Diploma in business information systems.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.