The two potential startups will join others from Thailand and Malaysia to attend a four-month intensive in dtac accelerate program Bangkok. After the bootcamp, the startups will also receive seed funding (up to $50,000) and one-year office space from Telenor Myanmar and mentorship support from experienced entrepreneurs.
“The idea of Telenor Myanmar is to empower local community. This would contribute to the development of the country’s economy,” said a spokesperson from Telenor Myanmar. The company is looking at offering up to $50,000 seed funding in each start-up.
Companies, groups or teams formed in Myanmar are open to apply for the programme by April 20, 2016.
Apart from mentoring, the bootcamp will have a curriculum from Silicon Valley and will offer an opportunity for startups to pitch their ideas to regional and local VCs.
Telenor Myanmar will take 10 per cent in startups that will receive the funding. “One of the reasons we take 10 per cent ownership is that we will be partners,” according to the programme information.
This will be Telenor Myanmar’s first startup investment initiative in the country, similar to what it runs in Malaysia.
Apart from Telenor Myanmar Accelerate program, the telecom operator is also inviting local entrepreneurs to be distributors and franchisees as well as forming community information centres, Telenor Light House, to improve digital literacy in the country.