Telenor Myanmar to invest $100k in two tech startups

By Juliet Shwe Gaung

April 4, 2016

Telecom operator Telenor Myanmar  will be investing up to $100,000 as seed funding in two potential tech startups in the frontier market through its Accelerate programme.

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.

Also Read: 

Myanmar: MCF look at seed-stage investing in tech startups

Myanmar: Telenor, Yoma to launch mobile financial service Wave Money in 2016

Myanmar Dealbook: Malaysia’s OCK to ink tower pact with Telenor; Shwe Taung Group partners Microsoft

 

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.
APPLY NOW

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.
APPLY NOW