Telecom operator Telenor Myanmar has named two start-ups it has accepted for its first accelerator programme.
MyanZen and GoP are the two tech startup teams who will be joining Total Access Communication Public Company Limited (Dtac)’s boot-camp programme in Bangkok on May 4 together with other qualifying teams from parallel programmes in Thailand and Malaysia. They will also receive a seed funding of up to $50,000 each to power their businesses.
MyanZen is a platform which will enable users to sell anything, anywhere and anytime while GoP is a one-stop platform for facilitating travelers and travel agencies.
The two teams joining the four-month bootcamp in Bangkok will gain experience from workshops with Silicon Valley experts and a mentoring with qualified, successful startup entrepreneurs from the region.
They will have the opportunity to pitch to global and regional venture capitalists and explore commercialisation opportunities with Telenor.
“Telenor Accelerate was introduced in Myanmar to help local startups realise their potential, and grow. Myanmar has a pool of many talented startups, which we believe have a strong future given the right support, the exposure to advance their ideas, and potential commercialization opportunities. We believe the two winning teams will be able to grab the opportunity,” said Ronny-Bakke Naevdal, Chief Strategy Officer at Telenor Myanmar.
Telenor Myanmar’s accelerator programme has over 39 applications from where 10 were shortlisted as finalists and two were selected for the bootcamp.
Telenor Myanmar will take 10 per cent stake in the startups. “One of the reasons we take 10 per cent ownership in your company is so that we’ll be partners,” according to the programme information.
Apart from Telenor Myanmar Accelerate programme, Telenor Myanmar also invites local entrepreneurs to be distributors and franchisees as well as forming Telenor Light House to improve digital literacy in the country.
The startup community in Myanmar is becoming more vibrant with much support seen in the country than a couple of years before. The compound of Myanmar ICT park also has a hub named Kanaung Hub, where the Myanmar Computer Federation looks to support tech startups.