Myanmar Dealbook: Thai T2P partners City Mart; New tourism accelerators

Thailand’s fintech startup T2P has agreed to partner with Myanmar’s City Mart Holdings. In another development, Myanmar will see the creation of two accelerators dedicated to tourism sector startups.

Thailand’s fintech startup, T2P partners with City Mart in Myanmar

Thailand’s fintech startup T2P, a provider of DeepPocket eWallet, has signed a partnership deal with Myanmar’s City Mart Holdings Co Ltd, a leading local retail chain, e27 reported.

The partnership will have T2P integrate its payment platform, loyalty, e-gift platforms and e-wallets among its fintech offerings.

In 2016, T2P raised $1.1 million from global venture capital firms like 500 Startups, Thai micro fund, 500 TukTuks and Benchachinda Holdings owned by the founding family of mobile operator, DTAC.

Two new accelerators for tourism startups

Tourism startups in the Mekong Region can access two new accelerator programs under the Mekong Innovative Startup Tourism (MIST) backed by the Asian Development Bank and tourism associations.

Organised by Mekong Tourism Coordination Office and the Mekong Business initiative, the two accelerator programs, MIST Startup accelerator and MIST Market Access Accelerator, are open to tourism startups in Myanmar, Cambodia, Laos and Vietnam.

MIST Startup Accelerator will allow startups in the tourism field engaged in technology or traditional tourism business get enrolled to mini bootcamps. The top business plan producer will be awarded a grant of $10,000 while the three runner-ups will get $7,000.

“The MIST accelerator programmes will give a leg up to tourism investments that create jobs, help local communities, and support entrepreneurship, especially for women,” said Dominic Mellor, senior Asian Development Bank economist and head of the Mekong Business Initiative.

MIST gets regional funding, advisory and technical support from institutions like the ADB and the Australian government. MIST accelerator programme in Myanmar is supported by Myanmar Young Entrepreneurs Association and Helium, a public relations agency.

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