August 23, 2016, Yangon – Two Myanmar startup teams, ‘MyanZen’ and ‘Go P’, last week completed a 4-month bootcamp held in Bangkok as part of the Telenor Accelerate Programme. As the winning teams of Telenor Myanmar’s Accelerate Programme they participated in the bootcamp together with the teams qualifying from parallel programmes in Thailand and Malaysia.
During the bootcamp all the participating teams completed 24 workshops conducted by 27 distinguished speakers from Silicon Valley and around the world. The bootcamp completed on 19 August with a Demo Day where the startups showcased their business ideas to the judges, international investors, and famous startup gurus.
In order for the two Myanmar startup teams to quickly power up their business Telenor will provide pre-seed funding and opportunity to leverage its infrastructure resources based on readiness of their business and commercial viability. ‘MyanZen’ is envisaged as a platform which will enable users to sell anything, anywhere and anytime, while ‘Go P’ is a one-stop platform for facilitating travelers and travel agencies. ‘Go P’ has already made a beta version of its application available to public and ‘MyanZen’ is planning to launch its application soon.
Telenor introduced its first Accelerate programme in Myanmar in April this year to help local startups to realize their potentials and grow. “Through our programme we are providing Myanmar startups with an environment to enhance their innovation and talent so that they can scale up quickly and later compete in regional and global markets. We will continue to provide the right support for strengthening startup ecosystem in Myanmar,” said Tan Sian Tuang, Head of Fixed Services at Telenor Myanmar.
What is a Startup Accelerator?
Startup accelerators, also known as seed accelerators, are support programs for early stage startups - with a series of educational workshops and networking events that usually last three to four months. During the accelerator program, the participating startups usually move into a shared office space together and learn about business operations, execution, finance and so on under experienced mentors and other successful entrepreneurs. At the end of the program, the graduating startups typically participate in a ‘demo day’ where they pitch about their businesses in front of investors and potentially receive seed funding to grow their business.
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