Prize includes four-month intensive program in Bangkok, with sessions and mentoring from Silicon Valley experts, and other benefits
March 31, 2016, Yangon – Telenor Myanmar Limited (“Telenor”) today launched ‘Telenor Accelerate – a programme designed to strengthen efforts in supporting and developing the Myanmar startup scene. Partnering the company's regional Telenor counterparts, namely dtac in Thailand and Digi in Malaysia, Telenor Accelerate offers Myanmar startups with mentorship, training and support, and up to US$50,000 in seed funding.
In addition, winning startups will also have the opportunity to power-up their businesses through a four month boot-camp, alongside startups from Thailand and Malaysia. While there, participants will be able to gain experience from workshops with Silicon Valley experts and one-on-one mentoring with qualified, successful startup entrepreneurs from the region, opportunities to pitch to global and regional venture capitalists, and potential commercialisation opportunities with Telenor Myanmar and Telenor Group.
Telenor Accelerator accepts applications from tech startups that already have ideas to demonstrate. Anyone who has a minimum viable product, a prototype, some low traction and users, or even any of that in development, is encouraged to apply. The programme builds on dtac’s well-established Accelerate programme, now into its fourth year of operations. Interested participants can submit their proposal on dtac website - also designed for entries coming from Myanmar – before the application deadline on April 20th. Shortlisted teams will be announced on April 25th.
“We have witnessed that Myanmar has many local talents who can make an impact on the startup ecosystem. We want to invite them to participate and compete in the program so that they can make a strong impact on this local market. With their ideas, contribution to the development of the ecosystem, we can together build a strong digital society in Myanmar. We expect to continue this program every year to inspire the society and contribute the industry’s onward growth,” said Joslin E Myrthong, Chief Marketing Officer (CMO) at Telenor Myanmar.
Shortlisted teams will present their ideas to a panel of five reputable judges from the community and Telenor Myanmar on April 27th. The final two teams will be selected to join dtac’s bootcamp program beginning May 4th, together with the teams qualifying from parallel programmes in Thailand and Malaysia. Participation in Bangkok will be funded by Telenor.
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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