The winners will join dtac’s bootcamp program beginning May 4th in Bangkok.
They will also receive a seed funding of up to US$50,000 to power-up their businesses.
April 27, 2016, Yangon – Telenor Myanmar Limited (“Telenor”) today announced ‘MyanZen’ and ‘GoP’ as the winning teams of its first Telenor Accelerate programme. The winners will join dtac’s bootcamp program beginning May 4th in Bangkok, together with the teams qualifying from parallel programmes in Thailand and Malaysia.
‘MyanZen’ is envisaged as 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.
Telenor’s Accelerate programme received 39 applications, of which 10 were shortlisted as finalists. The shortlisted teams presented their business ideas to a panel of five judges, which included reputable founders of IT-based businesses in Myanmar, and Telenor experts. The panel will continue to mentor the two winning teams in the next phases of the programme.
At the upcoming four-month bootcamp, the two winning teams will gain experience from workshops with Silicon Valley experts and one-on-one mentoring with qualified, successful startup entrepreneurs from the region, will receive opportunities to pitch to global and regional venture capitalists, and will potentially explore commercialisation opportunities with Telenor. They will also receive a seed funding of up to US$50,000 to power-up their businesses.
“Telenor Accelerate was introduced in Myanmar to help local startups realize their potentials, 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 commercialisation opportunities. We believe the two winning teams will be able to grab the opportunity,” said Ronny-Bakke Naevdal, Chief Strategy Officer 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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