21 June 2018
A media briefing on the Accelerator cohort 3 by Phandeeyar was made at Phandeeyar office in downtown Yangon on Wednesday.
Phandeeyar Accelerator is a business accelerator for technology startups in Myanmar. Phandeeyar is going to provide 25,000 US$ to the selected potential tech start-ups from Myanmar.
Senior Accelerator Manager
Phandeeyar, Htet Arkar Soe said “Phandeeyar Accelerator is an opportunity for early-stage startups in Myanmar to get the necessary support to grow their businesses to commercial scale. An accelerator is a fixed-term cohort-based program that provides seed capital, office space, mentoring, training and access to follow-on investments for startup entrepreneurs and teams.”
As the accelerator program has started in 2016, Phandeeyar selected 4 tech start-ups in 2016 and 7 start-ups in 2017 and also expected to select 12 tech start-ups for this year Accelerator Cohort 3 program.
Senior Accelerator Manager, Phandeeyar, Htet Arkar Soe said “The most important factor in gaining acceptance to the accelerator program is a strong team. The co-founders must be passionate and possess a high level of skill in their respective field. To join the accelerator program, teams must have a minimum viable product, and exhibit some form of market validation that is feedback from customers that shows that they are excited about, and would potentially use their product or service.”
Phandeeyar takes 12% share from the selected start-ups. Phandeeyar Accelerator invests in the country’s most promising startups by providing services from strategic partners and support from over 40 local and international mentors as well as access to a network of investors.
CEO, RecyGlo, Shwe Yamin Oo said “Some people think like if they tell their ideas, others might take it. Don’t think like that and come and join the accelerator program and take the experience. It definitely helps in promoting the tech start-up businesses. Launching a startup can be difficult, but Phandeeyar’s accelerator program provides startups with the training they need for sustained, long-term growth and funding.”
The detailed information to apply the accelerator program can be found out at www.phandeeyar.accelerator.org. The application deadline is August 9th 2018.