Myanmar’s first ever startup accelerator, Phandeeyar Accelerator, has announced the names of the four startups graduating from its 6-month programme, on a demo day held in the capital city of Yangon.
The four startups presented their products before a panel of judges, comprising Genevieve Heng, Co-founder and Director at Anthem Asia; Stephen King, Partner at Omidyar Network; John Kaaiohelo, Special Advisor at Telenor Digital Business; Dr. Martin Nanda, Founder & President at SDI Myanmar; and Mike Than Thun Win, CEO & Founder, BOD TECH.
Over 200 guests from across the industry attended the event. The list included 70 global VC investors and mentors, including Singapore-based Red Dot Ventures, Thailand-based Digital Ventures, and impact investor Omidyar Network.
In his welcome address, David Madden, Founder and CEO of Phandeeyar, said: “Now that Myanmar is connected, there is a big opportunity to use technology to accelerate the development of the country. There is a new generation of talented young entrepreneurs who are building the technology businesses that will enable Myanmar’s digital leapfrog. International and local investors recognise this opportunity and that’s why they’ve gathered here today.”
Here is sneak-peek at the four graduates:
Chate Sat: It is an online marketplace for freelancers. Chate Sat allows freelancers to find work, organisations and businesses to contract freelance work. Since joining Phandeeyar, more than 2,700 freelancers and 500 companies have used the platform.
Chate Sat was adjudged the best startup. The founders of the startup will be visiting Singapore next month to meet investors and key stakeholders.
GoP: It is an online travel booking platform that helps Myanmarese to find, compare, and book tour packages. Since joining Phandeeyar, hundreds of customers have booked tours from their more than 50 partners.
White Merak: It is Myanmar’s first ever comic reader app, which features animated comics created by White Marek’s in-house team, as well as well-known local cartoonists. Since joining Phandeeyar, the comic reader grew from zero to more than 10,000 registered users, many of who are paying to read their animated comic books.
EZStay: It is a travel booking website for mid-range hotels and guest-houses in Myanmar. Since joining Phandeeyar, there has been more than 400 listings online and more than 200 people have booked trips on the platform.
Jes Kaliebe Petersen, Accelerator Director, Phandeeyar, added: “These are four of Myanmar’s most promising tech startups. Together, they show how powerful the accelerator approach can be. With financial support and six months of intensive coaching and mentoring these startups have rapidly developed their businesses. They have all but built their product and shown that there’s demand for it in the market. We hope that investors will get behind these startups and give them the financing that they need to take their companies to the next level.”
The four startups are now in the midst of raising their next round of funding of US$80,000 to US$200,000.
The event also witnessed the launch of ECHELONx Myanmar 2017, a collaboration between e27 and Phandeeyar. The event will be held later this year. Stay tuned for official news on this, as well as the latter’s recruitment for their batch #2 of startups starting this June.
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