Grameenphone today received the second batch of GP Accelerator in the presence of Begum Tarana Halim, MP, State Minister for Ministry of Posts, Telecommunication & ICT.
The GP Accelerator program, in partnership with SD Asia, has been designed to support early-stage, homegrown tech startups. These startups are provided with an intensive, rapid and immersive training over the four-month program. The startups are provided with Tk11 lakh in seed funding each, work space in GP House, and a weighty set of industry contacts to speed up the life cycle of their businesses. This fixed-term, cohort-based program allows ventures to build a robust business model, become investable and scale them up.
Speaking on the occasion the State Minister said, “we have a large number of young people with great potential. So I have an advise for them, dream big and dream positive. Government will provide you with all necessary facilities.
ShahjahanMahmood, who was also present as special guest said, “Out of 50 thousands startup ideas about 90% of them are from youth. So we have to guide the youths and support them accordingly. ”
Welcoming the new batch to GP House, Grameenphone CEO Rajeev Sethi said: “The startups at GP Accelerator remind us every day of the skills that drive real success: speed, agility and focus against all the odds. Grameenphone is committed to put Bangladesh on the global startup map firmly and together with the Government and the startup ecosystem.”
Minhaz Anwar, the head of GP Accelerator, said: “We are on a mission to help build the first billion dollar startup from Bangladesh by 2021 and GP Accelerator can achieve this bold ambitious goal only by working together with a range of partners.”
The top five startups of the second batch had to go through a rigorous, multi–staged process to acquire the sought after GP Accelerator spots. The selectors had a tough job to review over 500 submitted applications before selecting the final five.
Among those present were senior members the GP, SD Asia and members from the start-up and investor communities. The GP Accelerator program, in addition to essential resources, provides qualified mentors with prior experience in various fields to help the ventures get a lot done in short period of time. In exchange for a minimal equity share, every team joining is offered a package, including seed funding. The program, lasting for about four months, ends with a grand event, a demo day, where startups pitch to a plethora of experienced investors, partners and key clients.