The 5th batch of start-ups has been announced following the four-month long program by Grameenphone Accelerator (GPA) at a launching ceremony.
The event was held on May 6 at GPHouse, Bashundhara.
Batch 5 followed 21 startups that have been supported through the program since its inception in 2015.
Grameenphone CEO Michael Foley welcomed the guests to GPHouse.
Speaking at the event, he said: "There is immense young talent in Bangladesh that just needs a lift to succeed. This program is that lift.”
GPAccelerator received over 1000 applications for Batch 5 in just a span of two weeks.
After a rigorous screening process, 35 teams were called in to participate in a two-day long boot camp, from which 15 startups were selected for further rounds of assessment, face-to-face interviews and pitch presentations.
Finally, after fierce competition, five extremely promising startups were selected as Batch 5 participants in the GPAccelerator program.
Grameenphone Chief Strategy and Transformation Officer, Kazi Mahboob Hossain, expressed his excitement with the progress the accelerator program had made.
He said: “The accelerator program has evolved into the most coveted startup mentorship program in Bangladesh in a very short time. This has been possible because the people who mentor the program and the people who are selected into the program do not lose sight of their goals and what they are here to achieve. This new batch is among the best we have seen so far and I look forward to how high they will each grow after they have graduated from this program.”
GPAccelerator is an innovation platform that offers a 4-month curriculum-based mentorship program with several international and local mentors.
Participants learn critical development elements like term sheet, valuation, financial modeling, branding, and more. The platform also helps connect the startups with potential investors to accelerate their business. The total value of all the support provided to each team is approximately Tk65 lakhs.
The selected startups each receive US $15,000 as seed funding against 8% in equity. Additionally, the startups get around $ 11,200 worth of Amazon Web Service credit (AWS), and office space in GPHouse.
The 5 startups of Batch 5
The five startups selected for Batch 5 of the program pitched their idea from a variety of backgrounds and domains.
“Search English” is an English Language learning platform that helps over 1 million members via Facebook, website, and through webinar to overcome fear and self-consciousness in speaking English.
“cWork Microjob Limited” is a crowd-sourced microjob platform, where employers provide jobs to on-demand contributors so that they can complete the tasks. Currently, cWork is ranked number 7 in Google Play in Bangladesh and has 15,000 monthly users.
“OnuServer” is an app-cloud hybrid solution that converts a mobile phone (android) into a tiny server enabling different types of SMS and call based services. This service empowers enterprises to manage their customer services and promotional works at minimal cost with maximum efficiency.
“Digital Manush” is a lead generator for service providers and helps connect people to regular services. Currently they are the largest lead generator for services in Bangladesh, operating in more than 170 areas in five cities in Bangladesh and one city in India.
“Parkingkoi” is connecting underutilized parking spaces in the city that allows drivers to find safe parking and help home owners with a potentially passive income by enabling them to use their unused parking space.