Ooredoo Myanmar has officially launched an incubation programme in a bid to enable the country’s start-ups to kick start their ventures, the firm said.
The IdeaBox programme seeks to identify start-up companies with a business concept that will benefit from Ooredoo’s upcoming 3G network, the Qatari firm said.
IdeaBox will offer four to six month of incubation and acceleration initiative, office space, mentoring and guidance, as well as start-up capital of up to $100,000.
Ross Cormack, CEO of Ooredoo Myanmar, said: “Across our markets, local entrepreneurs are developing innovative ICT programmes and mobile apps, but often do not have the resources to bring these to market or scale their solutions.”
He said the program will provide expertise, funding and exposure to develop entrepreneurialism at the grassroots level.
“We aim to support local businesses via these flagship developments, and to provide inspiring role models of success to encourage human growth through innovation, with the potential to impact millions of lives across our markets.”
The telecom firm said the programme recognises that time and focus is often a barrier to start-up success and will enable young Myanmar entrepreneurs to focus 100 percent of their time and energy on their new ventures.
IdeaBox aims to incubate ambitious companies with plans to use technology and increased mobile penetration to build scale quickly and achieve $100 million valuations, it added.
All interested start-ups can apply via www.ideabox.com.mm before June 13, with successful start-ups to be announced on June 27. Ooredoo said.