DHAKA: Grameenphone Accelerator has started to receive applications for the 3rd batch of the program.
The GP Accelerator program has been designed to help local tech startups build and grow their businesses fast and robustly.
SD ASIA continues as the operating partner of the program for the second year, says a press release issued on Wednesday (February 8).
Ambitious tech startups with MVPs can apply through www.grameenphoneaccelerator.com/apply until March 4, the release added.
The program only accepts tech startups that have a Minimum Viable Product (MVP).
Interested startups need to have a minimum of two co-founders who must be committed to the program full time in order to take advantage of the program offering.
The GP Accelerator program supports early-stage, homegrown tech startups of Bangladesh. Previous startups are solving some of the biggest challenges of the time, such as CMED which is tackling preventable death from silent killers like diabetes and blood pressure.
Some are building on new found opportunities, such as Socian which is offering brands a way to decipher the conversation consumers are having on social media.
GP Accelerator has already completed two batches, with nine startups graduating from the program. On average the startups have been able to increase the value of their startup 3.7 times in less than six months from the Demo Day.
GP Accelerator Graduates include Sheba, a platform that connects informal service providers with users.
Speaking about the value proposition of GP Accelerator, CEO of Sheba.xyz, Adnan Imtiaz said: “GP Accelerator has saved two years of our time to go to market and made us confident to face the unknown future”.
Another graduate CramStack, the private Google search engine for enterprises, is democratizing business analytics. Founder of Cramstack, Mir Sakib, explained the benefits of the program that, “GP Accelerator is the only platform in this country where you can really take your startups from zero to an operational state.”
“The program helps young entrepreneurs to understand how a company/startup must run. We are thankful to GPAccelerator and the SD ASIA team for what we are today,” he added.
These startups are provided with an intensive, rapid and immersive mentoring, coaching and training over the four-month period in addition to Tk 11-lakh in seed funding each, as well as work space in GPHouse.
A number of investor exposures, relevant industry contacts and professional help on things such as term sheet, valuation or financial modeling are offered to speed up the path to market for the startups.
This fixed-term, cohort-based program allows the ventures to build a robust business model, become investable and scale up. As part of Telenor Group, it is possible for Grameenphone to not just nurture startups in Bangladesh but also help them expand to new markets beyond the border.
Speaking about the program, Head of Grameenphone Accelerator, Minhaz Anwar said: “The value of GP Accelerator is not just in the seed money it provides to founders at a time when very few people believe in them but also in what GP offers by going beyond the usual accelerator promises.”
“GP Accelerator offers startups a set of most coveted assets right at the time when they need it most: access to markets, contacts and opportunities. Each new batch we are building is setting new standards for the ecosystem in terms of the startup capabilities, the value proposition for their customers and the investment or scale potential.”
Mustafizur R Khan, CEO of SD ASIA said, “We are looking for early stage companies who have some traction in terms of revenue, or users. During the four months of the program we like to help the teams with growth marketing and sales focus so that these teams are in a strong position to ask for growth capital on demo day”.
Interested founders can attend several information sessions that are being arranged during the month of February to explain the program and offer some insights on what to expect.
Details about these engagement events will be available on its facebook page: https://www.facebook.com/gpaccelerator/ and via its website: www.grameenphoneaccelerator.com.
BDST: 2200 HRS, FEB 08, 2017