“How will GPAccelerator program help the startups? What is the process of providing the seed funding? What will be the process of equity share among the co-founders?”
Young entrepreneurs came with many such questions to the ‘GPAccelerator Info Session’ held yesterday at the co- working space in Banani called Moar.
Entrepreneurs were overly excited to know about the program so that they can apply with their own startup. All the queries regarding the application process for the GPAccelerator program were answered.
The info session was conducted by Mustafizur Rahman Khan, CEO & Founder of SD; Fayaz Taher, Co-founder of SD Asia; and other team members of GPAccelerator.
Reza-Ul-Kabir, founder and CEO of Jolpi, attended the program with so many queries about the accelerator program. He said most of his questions were answered in the session.
Quite a few people asked if they can take part in the program from idea stage. Another query from the audience was if they can participate being a single CEO and founder of the startup. To answer their question, GPAccelerator team informed that participating startups must have a Minimum Viable Product (MVP) and the teams must have at least two co-founders.
It’s also possible to participate in the program with a new product under an established organization. The info session talked about the process of providing the seed fund in two steps. Teams will get the first half of the funding in the beginning of the four-months program during the contract signing. The second step of funding will be provided to the successful graduates after the demo day.
Young entrepreneur Namira Hossain, who is the co-founder of a startup called Cookups, attended this interactive session. She said, “I attended the session to know more about the GPAccelertor program. I want to take part in the program with my own startup in this batch.”
For those who still don’t know about the GP Accelerator program, this program is designed to help the early stage startups. This 4-months accelerator program will provide the top 5 startups with free working space at GP House along with seed funding of bdt 10 lakh+ each. 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.
Any tech startup with an MVP can apply in the GPAccelerator program through this link- www.grameenphoneaccelerator.com/apply
Two more info sessions will be held on 22nd and 26th of this month. Look out for the registration on the Facebook page- https://www.facebook.com/gpaccelerator/ or visit the website http://www.grameenphoneaccelerator.com