Grameenphone Accelerator has started inviting applications for the 4th batch of the programme on 24 May. The GPAccelerator program, which runs in partnership with SD ASIA, has been designed to help local tech startups build and grow their businesses rapidly. SD ASIA continues as the operating partner of the program for the second year.
Tech based startups with a Minimum Viable Product (MVP) can apply through www.grameenphoneaccelerator.com/apply until 8 July 2017.
Selected startups receive around BDT 12 lakh in seed funding each, around US$1000 worth of Amazon web services credit (AWS), work space in GPHouse, and a set of relevant industry contacts to speed up the life cycle of their businesses. 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 participating ventures to build a robust business model, become investable and easy for them to scale up. The program ends with a grand event, a Demo Day, where startups pitch to a wide group comprising of experienced investors, partners and key clients.
GPAccelerator has already successfully completed two batches and the 3rd batch is ongoing, with a total of 16 startups having attended the program so far. The past batches had thriving startups like Sheba, CMED, Repto, and Cramstack, etc. GPAccelerator has provided these startups a platform where they learnt to build their businesses up quicker than they could have otherwise in the same amount of time.
Speaking about the program, Head of Transformation, Kazi Mahboob Hassan said that “GPAccelertor is providing much more than the seed money to the startups. It offers startups a set of most coveted assets right at the time when they need it most – access to markets, contacts and opportunities. Startups from previous batches have shown great potential and each batch is setting new standards for the startup ecosystem. We have experienced the coolest idea and have seem them transform into MVPs.”
Mustafizur Rahman Khan, CEO and Founder of SD ASIA, adds that “GPA pioneered the seed accelerator model in Bangladesh and has helped raise hundred of thousands of dollars from local and international investors for the participating startups. So we are looking for dedicated teams who are willing to put in 100% in the program so that we can help them create good valuation of their company by DEMO DAY.”
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. Several information sessions are being arranged for interested startup founders during the month of May and June 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.