$1.1M investment by Seedstars to build Yangon Innovation Center

With aims to support 50 startups in the next of five years, Switzerland-based Seedstars will establish the Yangon Innovation Center (YIC) and invest $1.1 million to develop the startup ecosystem in Myanmar.

An agreement to develop the center was signed between the Yangon Regional Government and Seedstars on October 5.

Upon winning the bid to operate the centre on a build, operate and transfer system, Seedstars plans to put an initial capital of $250,000 to renovate the location.

Navojit Dastidar