GRAMEENPHONE INITIATES GP ACCELERATOR PROGRAM
Dhaka-Oct. 27 (NsNewsWire) — Grameenphone Ltd., in partnership with SD Asia, announced today the launch of GP Accelerator program, a development platform for ICT startups in Bangladesh.
This was announced at a press conference at the Krisibid Institute in the city’s Farmgate after the formal signing of a partnership agreement between Grameenphone and SD Asia, an organization that is working to create market access for digital entrepreneurs in Bangladesh.
The GP Accelerator is a platform for digital start-ups to find a foothold in the ICT Industry and explore their ideas freely. GP and SD Asia will select the aspiring startups, mentor them and provide seed money to accelerate their businesses. The tech startups should be centered on digital and mobile communication platforms with a view to provide real life solutions.
Speaking on the occasion, Erlend Prestgard said, ”Grameenphone’s vision is to empower digital entrepreneurs, and through the GP Accelerator program we are aiming to empower local digital entrepreneurs. As a thought leader in the ICT industry, we are eager to use our expertise to support interested startups to come up with new digital services that can bring positive changes for the general people.”
Under the terms of the agreement, there will be two four-month sessions, with the first one starting in February 2016. The second session will start in August 2016. Five projects will be selected to participate in each session. At the end of each session, participants will be given the opportunity to present to prospective investors at a Demo Day.
All selected accelerator candidates will receive more than BDT 10 lakh as seed money and will have the privilege of working out of the Grameenphone head office with full access to necessary logistic support. Each startup will be mentored and guided by local and international resources.
SD Asia’s co-founder, Samad Miraly, said, “As ecosystem-builders, we learned firsthand what entrepreneurs need to succeed. That is why we are powering the GP Accelerator—to attract the best and the brightest and to provide substantive tools to build. The founder-friendly accelerator will help startups navigate the rocky roads of entrepreneurship and accelerate toward success. The GP Accelerator is an important step in developing the country’s startup ecosystem.”
Grameenphone will have the option to take limited equity in each startup and will be working closely with the startups to guide them in the development of new products and services alongside SD Asia.
Grameenphone has been working with different organizations to encourage the local developers and entrepreneurs to come up with innovative digital services under its “Internet for All” ambition. GP Accelerator is one such initiative that aims to empower local startups to deliver cutting edge services for the ICT industry.
Erlend Prestgard, Chief Strategy Officer, Faisal Kabir, Project Director, GP Accelerator, of Grameenphone, Mustafiz Khan, CEO & Founder and M Fayaz Taher Co-Founder and Samad Miraly Co-Founder of SD Asia were present on the occasion.