11 June 19 - Source: Myanmar Times - Phandeeyar Accelerator will hold its Startup Challenge for budding entrepreneurs at its Innovation Lab from June 29 to July 7.
This year the event explores technology in four main areas: "Tech in Cities," "Tech for Women's Safety," "Fintech" and "Tech for Farms". Youths and
The challenge is held annually and aims to develop research and use of technology in Myanmar, said
"Anyone with an interesting idea, including those who don't have a business plan, can join. Each year we will inspire every competitor with our three words of inspiration: 'build', 'measure' and 'learn'," said Ko Tun Khine.
Competitors will be tasked with creating technology for managing waste disposal and resources in the city; for protecting women from assault; solving financial problems
"The idea is to create a business that will help alleviate social an economic problems," said Mr. Joao Dutra.
The nine-day competition was the start of a journey for entrepreneurs. The winners will be given a business strategy from
Winners in each category will be awarded US$2500. The first prize is $1500, and a further US$1000 will be presented to the most promising entrepreneur. Winners were also awarded three months access to an office to help develop their
The Startup Challenge is sponsored by USAID, ADB Ventures, KBZ Pay, Proximity Designs, the Embassy of the Netherlands and LUX.
"At first we were focused on the Smart Yangon project, but we realised that adoption of technology is an issue that people are facing throughout the country," said the Embassy of the Netherlands's senior economic and community officer Ko Ye Wanna Aung.
Talks will given throughout the first eight days of the event, and on the final day teams will give presentations about their entrepreneurial ideas in front of local and international businesspeople. Winners were selected based on these presentations.
"People who have made the effort to participate may see a change in mindset. Parents want their children to become doctors and engineers, but not entrepreneurs. Entrepreneurs are also important for our society," said Mr Joao Dutra.
"Technology can help people feel safe. It can protect people from violence, invasion of privacy through online theft, for example," said Unilever EAC Myanmar Co Ltd Marketing Director
Established in 2016,
"In terms of
The event was an excellent opportunity for young entrepreneurs to not only showcase their