Myanmar group offers funds for tech start-ups

The Myanmar Computer Federation (MCF) will provide capital investment for young entrepreneurs who want set up technology-related ventures, said U Min Zayar Hlaing, the federation’s chair.

He said those who want the funding can apply for the Myanmar Youth Technopreneurship Development Programme 2020 from now until January 24, 2020.

All applications will undergo a two-stage selection process.

Prizes in three categories – Technopreneurship 2020 Accelerate, Technopreneurship 2020 Start-up Prize and Technopreneurship 2020 Idea Prize – will be awarded in Mandalay and Yangon on February 24.

“I want youths to join this competition as it is a great opportunity to be an entrepreneur,” U Min Zaya Hlaing said.

Koichi Kasuya, chief operating officer of Myanma Posts and Telecommunications (MPT), which is helping in the project, said the competition is aimed at generating creativity among youths.

“Engaging the entrepreneurial spirit of youths will aid the transformation of Myanmar companies to a digital economy in line with the global trend toward the 4th Industrial Revolution,” he said. The three winning teams will receive six months of free office space at Kanaung Hub Incubation Centre in Yangon.

Training and technology support will be provided for market expansion, penetration and technological upgrade.

Contestants must be Myanmar citizens and at least 18 years old.

Winners of previous competitions included Kayin language learning using AR technology by Blue Frog Co Ltd, a Myanmar e-lottery application by Idea Capsule Co Ltd, and a mobile phone app for affordable healthcare services.

MCF and MPT started the program in 2017.

– Translated

Source: Myanmar Times

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