Dhaka     Tuesday   22 September 2020

GP Accelerator opens application for its 6th Cohort

8 || risingbd.com

Published: 13:56, 14 October 2019   Update: 15:18, 26 July 2020
GP Accelerator opens application for its 6th Cohort

Grameenphone Accelerator calls for applications for the 6th batch of the program.

The program jointly delivered in partnership with Seedstars, invites tech-based startups with a Minimum Viable Product (MVP) to apply until midnight on October 20, 2019.

GP Accelerator is an innovation platform that offers a 4.5-month curriculum-based mentorship driven program with several international and local mentors and experts. The selected startups each receive $5,000 equity free grants, $11,200 worth of Amazon Web Service credit (AWS), Co-working space @ GP House, exposure in local & International Media and many more. Throughout the 4.5-month program, teams get opportunities to learn from local and foreign mentors, industry experts and professionals on critical development elements like term sheet, valuation, financial modeling, branding, etc. On top of that, the platform also helps to connect the startups with potential investors to accelerate their business. The total value of all the support provided to each team is approximately BDT 65,000,000.

The program ends with an Investor Dinner, where startups pitch to a wide group, comprising of experienced local and international investors, partners and key clients. On average, the financial value of companies increases 4-fold in just six months after graduating from the program.

Speaking about the program, Solaiman Alam, Head of Digital Division, Grameenphone Limited said, “In the last 3-4 years, Bangladesh has seen tremendous growth in the ICT sector. Our startup ecosystem is at an accelerating stage. Many educators, industry experts, and also the government are taking initiatives to build the first-time entrepreneurs. GP Accelerators offers startups a set of most coveted assets right at the time when they need it the most: access to markets, connections, and opportunities. If you have a great idea, a good founding team, and the tenacity you must apply for GP Accelerator. I wish all of you who are applying for GP Accelerator all the very best.”

GP Accelerator has already completed five batches with a total of 26 startups attending the program so far. Past batches had thriving startups like Sheba XYX, CMED health, Repto, Aamartaka, Alteryouth, Parkingkoi, etc. GP Accelerator has provided these startups a platform where they learned to build their businesses up quicker than they could have otherwise in the same amount of time. Few of these startups have pitched in and won local and international prestigious competitions like Digital Winners Asia, Seedstars World, Slush GIA, Startup Grind, Bangladesh Startup Awards and National Demo Day.

Several outreach sessions are being arranged for interested startup founders to explain the program and offer some insights on what to expect.