GP launches 5 start-ups with seed money | The Daily Star
12:00 AM, September 07, 2016 / LAST MODIFIED: 12:00 AM, September 07, 2016

GP launches 5 start-ups with seed money

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Grameenphone yesterday launched the second batch of GP Accelerator, a platform to promote local start-ups.

The platform will promote five new companies -- CramStack, BuzzAlly, CMED, Ghuri and Socian -- that were chosen from around 500 applicants.

The companies provide: data analysis tools, travelling solution app, cloud-based medical service and promotional tools for firms.

Each of the five companies will be provided with about Tk 11 lakh as seed money and intensive mentoring for the next several months to establish their business.

In exchange for a minimal equity share, every team is offered a package, including essential resources and qualified mentors with prior experience in various fields to help the ventures cover substantial ground in a short space of time. 

State Minister for Telecom Tarana Halim inaugurated the event at the mobile operator's headquarters in Bashundhara.

“Recently we saw that our young people were manipulated to do the wrong things. At this point we need more initiative like this to engage our youth with productive and innovative works,” she said.

Shahjahan Mahmood, chairman of Bangladesh Telecommunication Regulatory Commission, said the internet is becoming the main stream of Bangladesh.

“So innovation and problem solving solutions are the priority at this moment. The youth of the country are working towards that and it is very inspiring for us,” he added.

“The start-ups at GP Accelerator remind us every day of the skills that drive real success: speed, agility and focus against all the odds,” said Grameenphone Chief Executive Officer Rajeev Sethi.

Grameenphone is committed to putting Bangladesh on the global start-up map firmly and together with the government and the start-up ecosystem, he said.

Head of GP Accelerator Minhaz Anwar said: “We are on a mission to help build the first billion dollar start-up from Bangladesh by 2021 and GP Accelerator can achieve this bold ambitious goal only by working together with a range of partners.” SD Asia is the co-partner of the initiative with Gramenphone.

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