GP Accelerator Batch 3 startups begin their journey | The Daily Star
12:00 AM, March 31, 2017 / LAST MODIFIED: 09:56 AM, April 02, 2017

GP Accelerator Batch 3 startups begin their journey

Grameenphone Accelerator (GPA) has unveiled the newest batch of startups beginning their four-month long acceleration journey on March 29 at GPHouse. After a rigorous process of screening over 600 applications, face-to-face interviews and pitch presentations, six startups were introduced to the startup ecosystem and the attendees of the media launch today.

Finance Minister Abul Maal Abdul Muhith was present as the chief guest. Speaking on the occasion, the minister said, “GP has been a good partner of the digitalisation process and the introduction of GP Accelerator will increase the cooperation with the government.”

GPA, in partnership with SD ASIA, has been designed to support early-stage, home-grown tech startups. Five startups are provided with an intensive, rapid, and immersive training over the course of the programme. The startups each receive BDT 11 lakh in seed funding, workspace at GPHouse, and a set of relevant industry contacts to speed up the life cycle of their businesses. This fixed-term, cohort-based programme allows the ventures to build a robust business model, become investable, and scale up. The programme ends with a demo day where startups pitch to a plethora of experienced investors, partners, and key clients.

The third batch application round saw some strong teams and GPA decided to make room for one extra team. However, the sixth team will not receive any funding nor will they have to give up equity.

Welcoming the new batch to GP House, GP CEO Petter-Børre Furberg said, “GPA is here to support the young innovators and entrepreneurs of Bangladesh to make a mark in the digital world. They can be the vehicles of the next phase of development for this country.”

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