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GP Accelerator Promises Bangladesh’s First Billion Dollar Company

Intellect Report
 GP Accelerator Promises Bangladesh’s First Billion Dollar Company

Grameenphone received the second batch of GP Accelerator in the presence of, State Minister for Ministry of Posts, Telecommunication & ICT Tarana Halim On Tuesday.

The GP Accelerator program is partnership between Grameenphone and SD Asia. And it main purpose was to help local tech startups. Now these startups will be provided with the following:
1.    A four-month training program,
2.    11 lac Taka of seed funding,
3.    Work space in GP House,
4.    A solid set of industry contacts to speed up their business life cycle.

This fixed-term, cohort-based program will allow the ventures to build a robust business model.
 “We have a large number of young people with great potential. So I have an advice for them, Dream Big and Dream positive. Government will provide you with all necessary facilities.” said the State Minister on the occasion.   
Shahjahan Mahmood, chairman of Bangladesh Telecommunication Regulatory Commission said, “Out of 50 thousands startup ideas about 90% of them are from youth. So we have to guide the youths and support them accordingly.  ”
Welcoming the new batch to GP House, Grameenphone CEO Rajeev Sethi said: “The startups at GP Accelerator remind us every day of the skills that drive real success: speed, agility and focus against all the odds. Grameenphone is committed to put Bangladesh on the global startup map firmly and together with the Government and the startup ecosystem.”
Minhaz Anwar, the Head of GP Accelerator, said: “We are on a mission to help build the first billion dollar startup from Bangladesh by 2021 and GP Accelerator can achieve this bold ambitious goal only by working together with a range of partners.”
The top five startups of the second batch had to go through a rigorous process to get a spot at GP Accelerator. On the other side- the selectors had to review over 500 applicants before selecting the final five.
Among those present were senior members the GP, SD Asia and members from the start-up and investor communities. The GP Accelerator program, in addition to essential resources, provides qualified mentors with prior experience in various fields to help the ventures get a lot done in short period of time. In exchange for a minimal equity share, every team joining is offered a package, including seed funding. The program, lasting for about four months, ends with a grand event, a demo day, where startups pitch to a plethora of experienced investors, partners and key clients.

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