GP-Accelerator startups begin journey

New batch of Grameenphone-Accelerator startups began their four-month acceleration journey today at the GPHouse.

After a rigorous process of reading through over 600 applications, face-to-face interviews, and pitch presentations, six startups were introduced to the startup ecosystem at a ceremony.

Finance Minister Abul Maal Abdul Muhith was present on the occasion as the chief guest, said a press release.

Muhith said, "Grameenphone has been a good partner of the digitalization process and the introduction of GP Accelerator will increase the cooperation with the government."

GPAccelerator (GPA), in partnership with SD ASIA, has been designed to support early-stage, homegrown tech startups.

Five startups are provided with an intensive, rapid and immersive training over the four-month programme. The startups receive BDT 11 lakh in seed funding each, work space in 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 them up. The programme ends with a grand event, a demo day, where startups pitch to a plethora of experienced investors, partners and key clients.

Third batch application round saw some strong teams and GPAccelerator decided to make room for one additional team. GPA felt that founders can benefit from attending the mentor session and get GPA support to strike some key relationships for their public service solution.

The sixth team will not receive any funding nor will they have to give up equity, however, will receive mentorship and other programme support to improve their business model.

Source: Bangladesh Sangbad Sangstha (BSS)