Burma-based telecommunications network Telenor Myanmar is looking for two domestic startups to take part in a four-month accelerator program, DealStreetAsia wrote on Monday.
The two selected companies will join other startups from Thailand and Malaysia for the DTAC Accelerate Program in Bangkok, Thailand. Both Telenor Myanmar and Thailand-based DTAC are subsidiaries of Norway-based telecoms firm Telenor.
Telenor Myanmar will invest up to $50,000 in seed capital in each startup in return for a 10% stake. Startups will also benefit from office space for a year, mentorship from entrepreneurs and the chance to pitch to local and regional venture capitalists.
The company hopes the initiative, which will constitute its first startup investment in Burrma, will help foster a local ecosystem. The deadline for applications is April 20, 2016.