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Lithan’s TechUP Accelerator programme aims to incubate digital savvy talents to create their tech startup from scratch

Lithan, a Singapore-based private education institution and digital skills accelerator, has recently revealed its plan to accelerate the development of tech startups in Myanmar through its TechUp Accelerator programme, which is currently accepting applications.

According to Leslie Loh, startup investor and founder of Lithan, in a press interview, Lithan’s mission in Myanmar is to develop future-ready digital talents and innovative enterprises to compete in the new economy.

When asked about his take on Myanmar’s current startup ecosystem, Loh said that it’s still in its infancy, but is likely to have the greatest growth potential in Asia. Myanmar was Asia’s least develop telecom market but has since become the world’s 4th fastest growing mobile market. As of June 2015, Myanmar has a mobile penetration rate of 54.6 per cent, up from less than 10 per cent in 2012.

Also Read: How does Asia fare in the global accelerator report 2015? It’s a mixed bag

Myanmar’s startup ecosystem lacks depth today without sufficient startup talents, experienced mentors, tech incubators, angel investors and venture funds. There are limited number of tech startups currently and most focus on low hanging fruits such as digital classified startup, according to Loh.

He revealed that Lithan’s TechUP Accelerator programme aims to incubate digital savvy talents to create their tech startup from scratch – even if they still don’t have any startup idea or team. The TechUP Accelerator is a 6-month full-time programme to empower selected participants with multidisciplinary startup skills, an idea, and a co-founder if they need one.

To start, the programme will assess their startup skills and develop a personalised development plan to plug their skills gap. Participants will be given unlimited access to the programme’s comprehensive suite of on-demand learning and mentoring support to acquire skills in innovative venture creation, digital marketing, product management, sales, and agile management.

Also Read: Introducing Myanmar’s first ever accelerator program

For those who are yet to have ideas, Loh mentioned that participants can select from the programme’s portfolio of startup ideas that they believe have the greatest potential in Myanmar.

These ideas include sharing economy businesses, social commerce, social enterprises, fintech and education technology. To support further development of these startup ideas, the participants will have access to specialist mentors, relevant technology, and potential collaboration partners the programme have curated.

Participants will receive a monthly cash stipend to support their full-time commitment in creating their startup plan, forming their team, developing their MVP (Minimum Viable Product) and seeking initial market validation over the six-month incubation period.

Also Read: Myanmar is changing, and Burmese Hearts makes sure education is the heart of it

At the end of the incubation period, there will be a pitching and judging session to select the Top 5 startups. Each of the Top 5 will receive US$10,000 seed investment and the programme culminates in a trip to Singapore for fundraising and networking Demo day.

According to Loh, what makes the programme different from traditional startup accelerators is that they focus on picking the best talents and empower them with the rest to include skills, ideas, products, network and funding to create their startups from scratch.

Lithan, in partnership with Red Dot Ventures, Singapore’s leading seed stage investment firm, will be bringing on-board their network of investors, startups, mentors, and potential partners from across Southeast Asia to support the programme.

The post Singapore-based Lithan plans to accelerate Myanmar’s development of tech startups appeared first on e27.

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