As the world's 'last frontier', Myanmar's startup ecosystem has been slowly expanding. through the local startup scene has yet to show significant strides, ecosystem builders are putting an effort into the development of Myanmar's startup ecosystem. These programs have been critical in providing a conducive environment for startups to thrive by offering resources, mentorship, networking opportunities, and funding. In this article, we have compiled a list of incubator and accelerator programs in Myanmar, along with a short overview to help you find a suitable program!
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FULL LIST OF STARTUP INCUBATORS AND ACCELERATORS IN MYANMAR
Full list of ideation to launch stage startup incubators in Myanmar:
Stage: Ideation - Launch
Who is it for: Aspiring entrepreneurs with an idea and seeking cofounder / Early startup with a team
Need to have an idea: Yes
Focus: Sector Agnostic
Impact Hub Yangon is a dynamic network of Myanmar entrepreneurs, innovators, and changemakers that is critical in supporting social entrepreneurship and long-term growth in the country. With its collaborative workplace, broad network, and various activities, Impact Hub Yangon provides an excellent platform for individuals and organizations to connect, learn, and make an impact in the local startup scene.
Impact Hub Yangon organizes a variety of activities and projects to meet the needs and interests of its community members. The Impact Hub Fellowship is one of their major initiatives, which offers assistance and coaching to local entrepreneurs with creative ideas that address significant social and environmental concerns. Fellows can gain access to resources, a network of experts, and training opportunities to help them establish and scale their initiatives. Furthermore, Impact Hub Yangon also hosts workshops, seminars, and networking events on a regular basis to encourage cooperation and information exchange among its members.
Stage: Launch
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Sector Agnostic
SanThit Accelerator is Myanmar's first gender-inclusive accelerator program, aiming to encourage the growth and success of the country's entrepreneurs. As the first of its kind in the country, the accelerator focuses on developing and supporting founders to establish businesses that make a good impact in society. This non-profit organization was founded as a collaboration between Emerging Markets Entrepreneurs - Myanmar and Village Capital, which provides startup founders with a comprehensive set of support and resources.
The SanThit Accelerator program offers its participants a variety of critical services. These include diagnostic evaluations to identify areas for development, online learning modules to increase entrepreneurial abilities, and an entrepreneurship curriculum that is well-designed. Furthermore, founders have access to customized consultations and expert support from qualified consultants. Financial assistance is also available to assist entrepreneurs in overcoming financial obstacles and accelerating their growth.
Stage: Launch
Who is it for: Aspiring entrepreneurs with an idea and seeking cofounder
Need to have an idea: Yes
Focus: Sector Agnostic
One to Watch is an investment firm that has expanded its operations to Myanmar, bringing its experience and focus on long-term growth to this frontier market. With a a track record of success in Nepal, the firm aspires to promote and develop entrepreneurs in Myanmar to achieve positive impact in the country. Their Myanmar program is structured similarly to their Nepal activities, with an emphasis on investing in small and medium-sized businesses that meet fundamental necessities such as food, infrastructure, and healthcare.
One to Watch discovers and carefully selects high-potential enterprises in Myanmar and them with the required financial and mentorship assistance. They offer tailored business development assistance to entrepreneurs which will assist startups to map out and rethink their business model, as well as develop strategic development plans to address major gaps in becoming investment ready. Businesses will receive assistance from local and international mentors, as well as access to a larger network of entrepreneurs, instructors, and pertinent business courses.
Stage: Launch
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Sector Agnostic
Founded in 2009, Founder Institute is a global network of startup accelerators with locations in over 200 cities worldwide, including Myanmar. It is a highly sought-after entrepreneurship program that offers entrepreneurs a structured curriculum, professional coaching, and important networking opportunities to help them speed their company growth.
Lasting four months, the Founder Institute program is thorough and comprehensive, as participants will go through a series of intensive training sessions and seminars covering many elements of startup development. The program provides participants with the knowledge, skills, and mentality necessary to manage the hurdles of entrepreneurship and establish scalable and sustainable firms. The curriculum also highlights the value of networking by linking participants with experienced mentors, successful entrepreneurs, and investors who may provide crucial advice and assistance.
Stage: Launch
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Tourism
The Mekong Innovations in Sustainable tourist (MIST) program in Myanmar is a dynamic project aiming at boosting sustainability and resilience in the Greater Mekong Subregion while stimulating the growth of the local tourist sector. The program seeks new initiatives and projects that contribute to the improvement of travel and tourism sustainability.
MIST is continuously seeking solutions that not only promote sustainability but also improve customer experiences, security, and transportation planning, as well as decrease negative environmental impact. The program equips participants with the tools and information they need to integrate sustainable concepts into their tourist operations through a series of seminars, training sessions, and field trips.
Closing Thoughts on Startup Incubators and Accelerators in Myanmar
There are certainly a lot of opportunities in Myanmar for expansion. However, for the startup ecosystem to flourish, entrepreneurs, talent, funding, and regulatory support need to be strengthened in the country. These accelerator and incubator programs remain crucial for the development of startups in Myanmar. Overall, Myanmar's startup ecosystem holds some promise for entrepreneurs seeking to tap into Southeast Asia's next growth market.