I am attended to the panel of the startup challenge in Myanmar talk show in the morning as the communicast exhibiton 2015 held in Yangon.
The exhibition is the display and share about their service and products of the IT and communication sector even satellite technology.
So we are discussion about so many thing of barrier in Myanmar startup company. We are expect to the market should be rise and grow sooner, also we meet too much competition future. Following paragraph is the scope note of our panel.
credits by Ko Ei Maung (Fairway Web)
1.) Local investors don't understand or interest in growth and they only invest for sensible profit.
2.) Without proper business model and exit strategy from startup side, investors will not understand nor interest.
3.) Exit strategies are lacking, for example, there is no stock market.
4.) Proper business models are lacking, for example, how a product gonna go global if we can't accept payment from other countries?
5.) Without proper investment, there is no choice for local startups, but to make money from services.
6.) It's wrong for startup to focus more on revenues than innovation. They may survive as a business but will not make a ground breaking success with that.
7.) Ridiculously high rent and weak (if not lacking) infrastructure are not helping.
To fix the situation, we need:
1.) Government to pay more attention on startups and treat them as the future of country. Make business registration easier, provide basic infrastructure, tax exemption, etc...
2.) Government should support for proper VC firms and incubation institutions.
3.) Patent laws should be finalize as soon as possible.
4.) Finical industry should resolve the oversea payment problems as soon as possible.
Thank to MCF, MCPA and MCIA also SIDC for invitation.