What are startups’ challenges in Myanmar?

Mobile Monday Yangon

here are many startups in Myanmar today. Some are running in tech industry. There are also many mobile startups in Myanmar. Do you know what the challenges of startups in Myanmar are? As far as I asked many startups, they gave me the following answers. Startups are facing some challenges such as

  • Quality human capital
  • Investment
  • Wider market
  • Customers

 

Quality human capital

There are not too much geeks in Myanmar. Some youths finished their degree under the tile of computer science, Information technology and business IT, but only some of them are listed in quality human capital. Many of them changed their career or do nothing with IT. Some are interesting but they are not cool enough to work in mobile startups. There are also many experts Myanmar who got experience from global tech companies. But local mobile startups cannot fulfill their desire of salary. To get quality human capital is still a challenge for mobile startups.

 

Investment

Another biggest challenge is investment. Local tech startups always need investment. Some got investment from global angels. But many are not lucky enough to meet global investor. Myanmar still need business and tech angels start investing in Myanmar startup fields. Someone from investment side also said that it is also difficult to get good presentation from Myanmar startup. The biggest problem is language skill. Many startups are not having good language skill enough to deal with global investors.

 

Wider market

At the current time, the market of tech and mobile is only at Yangon. Yangon has 6 million population and very few amount of business are asking for technical supports and products. However mobile startups’ customers are everyone because all use mobile phones. But the market is still very small by comparing with global market.

 

Customers

When talking about, ut is not about population at all. It is about how much customer are educated enough to use tech products. In Myanmar, let’s say that you make a mobile shopping software. But how could you survive if users are not familiar with the applications and not changing their behavior of shopping. Tech revolution in Myanmar started from mobile sector which is not same with other countries where it started from computers, not mobile phones. Now it is a big challenge which is to teach people to use technical products in very wise way.

 

There are still many other challenges and problems which local startups are facing. Are you also starting a mobile business? What kind of problems and challenge are you facing and how did you passed all? If you are one of them who passed some challenges or who need answers and idea, we invite you to join our next MobileMonday. Stay tuned!