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Business

Startups thrive in Myanmar as smartphone usage skyrockets

Vast mobile network drives tech innovators to target ordinary consumers

A entrepreneur presents her business plan before investors in Yangon

YANGON -- Myanmar is proving a fertile ground for technology startups, their numbers doubling over the past year, according to Phandeeyar, a private group that provides funding and other assistance to startups.

There are about 150 startups in Myanmar, representing a roughly twofold increase year-on-year, said Phandeeyar CEO Jes Kaliebe Petersen, referring to the group's latest survey. In the past, startups catered mainly to wealthy people, providing services such as automobile and property information. Now, more startups are focusing on ordinary consumers who have smartphones, Petersen said.

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