WITH an aim to help Myanmar’s tourism service providers create new and innovative products in order to compete with other destinations, the UK-funded Business Innovation Facility (BIF), with the support of Union of Myanmar Travel Association, recently held a seminar in Yangon offering related training and funding.
Two key activities required to enhance the competitiveness of the sector in Myanmar were announced at the seminar.
The first was a training programme in innovative product development that BIF will offer in May, covering innovative product design, marketing, finance and pricing, conflict sensitivity results management.
The second announcement pertained to a funding opportunity – up to US$450,000 over 2015 and 2016 – through the Package and Product Innovation Competition scheduled for June and July.
Companies can apply for up to US$20,000 to be spent within the tourist seasons, with the maximum award up to half the project cost for a new product that meets BIF’s criteria.
Winners will be expected to continue to offer and expand the product on a commercial basis following the piloting, and to provide sufficient information for BIF to be able to stimulate the market for others to develop innovative products.