Training and funding opportunities for Myanmar trade to promote innovation

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.

Sponsored Post