One of EME’s favourite taxi conversations is discussing what startup ideas could work in Myanmar. As investors, we meet with many startups and ecosystem players and have a birds-eye view of what is happening (and not happening) in the startup world. In this post, we’ll be sharing some of the business opportunities we see in the market that we’d love somebody to take a crack at.
In our previous post on the Startup Idea Matrix, we talked about how startups succeed by trying out new strategies in new industries. In Myanmar, there are many tried-and-tested startup strategies from abroad which haven’t been implemented here yet. In particular, we see a lot of opportunity in subscription-based models, which are inherently more sustainable than transaction-based models. Mobile payments players like Wave and OKDollar are beginning to find traction, and startups should capitalize on the emerging opportunity for frictionless digital payments.
As a disclaimer, each of our proposed ideas would require a lot of additional market research, brainstorming, product testing etc, and success is definitely not guaranteed. Yet that’s what makes them worth trying! Without further ado, our top startup ideas are:
EME Myanmar has invested an undisclosed amount in local call center Lan Thit Masterpiece Limited (LML), marking EME’s fourth investment to date.
La Woon Yan (Senior Investment Analyst at EME Myanmar) with Hpauje Kai Hkawng (CEO at LML)
LML offers a range of outsourcing services, including inbound and outbound customer service, sales, data entry and ground marketing. The company started operations in May 2018, and already serves several large multinational clients with significant customer bases.
LML draws on the support and expertise of its founding investors: Masterpiece Group, a large Japanese outsourcing company, and Bagan Innovation Technology, a local tech giant famous for its keyboards and e-book store. The company is based in MICT Park and headed by Hpauje Kai Hkawng, a Myanmar national who ran one of Masterpiece Group’s call centers in Japan for 9 years.
EME’s Investment Director Hitoshi Ikeya commented, “The time is right for a new call center in Myanmar. Companies are spending more on customer support as competition heats up, and consumers want better service. While hiring entry-level staff to handle customer service is cheap, LML offers a robust solution that saves money over the long term through better reporting, reduced overheads and fewer complaints.”
EME will provide LML with sales training, mentorship and introductions as part of its active investment philosophy.
EME’s Q&A with Hpauje Kai Hkawng (CEO of LML)
What kinds of services does LML offer to companies?
LML provides business process outsourcing, focusing on call center services, alongside market research, customer surveys, ground marketing, and social media management.
Why should companies choose to outsource their customer service and sales to LML?
It can be difficult for companies to build good customer service teams in-house, and knowledge is often lost when employees leave the company. By using LML, companies can focus solely on their main business, without worrying about customer service. As a specialist in customer service, LML knows customers' requirements better, listens effectively and can analyze the customer trend based on customers' feedback.
How will EME help LML to grow?
EME will help with general market awareness and economic analysis, so that LML knows which industries to target for potential clients. In addition, EME will help oversee the sales process, providing connections to international business. and potential clients.
What is your vision for LML in the next 5 years?
We aim to be the leading call center in Myanmar, known for our quality guaranteed customer service. We want to fill 200 seats, and provide high living standards for our employees.
How will LML change the customer service / outsourcing landscape in Myanmar?
Currently call centers in Myanmar are mostly one-way; they don’t prioritize listening to customers. LML will put the customer first, making sure that customers always receive friendly and trustworthy service.
About Masterpiece Group
Masterpiece Group, Inc., originally established in Japan, has over 25 years experience in BPO services. Since 2000, they have expanded throughout China and Southeast Asia; totalling 12 operating centers across 7 countries, supporting 10 languages and over 200 clients worldwide. They focus on the development of specialized BPO services in Asia centered on the world’s major languages: English, Chinese and Spanish.