Bangkok Bank, Thammasat to jointly support development of Thai start-ups

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Bangkok Bank, Thammasat to jointly support development of Thai start-ups

By The Nation

 

Bangkok Bank and Thammasat University are together set to provide Thai start-ups with knowledge, experience, networks and funding, the bank’s senior executive vice president Siridej Aungudomsin said on Tuesday.

 

Bangkok Bank has signed a memorandum of understanding with the university to support the business growth and development of start-up companies.

 

The collaboration aims to develop the capabilities and build the potential of business operators to grow sustainably, as start-up businesses play a greater role in the growth of the Thai economy.

 

The two parties will use their expertise to jointly promote and develop the capabilities of Thai start-ups. 

 

Thammasat University is proficient in the academic disciplines required for operating a business, while Bangkok Bank has the experience to help small and medium-sized companies be successful.

 

For example, the bank supported an agricultural start-up to develop tools for overcoming constraints by using a mobile-phone application to test water and air quality, and this gave the operator a high level of precision in calculating risks. 

 

Moreover, the bank can connect with customers in the “Modern Agriculture” project the bank has run for 18 years, and these connections will help agricultural start-ups to advance even more quickly, Siridej said.

 

Bangkok Bank can also provide financial management advice for start-ups with limited capital and help them find appropriate sources of funds, such as loans or venture capital. 

 

The bank’s subsidiary, Bualuang Ventures, can invest in start-ups and provide them with advice and support, he added.

 

Meanwhile, as Thailand’s leading educational institution committed to developing Thai society through strong academic services, especially in business management, science and technology and medical science, Thammasat University aims to be at the centre of the “Start-up District” and an “Entrepreneurial University” by capitalising on its research innovation. 

 

At present, it has more than 100 research projects in its pipeline waiting for sponsorship. Each year more than 50 per cent of the university’s research projects are turned into commercial ventures. 

 

Thammasat plans to create more than 50 innovative technology start-up entrepreneurs, focusing on six business strategies: agriculture and biotechnology; medical technology; robotics; services; digital; and energy and environmental.

 

Source: http://www.nationmultimedia.com/detail/Corporate/30327137

 

-- © Copyright The Nation 2017-9-19

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Start ups in Silicon Valley has hordes of foreigners working there.  The same will doubtfully be true in Thailand.