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KBank touts the success of its Thai startup enabler program

30/11/2022 3 min read

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KASIKORNBANK has touted the success of its KATALYST STARTUP LAUNCHPAD 2022 program to equip participants with a ‘Recipe for Success’ for world-class startups. During an eight-week intensive course, a total of eight teams were shortlisted to pitch their ideas in the competition to win cash prizes and solutions to accelerate business growth, which are worth more than 800,000 Baht.

In the final round, “Project EV” won the 1^st prize for its business plan on comprehensive solutions for the conversion of internal combustion engine (ICE) for commercial trucks to electric vehicles (EVs) for businesses, plus charging station installation service at product distribution centers. As Thai startups have showcased innovative ideas which focus more on sustainability in line with the prevailing business trend, KBank plans to continue supporting Thai startups with more projects to come.

Mr. Thanapong Na Ranong, Managing Director, Beacon Venture Capital Co., Ltd, (Beacon VC), said that the KATALYST STARTUP LAUNCHPAD 2022 program has been conceived from KBank’s commitment to the development of Thai startups to ensure their solid growth. Focus has been on equipping them with knowledge and numerous techniques so that they have a better understanding of real-world business practices, especially through training courses imparted by experts. The activity aims to enable participants to create their own business infrastructure and apply knowledge gained in a tangible manner. KBank has organized this activity for the third consecutive year. In 2022, more than 250 startups signed up for the project, 65 of which passed the selection criteria to participate in the training. They come from a diverse range of businesses, covering all needs in the market, and have the capabilities to strengthen the ecosystem.

Throughout the eight-week intensive training, participating startups attended a program which is part of the Stanford Thailand Research Consortium’s research projects, led by Associate Professor Charles (Chuck) Eesley of Stanford University. In this session, they were equipped with knowledge on the startup business that places emphasis on sustainable growth. The final eight startups, with outstanding performance, were selected to present to a panel of judges their diverse range of unique ideas, such as educational, health and agricultural technologies, electric vehicle engineering, advanced hydro technology, and carbon credit solutions. Many of the participating startups presented interesting ideas that meet the business sector’s needs in the transition to a green society.

Regarding the contest results, the winning team is “Project EV” for its comprehensive solutions of the conversion of an internal combustion engine (ICE) car to an electric vehicle (EV) for logistics business clients. The second runner-up is HealthTAG for its idea of blockchain-based medical data management service that could lead to the seamless exchange, linkage, and integration of patient-centric health data. The third runner-up was the LEET CARBON Team, which developed a solution designed for managing, tracking, and monitoring carbon credit projects by using geospatial data and nature-based solutions efficiently and transparently. All three winning teams received prize money and the solutions for accelerating their business growth. The combined value of prizes under the project topped 800,000 Baht. Additionally, participants who meet all the program criteria will receive a certificate from KATALYST by KBank and a statement of participation from Stanford Online for completing the online learning program. This also provides a great opportunity for business network expansion with several leading domestic and international companies.

Mr. Thanapong added, “KBank will continue to organize activities to promote the startup community in various forms such as seminars for knowledge and experience sharing, projects for business collaboration with KBank, advisory service and solutions to enhance startup capability and efficiency in operating their business for long-term sustainable growth.”