Techsauce Media Co. Ltd., Thailand’s leading technology-oriented content provider, predicts 2017 is likely to be the golden year for Thai startups thanks to the growing trend of corporate venture capital (CVC).
The company is also set to organise Techsauce Global Summit 2017, one of the biggest startup and tech conferences in Southeast Asia, with the aim of strengthening the country’s technology ecosystem as well as pushing Thailand forward to become one of ASEAN’S technological hubs.
Chief executive officer and co-founder Oranuch Lerdsuwankij said technology and startups are playing a key role in ways of doing business. Big corporates across the globe in many industries have tremendously changed their business practices by setting up accelerator programmes and venture capital arms to foster strategic investment, making direct investments themselves and investing in funds that support startups.
“The vital factor helping to grow the number of CVCs is that the companies and startups’ respective strengths and weaknesses help to fulfill each other, which creates massive business opportunities,” Ms. Oranuch said.
Giant companies hold expertise in their respective business areas and access to funding, as well as large customer bases, but they have little to no flexibility to create innovation. On the other hand, startups are able to take advantage of their company’s small size to invent solutions to solve problems in those industries, but lack funding support.
In Thailand, companies in several new industries such as the property and energy industries have jumped on the bandwagon to set up their venture capital arms, which is a step forward from what in we previously saw the past few years which was only companies in the telecom and finance industries getting involved. In the first four months of this year, there already have been 6 companies launching their venture capital arms. According to Ms. Oranuch, she expects there will continue to be a number of venture capital firms introduced by big corporates throughout the rest of the year.
Thailand’s venture capital value has risen to $261.28 million since 2012. In late 2016 alone, Thai startups raised funds worth more than $86.02 million.
Ms. Oranuch added that the company will organize Techsauce Global Summit 2017 on July 28-29 at Bangkok’s Centara Grand Convention Centre at Central World. The venue is able to support more than 6,000 participants, doubling the amount of conference participants from last year.
Techsauce is also hosting roadshows across more than 10 countries in the region. The conference hopes to expand and fortify Thailand’s technology ecosystem, bringing big corporates and startups to connect with foreign investors and technology experts around the world, including those from the US, China and Japan.
Previously, Thailand was a production hub for many industries, but it still lacks value-added services that would make it more attractive to investors such as bringing in digital technology support. However, at this critical juncture there have been signs of substantial backing from the private and public sectors to provide funding to develop innovative products that serve market needs and champion further growth.
“Techsauce Global Summit 2017 intends to resolve what Thailand lacks, including know-how and business networks. Famous startup founders, investors and accelerators around the globe will join the event. We hope that the conference will create an international platform for the Thai startup ecosystem, enabling Thailand to literally become an investment hub as well as a technology development base for ASEAN,” Ms. Oranuch said.
Highlights from Techsauce Summit 2016
More than 250 key speakers from around the world ranging from CEOs and investors to technology specialists will join the event to share their knowledge, experiences and thinking methods. For instance, Dave McClure of 500 Startups, Vitaly M. Golomb from HP Tech Ventures, Mike Peng from IDEO Tokyo, Kei Shimada -the Global Director of Innovation and Business Development from Dentsu Inc., Japan, Hiroshi Saijo from Yamaha Motor Ventures & Laboratory Silicon Valley, Fintech expert Roy Teo from the Monetary Authority of Singapore and Alvin Ng from GE Capital.
Co-founder Amarit Charoenphan said 8 stages will be provided at the Summit, focusing on global trends, what happens in Asia across industries and how to deal with these trends. The broad content of the Summit will also cover digital manufacturing, UrbanTech, FinTech, InsurTech, EnergyTech, EdTech, Automotive, FoodTech, BioTech, how to run startups and more than 100 other topics. Additionally, not to be missed are the cutting edge innovations like Blockchain, Artificial Intelligence (AI), Machine Learning, IoT and Biometrics which will be showcased through tangible, hands-on illustrations that make them simple to understand.
“The main concepts of all 8 stages and more than 100 featured seminar topics will derive from upcoming technology trends. Participants will receive up-to-date know-how on a variety of topics; they can select from keynotes which suit their needs for generating their own business innovation and startup growth,” said Amarit.
The event is also supported by Thailand’s giant corporates who are paying closer attention to technology development and investment through startups, such as AddVentures – Corporate Venture Capital of SCG, Ananda Development, dtac accelerate, Digital Ventures – a subsidiary of Siam Commercial Bank and many more.
Techsauce Global Summit 2017 is suited to companies and entrepreneurs who are looking for technology and innovation, brands in the processes of preparing themselves for digital transformation, as well as startups and those who are interested in technology.
For further information and ticket reservations, please browse to https://summit.techsauce.co.