Bangkok--30 Mar--Ogilvy Public Relations
Digital Ventures, the financial technology investment arm of the Siam Commercial Bank (SCB), hosted DVAb1 Demo Day, under the theme UNFOLD Local CONNECT Global, bringing 10 final startups from its second-year Digital Ventures Accelerator (DVA) program to showcase their innovation to SCB's management, a panel of judges comprising local and international venture capitalists. Each team will receive an offer of Baht 1 million fund at a minimum, and three teams that are deemed by the panel of judges and investors to have the most outstanding potential for business growth will be entitled for additional offer of investment fund.
Orapong Thien-Ngern, Chairman of the Executive Committee, Digital Ventures said that "DVAb1 Demo Day is organized with aim to be a driving force for Thai startups with high caliber to strengthen their business fundamentals for future growth and build up a network that connects them to Siam Commercial Bank's corporate customers in various industry sectors, resulting in creation of new value-added business services and solutions. Apart from support in business knowledge and skill development during the past six months of the accelerator program, DV has offered a total investment offer of over Baht 22 million to the ten startup teams."
Charle Charoenphan, Head of Accelerator, Digital Ventures, added that "The ten startups teams in the program come from many different businesses. Many teams focus on emerging deep techs that are making huge impact to people's life today and in the near future, like 3D printing, biotech and Big Data. Some teams demonstrated their shrewdness in identifying problem or opportunity gap and create business solution to fill it. We are greatly delighted to see the progress each team has made in the past six months. This year our selection is even more diversified, and not limited to fintech, in order to bring benefits to SCB's corporate customers in different sectors, in order to promote a robust startup ecosystem in which these ten young companies can truly 'grow and scale' their business."
The panel of judges in DVAb1 Demo Day comprises:
- Monthida McCoole, Investment Partner of CoCoon Capital, with extensive experience in investing in both in Seed and Series A stages.
- Carman Chan, Founder and Managing Partner of Click Ventures, a serial technology entrepreneur, published author and technology columnist
- Pita Limcharoenrat, Executive Director of Grab Thailand, Managing Director/ Co-Founder of CEO Agrifood Co., Ltd., the third largest rice bran oil producer in ASEAN
- Jeffrey Paine, Founding Partner, Golden Gate Ventures, an early stage technology venture capital fund
- Grace Yun Xia, Principle of Jungle Ventures, with extensive experience in investment, corporate strategy and business development across early stage startups and Fortune 500 companies
List of top performing teams who demonstrated their business caliber and growth potential are as follows:
Popular Vote Award: Meticuly – design and production platform of custom-made artificial bones using 3D printing technology, winning 6-month legal advisory valued 400,000 from Baker & McKenzie
Bronze Award: ENERGY RESPONSE – online platform for intelligent energy management in buildings with IoT, Big Data Analytics and Predictive Insights, winning 2.4-million investment offer from Digital Ventures
Silver Award: MyCloudFulfillment – comprehensive inventory and logistic solution provider with online, realtime tracking system, winning 4.8-million investment offer from Digital Ventures
Gold Award: Meticuly – design and production platform of custom-made artificial bones using 3D printing technology, winning 8.0-million investment offer from Digital Ventures
The other 7 startups who showcased their business caliber on DVAb1 Demo Day and received an investment offer of Baht 1 million are:
ChomCHOB – exchange platform that convert credit card point and loyalty points to use as cash
Dootv Media – video streaming service provider offering a comprehensive live streaming service from production, broadcasting to equipment selling and renting
Event Banana – online platform for space and event management with directory of 800 event venues across Thailand
Happenn – one-stop event management solution encompassing registration, app development, business matching and stage design, with service coverage across the ASEAN region
JuiceInnov8 - platform of sugar reduction using biotechnology to reduce sugar in fruit juice for food and beverage industry in Thailand and international markets
Ooca – online psychiatry service on video call with ensured patient privacy and confidentiality
Sellorate - real estate platform that connects agents and agencies to the leading developers with digital reality solution and market analytics
About Digital Ventures
Founded in 2016, Digital Ventures, a subsidiary of Siam Commercial Bank, is a company that promotes innovation in financial technology. Following the bank's strategy to enter digital transformation, Digital Ventures aims to be a part in driving changes in the banking industry through investment, innovation and supporting Thai businesses to grow with SCB. At its inception, Digital Ventures has 50 million USD capital (1,750 million baht) for investment in financial technology.