SCB 10X has teamed up with leading regional Venture Capital firms Monk’s Hill Ventures, Golden Gate Ventures, and Insignia Ventures Partners to launch the “SCB 10X We Are In This Together” campaign. Under this campaign, Thai startups from all sectors are invited to apply. Winners will be chosen based on “how your business can grow into a large successful company.” Top 10 qualified teams will be required to present their business proposals to a panel of renowned international Venture Capitalists in an on-line pitch format.
This event provides an outstanding opportunity for Thai startups to receive first-hand recommendations on strategy and feedback on business models from prominent investors. The campaign will select two winning teams to receive awards worth more than 15 million baht in total.
Those interested in joining the challenge can apply at https://forms.gle/supviD16ZSFQmfgr5
From 30 April to 22 May 2020.
Discussing the campaign, SCB 10X Co., Ltd. Chief Venture and Investment Officer Mrs. Mukaya Panich remarked, “The ongoing COVID-19 pandemic has impacted every segment of our society, and startups are no exception. SCB 10X truly recognizes the tough times faced by Thai startups, particularly those seeking funding to survive in the current challenging environment”.
SCB 10X focuses its investments on supporting the growth of outstanding Venture Capital firms and startups globally. It has partnered up with top Venture Capital firms Monk’s Hill Ventures, Golden Gate Ventures, and Insignia Ventures Partners to play a part in assisting Thai startups to turn the COVID-19 crisis into opportunity through this “SCB 10X We Are In This Together” campaign.
Qualified teams will have the opportunity to present their business ideas to a panel of judges composed of distinguished Venture Capitalists, including Dr. Kuo-Yi Lim, Co-founder & Managing Partner of Monk’s Hill Ventures; Mr. Jeffrey Paine, Founding Managing Partner of Golden Gate Ventures; and Mr. Yinglan Tan, Founding Managing Partner of Insignia Ventures Partners.
This unique opportunity will enable Thai startups to receive valuable advice from top regional investors who are widely recognized in startup circles. Startups can leverage the recommendations and feedback received to prepare their businesses to thrive in the post-pandemic era. The two winning teams will receive rewards and investment from SCB 10X in the form of convertible notes worth five million baht. They will also receive up to 3MB (~$100K USD) in Amazon Web Services credits through AWS Activate, a program that provides startups with technical training and support to help them succeed. In addition, they will gain access to a co-working space at True Digital Park free of charge for six months worth nine hundred thousand baht. The prizes are worth more than 15 million baht in total.
We sincerely hope that this campaign will help alleviate the burdens that Thai startups are suffering from, by offering them valuable funding so they can continue operating amid the downturn.”