LiVE Platform, developed by LiVE Fin Corp Co., Ltd. under the Stock Exchange of Thailand (SET) group, jointly with alliances in the government and private sectors consisting of Thailand Center of Excellence for Life Sciences (Public Organization) (TCELS), National Innovation Agency (Public Organization) (NIA), and KPMG Thailand, has launched a new initiative called the New S Curve to Capital Market project. The initiative offers a pool of expertise to support entrepreneurs in three target industries: Life Science, High Technology and High Growth, to integrate knowledge into their business operation and development. The target companies also have an opportunity to receive financial support and other benefits to scale for the quality businesses which are ready to enter the capital market, and instrumental to driving the country's growth eventually. SMEs and startups can apply now until April 26, 2024.
LiVE Exchange President and LiVE Fin Corp Managing Director Prapan Charoenprawatt said that SET is determined to enhance the business potential of SMEs and startups via the LiVE Platform, an exclusive platform that can create knowledge and understanding, and grow the business to be well-prepared to further access funding sources in the capital market. Significantly, SET envisions the growth potential of the new economy business which will play an integral role in driving the country's economic mechanism to grow exponentially. This year, SET has targeted businesses in three industry groups: Life Science, a business in pharmaceutical and health products, High Technology, a business that uses technology to develop products and services, and High Growth, a business with high expansion potential. SET has then collaborated with leading organizations and corporations with high expertise in this particular area, consisting of TCELS, NIA and KPMG Thailand, in organizing the New S Curve to Capital Market project, a course designed to prepare readiness of the target companies to enter the capital market.
The New S Curve to Capital Market project aims to develop knowledge and techniques in business operations, management skills and preparedness for growth and fundraising in various forms. The project opens for 60 entrepreneurs to enhance their potential through workshops, group coaching and one-on-one coaching, for the period of 4 months (July-October 2024). In addition, the entrepreneurs will also have the opportunity to receive funding up to THB 1 million (approx. USD 27,457) each from the Capital Market Development Fund (CMDF), as well as financial support and other benefits from other partners. The selected entrepreneurs (to join the project) must comply with the conditions set by the project, such as at least 80 percent attendance in training courses, or participating in activities and events as required to be eligible for such funding. The terms and conditions shall be as specified in the project contract.
NIA Director Krithpaka Boonfueng said that NIA’s key role is to promote and develop the potential of entrepreneurs to commercially launch innovative products and access to funding sources. This collaboration with SET is an essential gateway to equip entrepreneurs in the science, research, and technology sectors, considered as the new economy for the countries equipped with knowledge and capabilities to develop strong business models. Principally, entrepreneurs need to gear up the operating system and create innovation and technology to be well-prepared for the fundraising process so as to grow the business with quality, and further expand and contribute to the Thai economy and society.
TCELS Deputy CEO Paiyada Hanchaisuksakul said that the Life Science industry plays a very important role in improving the quality of human life. It is an innovation-driven industry that has an impact on the global economy. TCELS is therefore responsible for this endeavor at national level to support, drive, and advance innovation, technology, and services in the Life Sciences industry. Moreover, TCELS also focuses on developing and strengthening the ecosystem that facilitates innovation to be used both commercially and socially with speed. This collaboration with SET to promote the potential of business entrepreneurs in the New Economy industry of the country will enable entrepreneurs to be more competitive with efficiency and strength, as well as gaining financial support, which are all key success factors for business growth in a sustainable manner.
KPMG in Thailand, Myanmar and Laos Chief Executive Officer Charoen Phosamritlert said that KPMG stands ready for this project implementation, equipped with a team of experts to provide advice on strategic planning in order to strengthen the potential in business planning and competition, as well as helping prepare readiness in various areas for entrepreneurs. KPMG prioritizes strategic and tactical planning covering corporate strategy, operational strategy, financial strategy, personnel strategy inclusive of preparing a business plan. The participants will receive guidelines for creating business growth as well as the step forward to becoming a listed company on the stock exchange and creating economic value for Thailand in the future.
Entrepreneurs interested in studying further details and applying for the New S Curve to Capital Market project, please visit: https://www.live-platforms.com/th/newscurve2024/.
