Duangjai Asawachintachit, Secretary General, Board of Investment and Pawish Jaishuen, Deputy Managing Director, Public Sector, Microsoft Thailand
Expand business scale and startup growth through investment funding, technology tools and consulting with M12, Microsoft’s venture capital fund
Bangkok – 30 March 2022 – Microsoft (Thailand) recently participated in the BCG Startup Investment Day event – which was jointly organized by the National Innovation Agency, Thailand (NIA) and the Thailand Board of Investment (BOI) under the concept of “Bio-Circular-Green Economy” – to enhance the capabilities and competitiveness of startups as well as Thailand’s tech industry. In collaboration with partner agencies, the event also provided startups with opportunities to expand their business on both regional and international scales by building a network of alliances before ultimately propelling Thailand’s economy forward on the foundation of sustainable development. This dual-format event was held on 24 March 2022 with both online participation and an on-ground event at the C ASEAN Convention Center, CW Tower, Ratchadaphisek Road, Bangkok.
Shubha B Rajiv, Global Market Development (GMD) for Public Sector – Asia Pacific and Japan, Microsoft Asia, said, “In recent years, both the public and private sectors have promoted a culture of knowledge sharing and developed a knowledge base for startups and entrepreneurs to help drive the Thai economy and society forward. The BCG Startup Investment Day, which was held by NIA and BOI with support from other partner agencies, has proven to be a showcase of each party’s capabilities in social empowerment and inclusion under the shared goal of driving the startup scene. With an eye on working towards the government policy to support startups, Microsoft sought to help startups build and scale their businesses towards making an impact globally, offering qualified startups access to technology, expertise, and resources. With appropriate tools and support, we have complete confidence that these startups can grow and accelerate the region’s progress as a global innovation engine while also driving societal development.”
In addition to a special occasion to discover great ideas from entrepreneurs, Microsoft Thailand’s participation in the event also involved the Microsoft Thailand Founders program for Startups, which helps to accelerate B2B startups at every stage of their journey with greater access to business opportunities across the region, enhanced technological resources, access to startup communities, advice from experts on go-to-market preparations, and more. Also participating in the event was M12 – a corporate venture capital subsidiary of Microsoft as an investor in the potential startups to empower entrepreneurs with capital, customer connections and faster business development for early-stage enterprise to grow steadily and achieve international competitiveness.
Pawish Jaishuen, Deputy Managing Director, Public Sector, Microsoft Thailand “Based on the Thailand Startup Ecosystem Report 2021 from NIA, we have seen Thai startups develop into unicorns with a capital of $100 million – a milestone that reflects the potential of the Thai startup ecosystem. As the COVID-19 pandemic has accelerated the digital transformation process and made it a business imperative, we recognize the importance of startups as one of the key drivers of a sustainable economy, and we aim to help startups realize their full potential with maximum growth in every dimension through Microsoft tools, resources, and expertise needed to scale and make meaningful change.”
In the event, Microsoft also mentored and supported the startups’ pitching process to create more dynamic storytelling for their businesses. Furthermore, selected startups may be able to proceed under a joint venture with Microsoft with access not only to investment funding but also to Microsoft technologies as well as consultation from Microsoft experts regarding business development and marketing opportunities. Details on the recruitment process for this joint venture program will be announced later.