Thailand: DTAC ACCELERATE’S Batch 5, which is now open for applications, introduces a new track in search of heavyweight start-ups with global potential, according to Total Access Communication (DTAC).
The programme has teamed up with Google Developers, Facebook, and corporate venture capital (CVC) providers Muang Thai Life Insurance and Thai Wah, which aim to adopt innovation and technology from the DTAC Accelerate family to enhance their business operations and benefit customers and the society, in support of the country’s drive towards “Thailand 4.0”.
DTAC Accelerate Batch 5 provides participating teams with quality training on how to become successful start-ups and one-on-one mentoring from a team of world-class start-up gurus and successful and renowned entrepreneurs in the Thai start-up industry.
Lars Norling, chief executive officer of DTAC, said that as a digital service provider, his telecommunications company spotted the incubator trend before others.
“In 2013, we launched DTAC Accelerate, a start-up incubator to empower and bring Thai start-ups to the global stage,” he said. “Within four years, DTAC Accelerate has become an established and fast-growing company and a key component of DTAC’s mission to become the No 1 digital brand in Thailand, delivering product and service innovations to over 25 million subscribers.
“Over the past four years, we have [had more than] 1,000 applications, and 21 start-up teams have taken part in the final stage.
Those 21 start-ups generated combined revenue of over Bt2 billion in 2016 and created more than 10,000 jobs, while raising over Bt150 million from FDI [foreign direct investment].
“The success of DTAC Accelerate reflects the primary objective of start-ups, which is to scale up and achieve rapid, triple-digit growth from the use of technology to reach and meet customer needs.”
The goals DTAC Accelerate in targets by 2020 are:
- To grow the combined value of start-ups in the DTAC Accelerate family to Bt5 billion, three times the current value.
- To become the No 1 incubator programme in Southeast Asia, with support in five key areas: funding, mentoring, training from world-class experts, co-working space, and marketing and public relations support.
- To offer participating start-ups an opportunity to reach more than 214 million subscribers of Telenor Group in 13 countries around the world.
- To create the first Thai “unicorn”, or technology start-up valued at US$1 billion (Bt35 billion) or more.
Andrew Kvalseth, chief digital offi?cer at DTAC, said: “DTAC Accelerate is the No 1 incubator in Thailand and [ranks third] in Southeast Asia, behind Singapore and Indonesia respectively.
“The combined value of 21 start-ups from the DTAC Accelerate family is over Bt700 million, with 500-per-cent annual growth rate and 70-per-cent follow-on funding from investors.
“DTAC has partnered with the start-ups and launched various promotional campaigns to DTAC subscribers, such as product and service packages from Skootar, Fastwork and GizTix for SME [small and medium-sized enterprise] clients; special privileges for DTAC Rewards and Blue Member customers from Fabbrigade, Piggipo and Skootar; discounts for tourists using the DTAC Happy Tourist SIM to book day trips with TakeMeTour; and free investment seminars by Finnomena for DTAC Blue Members customers.
“DTAC Accelerate is used as a model for Telenor Group in seven countries, [namely] Malaysia, Myanmar, Bangladesh, Pakistan, Hungary, Serbia and Norway, to foster start-up spirit among employees by launching ‘Telenor Ignite Incubator’, [which] encourages employees to develop ideas and innovation.
Source: Nation Multimedia