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Kasetsart University is making impressive headway in grooming young entrepreneurs for the highly competitive world,
Bamrung Amnatcharoenrit
Showing off a model wearing a Raidz suit are young entrepreneurs Punwess Sukavanich and Wassana Kanpukdee, the founders of Sci-Arms Co.
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Punwess Sukavanich and Wassana Kanpukdee had always dreamed of forming their own business. But it was not until they were 25 that the pair quit their jobs at a technology company to form Sci-Arms Co along with four of their peers last March.
The six-month-old company is now busy preparing for the roll-out of Raidz suits, which are worn in an outdoor laser-tag shooting game similar to Paintball. Although they see big potential in this sports-gear niche, they find it tough to secure a foothold.
Of the six partners, two run the company full-time. Mr Punwess, an electrical engineer from Mahidol University, is managing director responsible for creating and tailoring the 30,000-baht Raidz suit, equipped with a laser simulation system. The job requires that he pool all the knowledge he has in engineering, computer games, wireless networks and innovative ideas.
Meanwhile, Ms Wassana, an accounting graduate from Walailak University, looks after finance, office administration and marketing.
For production, they chose to outsource local manufacturers. They expect to sell 100 Raidz suits annually, mostly to resorts and game field owners in the United States, Europe and Australia.
As new entrepreneurs with a small budget of one million baht, they chose to adopt "guerrilla marketing", which involves seeking all possible ways to promote the product at the cheapest costs. Since their product targets a niche market, the media they prefer must be able to focus on specific groups such as the internet and direct mail.
But so far, doing business has not been as easy as they once thought and sometimes it is totally out of control. One valuable lesson they learned is that trust and maturity play a key role in achieving their goal.
"So far, I have worked tirelessly. Even so, sometimes I fail and feel stressed out. There are times when I can't work any more and have to leave the office. I'd take a ride to relax before coming back to face the reality," Mr Punwess says.
The young company is part of the entrepreneur creation programme at Kasetsart University Business Incubation Center (KU-BIC), a special project directed by the Public Private Technology Transfer Center (PPTC). The centre helps promote the small and medium-sized business scheme initiated by the government in 1997.
Officially established in 2006, the KU-BIC aims to turn the university's research work into real business. It also wants to encourage students, alumni and lecturers to participate in the centre's activities.
It also promotes business sustainability at a national level, striving to help the country reduce its import bills and boost exports, according to Assoc Prof Jesda Kaewkulaya, vice-president for academic services of the Office of the President at Kasetsart University.
"Importantly, the project will also help minimise the brain drain to the business sector among university lecturers," Assoc Prof Jesda says.
He says the university is offering flexibility to lure the lecturers to work with the centre. Some rigid bureaucratic regulations are being removed. Incentives are also be given in the form of shares in the disclosure, royalty and licence fees of viable products.
There are 4,000 technology-related research projects and 1,700 specialists in the university from fields such as agriculture, fishery, forestry, engineering, computers, food, and machinery.
Under the incubation programme, prospective entrepreneurs will stay with the centre between one and three years, depending on the strength of the company, after which they should be ready to stand on their own.
During the period, they will work with the academic specialists on the projects. The research will be experimented in laboratories to make sure that the products are commercially viable. They will also be trained for business skills - from creating business plans to marketing, brand building and communication campaigns.
The centre will also seek sources of funds for them, as well as act as a matchmaker between the producers and distributors. As well, it will seek potential ways to address the weaknesses of young entrepreneurs to reduce business risks.
Pairoj Phootong, the centre's manager, says the reason for this is that the real business world is very competitive, as evidenced by official figures. Over the past five years, 25,000 companies went out of business out of 45,000 registered with the Department of Business Development.
At present, the centre can manage 15 potential projects at any one time and the number will be increased in the future. Its record is impressive with some of its "graduates" now not only standing on their own but also generating healthy sales. They were chosen from 90 applicants. Conditionally, the successful candidate will have to use university resources up to 80%.
"Here (the centre) has no plan to promote careers for the unemployed. Only candidates with high-potential products are welcomed," Dr Jesda says.
Occupying the fifth and sixth floors of the centre's building now are six companies. The doors are open seven days a week. In some cases, it is open around the clock while their occupants are busy preparing for product launches.
Mr Punwess feels at home here. He gains not only learning experience from other entrepreneurs, but also gets a morale boost from them when facing problems. When his funds are running low, he feels better talking to other entrepreneurs, who tell him such problems are common and that all he needs to do is be patient.
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