LiVE Platform, developed by LiVE Fin Corp under the Stock Exchange of Thailand (SET), is launching a new initiative aimed at enhancing the potential of 60 entrepreneurs, small and medium-sized enterprises (SMEs) and startups in targeted high-growth industries.
Jointly developed by LiVE and partners, including the Thailand Center of Excellence for Life Sciences (TCELS), the National Innovation Agency (NIA) and KPMG Thailand, the initiative is called the "New S Curve to Capital Market".
Workshops, group and one-on-one coaching from July to October will give participants the opportunity to receive funding of up to 1 million baht each from the Capital Market Development Fund, as well as other financial support and benefits from partners.
The initiative offers a pool of expertise to support entrepreneurs in three targeted industries -- life science, high technology and high growth -- to integrate knowledge into their business operations and development to enter the capital market and support the country's growth. SMEs and startups can apply until April 26.
The SET is determined to enhance the potential of SMEs and startups via the LiVE Platform and grow their businesses with further access to funding sources in the capital market, said Prapan Charoenprawatt, president of LiVE Exchange.
"We envision the growth potential of the new economy sector will play an integral role in driving the country's economy to grow exponentially," he said.
"Startups and entrepreneurs do not need to raise funds through a stock exchange during a growth period. But when a small business is strong, it has more options for raising funds, such as bank loans or finding a joint venture partner. The SET is ready to promote new S-curve industries to be strong in a comprehensive manner," said Mr Prapan.
NIA director Krithpaka Boonfueng said the agency's key role is to promote the potential of entrepreneurs to commercially launch innovative products and access to funding sources.
This collaboration with the SET is an essential gateway to support entrepreneurs in the science, research and technology sectors, considered as the new economy for countries equipped with knowledge and capabilities to develop strong business models.
TCELS deputy chief executive Paiyada Hanchaisuksakul said life science is an innovation-driven industry that has an impact on the global economy. The agency focuses on developing and strengthening the ecosystem that facilitates innovation to be used both commercially and socially.
This collaboration will enable entrepreneurs to be more competitive and capable of gaining financial support, which are the success factors for business growth in a sustainable manner, she said.
Charoen Phosamritlert, chief executive of KPMG in Thailand, Myanmar and Laos, said the company is equipped with a team of experts to provide advice on strategic planning to strengthen the potential and competitiveness of participating companies.
The participants will receive guidelines for creating business growth and step forward to becoming listed companies on the stock exchange, creating economic value for Thailand in the future.