Digital Ventures expedites sustainable growth of Thai startups, recruiting tech startups for 2nd Accelerator program with aim to support SCBs and corporate clients businesses

Stocks and Financial Services Press Releases Tuesday June 20, 2017 13:17
Bangkok--20 Jun--Ogilvy Public Relations

Digital Ventures, the fintech investment and development subsidiary of Siam Commercial Bank, has launched the Digital Ventures Accelerator Batch 1 or "DVAb1" program, building on what it had begun to establish Southeast Asia's best ecosystem for startups. The program, now in its 2nd year, will see experts from various fields help to accelerate growth for Thai startups.

Mr. Orapong Thien-Ngern, said: "The first Accelerator program was extremely successful, with startups receiving funding as high as 8.5 million baht. They also got an opportunity to work with SCB's largest corporate clients to offer business solutions. For example, OneStockHome, who offers a digital platform for construction materials, received strategic support from SCG; while Seekster, a cleaning and repair service platform for properties, has been strategically reinforced by Ananda Development. Additionally, several startups in DVAb0 are also forming product and technology partnership with SCB. These simply reflect the strong potential Thai startups possess."

"The success of DVAb0 in the first year is a testament to the uniqueness of our Accelerator program for the support provided for startups to succeed. Throughout the six months, we witnessed outstanding performances and impressive growth that exceeded our expectations. For instance, PetInsure, the first online pet insurance brokerage service provider in Thailand, saw its customer base grow 45 times (data collected during October 2016 – March 2017), while Seekster's revenue grew 77% (data collected during November 2016 – April 2017). We received cooperation from experts in many different fields, all contributing their knowledge and experiences to enhance the capabilities of our startups. We also had support from SCB and globally-renowned partners from diverse industries including Baker & McKenzie, PrimeStreet Advisory, Google and Microsoft. On the back of this fantastic success, we have decided to continue with DVAb1 to extend opportunities to more Thai startups. Our hope is that startups from our 2nd year of the program will achieve at least double growth by the end of the program. We are also more committed than ever to building the best ecosystem for startups in Southeast Asia and promoting real and sustainable growth. SCB's corporate clients will also benefit from this," said Orapong.

Mr. Charle Charoenphan, Head of Accelerator, Digital Ventures, said: "One thing that makes our Accelerator program stand out is the 300,000 baht funding all of the 10 selected startups receive, in addition to the knowledge they gain throughout the six months of the most intensive training from our well-designed and tailor-made course. The first three months focus on ensuring a strong business foundation, with courses including Startup Essential Program by Mr. Surawat Promyotin, Legal knowledge by Baker & McKenzie, and finance training by PrimeStreet Advisory. The latter three months are the real accelerator portion that will help our startups grow fast, with programs such as Growth Hacking and dedicated mentors who specialize in the fields in which our startups are involved, promoting truly sustainable growth beyond the end of the program. Teams will also get a chance to receive funding worth at least 1 million baht from SCB after they've completed the program."

Startups joining the Accelerator program will also have the unique opportunities to work with SCB and its corporate clients, not to mention having access to knowledge and exchange experiences with leading international startups. Digital Ventures is committed to making DVA the best accelerator in Thailand and Southeast Asia.

Application to join DVAb1 starts now until July 9, 2017 at Don't miss the latest updates about FinTech knowledges at

Latest Press Release

PTG reveals business plan in Golden Pig Year Targeting revenue and volume growth by 20% Gearing up for expansion to 2,000 service stations and joining up with business partners to create new customer experiences

"PTG Energy" targets 2019 revenue and volume growth of 20%, aiming to increase EBITDA by 40%-50% and expand service stations to 2,000 with planned investment of 3.5 billion baht in order to maintain the second position in retailed oil market share. Mr....

Photo Release: EXIM Thailand Celebrates 25th Anniversary Inviting Public and Private Sectors to Donate to Chakri Naruebodindra Medical Institute

Mr. Adul Chotinisakorn (third right), Director of Export-Import Bank of Thailand (EXIM Thailand), together with the Bank's senior management welcomed executives from private and public agencies on the occasion of EXIM Thailand's 25th anniversary at EXIM...

Prudential Thailand launches PRUsuper a unique and flexible solution targeting customers who dont like insurance

Prudential Life Assurance (Thailand) Public Company Limited ("Prudential Thailand") has launched PRUsuper link, a unique and flexible investment-linked insurance product that was developed based on the true voice of customers through an online customer...

Bangkok Bank approved that the dividend payment be paid at the rate of Baht 6.50 per ordinary share

Bangkok Bank approved that the dividend payment for the operating results of the year 2018 be paid at the rate of Baht 6.50 per ordinary share and resolved to convene the 26th annual ordinary meeting of shareholders on April 12, 2019. Bangkok Bank...

PTT Reveals 2018 Performance, Creating Energy Security, Tackling Changes for Sustainable Future,

Strengthening infrastructure, developing new businesses, raising competitive edge, along with improving people's quality of life and conserving environment, PTT grants 82.220 billion Baht of its revenues to the government as its tax payment. Mr. Chansin...

Related Topics