Digital Ventures, 7 universities, Microsoft, and KX join force in national mission to promote deep tech innovations through U.REKA program

Stocks and Financial Services Press Releases Thursday April 5, 2018 13:40
Bangkok--5 Apr--Ogilvy Public Relations

In encouraging national competitiveness enhancement and innovation, Digital Ventures, the Fintech investment and development subsidiary of Siam Commercial Bank, today announced a new program, "U.REKA", to nurture skills and knowledge in deep technology, from upstream to downstream, through cooperation with seven leading universities, Microsoft and Knowledge Exchange (KX) in a research and development incubating program.

The key project partners are the seven leading universities with renowned engineering faculties are Chulalongkorn University, Kasetsart University, King Mongkut Institute of Technology Lad Krabang, King Mongkut's University of Technology Thonburi, and King Mongkut's University of Technology North Bangkok, Thammasat University, and Chiang Mai University, The Knowledge Exchange and Microsoft Thailand.

Mr. Orapong Thien-Ngern, Chief Executive Officer, Digital Ventures Co., Ltd., said, "We have observed many challenges in the development of ecosystem for startup and innovations especially in deep technology research and development in Thailand. In other global innovation hubs, like the US, China and Japan, the enhancing ecosystem, including full supports from the private sector, the government, education institutes, entrepreneur mindset, and financial resources, is observed. This sparks an idea to create the "U.REKA" program to enhance Thailand's ability to develop innovations in the long run."

The project encourages lecturers, students, researchers and those interested in advanced technology to join force as a startup enterprise and initiate new ideas in developing deep technologies, such as Artificial Intelligence (AI), Blockchain, Clouds and Security, Big Data / Internet of Things, Virtual Reality (VR) / Augmented Reality (AR), and Quantum Computing, into innovations. These advanced technologies will enhance development of key industries, starting with retail, tourism / travel and financial services. These ideas will be turned into actual products and services available on the market.

The startups selected by the U.REKA program will receive full support from partners throughout the program period. Digital Ventures will provide financial support and financial product/service advices. Microsoft will provide both software technology required for the development and experts who can provide relevant advices to the participating startups. The Knowledge Exchange meanwhile provides the place with enhancing environment for startup to work and develop new technologies. Participating universities will provide knowledge and innovation from basic research to support the development of technologies and increase market opportunities, as well as recruit researchers with expertise in related advanced technologies to join the team to support innovation development.

Mr. Dhanawat Suthumpun, General Manager, Microsoft (Thailand), said, "Microsoft, as a technology leader, has been continuously supporting startup and researches. At the global level, we introduced "Microsoft for Startups" to empower startups worldwide with advanced technology. U.REKA's shared vision encouraged us to join this program. We will share our expertise and technical know-how, and marketing for solution business. A technology knowledge exchange with Microsoft Technology Center in Singapore, our regional headquarters, is forged. It is a good opportunity for Microsoft to share our resources and worldwide experience with those who will design the future of Thailand. We are excited to see the power of Thai startups and researchers in writing the new future, all made possible through our cooperation programs."

Prof. Dr. Booncharoen Sirinaovakul, CEO, The Knowledge Exchange, said, "Creating the pleasant ecosystem for innovation development is very important. The place where startups meet is crucial in bringing ideas to live. KX therefore joins this program to provide space for participating startups to work together, exchange ideas and finally bring ideas to reality."

Mr. Thien-Ngern added, "We hope this project will spark a new culture of innovation development in Thailand. We hope this culture will expand and grow in the long run. Digital Ventures and our founding partners are more than happy to welcome new partners who have shared visions and commitment to expand this program for the best benefits of Thailand in a sustainable manner."

U.REKA opens for applications for interested startups to join the IDEATION BOOTCAMP
From now till 15 May 2018. For more information, click www.u-reka.co

Latest Press Release

TBank#s New CEO committed to challenging 2019 targets against backdrop of average annual profit growth of 10% over past 4 years

Praphan Anupongongarch, formerly chief of auto hire-purchase business, now takes the helm of Thanachart Bank as new CEO. Having introduced his strong management team and adopted both Customer-Centric and Fast & Focused Policies, he aims at...

Finansia Syrus Securities to hold Finansia Investment Conference 2019 Featuring local institutional investor team to enhance its integrated services

Finansia Syrus Public Company Limited joins hands with Finansa Public Company Limited to hold flagship event "Finansia Investment Conference 2019", the first grand meeting of the local institutional investors and more than 40 leading listed companies....

SET joins hands with MSCI to promote sustainable investment

The Stock Exchange of Thailand (SET) has joined MSCI Inc. in organizing "Thailand Sustainable Investment" - an exclusive seminar for executives of listed companies, securities companies and asset management companies as a boost to capitalize on...

mai welcomes construction service provider CAZ on January 22

Market for Alternative Investment (mai) will list CAZ (Thailand) pcl, a construction service provider for oil, gas and petroleum industries, on January 22, under the ticker symbol "CAZ". The company has a market capitalization at its initial public...

Photo Release: KTC joins EVEANDBOY to celebrate 2019 beauty up to 17% cash back.

"KTC" or Krungthai Card Public Company Limited, by Mr. Sorachach Srilamul, Senior Manager - Credit Card Business, in association with EVEANDBOY, Miss Pluemmanas Panrit, Manager, give special privilege of up to 17% cash back to KTC cardmembers who shop...

Related Topics