That solution was to make prayer mats made from natural rubber and Apisit, now 24, takes pride that sales of the mats have reached up to Bt7 million a year. And he is now taking orders for spin-off ideas, such as yoga mats and knee supports – also made from rubber.

“My family faced a debt burden amounting to Bt500,000 four years ago, when the price of natural rubber dropped to as low as Bt100 for 3 kilograms. This had a big impact on my family’s business, which buys natural rubber from the farmers for sale to other parties,” Apisit said in an interview with The Nation recently.

Apisit said that the household finances became so desperate that this mother had to sell half of roof of their house in order to send money to him for buying textbooks for his university studies. “I eventually had to see my teacher and tell him that I had to drop out of my classes and go back home to help my family bring in income.

“The dean in the faculty of science at my university told me that I did not have to resort to that, as the faculty would help out by rescheduling my tuition fees and looking for ways to find a scholarship for me.

“With this support, I was able to continue my studies. However, I still needed to find a way to help my family, so I discussed the problem with my room mate, who is a Muslim. He went on to tell me that he has to pray five times a day and that the kneeling made his knees sore. This inspired me to research and develop the prayer mats made from natural rubber.”

He started out in his research at the chemicals department of the science faculty where he studied at Prince of Songkla University in Hat Yai. He made use of the department’s resource to get to the point where he had the first small prayer mat.

“I tested my product with my friend and he said it worked well for him,” Apisit said.

With that endorsement, he began offering the mats for sale to Muslims at the university and to friends of the family. Before long, he had gained orders for 50 mats. He overcame the problem of his not having sufficient funds to make the mats by asking the customers to pay upfront half of the Bt500 price for them. That arrangement provided him with the funds to develop a machine for production of the mats at a standard size.“Our customers were willing to pay, so I was able to start work on developing the machine by myself,” Apisit said. “I asked the owner of the dorm to be able to use some space at the premises for this and, with that approval, I was able to set up the machine and get to work on fulfilling the orders.”

From that first order batch of 50 mats, Apisit succeeded in expanding the market to the point where was averaging sales of 600 items a month.

Outgrowing the space at his dorm, he spent a budget of Bt1 million to set up a plant on a 500 square metre site. He also gained a Bt3 million loan from the Small and Medium Enterprises Development Bank, which has a programme known as SME-D Scale Up to support owners of rubber businesses to expand their operations.

The owners learn how to create value-added products made from natural rubber and the programme provides more loans for entrepreneurs to realise these ambitions.

With the new manufacturing plant, Apisit was able to increase the production capacity from 50 mats a day to 1,500.

SME-D Scale Up programme is open to small and medium-sized enterprises that want to benefit from the training in this value-added approach involving natural rubber. The training will take place at the Price of Songkla University and the owners of rubber-related business can express their interest in the course until Monday.

Apisit said that he was able to increase the production capacity when he secured more orders, both from the home market and overseas, as word spread about the product.

More exposure for the mats was gained from his participation in an exhibition conducted by the SME Development Bank.

“Some of our customers have requested that we produce other types of products, such as the yoga mats and knee supports, as well as baby sleeping bags,” Apisit said.

“This presents an opportunity for us to expand the business, as we also plan to export our products to overseas markets such as Indonesia, and Middle East. We have been engaged in negotiations for beginning the exports and they will start after our new plant begins operations in August.”

Buoyed by this success, Apisit said his venture has been supporting rubber farmers by buying natural rubber from them at between Bt80 and Bt100 per kilogram – far higher than the market price of around Bt48. Apisit’s mats are now selling for Bt999 each.

The growth in the business has enabled him to hire two family members to produce the colourful covers of the mats that are made in Koh Yor district of Songkla province. This creates a unique look to the products.

“This has helped us to differentiate our products from other in the market, and I have registered the copyright for the products. With this approach, our products are unique and create more value for our customers.”

They plan to use the fund to help at least six startups exit with a valuation of at least $US100 million by 2023.

The 500 TukTuks Fund I invested in 50 startups, with only one failure. The managers expect to sustain this momentum with the second fund, which has more money available for investment, though the figure was not disclosed.

The managers say the 500 TukTuks Fund II will accelerate the development of the startup industry in Thailand, as well as in the CLMV countries: Cambodia, Laos, Myanmar and Vietnam. The support from the fund is expected to help realise the goal of seeing at least six startups exit at $US100 million within five years.

The Fund II has the backing of many large companies, including TCP Group, Central Group, Saha Pathana Inter-Holding Plc, Vachaphol Company and Southeast Insurance.

Krating Poonpol, managing partner of 500 TukTuks, said the Fund II, in supporting startups, would help to create a new economic growth engine for the country, especially in the targeted S-curve industries. Thus the new fund is backed by the big companies who need to support startups while looking for opportunities in the S-curve industries, Krating said.

The Fund II’s investment in startups will cover from seed funding all the way up to Series A.

“For the Fund II, we are expanding our amount of investment and the scope of sectors and countries,” Krating said.

“We are continuing to invest in fintech, insure-tech and travel-tech, but we are gearing up for more attention to deep-tech development for the agriculture and food industries as well.”

He said Thailand needs to have startups that can exit with at least US$100 million in order to build momentum to drive the country’s startup ecosystem to the next level and to drive Thailand to become “a startup country”.

“For Fund I, 500 TukTuks invested in the 50 startups over the past three years. The top five of these have a company valuation of at least US$30 million, and we have one centaur startup, which means a company valuation of over US$100 million,” Krating said. “Together, they have created employment for more than 10,000 people.”

“Our mission is to create one or two iconic tech companies from Thailand that come from our portfolios. We want to create the future leaders for the country. There are three pillars to drive the country’s economy, large corporates, SMEs (small and medium-sized enterprises), and startups – and we are involved in two of them.”

Natavudh Pungchareonpong, managing partner of 500 TukTuks, said the key criteria is to invest in startups that can create synergies with the company’s investment partners, both to create the new S- curve industries and to become enablers for the large companies.

“There will be a lot more synergies arising between startups and large corporates, especially from our portfolios,” Natavudh said. “The large corporates in Thailand are very active in seeking out innovation for creating their new S-curve opportunities and for growth through investing in startups.

“Within two to three years, we will see a lot more series A and series B startups in Thailand because of corporate venture capital.

“We have Bt400 million for Fund I and for Fund II we have more than that.” Saravoot Yoovidhya, chief executive officer of TC, Pharmaceutical Industries, said that it is the first time that TCP group has invested in startups. This move is aimed at supporting the country’s startup ecosystem, to seek out the new S-curve opportunities and new growth for the company’s existing business.

Danapat Promphan, vice president – investment, Central Department Store, said that the company needs new ideas and innovation for expanding its core business.

AIS is the only mobile operator buying Honor 10 in Thailand, offering an intelligent smartphone to meet all digital lifestyles in support of the AIS NEXT G network, the fastest mobile network in Southeast Asia.

In addition to AIS shops nationwide, it focuses on online sales to capture the millennial market in line with the philosophy of the Honor e-brand.

CPF yesterday signed a memorandum of understanding with US-based JDA oftware Co Ltd, a world-class supply chain and logistic developer, to revamp the supply chain of its broiler business. This partnership aims at digitalising the business from upstream to downstream, including stores, distribution centres, logistics, and manufacturing in a digital network, matching demand and supply continuously, at every point of the supply chain.

The big data analytic will play a big part in providing better trend forecasting, cross-functional planning and plant execution. Ultimately, it will result in cost saving, less environmental impacts and improved customer experiences, said Sooksunt Jiumjaiswanglerg, Chief Executive Officer/Agro Industrial Business and Co-President , said yesterday.

“This is the first time the insurance business has offered advisers to customers. We will have 500 advisers to provide information to our clients,” said Sara Lamsam, the company’s president and chief executive officer.

To achieve this goal, the company said it will exercise its strengths as a global brand by expanding its market footprint to cover all segments of the market, particularly by boosting its appeal among style-conscious young people.

The company yesterday announced the launch of its first canned energy drink in Thailand, Carabao CAN Green Apple, which it describes “a new great tasting energy drink from the UK” that will be backed a big marketing campaign during the 2018 World Cup.

Carabao has been viewed as taking the energy drink industry by surprise by broadening the brand’s appeal to target so-called Generation Y consumers.

The company says its is offering “a world-class product and world class brand that covers all segments” of the markets with the launch of Carabao CAN.

Carabao CAN Green Apple – with the scent of the fruit – comes with a sophisticated can packaging and will get a big boost through the public relations campaign during the World Cup entitled “Sawasdee World Cup, Get Lucky with Carabao”. Prizes worth Bt3 million will be up for grabs, the company said. The campaign starts today and ends on July 15.

Sathien Setthasit, chief executive officer of Carabao Group Plc, said that in a bid to highlight Carabao as a world-class product and a world-class brand, “Carabao is creating a big phenomenon in the beverage industry once again by stepping up the brand’s sophistication for sustainable growth in the 4.0 world by expanding its customer base to cover all target groups”. This includes the new generation, working-age consumers, and the millennial generation, also called Generation Y, Sathien said.

“In Thailand, major customers of energy drink products are labourers. This is different from the UK, where the largest number of drinkers of energy drinks are new generation consumers and youngsters,” he said. “They usually use energy drinks as a mixer to other beverages. In Thailand, few energy players have modernised their energy drink products and tastes to meet with the taste of younger consumers. And we have seen this as an opportunity.”

Thirst for innovation

Sathien said that Gen Y consumers are known for their love of innovations and new challenging experiences. The company is launching Carabao CAN Green Apple under the concept “Don’t Say Can’t, Carabao CAN”.

The concept underscores “the millennials’ courage, challenges, fearless practicality and love of living life in style”, Sathien said.

The drink has enjoyed popularity and been a great success in the United Kingdom. “It’s received certification as a good, quality product with a great taste by the International Taste & Quality Institute (ITQI), one of the world’s leading research institutes that promotes food and drink products with excellent taste.” Sathien said.

The company expects to sell more than one million cans of the new drink in the first three months after the launch. “We have done research and development in taste to please the palates of consumers. Carabao CAN Green Apple is a carbonated drink that refreshes and energises and comes in sophisticated and innovative packaging that is colourful and eye-catching,” Sathien said. “The product is outstanding with a unique taste. At present, Carabao CAN Green Apple is a great success in the United Kingdom and European markets.”

It is set to go on sale at 7-Eleven shops for Bt25 from today. The target group are the millennials, “who are known for their individualism and taste for new positive challenges”, Sathien said.

The company is planning online and offline marketing and public relations campaigns, especially on social media and in collaboration with “world-class influencers” such as players of the Chelsea Football Club and new-generation idols.

The company will also hold promotional activities targeting the new generation and spanning music, art, and graffiti in cooperation with A-list entertainers and celebrities such as TwoPee Southside, Thailand’s best-known rapper, who represents the new generation characterised by their creative ideas and courage to show off their talent in a positive way.

“They are known for never shying away from doing what they love. This marketing strategy will allow the public to see the image of Carabao in a completely new, different perspective that underlines the fact that Carabao is a world-class product and a world-class brand that is ready to reach all groups of consumers that are diverse and unique,” Sathien said. “The product launch marks Carabao’s journey into a new era with its standpoint that is in synch with youngsters’ beliefs and ideas. This kind of image fits well with Carabao’s attempt to be a world-class product and a world-class brand in every era and for the new generation.

“The new product launch is giving a big boost to the Carabao brand’s potential that comes as a new phenomenon in the energy drink industry. The launch will enable Carabao to tap more into a market favoured by the new generation, working-age consumers and Gen Y.”

He said the company is setting its sights on becoming the No 1 leader in the energy drink market in the next two years.

Carabao Group expects its total sales to increase not less than 25 per cent this year, driven by higher exports – especially to CLMV countries (Cambodia, Laos, Myanmar, and Vietnam), Afghanistan and China. The company posted Bt13 billion sales last year, while in the first quarter of this year, the company’s sales reached Bt3.35 billion, which is on track to meet the growth projection.

“Carabao energy drink is No 2 in Thailand’s energy drink market with 26 per cent market share, far larger than the third leader in the marketplace,” Sathien said.

“We want to beat the No 1 player and to become a keen leader in the Thai energy drink market within the next two to three years,” said Sathien, adding that the Thailand’s energy drink market is worth Bt32 billion, of which between 1 to 2 per cent are canned energy drink products.

“We want to increase our market share to 35 per cent and to become leader in the next two to three years,” he said. Thailand’s energy drink market has declined by between 2 per cent and 3 per cent annually for the past two years. To welcome the FIFA World Cup, “Carabao is preparing to give happiness to the Thai people”, said Sathien.

The company has teamed up with the private and public sectors to sponsor the live broadcast of the 64 World Cup matches.

President Kiyoyoshi Oba revealed that the company has been operating in Thailand for 61 years in support of the operations of Toyota Motor.

“Our business units comprise automotive (80 per cent) including materials, parts and accessories, and non-automotive (20 per cent) such as the production of uniforms for manufacturing personnel, insurance broker services, chemical additives, plastic resins, steel bars and frozen seafood,” he said adding that the company’s overall performance for the first five months was satisfactory. It posted a total revenue from January to May 2018 of Bt32.5 billion, an increase of 4 per cent from the same period last year.

To comply with the business strategies of the parent company in Japan, Oba said the company will further expand its non-automotive business unit by operating as a trading house aiming at Japanese life style and food products. The company expects the ratio of contribution from non-automotive products to reach 30 per cent of its total revenue in the next five years.

“We also plan to enter into energy business such as petroleum trading, including diesel, bunker and asphalt and health care products,” he said.

Toyota Tsusho (Thailand) will host “Toyotsu Japan Festival 2018’, the largest festival of food and lifestyle products from Japan in Thailand and expects the show to generate more than Bt30 million in revenue.

The event will be held at Royal Paragon Hall, Siam Paragon, from June 29 to July 1, 2018. It will help stimulate growth of the Thai economy and to emphasise the company’s status as a leading trading house in Thailand. During the event, TTTC will also announce details of its “Sendai” airport operation, the latest business unit of the Toyota Tsusho Corporation and the first time a private company operate an airport in Japan.

Toyota Tsusho Corporation, the parent company, is exploring new business opportunities by taking over the operations of the Sendai Airport in Japan. With an investment budget of US$10 million, the company sees great business and tourism opportunities in Sendai city, one of the seven biggest cities in Japan, located in the Tohoku area.

First private airport operator

It is the first time that the Japanese government has allowed a private company to operate an airport. The Sendai mega project is carried out by three investors – Tokyu Group, Maeda Construction, and Toyota Tsusho Corporation, It is expected to generate US$57 million in revenue this year and up to US$63 million in 2019.

Toshiyuki Azeo, executive vice president of global parts & logistics management department, Toyota Tsusho (Thailand), added that Toyota Tsusho Corporation has started operating Sendai airport since July 2016.

Sendai is a key city and the gateway to many others in the Tohoku area where tourists can visit all year round. Sendai is only 300 km from Tokyo. The transportation from Tokyo to Sendai by Shinkansen Tohoku train line is just 1 hour and 40 minutes. The Sendai Airport handles 58 flights per day, both inbound and outbound, with 12 airlines using the airport, and a total of 3,438,961 travellers per year (9,422 travellers per day). The airport offers complete services and facilities such as shops, food stores, a view platform and a multipurpose hall amomg others.

Anujtha Jaovisidha, general manager of corporate planning department, the event director of the “Toyotsu Japan Festival 2018”, was pleased with success of last year’s event, which attracted more than 46,000 visitors.

Most of the visitors were families (80 per cent Thais) and the event posted a net revenue of Bt20 million.

“This year, we invested Bt20 million to organize the festival under the theme “Nice to meet you Tohoku”, based on the Sendai Tanabata festival which is the biggest Tanabata festival in Japan.

Visitors will see interesting facts about Sendai city, the new and upcoming destination in the Tohoku area. The target customers are both families and the younger generation, who love to visit Japan,” said Anujtha.

She said the target number of visitors during the three days of the festival (June 29 and July 1) is 80,000 with estimated revenue of Bt30 million.

With Digitalcom acting as the distributor, the three companies will offer the local market a new Smart Cities Video Intelligence Solution for Public Safety, combining Hitachi Video Analytics (HVA) and Hitachi Visualization Suite (HVS) from Hitachi Vantara and Video Management Solution from Milestone Systems.

The Smart Life Smart City concept is diverse and covers many aspects of living. For the successful implementation of Smart Life, Smart City, a good database is critical. Hitachi Vantara and Milestone provide the database, the analytical capabilities and a full range of security and surveillance features. Combined with the in-depth experience of Digitalcom, the companies provide an intelligent state-of-the-art implementation public safety and an enhanced experience for the digital age.

Within the solution, Hitachi Video Analytics (HVA) analyses and processes videos from CCTV and video files, allowing the system to learn and investigate from a whole range of events.

HVA can adjust image resolution, keep notifications up to date for overall operations and has privacy features to blur faces that are not required for disclosure. The platform also offers Live Face Matching (LFM), which compares the faces collected by CCTV with the database of people already registered. This is crucial in security when face recognition is required.

Finally, Hitachi Visualization Suite (HVS) links video data from CCTV to other layers of data for actionable smart city intelligence. From monitoring water levels to traffic volume, HVS is capable of integrating hundreds of simultaneous events for geospatial visualization. HVS provides a single-screen, map-based view that combines video, operational data, GPS transit and fleet vehicle tracking, building and infrastructure data, social media and other sources.

“Now more than ever, enterprises, businesses as well as law enforcement, emergency management, and public sector personnel require a comprehensive, end-to-end intelligent platform solution

that offers video surveillance and advanced insights. By working together, Hitachi Vantara, Digitalcom and Milestone Systems are delivering technological capabilities that will make Smart City, Smart Life in Thailand a reality,” said Thanavut Changtrakul, head of Hitachi Vantara Sales in Thailand.

Suwich Chitkasemsuk, managing director of Digitalcom, said that the company is the first IP Network Camera manufacturer in Thailand. Our business started from customer care and evolved into distribution of network equipment and servers through our partners.

“Our IT and Security dealers in Bangkok and provinces nationwide are 1000-strong. Together with Hitachi Vantara and Milestone, we form a partnership to launch an intelligent platform solution that will lead the way to a Smart City. We have been working for 15 years now with Milestone, and we value this relationship greatly.

We appreciate the trust given to us by Hitachi Vantara and our entire Digitalcom family is looking forward to roll out our marketing plan in Thailand in the coming weeks.” he said.