The startup direction in the future by prominent entrepreneurs in Thailand to share his experiences.
PTT Senior Executive Vice President of Innovation and New Ventures Dr.Buranin Rattanasombat will acquaint the audience with the guidelines and operations of the company’s new businesses in a bid to create opportunities and solve problems for Thai businesses at the enlightening virtual forum “2022 Thailand Startups in Post-Covid Era” on October 29 from 2PM to 4PM. Stay tuned!
The startup direction in the future by prominent entrepreneurs in Thailand to share his experiences.
Jirayut Srupsrisopa, Founder & Group Chief Executive Officer of Bitkub, will join the seminar on the startup direction in the future by prominent entrepreneurs in Thailand to share his experiences.
See you at our informative & exciting “Virtual Forum: Thailand Startup in the Post-Covid Era” on October 29, 2021, from 2PM to 4PM
The Nation Thailand and Springnews invite you to listen and discuss the direction of Thai startups in the virtual seminar.
The Nation Thailand and Springnews invite you to listen and discuss the direction of Thai startups in the virtual seminar “Thailand Startup in Post Covid Era 2022”.
• Special talk on “Startup Experience in Australia” by Allan McKinnon, Australian Ambassador to Thailand
• Seminar on the startup direction in the future by prominent entrepreneurs in Thailand
KBTG has also teamed with Siam Piwat Co., Ltd. in creating an NFT Innovation Digital Wall to unlock a new experience for audiences in closely admiring NFT artwork and collectibles.
KASIKORN Business-Technology Group (KBTG) has launched KASIKORN X, or KX, to serve as a new S-Curve factory producing startups for the decentralized finance world and beyond. In parallel, the company has debuted Coral – a non-fungible token (NFT) marketplace platform to support Thai and other Asian artists in making their artwork available for sale globally. The platform will go live by the end of this year. KBTG has also teamed with Siam Piwat Co., Ltd. in creating an NFT Innovation Digital Wall to unlock a new experience for audiences in closely admiring NFT artwork and collectibles.
Mr. Ruangroj Poonpol, Group Chairman – KBTG, revealed that to keep abreast of the evolving digital world, KBTG has established KASIKORN X, or KX – a new company within the group to pioneer S-curve businesses in the digital era. KX will act as an autonomous venture builder that will serve to produce new businesses in the decentralized finance (DeFi) world and beyond. DeFi is a decentralized finance system via blockchain that allows anybody to examine and conduct transactions without the need for intermediaries like a bank or financial institution. Thanks to this innovative technology, KX has envisaged massive opportunities in creating disruptive businesses in the realms of financial and non-financial services that are set to become increasingly popular.
“Building Trust in the Trustless World” is KX’s key mission. KX – led by Mr. Thanaarmates Arriyavet, Head of Venture Builder, KX – has been staunchly supported by both KASIKORNBANK (KBank) and KBTG to expand its presence within the Asian region. KX working processes involve incubating new ideas, scaling and then spinning off. That is to say, new companies will be launched once business directions and opportunities in the next era become clearer.
KBTG unveils KASIKORN X and its mission to innovate in the world of DeFi and beyond
Mr. Thanaarmates Arriyavat, Head of Venture Builder, KASIKORN X Co., Ltd., said that KX’s strengths include its high degree of flexibility in management and decision-making. Additionally, its business operations are independent of KBank and KBTG. KX’s venture building has been designed to be akin to startup building. The team comprises entrepreneurs and builders or engineers. Both sides work together like business and technology startup co-founders, with the objectives of conducting studies and experiments, plus designing products for the real market at startup-like speed.
KX has previously spun off a new company related to digital assets, called Kubix, which is engaged in the ICO portal business. Today, KX is launching its second business, Coral – an NFT marketplace platform which is tasked with creating limitless opportunities for artists and collectors. As Coral has been developed from a thorough understanding of the pain points of collectors, artists, and brand makers, it has a strong desire to support both Thai and Asian artists to be well-known globally.
“The Coral platform will make publishing and selling NFTs easier like general online shopping,” said Mr. Thanaarmates. “ What sets Coral apart from other NFT marketplaces is the fact that customers can purchase NFT artwork with fiat money like Thai Baht or US Dollars, while other platforms require customers to convert their fiat currencies to cryptocurrency before they can buy artwork, which is more inconvenient. Presently, there are nine Thai artists on the Coral platform, namely Pai Lactobacillus, Tikkywow, Songsin Tiewsomboon, Ekachai Milintapas, Puntita Meeboonsabai, Benzilla, Pomme Chan, IllustraTU, and Jiggy Bug. New artists and partners are always welcome to join the platform. For additional details, please visit https://coralworld.co, which is scheduled to launch for collectors by the end of 2021.”
At this time, KX would like to introduce its first partner – Siam Piwat Co. Ltd., which will collaborate with KX to build an art, cultural and lifestyle center, and promote related activities via online and offline platforms for both Thai and foreign customers.
Mr. Axel Winter, Chief Digital Officer of Siam Piwat, said, “We are very pleased to be working with the world-class team of KASIKORN X (KX) and exchanging ideas with them, jointly exploring technology-driven business models for both online and offline worlds and co-creating communities to offer exciting new opportunities to consumers everywhere. We are excited to have an opportunity to support NFTs and co-found the Coral Platform, which will lead to new developments in art, culture, and lifestyle and deliver excellent experiences to local and international visitors. We support artists and all types of creative activities under the concepts of “co-creation” and “creating shared value.”
“Through all these years, we have collaborated with local and internationally-renowned artists to make inspiring art and given opportunities for new generations of artists and students to use our venues to create works for their benefit. We are also hosting NFT Innovation Digital Walls in Siam Paragon and ICONSIAM, so that our visitors can experience and appreciate NFT art up close and personal. We believe that the partnership between KX and Siam Piwat will mark the first step in creating businesses and innovations that integrate the offline and online worlds through DeFi, which will open doors to countless opportunities for art making and provide limitless access to new products and services in the future.”
Mr. Ruangroj adds, “The collaboration between KX and Siam Piwat Co. Ltd. will serve as a monumental step in creating businesses and innovations that link the present-day society to the digital era. DeFi acts as a portal to limitless opportunities and paves the way towards offering new products, services and experiences to numerous Thais and foreigners in the near future. By combining KX’s expertise in DeFi and innovations with Siam Piwat’s prowess in arts, culture and lifestyle, plus its wealth of assets that can be accessed by consumers physically and digitally, this cooperative effort will help to trigger the creation of new opportunities and businesses on a regional scale.”
Fourgle is a vertical social community platform that offers a safe space for sharing data as well as for gathering information about specific interests.
Thai startup, “Fourgle”, has underscored its potential by securing seed funding of USD 1 million to further the development of its innovative community platform. Connecting influencers, entrepreneurs and brands with the same interests, Fourgle will launch its flagship community CookKlick, a cooking and baking community, this year.
Dr. Anuchit Anuchitanukul, CEO and founder of Fourgle (Thailand) Co., Ltd., shared that, “We began developing Fourgle in early 2021 using our core big data and machine-learning technologies to create a vertical social community. The application has been well received to date and we have secured USD 1 million seed funding from angel investors, valuing the company at 400 million baht.”
“The impact of Covid-19 has caused a change in consumer behaviour. People increasingly communicate and share their stories and experiences online,” commented Dr. Anuchit. “People have created online spaces to exchange thoughts and ideas, which has led to the creation of more online communities. We have noticed that information in these communities is in depth and shared in detail. We see that lots of this content is valuable, divergent and can influence lifestyles and businesses. This can be used to propel decision-making, establish trends, create greater understanding, provide knowledge, help with branding and stimulate related-businesses.”
Thai Startup “Fourgle” Secures Seed Funding, will Launch at Year’s End
Fourgle is a vertical social community platform that offers a safe space for sharing data as well as for gathering information about specific interests. Apart from enabling people to connect with the world through a variety of in-app features, the platform also allows users to exchange ideas and links users to new experiences as they can easily search for related information or stories aligned with their interests. Above all, users can monetize the content they create in these communities.
The Fourgle application will kick-off with a community for those who love food and baking called CookKlick. Through inquiries and topic-specific information, as well as providing a space for idea exchange, a knowledge source and recipes, CookKlick will act as an intermediary bringing the community closer together. CookKlick will enable users to share information, create content and access news updates. From amateur reviewers to influencers, entrepreneurs and brands, CookKlick will be a channel for connecting people with the same passions.
Fourgle will launch the Fourgle application in December of 2021 and future expansion plans include creating more and different communities.
Fourgle sees community platforms as an opportunity to meet the needs of the New Gen lifestyle as well as supporting business groups that are seeking a more secure way of sharing reliable information with communities. The development of the Fourgle platform is a collaboration between influencers of these communities and the Fourgle founder team, who are experienced in founding startups in both Thailand and Silicon Valley.
“We are determined to make Fourgle an extremely useful and practical platform and aim to raise Series A funding by the end of 2022 to further advance the platform’s potential and expand its services abroad,” added Dr. Anuchit.
Representatives from public and private sectors related to digital media got together to share their ideas on the virtual forum “Thailand Platform – A Pipe Dream or Reality” hosted by Spring News on Friday.
The event was organised in collaboration with the Digital Economy and Society (DES) Ministry’s Electronic Transactions Development Agency (ETDA) and the Digital Government Development Agency (DGA).
‘Thailand Platform’ necessary to woo Thais back from foreign digital offerings
Pathom Intharodom, president of the Thai Digital Trade Association (TDTA) and director of Thailand’s Digital Council, said the Covid-19 outbreak has changed consumer behaviour and now Thais are spending more time on international digital platforms like Netflix and Spotify.
“Establishing the ‘Thailand Platform’ will promote the creation of local digital content that can compete with foreign alternatives,” he said. “The government should play the role of facilitator or regulator to ensure the private sector has what it needs and can compete fairly.”
‘Thailand Platform’ necessary to woo Thais back from foreign digital offerings
Pawin Phurijitpanya, a film director with the GDH studio, added that promoting locally made films will not only add more content to the Thailand Platform but can also be distributed via big streaming services like Netflix or Disney Plus. He said this will help expose Thai films to global audiences.
‘Thailand Platform’ necessary to woo Thais back from foreign digital offerings
“Content is key to attracting customers to a platform, not the subscription rate,” he said. “We must ensure that the content on Thailand Platform is of high quality that is constantly updated to keep audiences interested.”
Tharaphut Jaruwatthana, president of Media Agency Association, added that most OTT (over-the-top) platforms in Thailand have generated about 2 billion baht in advertising revenue scattered across several services.
“If we can combine these media into one centralised platform, then they can potentially generate up to 100 billion baht in advertising revenue yearly,” he said.
‘Thailand Platform’ necessary to woo Thais back from foreign digital offerings
Meanwhile, Chaichana Mittraphan, president of ETDA, said that Thailand having its own digital platform will make the handling of regulations and complaints easier.
‘Thailand Platform’ necessary to woo Thais back from foreign digital offerings
“More than 40,000 complaints are filed every year concerning digital platforms, but the ETDA cannot tackle all of them because most of these platforms do not have an office in Thailand and hence do not fall under Thai law,” he said. “ETDA is drafting a law to regulate all digital platforms available in Thailand, regardless of their country of origin, to ensure a fair competition between service providers.”
‘Thailand Platform’ necessary to woo Thais back from foreign digital offerings
Lastly, DGA director Suphoj Thianwut said the agency has launched a mobile application “Tang Rat” (The State’s Path) as a portal for all government digital services to serve people’s needs in the new normal.
“Private entrepreneurs are welcome to join Tang Rat to integrate their services with those of government,” he said. “The DGA supports the idea of building a ‘Thailand Platform’ and believes the government must remove regulations that obstruct the private sector from joining the platform.
“The ‘Thailand Platform’ cannot be built alone by a single agency. It will require cooperation from all related public and private organisations who can pool their resources and expertise in respective fields to make the platform a reality,” he added.
Thailand has achieved the lowest multidimensional poverty score in ASEAN
Bangkok, 11 October 2021 – 70 countries revealed significant reduction in multiple dimensions of poverty and Thailand has the lowest multidimensional poverty level in ASEAN, yet existing systemic vulnerabilities are exposed by COVID-19, according to UNDP’s new analysis.
The Multidimensional Poverty Index (MPI), released by the United Nations Development Programme (UNDP) and the Oxford Poverty and Human Development Initiative (OPHI), is a measure that looks beyond income to include 10 indicators that capture the education, health, and standard of living dimensions, where a lower score implies a lower poverty ranking.
The 2021 MPI covers 109 developing countries, which are home to 5.9 billion people. The report shows that 70 countries studied, covering roughly 5 billion people, experienced a statistically significant reduction in their multidimensional poverty levels at least one period during the two decades before the COVID-19.
According to the report, Thailand’s multidimensional poverty index is 0.002, the lowest among the Association of Southeast Asian Nations (ASEAN) countries that are included in the study, such as Myanmar (0.176), Cambodia (0.170), Lao People’s Democratic Republic (0.108), Philippines (0.024), Viet Nam (0.019), and Indonesia (0.014). Thailand’s score is also lower than that of the East Asia and the Pacific (0.023) region. Nevertheless,1.3 billion people—about 92 percent of the population in developing countries—remain multidimensionally poor.
COVID-19 and multidimensional poverty around the world
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While complete data on COVID-19’s impacts on the MPI are not yet available, the pandemic has exposed cracks in social protections systems, education, and workers’ vulnerability around the world. These cracks, the report shows, are deepest in countries with higher levels of multidimensional poverty.
The severity of the COVID-19 crisis in the world’s poorest countries has been underestimated because limited direct mortality has kept them outside the international spotlight. Analysis shows that people in the poorest countries are being impacted in far reaching ways with consequences that remain to be seen. “The COVID-19 pandemic has eroded development progress around the world, and we are still grappling to understand its full impacts,” says Achim Steiner, UNDP Administrator. “This year’s Multidimensional Poverty Index (MPI) reminds us of the need for a complete picture of how people are being affected by poverty, who they are and where they live, if we are to build forward better from this crisis and design effective responses that leave no one behind.”
This year’s report shines light on how poverty is exacerbated by existing inequalities, for example, across ethnic groups and among women. Analyses of multidimensional poverty and ethnicity are vital. Disparities across ethnic and racial groups should be prioritized by policy makers to achieve fair inclusive development post COVID-19.
Thailand’s MPI had improved before COVID-19. The current MPI score of 0.002 is based on the 2019 survey, while in 2015/2016 and 2012, the index was 0.003 and 0.005 respectively. From the latest survey, 176 thousand people moved out of poverty because of better access to basic infrastructure such as sanitation, drinking water, electricity, and housing. Nevertheless, access to education, especially years of schooling, as well as access to nutrition remain major sources of deprivation. These aspects require particular attention, as the pandemic has hit the most vulnerable population the hardest.
Adopting a multidimensional approach to poverty analysis highlights the importance of looking at poverty beyond income. Thailand’s incidence of multidimensional poverty is 0.5 percentage points higher than the incidence of monetary poverty, implying that individuals, despite living above the monetary poverty line, may still suffer deprivations in health, education and/or standard of living.
Addressing multidimensional poverty is challenging, as the pathway to ending such poverty is not always linear and the changes in different dimensions vary across periods. There is no one-size-fits-all approach. Mixtures of approaches, beyond those for improving income, must be explored and implemented to ensure fair and inclusive development. Further, detailed antipoverty policies and actionable guide have to be more targeted to address differences in intensity and composition of the poverty. This is the time for reshaping policies and rethinking development pathways for a fair, equitable recovery post COVID-19.
UNICEF and Department of Mental Health caution on World Mental Health Day
BANGKOK October 8, 2021 – Marking the World Mental Health Day on 10 October, UNICEF and Department of Mental Health (DMH) expressed concerns over the continued negative impact of COVID-19 on children and young people’s mental health in Thailand as significant numbers of adolescents face stress, anxiety and depression.
A recent mental health assessment among adolescents in Thailand found that 28 per cent of adolescents experience high levels of stress, while 32 per cent are at risk of depression and 22 per cent are at risk of committing suicide, according to DMH’s Mental Health Check-in, an online mental health evaluation platform which collected data from 183,974 adolescents during the 18-month of COVID-19 pandemic from 1 January 2020 – 30 September 2021.
In a separate UNICEF-led survey last year, 7 in 10 children and young people reported poorer mental health due to the impact of COVID-19 on their lives. Most of them were concerned about family household incomes, their studies, and future education and employment.
“Increasing numbers of children and adolescents in Thailand and around the world are facing mental health conditions and disorders, and we believe this is just the tip of the iceberg,” said Kyungsun Kim, UNICEF Representative for Thailand. “Although the impact of poor mental health among children and young people is significant with the potential to result in lifelong consequences, mental health remains largely neglected and under-estimated, often times even hidden due to the stigma and shame surrounding the issue. This is something all of us must address, to destigmatize mental health conditions, encourage conversation around it, and make services and support easily available for those who need it.”
Earlier this week, UNICEF released a global flagship report The State of the World’s Children 2021; On My Mind: promoting, protecting and caring for children’s mental health which points out that at least 1 in 7 children around the world has been directly affected by lockdowns, while more than 1.6 billion children have suffered some loss of education. The report also warns that children and young people could suffer from the impact of COVID-19 on their mental health and well-being for many years to come.
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Even before the pandemic, children and young people have carried the burden of mental health conditions without significant investment in addressing them, the report added. According to the latest available estimates, more than 1 in 7 adolescents aged 10–19 is estimated to live with a diagnosed mental disorder globally. Almost 46,000 adolescents die from suicide each year, among the top five causes of death for their age group.
In Thailand, suicide is the leading cause of death among adolescents. In 2019, about 800 adolescents and young people aged 10-29 years old committed suicide, according to DMH. The 2019 data from the DMH’s Child and Adolescent Mental Health Rajanagarindra Institute (CAMRI) also shows that more than 10,000 children aged 10-19 called to seek mental health support via Hotline 1323, with top three issues reported during the calls being related to stress and anxiety, romantic relationship, and depression.
COVID-19 pandemic continues to drive poor mental health among children and young people
Dr. Amporn Benjapolpitak, Director-General of DMH, said the pandemic has significantly affected children, young people and parents. For children who are not adjusting to the new learning environment, their education and development may be affected in the long run. Many parents are not able to balance work and taking care of their children. COVID-19 restrictions, including physical distancing and fewer outdoor activities, have not only affected family bonds but also caused stress among children. Many have become less sociable and more addicted to devices. This also leads to more incidences of family conflicts and domestic violence, resulting in mental health challenges or even suicide. DMH is working with related agencies and UNICEF to monitor children and young people’s mental health more closely.
A lack of knowledge and awareness on mental health, associated stigma and a lack of mental health resources and funding are preventing too many children and adolescents from experiencing positive mental health or accessing the support and services they need. According to CAMRI, Thailand has only 200 psychiatrists specialized on children and adolescent mental health for 15 million adolescent population.
UNICEF and DMH are working with partners to promote access to quality and timely mental health support and services for children and young people. The partnership also aims to break the silence surrounding mental health conditions through encouraging dialogue, addressing stigma, and promoting better understanding of mental health among children and adolescents, parents and society as a whole.
In 2020, UNICEF, DMH and JOOX Thailand implemented The Sound of Happiness campaign to encourage children and adolescents to speak up about their mental health and well-being and seek support. Through podcasts and songs, the campaign aimed at addressing negative perceptions around mental health and encouraging young people to talk about mental health challenges with their friends and family or someone they trust.
“UNICEF is committed to working with DMH, the education authorities, and other partners to ensure that children are growing and learning in a safe, loving and protective environment that supports their mental well-being. We want to make sure that children and adolescents can always access friendly, timely and quality professional mental health services whenever they need them.” Kim added.
Small startups bring innovations that change the world and serve as a mechanism to drive the economy now and in the future.
Discussion on startups and post-Covid business world
Small startups bring innovations that change the world and serve as a mechanism to drive the economy now and in the future. How does a business survive and become successful during this Covid-19 era?
PDI’s shareholders greenlight moving forward with hospitality business by increasing ownership in Four Seasons Hotel Bangkok and Capella Bangkok to 100%, divesting the remaining solar energy business, and announcing a plan to rebrand to “Bound and Beyond” (BEYOND)
At Padaeng Industry Public Company Limited (PDI)’s Extraordinary General Meeting (EGM) No. 2/2021 on September 23, 2021, shareholders approved the additional acquisition of 49% of the investment in the Four Seasons Hotel Bangkok and Capella Bangkok, the disposition of the solar energy business in Japan, and the change of the Company name from Padaeng Industry Public Company Limited to “Bound and Beyond Public Company Limited” with a new trading symbol of “BEYOND” in order to craft a new transformative image that is consistent with the company’s latest corporate strategy.
Four Season Hotel Bangkok
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Mr. Tommy Taechaubol, Managing Director, stated on behalf of the Board of Directors and managements, “I would like to express gratitude to fellow shareholders for their support in approving all agenda items and embracing the Company’s transformative vision and bold direction, particularly the additional acquisition of 49% in Urban Resort Hotel Company Limited (URH) and Waterfront Company Limited (WFH) from Landmark Holdings Company Limited (LH) to own 100% in one of Bangkok’s most prestigious luxury hotels, Four Seasons Hotel Bangkok and Capella Bangkok. These are brand-new ultra-luxury hotels situated along the Chao Phraya River with stunning facilities and managed by world-renowned hotel management companies, Four Seasons and Capella, and have received several accolades from reputable organizations. In the recent Travel + Leisure 2021 World’s Best Awards, Capella Bangkok was named the world’s fourth best hotel”
Capella Hotel Bangkok
Additionally, shareholders have approved the Company’s name change to “Bound and Beyond Public Company Limited” with a new trading symbol of “BEYOND” to reflect the Company’s imminent business strategies and innovative direction, as well as the Company’s goal of becoming a leading international hotel owner and manager.
“This is a significant milestone in the Company’s transition from commodity and energy business to hotel operator under the new name “BEYOND”, which started off with a significant successful investment in the Four Seasons Hotel Bangkok and Capella Bangkok that paves the way for the Company to become one of the leading hospitality players in Thailand. BEYOND also plans to launch a new flagship hotel under its own brand and management in the near future with a strategic prime location in the CBD area on Sathorn road, the investment cost is estimated to be around THB 1,500 million. Thailand’s tourism and hotel industries are significant part driving Thailand’s economy and are well recognized by international travelers worldwide. The Company believes this is a once-in-a-generation opportunity for a strategic acquisition at a discount value. With travel activities also showing signs of improvement, led by domestic travel, the Company believes that the tourism and hospitality industries will experience rapid growth once the current crisis has fully recovered” Mr. Taechaubol added.
Shareholders also approved the disposition of PDI Energy Company Limited (PDIE) to BAFS Clean Energy Corporation Limited (BC), a subsidiary of Bangkok Aviation Fuel Services Public Company Limited (BAFS), for approximately THB 768 million. PDIE owns the investment in two Japan solar energy plants with a combined capacity of 13 Megawatts. On March 1, 2021, the Company sold all solar energy plants in Thailand with a capacity of 36.4 Megawatts to BC, receiving THB 1,704.67 million. The proceeds from the sale of Japan’s solar energy plants are planned to redeem the existing debenture that is approaching its maturity and to fund future hotel investments.
KBTG unveils KASIKORN X and its mission to innovate in the world of DeFi and beyond
Thai Startup “Fourgle” Secures Seed Funding, will Launch at Year’s End
‘Thailand Platform’ necessary to woo Thais back from foreign digital offerings
‘Thailand Platform’ necessary to woo Thais back from foreign digital offerings
‘Thailand Platform’ necessary to woo Thais back from foreign digital offerings
‘Thailand Platform’ necessary to woo Thais back from foreign digital offerings
‘Thailand Platform’ necessary to woo Thais back from foreign digital offerings
‘Thailand Platform’ necessary to woo Thais back from foreign digital offerings
COVID-19 pandemic continues to drive poor mental health among children and young people
Four Season Hotel Bangkok
Capella Hotel Bangkok
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