Delta earmarks 4mn to invest in startups
The electronics producer and distributor Delta Electronics (Thailand) Pcl (www.deltathailand.com) has continued a role of an angel by empowering the local entrepreneurs to validate the green innovation and technology with financial assistance.
The financial aid will provide to startups who keen on two business types under the government’s Thailand 4.0 policy; green solutions and advancing artificial intelligence (AI).
Delta will inject a total of four million baht into angel fund this year, director for Human Resources administration Yongyuth Pakdoungjan said recently.
Delta has joined hands with Thailand’s Industry Ministry to provide aids to the startups for four years in a row with an aim to boost the number of new tech startups. The company will, in turn, capitalise on startups’ innovative ideas and new technology.
“In the past three years, we set aside a budget to put into this fund of between 2-3 million baht a year to build the new startups. This year we put more money to ensure the higher number of startups to access our help.” Said Mr Yongyuth.
“Delta and the industry ministry work together to help a local startup which has the business idea, but they can’t access the capital to start their own business. We put our focus on the startups whose ideas can support the growth under the S-curve and Thailand 4.0’s 10 clusters strategy.” Mr Yongyuth added.
The company’s angel fund will provide the startups who are eligible to get the zero-interest charge fund at a maximum capital of 500,000 baht each.
The Industry Ministry will screen the applicants and announce the name of eligible startups by the end of May 2018. The one who wins the grant will receive the budget five days after the pitching date.
Delta’s president, Hsieh Shen-yen said the company focuses on three core businesses including an electronics and power components, automation system and the last one an energy and ICT infrastructure. These three businesses are not only under the global trend, but they are also in line with the Thai government’s S-Curve policy and Thailand 4.0.
“For example, the robotic one, we’re now developing the technology to serve our internal use at our manufacturing plant, but shortly we can capitalise our technology by producing robots to serve the market either domestic or the overseas.” Said Mr Hsieh.
Delta is an excellent example of the large corporations who know how to capitalise benefits from the development of startups in the country where they need the financial aids.
“We still have some projects we are planning to work closely with the government and the academics in Thailand apart from this angel fund for startup.” Noted Mr Hsieh.