Bangkok, Thailand, December 23, 2021- Delta Electronics (Thailand) PCL. and the Department of Industrial Promotion (DIP) hosted a pre-launch kickoff ceremony for the 2022 Angel Fund participant teams at the Berkeley Hotel in Bangkok. This year, Delta Thailand will offer up to four million baht in funding to winning teams and work with the DIP, under the Ministry of Industry, and partners to support local innovation development.
Mr. Passakorn Chairat, Deputy Director-General of the Department of Industrial Promotion, and Mr. Yongyuth Pakdoungjan, Delta Senior Director of Government and Public Affairs Department, welcomed 46 teams, selected from over 130 applicants, to the kickoff event. The DIP and Delta management introduced the fund's background and the 2022 Angel Fund competition that includes training workshops, a business boot camp, hackathon and activities to link the local entrepreneurs with funding sources and business mentors.
Speaking at the event, Mr. Passakorn said. "The DIP's main mission is to promote, support, and develop Thailand's small and medium enterprises (SMEs) and community enterprises. We support entrepreneurs at all levels to better compete in the global market by leveraging innovation or Industry 4.0 knowledge, along with creativity and the latest technology. Nowadays, we see startup entrepreneurs playing a very important role in helping to drive the country's economy and long-term sustainability."
Since 2016, Delta has worked with the DIP at the Ministry of Industry to foster entrepreneurs and startup talent in Thailand. The Delta Angel Fund for Startups aims to encourage young Thai entrepreneurs to establish business models that leverage advanced technology and develop useful products for commercial use.
Over the last seven years, Delta and the DIP have developed the Angel Fund into a robust platform to create opportunities and business value by fostering innovation and expertise among local startups in smart industrial and energy-related applications that align with Delta's sustainable development growth model. Angel Fund teams benefit each year from the expert training and access funding to expand their business or develop products for commercialization.
2. Agriculture and biotechnology
4. Integrated medicine
5. Intelligent electronics
The competing teams will join a seven-day business boot camp to enhance their knowledge and foster an entrepreneurial spirit. Business boot camp courses include:
• Business Model Blueprint
• Value Proposition Canvas
• Revenue Model
• Financial Feasibility Canvas
• Market Validation
• Perfect Your Pitch
In addition, teams will get intensive training in problem-solving skills during a three-day hackathon before presenting their business models to industry sponsors for funding at the Pitching Day event. Additional competition announcements will be in an upcoming grand opening ceremony scheduled for early 2022.