Medical start-ups to get growth injection

Tech July 28, 2018 13:24

By Asina Pornwasin
The Nation weekend

5,841 Viewed

With the aim of making Thailand an Asian medical hub, the Thailand Centre of Excellence for Life Sciences (TCELS) is boosting start-ups in the medical and healthcare industry through its annual Life Sciences and MedTech Acceleration programme.

In 2018, TCELS joined hands with MassChallenge, an expert in grooming start-up entrepreneurs and a business strategy consultant, to conduct “Thailand Life Science Start-up 2018”.

The project began last April with an application process. Forty-two start-up teams were shortlisted and 20 teams joined the training and business capacity development. The 10 highest-scoring teams were each given seed funding of Bt200,000. The top seven teams received in-depth training for international market expansion from MassChallenge.

The seven teams were ACNOC, D&N, KINN, Never Ever, Scubie, Step Sole Lution, and The Possible while the other three teams were Med-Asa, Mee Poom Dee, and Mud-Mue-Chok.

Never Ever is a bed monitoring and alarming system, while ACNOC is a Thai brand offering a full range of skincare complex for acne. ACNOC products are made after extensive research with the best ingredients from exotic fruits to help skin care.

Patcharaporn Wongsa, the acting director of Industrial Strategy and Investment at TCELS, said that Thailand Life Sciences Start-up would be another platform to incubate start-ups. 

TCELS initiated the project in 2017, beginning with the “Mini Life Sciences Mentorship Programme”, in which a great number of start-ups took part. 

The platform has been expanded to the “TCELS Life Sciences and MedTech Acceleration Programme” in cooperation with the business and financial sector to incubate, develop systems and invest in start-up companies so as to encourage early and middle stage to market expansion. 

Brittany McDonough, the director of Global Partnerships MassChallenge, said that joining Thailand Life Sciences Start-up 2018 is a crucial part of the project process to find bioscience start-up entrepreneur teams with potential to participate in the project and support a non-commitment seed fund.