Kasikornbank (KBank) has launched its Katalyst project to elevate the abilities of Thai startups to grow their business in line with Kbank’s strategies, said president Kattiya Indaravijaya said yesterday.
The initiative aims for business co-creation via knowledge sharing, the provision of advice along with the support of Kbank’s various departments and partners.
Currently, more than 600 Thai startups have registered with the National Innovation Agency (NIA, a public organisation). In 2017, 31 startups received US$106.10 million (Bt3.35 billion) in venture capital investment, compared to 35 startups with $61.25 million (Bt1.933 billion) in venture capital investment in 2018. The trend shows a slowdown, attributed to the fact that the growth of Thai startups has failed to catch up with the market.
KBank hopes the project will help develop and strengthen the potential of Thai startups, enabling them to attract both domestic and international funding and propel them to the regional and global stages in the future, she said.