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NIA Launches ‘Investor Courses’ to Cultivate a New Generation of Investors and Strengthen Thailand’s Startup Ecosystem

NIA Launches ‘Investor Courses’ to Cultivate a New Generation

of Investors and Strengthen Thailand’s Startup Ecosystem

The National Innovation Agency (Public Organization) or NIA is proud to present its exclusive “Investor Courses.” Specifically designed for aspiring investors, this program is a golden opportunity to gain essential knowledge, build valuable networks, and drive exponential growth in Thai startup investments. 

Why the “Investor Courses”? Because We Want to Make Startup Investing Easier! 

NIA recognizes that a robust startup ecosystem is built on the foundation of strong investors. A key pillar of this foundation is a new generation of investors, or Angel Investors. This course was created with a clear and ambitious vision: 

  • Cultivate a New Generation of Investors: We want to see more ambitious young people enter the world of startup investment with the right knowledge and skills to become successful angel investors. 
  • Prepare Startups for Investment: The course isn’t just for investors. Startups will also gain valuable insight into what investors look for, helping them prepare for funding rounds. 
  • Forge Strong Investor Networks: For new investors, having a strong network is crucial for exchanging information and finding new opportunities to help startups scale and uncover promising ventures. 
  • Ignite Increased Investment: With a new wave of prepared investors, more capital will flow into the startup ecosystem, helping innovative businesses expand and attract further funding from venture capitalists and other firms. 
  • Strengthen Thailand’s Startup Ecosystem: The ultimate goal is to lay a solid foundation that ensures the sustainable, long-term growth of Thai startups. 

In-Depth Content: Everything You Need to Know About Startup Investment 

The “Investor Courses” are a comprehensive online program available on the MOOCs NIA Academy website, allowing you to learn anytime, anywhere. With over 16 hours of intensive content from leading experts in the startup world, the course covers everything you need to know about investing. The curriculum is divided into seven core modules: 

  • Introduction to Startup and Angel Investment: A deep dive into the world of startups and the crucial role of angel investors. 
  • Investment Instruments: Learn about various investment tools and structures, such as Convertible Notes, and how to use them effectively. 
  • Due Diligence: Master the process of thoroughly vetting a startup, along with essential risk management techniques. 
  • Valuation: The heart of investing! Learn how to value startups, which is a different process from valuing traditional companies. 
  • Term Sheet: A close look at this critical document, helping you understand its components and conditions to protect your interests. 
  • Exit Strategy: Prepare for your investment’s future by learning about different exit strategies to ensure the best possible return. 
  • Thai Startup Ecosystem: Gain a comprehensive understanding of Thailand’s startup landscape from both government and private sector perspectives. 

After completing the course, you’ll take a 50-question essay test in 25 minutes. If you score over 70%, you’ll receive a Certificate. More importantly, you’ll have the opportunity to be added to the NIA Investor List—an exclusive list that connects you with high-potential startups. 

 

The Force Behind Success: A Team of Quality Experts and Strong Partners 

This exceptional program is a result of collaboration between the National Innovation Agency (NIA) and key public and private organizations that are vital to Thailand’s startup ecosystem. Every partner and expert are a true leader in their field. 

 

Who Should Not Miss This? 

This course is open to anyone passionate about investing in innovation, including: 

  • General Startups: Who wants to understand the investor’s perspective. 
  • Startup Thailand League Students: Who are building their dream businesses. 
  • Corporations: Who are looking for investment or collaboration opportunities with startups. 
  • Venture Capital (VC) Networks: Who wants to enhance their knowledge and network. 
  • The General Public: Who are interested in starting their investment journey in startups. 

 

Meet the Masterful Lecturers! Gaining Real-World Experience That’s Hard to Find! 

The true value of the “Investor Courses” lies in our team of lecturers. Each speaker has extensive, hands-on experience in Thailand’s startup and venture capital industries. They are ready to share their knowledge and insights without reservation, including: 

  • Dr. Warin Rachananusorn, Digital Economy Promotion Agency (depa) 
  • Dr. Tharitt Nimmanwudtipong, True Digital Park 
  • Oranuch Lerdsuwankij, Techsauce 
  • Kampanart Wilanot, KASIKORN X Venture Capital CO., LTD 
  • Pongsarnipa Kamolnavin, KASIKORN X Venture Capital CO., LTD 
  • Tanawat Boonpanya, Krungsri Finnovate 
  • Pitchaya Charoenyos, Krungsri Finnovate 
  • Thanachat Tangsriwong, CyberAgent Capital 
  • Ted Posakritsana Thirapat, Graphene Creations Co., Ltd. 
  • Dr. Ponchitt Kittipanya-ngam, ZTRUS 
  • Sarun Sutantiworakul, NVest Venture 
  • Parada Subpraserth, 500 TukTuks 
  • Pawoot Pongvitayapanu, Pay Solutions, TARAD.com 
  • Rungsun Promprasit, QUEQ (Thailand) Co., Ltd. 
  • Ratchawut Pichayapan, Fixzy 
  • Tanawich Tonkanya, Horganice 
  • and Pornpicha Phetkaewkul, National Innovation Agency (Public Organization) (NIA) 

This is your chance to learn from the best in business! Let’s work together to make Thailand’s startup ecosystem even stronger. 

Ready to join us? Become a part of the future of Thai startup investment with the “Investor Courses.” 

For registration details, please visit: https://moocs.nia.or.th/course/investor-course 

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Breaking into the B2B Market: Lessons from Thai Startups on Succeeding with Large Corporations

Breaking into the B2B Market:

Lessons from Thai Startups on Succeeding with Large Corporations

In today’s business world, B2B (Business-to-Business), or selling products and services to large organizations, has become a key goal for startups. It promises a stable customer base and long-term revenue. But this path requires sharp strategies and a lot of patience. This article summarizes insights from the “B2B: How to Unlock Access to Corporate” session at SITE 2025, featuring three startup leaders who shared their secrets to success in the corporate market: Chonsorn Poovapanich, Residential Team Lead, ION Energy; Natthaphan Akrachirathorn, CEO & Co-Founder, System Stone; and Dr. Warodom Khamphaenchai, CEO & Co-Founder, Altotech Global. 

Know Yourself and Your Customer: The First Deal 

The first step in any B2B deal is a deep understanding of two things. Chonsorn from ION Energy emphasized that startups must know their product’s strengths and truly grasp the customer’s pain points. This allows them to offer a precise solution that positions them as a partner, not just a vendor. 

Natthaphan from System Stone recommends investing in an initial Proof of Concept (POC), even if it’s free. This proves to the client that you can deliver, and it’s an investment in building trust. Dr. Warodom from Altotech started his journey by leveraging relationships and credibility to secure his first deal. Once that first project was successful, he used it as a reference to expand to other organizations. In the B2B world, trust is a crucial currency. 

Penetration Techniques: Adapting to Corporate Structure and Culture 

Working with large corporations isn’t just about offering a modern solution; it’s about understanding their structure, culture, and the importance they place on branding and trust. 

Chonsorn gave the example of working with Sansiri, which required understanding everything from their organizational structure to their construction process. This allowed his team to design and adapt a solar cell solution that aligned with the company’s “Green Energy” direction and its overall sustainability goals. 

Natthaphan from System Stone added that if a company already has an existing system, you must show how your new solution will add value and be easier to use. An example he gave was changing a maintenance system from a computer-based platform to a mobile app, making it more convenient for users in the smartphone era. “Sometimes, clients aren’t resistant to new technology; they’re afraid it will disrupt their existing system. We have to prove we are here to enhance, not destroy.” – Natthaphan 

Challenges and Closing Deals: Be Patient and Flexible 

In the B2B world, a single deal can take months or even years. Natthaphan once negotiated a project that took two years because it required internal policy changes, such as installing Wi-Fi and allowing smartphones in the factory. 

For solutions with a high investment cost, starting with Proof of Concept (POC) is an excellent way to reduce resistance. Customers can test the solution and see real results before taking the data to senior management for a major decision. 

“Don’t rush to close a deal just to hit a quarterly target. Sometimes, starting with a small project builds more solid confidence.” – Natthaphan 

The Differentiating Factor: What Large Corporations Want 

Large organizations don’t just look for a solution that “works.” They prioritize differentiating values that can build a new brand image and reinforce their market leadership. 

Dr. Warodom from Altotech explained that many corporate clients want to be “the first” in their industry. This could mean being the first to achieve carbon neutrality or the first to use AI to manage energy in their buildings and factories. 

This trend shows that large companies don’t buy a solution just because it functions—they buy it because it makes them stand out from the competition and provides a story to tell both internally and to the public. 

Therefore, if a startup wants to penetrate the B2B market, offering a proposal that helps an organization become a “leader” or “the first” will significantly increase the chances of closing the deal. 

The B2B market can be full of challenges, from complex decision-making processes to long deal cycles. But startups can learn a lot from these seasoned entrepreneurs: truly understand your own strengths and your customer’s problems, build trust by proving your value, and be flexible enough to adapt your solution to the corporate context. 

Large companies aren’t just looking for a solution that works, they want a partner who can help create value and differentiation in the market. If a startup can present a solution that addresses both a corporation’s business needs and its brand image, it has a high chance of success on the B2B path. 

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Unlocking Global Potential: NIA’s Innovation Diplomacy at InnoEx 2025

Unlocking Global Potential: NIA’s

Innovation Diplomacy at InnoEx 2025  

It’s no easy feat for Thai startups to make their mark on the world stage. However, the National Innovation Agency (NIA) is paving the way with a robust “Innovation Diplomacy” strategy. A clear example is their leadership of a delegation of Thai startups to InnoEx 2025 in the Hong Kong Special Administrative Region of the People’s Republic of China. This event served as a crucial platform for entering the high-potential Greater Bay Area (GBA) market. 

NIA: From Supporter to Strategic Conductor 

At InnoEx 2025, the NIA shifted its role from simply providing funding to becoming a “Focal Conductor,” strategically linking all parts of the innovation ecosystem. Its goal was to accelerate the global growth of Thai startups. Under the main themes of “AI + Data Driven” and Smart City development, the NIA carefully selected six outstanding “Impact Tech” startups to showcase their innovations. 

This evolution in the NIA’s role is evident in its strategic collaborations with key Hong Kong organizations, including the Hong Kong Science and Technology Parks Corporation (HKSTP), Cyberport, and Brinc. The aim of these partnerships is to co-develop a “Soft Landing” program, which will facilitate the smooth entry of Thai startups into the GBA market and enhance their capacity for international expansion. 

Intriguingly, the delegation included a Japanese company, PEEL Lab, which reflects the NIA’s effort to build a “Team Thailand” that isn’t limited by nationality but is focused on the potential of the innovation itself. 

Diving into Thai Startups at InnoEx 2025 

The six startups selected by the NIA all presented innovations that align with global tech trends and have the potential to create a significant positive impact: 

  • GEPP Sa-Ard (Clean Up): A digital waste management platform that aims to solve waste issues and promote a circular economy in Thailand. By using a digital platform integrated with IoT technology, it helps businesses track and manage waste data efficiently. Presenting this solution in Hong Kong was a great opportunity to attract corporate clients and partners seeking to achieve their sustainability goals. 

     

Mr. Dome Boonyanurak, Co-Founder of GEPP Sa-Ard, shared, “Participating in InnoEx made us see a much bigger opportunity—not just the Thai market, but the entire GBA region, which has a high demand for environmental solutions. The challenge is adapting our business model to each country’s context, including regulations, culture, and consumer behavior. But what we gained in return is a much deeper network and a profound understanding of international markets.” 

  • Infuse Co., Ltd.: This company offers a Geographic Information System (GIS) for data management and spatial data analysis. Its solutions include digital mapping and applications for farmers. At InnoEx, with its focus on smart cities and data analytics, Infuse had the chance to expand into sectors that require complex spatial data management. 

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  • MUI Robotics: A leader in Sensory-AI or “electronic noses,” which use AI and sensors to detect and analyze odors. Its technology has diverse applications in the food, cosmetics, pharmaceutical, and environmental inspection industries. 

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  • PEEL Lab: A Japanese B2B startup that creates plant-based leather from agricultural waste, such as pineapple leaves. Its business model provides design and manufacturing services for alternative-material products to interested brands and organizations. 

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  • HAUPCAR: A smart mobility platform. This car-sharing platform aims to drive Thailand’s tourism industry by connecting tourists with vehicles from local communities to create sustainable income. 

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  • Nano Coating Tech: A deep-tech startup with roots in research from the National Nanotechnology Center (NANOTEC). The company developed a nano-silicon dioxide coating for solar panels that improves performance with its dust-repellent and self-cleaning properties. This innovation aligns with the sustainability tech trends, one of the main themes of InnoEx 2025. Presenting this technology in Hong Kong was an opportunity to access investors and the growing clean energy market. 

    Mr.Narin Chomcharoen, Chief Operation Officer of Nano Coating Tech, reflected, “The international experience taught us that global markets have different demands and are highly competitive. Our challenge is building credibility for our deep technology and finding the right partners to expand abroad. But showcasing our work at a world-class event like this opens doors to meeting numerous potential clients and investors, which is something we can’t easily find in Thailand.” 

Hong Kong: GBA Gateway and Sandbox for Startups 

Hong Kong isn’t just a “gateway” to the massive Greater Bay Area (GBA) market, with its population of over 87 million. It also serves as a reliable “sandbox” for Thai startups due to its international business environment, credible legal system, and ready infrastructure. 

The Hong Kong government offers significant incentives, such as non-dilutive funding and a business-friendly tax system, along with policies to attract talent like the Top Talent Pass Scheme. The NIA’s collaboration with local organizations like HKSTP, Cyberport, and Brinc to create “Soft Landing” and “Incubation Programs” effectively reduces complexity and obstacles, allowing Thai startups to safely and efficiently penetrate foreign markets. 

Key Takeaways and the Path Forward 

The success stories of Thai startups in Hong Kong, such as the Yindee App, highlight the importance of localization and building networks with local partners. Thai startups should focus on developing solutions that address global trends and have a clear positive impact (Impact Tech), as well as preparing with data and using AI in their business presentations. 

The NIA’s use of a multi-faceted approach to promote startups on the world stage—from short-term participation in events like InnoEx 2025 to long-term incubation programs like “Scaleup Impact! Thailand x Sweden”—reflects a portfolio approach that diversifies risk and increases opportunities for Thai startups to choose the best path for their business. 

The NIA’s participation in InnoEx 2025 is a significant milestone in building Thailand’s image as an “Innovation Nation” and opening new doors for Thai startups globally. 

What do you think is the next big step for Thailand to become a regional innovation hub? 

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Startup Warrior : MyCloudFulfillment นิธิ สัจจทิพวรรณ

Startup Warrior : MyCloudFulfillment นิธิ สัจจทิพวรรณ

จุดเริ่มต้นในการทำธุรกิจ อาจจะมีได้หลายทาง ทั้ง การเห็นโอกาส แรงบันดาลใจ แต่ Startup อย่าง MyCloudFulfillment เริ่มต้นมาจาก “คำดูถูก” เมฆ CEO MyCloudFulfillment เติบโตมากับคำดูถูก ทั้งจากครอบครัว คนรอบข้าง เพียงเพราะเป็นเด็กที่หัวไม่ดี เรียนไม่เก่ง ใช้ชีวิตไปวันๆ ติดเกม แต่คำพูดเปลี่ยนคนได้ “ เด็กคนนี้ เลี้ยงไปก็เปลืองข้าวสุก ” คำพูดเพียงประโยคเดียว ที่ทำให้เขา คิดที่จะทำอะไรเป็นของตัวเอง คิดที่จะพิสูจน์ ให้คนรอบข้างยอมรับ จนกลายมาเป็น MyCloudFulfillment ธุรกิจ Startup ที่เปลี่ยนแปลงการทำธุรกิจ Warehouse แบบเดิมๆ ให้มีมูลค่าที่สูงขึ้น จนทำให้เขาชนะการประกวด Startup Thailand 2017 Grand Pitching Challenge

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The Success Formula of Thai Startups: How They Survived Against All Odds

The Success Formula of Thai Startups:

How They Survived Against All Odds 

When most people think of a startup, they picture a vibrant group of young people with fresh ideas, ample funding, and groundbreaking technology, scaling their business exponentially. Only a small percentage of startups ever get to experience this glamorous picture. The path is often full of pitfalls, uncertainty, and obstacles of all kinds. 

At the “Startups: Tough, Resilient, and Enduring” panel at SITE 2025, three Thai founders shared their real stories of staying strong in the business world despite facing one crisis after another. They are: 

  • – QueQ: a queue management system for restaurants that expanded to include hospitals and public services. 
  • – Golfdigg: a golf booking application that turned a niche market into a global opportunity. 
  • – FoodStory: a POS system that helped Thai restaurants survive the transition to a digital era. 

 

The COVID-19 Test: “Staying Still” Meant “Dying” 

The COVID-19 pandemic became a crucial test for all three companies. 

  • – QueQ: When their revenue from restaurants came to a halt, the team pivoted to a queue management system for hospitals and government agencies, developing new solutions to meet society’s needs. 
  • – Golfdigg: The team was split into three groups: one to maintain the existing business, a second to generate new revenue, and a third to develop innovations that could expand on their existing business. This led to new services like E-Coupons, Cashless payments, and golf cart tracking to enhance the golf course experience and create future business opportunities. 
  • – FoodStory: The Mobile Ordering feature they had developed back in 2017 became relevant at just the right time, when the market needed it most, leading to explosive growth for the company. 

The Tough Road of a Startup 

QueQ: From Restaurants to Hospitals and the Government 

With lockdown measures bringing the restaurant queueing business to a standstill, the QueQ team didn’t waste any time. Instead, they made a smart pivot by developing queue management solutions for hospitals and government agencies. 

Expanding into new sectors not only helped the business survive but also opened the door to new markets with genuine demand. This also helped the team build resilience to handle future uncertainties. 

Golfdigg: Turning Niche into a Big Market 

Although Golfdigg appeared to be operating in a small market, their different perspective was that the “golf market” is integrated into both the sports and tourism industries, with a combined global value of over $30 billion. They chose a “do more” approach, contacting as many golf courses as possible, developing a product that truly met their needs, and allowing the first course to test it out rigorously. 

They tracked daily results for both on-time bookings and payment collection to build long-term trust and credibility. Their commitment and honesty became Golfdigg’s strengths, enabling them to grow even in a market most people overlooked. 

FoodStory: Building Customer Trust 

For FoodStory, becoming the “backbone of a restaurant’s system” wasn’t just about selling an innovation; it was about offering a system that was reliable. 

Even with tablet technology for managing restaurant systems from the beginning, customers were hesitant. They weren’t willing to risk using a system they weren’t sure was stable enough. 

Therefore, FoodStory had to prove itself thoroughly, not just technically, but also in terms of the team’s trustworthiness, accountability, and deep understanding of the restaurant business. When they integrated with a large organization of over 1,500 employees, the different expectations and culture forced the team to adapt, develop systematically, and focus even more on the business. 

“No matter how fast we develop a product, if the timing isn’t right, it won’t work.” 

All three companies agreed that the founder’s passion is the most important factor in keeping the team together. They all shared a common vision: that what they were doing had value and a positive impact on both business and society. Most importantly, it was about creating genuine value for their customers. 

What Makes a Business Survive? 

When asked for a single word to describe why their businesses have survived, here’s what they said: 

  • – QueQ: Impact – A business must create a genuinely positive impact on society. 
  • – Golfdigg: Goal – A clear goal keeps every decision on track. 
  • – FoodStory: Value – The value that customers receive and see in their daily lives. 

Key Lessons Every Startup Must Know 

  • – Never stop developing your product. You must always improve, even if no one is using it yet. 
  • – Don’t just wait for the right moment. If waiting is your only option, you might be too late. 
  • – Diversify your business. Don’t put all your eggs in one basket; a business needs an escape route. 
  • – The team must share the same vision. Not just the founder, but every team member must see the impact they are creating. 
  • – Don’t get stuck on one plan. Every plan can change if it doesn’t align with reality. 
  • – Innovate to always meet the needs of your customers and users. 

Anyone who wants to be an entrepreneur or is currently building a business should ask themselves every day: 

“What value is our business creating for people?” “Does what we are doing have a positive impact on society?” “Is our goal clear enough?” 

If you can’t answer these questions, your journey might not go far, and you might not survive and stand tall like these three “tough, resilient, and enduring” Thai startups. 

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Gateway to Asia: Hong Kong, Japan, South Korea—A New Chapter for Thai Startups

Gateway to Asia: Hong Kong, Japan, South Korea—A New Chapter for Thai Startups   

In a world where technology and opportunity shatter business borders, the starting point of a startup’s journey can be a game-changer. The Global Startup Hub: Gateway to Asia isn’t just an event; it’s a launchpad for Thai entrepreneurs. By bringing together key agencies from Hong Kong, Japan, and South Korea, this platform offers a powerful opportunity for real-world experience, serious support, and direct connections to Asia’s top startup players. 

Hong Kong: Your Next Big Move in Asia 

Thinking of expanding in Asia? Hong Kong is your answer. It’s a strategic entry point for global investors and, specifically, for Thai startups. The Hong Kong government is a dedicated partner, with agencies like Invest Hong Kong and the Hong Kong Economic and Trade Office in Bangkok ready to offer free, end-to-end support. They don’t just help with business; they foster connections across culture, education, and beyond. 

After the challenges of the pandemic, Hong Kong’s economy is on a tear, with a solid 2.5% GDP growth last year and continued expansion this year. Global trade and investment are surging, proving that the world still sees Hong Kong as a premier economic hub. And with its high-spending population and a love for premium goods, it’s a golden ticket for quality Thai products. 

The city’s startup scene is exploding. From 3,300 startups in 2020, that number has jumped to over 4,700, with a goal to hit 7,000 by 2030. FinTech, ICT, and e-commerce are leading the charge. A remarkable one-third of these companies are founded by foreigners, solidifying Hong Kong’s reputation as a regional hotspot for innovation. Plus, it’s the perfect stepping stone to the massive mainland China market. Hong Kong is a financial juggernaut with zero capital controls and a tax-free system, home to over 180 banks and 1,500 asset management firms. The government is also making it easier to set up Family Offices, with a goal of 200 by 2025, even offering tax exemptions. It’s also embracing the future, becoming a crypto-friendly hub with legally operating crypto exchanges. 

Here’s an interesting fact: while Hong Kong can’t grow its own food, its food and beverage sector is booming. With Hong Kongers preferring to dine out, the city has a staggering number of restaurants—on par with all of Thailand’s, despite its small size. This creates a huge demand for food supplies, innovative management systems, and sustainable packaging, making it a dream market for FoodTech startups. 

Looking for funding? Hong Kong is full of opportunities. Public and private accelerators like Cyberport (focused on FinTech and Web3.0) and Hong Kong Science Park (MedTech/HealthTech) are actively looking for talent, regardless of nationality. For more mature startups (Series A or B), Invest Hong Kong can make direct introductions to VCs and Family Offices. 

The city is a networking paradise, hosting major international events like Hong Kong FinTech Week and the Start Me Up Festival. This year, Invest Hong Kong celebrates its 10th anniversary with an even bigger event, featuring the Global Fast Track competition with a regional qualifying round in Thailand. This is your chance to shine on a global stage. With its vibrant ecosystem, deep capital pools, and diverse market, Hong Kong is more than just a financial center—it’s the perfect place for Thai businesses to truly go global. 

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Nurturing Thai startups to the regional stage: Lessons from supporting over 1,000 startups into Southeast Asia.

From Thailand to the Region :

Lessons from Fostering Over

1,000 Startups in Southeast Asia 

One of the highlights of the Global Stage at SITE 2025 was a fireside chat titled, “From Thailand to Regional: Lessons from Enabling 1,000+ Startups Across Southeast Asia,” featuring Thaddeus Koh, co-founder of e27, a leading platform that supports startups and the tech ecosystem in the region. 

For over 11 years, e27 has served as a “connector,” linking entrepreneurs, investors, and ecosystem partners. Its core mission revolves around two key areas: 

  • 1.Providing founders and startups with information and insights on what’s happening across the region. 
  • 2.Connecting various players within the ecosystem, whether it’s startups with customers and partners, or even with government agencies in different countries. 

Diversity is the Key to Understanding 

Thaddeus emphasized that expanding in Southeast Asia is not about using a “one-size-fits-all” approach. Even though the countries are in the same region, their cultures, regulations, consumer behaviors, and business practices are completely different. For example, in Singapore, software can be sold through online channels, but in Indonesia, a face-to-face meeting is often necessary to close a deal. Understanding the local context is therefore crucial for tailoring a strategy to each country. 

Don’t Just Seek Funding, Find Your Customers First 

Koh stated, “Whether you sell coffee or an AI platform, if you can’t find customers, you can’t move forward.” He stressed that a primary reason for startup failure during regional expansion is a lack of understanding of customers and the market. Many founders focus on raising capital, but revenue from customers is far more sustainable than funding. 

Don’t Rely Solely on VCs; Secure Revenue from Customers First 

In an era where fundraising is more challenging, investors have become more cautious and are looking for companies with real revenue. Thaddeus advised that not every company needs to rely on a venture capital firm. 

“VCs want a stake in your company, which comes with a complex and time-consuming process. But if you can generate revenue from customers, that is a much more stable long-term survival strategy,” he said. 

Leverage of Each Country’s Strengths to Build a Regional Team 

Thaddeus shared e27’s strategy of building a team with members from different Southeast Asian countries, highlighting each nation’s strengths: 

  • – Thailand: Ideal for development teams due to competitive salaries. 
  • – Singapore: Strong for sales and international network expansion. 
  • – Vietnam / Philippines: Offers high-quality talent at a competitive cost. 

Understanding the costs and potential of each location helps startups build their teams strategically. 

The Government is the “First Gateway” to International Markets 

Another key takeaway was the role of government as a “door opener” for Thai startups. 

  • – Governments have strong networks and can connect startups with key players in the ecosystem. 
  • – They provide these connections free of charge and have the influence to build trust and credibility. 

After this initial government support, startups can then build relationships with private sector entities, who may eventually become long-term customers or partners. 

The Long-Term Goal: A Unified Southeast Asian Market 

Thaddeus expressed his desire to see Southeast Asia become more like the “United States,” where despite having many states, a common legal framework allows companies to sell products or services across the entire country. 

“If we can connect Southeast Asia to function as a single market, companies from Japan or Korea will immediately see its immense potential,” he said. 

Thai Startups: Don’t Wait for Someone to Open the Door, Knock on It Yourself 

Expanding a business from Thailand to the region is challenging, but it is far from impossible. The most important things are to: 

  • – Know your customers. 
  • – Understand the market and its culture. 
  • – Fully utilize your existing network. 
  • – And most importantly, generate revenue before seeking funding. 

“In the startup world, there are no shortcuts. There is only the courage to start. Because if we don’t step out, we will never know what ‘door’ is waiting for us.” 

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