The Stock Exchange of Thailand (SET) has partnered with Microsoft to create the country’s first Virtual Pitching Platform, targeting small and medium-sized enterprises (SMEs), start-ups and social enterprises (SEs).
The platform represents an extension of Thailand’s Launchpad and Investment Vehicle for Enterprises (LiVE) initiative, which was rolled out in 2018.
The LiVE initiative is a blockchain-fuelled crowdfunding platform designed to provide funding to start-ups and SMEs in Thailand.
The LiVE initiative, however, has not been the success it was hoped it would be due to the lack of targeted funding provided to start-ups as investors did not have enough information.
This has prompted the development of the Virtual Pitching Platform, which has been designed to provide a platform to pitch business plans online to investors, enabling Thai entrepreneurs to grow globally.
Leveraging Microsoft Azure, the next phase of the project will provide investment knowledge for start-up investments from bloggers to enable investors to exchange views on start-up investment on web-boards.
Furthermore, SET also have plans to interface to large corporations for incubation support, connecting to the platform through APIs.
"These days an increasing number of investors are keen to invest in start-ups but with lack of necessary business information for decision making and understanding of possible risks,” said Manpong Senanarong, senior executive vice president of SET.
“SET therefore develops contents to help investors address the problems through additional services available on LiVE platform, with collaboration from Microsoft (Thailand) in developing the system."
The LiVE platform has been designed to enable start-ups, SMEs and SEs in accessing funding sources via four functions, namely, verifying the identity of start-ups in collaboration with alliances; promoting visibility for wider recognition; providing advice and enhancing knowledge; encouraging business matching.
“The presentation format will be similar to that of SET Digital Opportunity Day and Digital Roadshow whereby start-ups present information and business plan, and directly communicate with investors' inquiries, enabling investors to watch live or non-live presentation via Facebook,” said Senanarong.
“This newly created channel provides both Thai and foreign investors with access to local start-ups, SMEs and SEs."
Furthermore, SET has also collaborated with alliances from both public and private sectors to drive the start-up ecosystem, in accordance with the government policy to encourage start-ups to access capital funding and grow sustainably.
“We are confident that information disclosure and exchange can mitigate risks, and build confidence in investing in start-ups, as well as being joint ventures and long-term partnership,” added Senanarong.