True launches 'Incube' for tech start-ups
True Corp yesterday kicked off "True Incube", its incubation programme for Thai tech start-up companies aimed at jump-starting their business, with the support of its global partners. True Corp plans to invest at least Bt250 million in each of the start-u
True Corp president and chief executive officer Supachai Chearavanont said the company expected about 200 applications for its programme, with about five to 10 companies becoming eligible for seed funding, based on their business models. From that number, True would choose a maximum of two companies for commercialisation – requiring another large investment.
True plans to invest between Bt500,000 and Bt1 million in those companies receiving the seed funding, while the two chosen for commercialisation will receive continuous investment from the corporation.
“It’s possible that Bt250 million might be not enough, so we plan to increase that amount if necessary,” Supachai said.
True is joining with global partners 500 Start-ups and Gobi Partners, and local partners – the Software Industry Promotion Agency (Sipa); Software Park Thailand; Microsoft (Thailand); LaunchPad; and Thumbsup – to drive the True Incube programme.
The organisation 500 Start-ups is present in 18 countries and territories.
True Incube programme managing director Punnamas Vichitkulwongsa said Thai tech start-up teams could apply to join the programme from now until the end of June by submitting their business proposals.
