Sunday, August 25, 2019

Bluebik consultants invests in startups to develop digital expertise

Jul 12. 2019
Pochara Arayakarnkul, CEO of Bluebik Group Co Ltd
Pochara Arayakarnkul, CEO of Bluebik Group Co Ltd
Facebook Twitter

By THE NATION

887 Viewed

The Thai consulting firm Bluebik Group Co Ltd, said on Friday that it has a strategy to invest in startups that have the potential to grow internationally.

The firm, which has extensive experience and expertise in developing digital strategies, said the investment strategy would strengthen the company by providing insight into digital knowledge so that it could compete on an international scale

The move would pave the path for it to become the leading consulting firm in strategy development and programme management within 2020, according to a release from the company.

Currently, Bluebik Group has invested in six startups has plans to invest in another two within the next year.

Investment will be focused on the fields of the internet of things (IoT), artificial intelligence (AI), electric vehicles (EV) and fashion, which plays a key role in driving clients’ businesses.

The consulting firm has until now specialised in strategy development, programme management and digital transformation.

Pochara Arayakarnkul, CEO of Bluebik Group Co Ltd, said it pursuing a strategy to differentiate itself from other business consulting firms through digital knowledge enhancement. That would give it the capacity to leverage innovation and technology as well as exposure to new international ideas to elevate clients’ businesses, so as to be competitive in the digital world.

Bluebik Group aims to be the leader in strategy and implementation by the end of next year, Pochara said. In addition to providing consulting services, the company has also positioned itself as a partner of clients, and serve clients seeking a consultant that could enhance their competitiveness.

To achieve this leading position, the company must develop its strength in deep knowledge and understanding of digital disruption. Investing in startups with deep technology that leverage highly complex technologies and have the potential to grow internationally would allow Bluebik to obtain critical knowledge, especially in digital technology, which is a tool for business development across industries, Pochara said.

“Innovations are more often initiated by startups than traditional companies. Startups are more flexible and run by new-generation professionals who have a thorough grasp of technology. Born in the digital age, the people behind startups have a distinct advantage in developing innovations.

“Bluebik therefore, had the idea to gain advantages, as startups do. Thinking like and entering into partnerships with startups will allow Bluebik to deeply understand and learn about the adoption of technologies for clients’ businesses. “

Working with startup strategic partners that specialise in various fields, the consultancy would provide an overview of strategy management as well as in-depth knowledge for each operating process ranging through innovation, design, and the new global way of working such as “design thinking”, Pochara said.

The consultancy has so far invested in six startups, including Blue Parking, a smart parking service provider with an IoT-based automatic licence plate recognition system and Cloud system to optimise convenience for car drivers. Other investments are in Keeps, a fashion house designed for working people through omni-channel experiences; Oxygen, an AI leader in video analytics and conventional chatbots; Ingenio, a Big Data solution provider to enhance business capability; ETRAN, a producer of high-efficiency electric motorcycles and which is a startup under the Almond Digital Group subsidiary of Bluebik Group; and Cashnow, an innovative platform for digitising the lending application process.

Within 2020, Bluebik plans to invest in two more startups with an emphasis on key technology trends that are crucial to creating competitive advantages for clients by reducing costs and increasing business opportunities. The selected tech trends are internet of things (IoT), artificial intelligence (AI), electric vehicles (EV), big data and analytics, fintech, and retail tech.

Tags:
Facebook Twitter
More in Business
Editor’s Picks
Top News