Krungsri Finnovate has officially announced the 12 startup teams selected for the Finno Efra Accelerator program. After receiving hundreds of applications and holding intense Dungeon Pitch selection rounds, these 12 teams will now enter a rigorous 4-month Bootcamp. They will work closely with mentors and expert coaches, with the chance to receive up to 40 million baht in funding.
In this article, Techsauce will introduce the Finno Efra Accelerator program, its goals, and highlight the 12 startups that made it through.
What is the Finno Efra Accelerator?
The Finno Efra Accelerator is a program developed by Krungsri Finnovate in collaboration with EfraStructure to nurture early-stage startups, from Seed to Pre-series A, helping them grow into Series A-level companies.
According to Sam Tanskul, Managing Director of the Finno Efra Accelerator, the goal of the program is to strengthen Thailand’s startup ecosystem. Corporate Venture Capital (CVC) has been a major player supporting this ecosystem. However, the focus has primarily been on Series A and beyond, whereas in other countries, early-stage startups receive more backing. By nurturing early-stage startups, the ecosystem becomes more robust, enabling the rise of new, innovative companies.
Meet the 12 Teams in the Finno Efra Accelerator Program
Initially, only 10 teams were expected to pass, but Sam Tanskul and Pawoot Pongvitayapanu surprised everyone by announcing 2 additional teams. Here are the 12 startups that made it to the final program:
- Wang: Data Market – A platform connecting individuals with spare time to offer data and researchers who need it for AI development.
- PAM Real CDP – A customer data platform for marketers to personalize campaigns and automatically create customized experiences for customers.
- Spacely AI – A design platform using AI for architects globally.
- Graffity – Develops 3D maps and position identification using AI, five times more accurate than GPS.
- GOWAJEE – A Thai speech recognition company with an AI platform, GCI, for analyzing call center conversations in real-time.
- ThaiHand Massage – A platform enhancing the Thai spa and massage industry, improving booking and management for both customers and massage therapists.
- AIYA – A media platform powered by location-based technology that revolutionizes OOH advertising and enhances customer engagement with advanced O2O marketing.
- MUI-Robotics – An artificial senses platform enabling AI and robots to perceive touch, taste, smell, and sound, like humans.
- Vansales – A platform simplifying sales and distribution management, including real-time inventory control, customer visits, and order processing.
- Osseolabs – A digital surgery planning system and custom bone implants for orthopedics and facial surgeries using 3D printing and AI.
- Daywork – A platform for finding temporary workers within 24 hours using AI for quick and precise talent matching.
- JobsLab – Driving temporary employment for entry-level workers and premium employers in Thailand.
The Finno Efra Accelerator Bootcamp
Sam Tanskul, Managing Director of Krungsri Finnovate, shared, “Congratulations to all 12 teams who made it to the Finno Efra Accelerator. Over the next 4 months, these startups will participate in a Bootcamp focused on four key areas:”
- Mentorship: One-on-one mentoring from top tech leaders in Thailand.
- Business Classes: Learning the ins and outs of business from industry experts.
- Coaching: Access to over 100 specialized coaches for personalized guidance.
- VC Networking: Opportunities to connect with investors and corporations.
The program will be divided into two terms: October-November 2024 for Term 1, and January-February 2025 for Term 2, culminating in a Demo Day in March 2025. At the end of the 4-month journey, teams will have the opportunity to secure up to 40 million baht in funding if they meet the set KPIs.
For those who didn’t make it into the finalists this year, don’t lose heart—see you in the next batch!
Pawoot Pongvitayapanu, Chairman and Founder of EfraStructure, added, “The Finno Efra Accelerator is a key incubator for early-stage startups and a crucial step toward building a thriving entrepreneurial ecosystem. This program not only provides funding but also equips startups with the knowledge and support they need to scale their businesses. This effort could be a significant factor in driving economic growth and, who knows, we may even discover Thailand’s next Unicorn!”
