SET encourages listed firms to join CVC club, to boost startups

Stocks and Financial Services Press Releases Wednesday October 11, 2017 17:35
Bangkok--11 Oct--SET

The Stock Exchange of Thailand (SET) invites listed companies seeking to setup corporate venture capital (CVC) to join the newly established "Listed Corporate Venture Capital Club", a network of Thai listed firms with an aim to share experience on startup investment. The Club will also act as a cluster for brainstorming and organizing activities to help grow startups.

SET President Kesara Manchusree said that "The number of startups in Thailand has increased tremendously during the past years. According to report of Thailand Tech Startup Association, the number of new startups increased by 8,000 in 2017, using innovations and technologies to create values for their products and services, catering to customer needs. Access to funding is therefore essential to accelerate their business growth. SET has invited listed firms that have currently invested in startups via CVC with approx. THB 15 billion (approx. USD 441.2 million) in total venture capital investments to join the club. The Club has been set up for networking, exchanging information and organizing activities to cultivate and accelerate startups via training, seminars, discussion on rules and regulations, among others. Listed firms seeking to set up venture capital (VC) can also apply for membership. This will be great opportunity for networking between startups and corporations to establish collaboration, enhancing the startup ecosystem in Thailand. The project reinforces SET's plan to further strengthen the Thai startups which will eventually help strengthen the economy."

This initiative is an addition to SET's new 'LIVE' platform, operated by SET's subsidiary called LIVE FIN Corp, Ltd., to facilitate startup entrepreneurs and small and medium-sized enterprises to access working capital, while allowing VC or CVC investors to trade. For more information and membership, please visit www.live-mkt.com or Facebook: LIVE Platform.


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