SCB to collaborate with NIA to launch intensive training course for local tech companies, laying out strong digital network to create successful business ecosystem for SMEs

Stocks and Financial Services Press Releases Tuesday September 10, 2019 13:25
Bangkok--10 Sep--The Thai Commercial Bank

In a bid to boost Thai SME capabilities, SCB has collaborated with the National Innovation Agency (NIA) to launch an "NIA-SCB Innovation-Based Enterprise (IBE)" course. This intensive training course has been designed to offer strong entrepreneurship knowledge to strengthen business and marketing skills needed for business expansion. It is will also serve to build strong business networks offering access to digital technology and support SMEs from various industries. It is hoped that the course will help both Thai SMEs and digital platform developers in moving forward and win together in their businesses.

Speaking about the new course, Siam Commercial Bank Senior Executive Vice President & Chief SME Banking Officer Mrs. Pikun Srimahunt said, "SCB has adopted a policy of embracing digital technology to revamp its operational procedures bank-wide and to deliver appropriate technology to develop the working processes of our SME clients. Having closely engaged with tech companies showing strong potential has allowed the Bank to understand the context of both technology development and constraints, particularly in marketing and business expansion. Realizing an opportunity to fill in this development gap, SCB has collaborated with the National Innovation Agency (NIA) to organize a "NIA-SCB Innovation-Based Enterprise (IBE)" training course, focusing on strengthening entrepreneurship knowledge for companies already excelling in technology. The course will help enhance marketing and business concepts and experiences to ensure that tech companies can offer and develop technology that can better fulfil business requirements. Participants will receive useful tips from experts regarding the preparation of financial structures to attract investors, which is critical to sustainable business growth."

In addition, we are also seeking to build business partnerships in the field of technology, which is very important for strengthening the efficiency of SME business operations in the current business environment. With SCB's commitment to delivering platforms supporting business growth for customers in all segments, course participants will have opportunities for business matching sessions with SCB's SME clients from other industries. This will allow them to propose and develop technology to meet requirements for various operational procedures that will help increase sales and lower costs for SMEs. The activities will help expand the customer base, leading to mutual business success and winning.

National Innovation Agency Deputy Executive Director, Dr. Krithpaka Boonfueng said, "The Thai business ecosystem has witnessed dramatic growth, attracting more investment in Thai startups from both local and foreign investors. During the early stages, startups can acquire investment fund sources for their Thai-registered companies. When a company enters the growth stage, they can opt to reorganize company structures by setting up a new legal entity abroad. In the future, more foreign investors will invest in Thai companies, as both the government and private sectors have attempted to amend business partnership laws to meet international standards."

With the Thailand 4.0 policy, NIA has established the NIA Academy, an institute specializing in innovation management to raise Thailand's innovation capabilities to meet international standards. This collaboration with SCB will help fill in the missing pieces for Thai startups to help them better identify the real business requirements of business firms, to obtain business knowledge and views, and to discover funding sources in various forms, such as open innovation projects, zero interest innovation projects, and NIA ventures. These projects are designed to accommodate startups by carefully considering the nature of business, which should be favorable for exponential growth. NIA also cooperates with other countries to encourage startups in creating intellectual property, both in Thailand and abroad, and to promote business growth with market innovations in foreign markets.

The "NIA-SCB Innovation-Based Enterprise (IBE)" course will focus on business matching, testing grounds, and acquiring business partnerships to better equip and instill business tactics for tech companies in the growth stage to ready them for competition and growth. SCB is ready to promote these business groups for exponential grow through four components, comprising A-academic knowledge, B-banking products and services, C-connections, and D-digital solutions. The course will take 26 weeks and participation is limited to 30 companies.

SCB has collaborated with the National Innovation Agency (NIA) to launch an "NIA-SCB Innovation-Based Enterprise (IBE)" course. This intensive training course is designed to offer strong entrepreneurship knowledge to strengthen business and marketing skills needed for business expansion. It also serves to build strong business networks offering access to digital technology and support SMEs from various industries. The course introduction lead by Pikun Srimahunt, Senior Executive Vice President & Chief SME Banking Officer of Siam Commercial Bank and Dr. Krithpaka Boonfueng, Deputy Executive Director National Innovation Agency.


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