Close engagement with VCs give startups a better chance at success | Digital Asia
Southeast Asia’s most prominent VCs partner with True Digital Park to help startups in Thailand secure funding
Every year, Southeast Asia startups have pulled in more and more money. By the third quarter of 2017, tech companies in the region have pulled in over US$6 billion in disclosed funding and was on track to end at 500 deals.
While there are many ways for startups to raise capital, venture capital firms are instrumental in making sure that startups grow at an optimal pace. Through the VCs, startups have access to business and technical knowledge that would help them optimise their resources and thrive in a competitive market.
After all, who’s a better person for startups to seek advice from than an investor?
This is why Thailand’s True Digital Park is launching a new programme called VC Clinic, where they partner with Southeast Asia’s most prominent and experience Venture Capital firms to help the startups within True Digital Park grow and develop their business.
Also read: Building the next global innovation hub at the heart of southeast Asia
“It is currently difficult for Thailand startups to obtain funding, especially from regional VCs,” said Thanasorn Jaidee, President of True Digital Park, saying that participating in the VC Clinic would help startups get feedback from the VCs and help prepare them for fundraising.
The VC Clinic is also an opportunity for startups to get funded by the participating VCs. During the programme, the VCs will get the chance to get to know the founding team, evaluate the strengths of the startup, and identify areas in which they need to improve. If the participating startups make a positive impact, they might get the chance to not only get guidance from the VCs but also get financial backing.
More than just about fundraising
VC Clinic is more than just advice on fundraising; it also puts focus on other aspects of the business that founders may have overlooked or have no knowledge about.
Startups who have a close engagement with VCs have the opportunity to gain insight from the wealth of knowledge VCs have from their experience. After all, VCs see firsthand the inner workings of startups who have succeeded and failed and will be able to help guide startups into making the right decisions.
Also read: What Singapore entrepreneurs can learn from Thailand’s energised ecosystem
Startups who join VC Clinic will have access to 1-on-1 private consultation with VCs to discuss specific industry, market, and company level topics that startups need to grow their companies. There will also be events like workshops and talks led by subject matter experts that startups can gain insight from, as well as pitching opportunity at a demo day where startups will have boosted visibility for a chance to secure funding.
True Digital Park has partnered with the following startups for the VC Clinic:
● Gobi Partners
● Taurus Ventures
● Golden Gate Ventures
● Monk’s Hill Ventures
● Vynn Capital
While VC Clinic is exclusive to True Digital Park’s members, startups and entrepreneurs who are not members are also welcome to join and get advice from the VCs during open events.
Disclosure: This article is produced by Tech News content marketing team, sponsored by True Digital Park. For more information, please visit truedigitalpark.com
Featured image credit : moji1980 for 123rf
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