PRESS RELEASE • 29 AUGUST 2018
Nest and Bangkok Bank return with another accelerator programme to help startups scale locally and internationally
Following the success of Bangkok Bank InnoHub in 2017, the first global FinTech accelerator in Thailand, Nest and Bangkok Bank announce today season 2 of the programme and are now accepting applications from around the world. This programme aims to help startups locally and internationally validate their solutions and scale their business, by developing innovative products and services suitable for the Thailand and Southeast Asia markets.
Thailand is quickly establishing itself as a global startup hub, and the first InnoHub programme was instrumental in highlighting some of Thailand’s own startup talent. FundRadars, a local startup, completed a successful proof-of-concept (POC) demonstration on the first programme, and is currently working with the bank’s subsidiary BBL Asset Management on a new mobile application. Since the programme, FundRadars has been scaling across ASEAN with multiple partnerships.
In InnoHub Season 2, Nest will continue to facilitate the development of local startups expanding globally while also providing international startups with regional insights to enter Thailand.
Nest will work closely with Bangkok Bank’s business units and the startups to ensure the solutions are a good match for the bank’s needs, resulting in quicker and more POCs.
Nest CEO Lawrence Morgan said “Nest is uniquely positioned to offer high-potential startups the opportunity to scale with its integration driven approach. We’re excited to bring our expertise on bridging ecosystems together, helping high growth startups to connect and collaborate with leading financial institutions to achieve commercial outcomes. Our mission is to help startups validate their solutions and scale their businesses and as we launch our new programme with Bangkok Bank, we are pushing corporate innovation to the next level.”
Bangkok Bank President Chartsiri Sophonpanich said that Season 2 under the theme Inspiring Change – Unleash the Potential reflects the bank’s intention to be a digital banking leader.
“We believe that encouraging world-class technology companies to build networks and partnerships in Thailand and across ASEAN will help to enhance Thailand’s broader financial ecosystem.
“This approach will help to drive an innovation mindset and strengthen internal working processes and culture between the bank and others in the ecosystem. We look forward to developing new initiatives through our direct engagement with the startups.”
In addition to receiving expert coaching from mentors and Nest, the startups will be able to work with other companies in the Bangkok Bank financial group, while tapping into the local knowledge of the bank’s international branch network. In some cases there will also be the opportunity to raise funding through the bank’s business networks.
Mr. Chartsiri says Bangkok Bank InnoHub reflects the bank’s focus on innovation and the future and the way it helps customers adapt to the uncertainties of a changing world.
Season 2 of Bangkok Bank InnoHub powered by Nest is a 12-week accelerator programme focusing on creating a unique customer experience for general and SME customers while transforming existing banking experience through digitalisation, automation, payments and cutting-edge technology. With numerous mentors from among Thai and international financial experts, startups will be able to leverage these interactions and resources to utilise Thailand as a test market for scaling their businesses. Bangkok Bank InnoHub is looking for leading technologies and startups both locally and globally to define the future of banking together.
For additional information on the program, please visit https://www.bangkokbankinnohub.com.
Connect · Collaborate · Scale
Nest operates corporate accelerator programmes, invests in seed to growth-stage startups, and runs an entrepreneurial community called Mettā. Nest has built an innovation ecosystem to connect the fast-growing markets of Asia, the Middle East, and Africa.
With a mission to empower great entrepreneurs to change the way we live, Nest provides access - for startups to scale and commercialise; and for corporates to foster innovation. Since 2015, over 140 startups have been accelerated via Nest’s corporate and government programmes across a broad range of industry sectors.
About Bangkok Bank
Bangkok Bank is one of Southeast Asia’s leading regional banks with total assets of USD 95 billion as of September 2018. Thailand’s market leader in corporate and business banking, it has an extensive retail customer base of more than 16 million customer accounts and a nationwide network of more than 1,100 branches.
Bangkok Bank’s international branch network covers 32 overseas locations in 15 economies, including 16 branches in nine ASEAN countries.