The Stock Exchange of Thailand (SET) has revealed that it is partnering with Microsoft to set up a Virtual Pitching platform. According to a report by the Bangkok Post, the platform will serve as Thailand’s first-ever startup information center open to the general public.
Pongpiti Ektheinchai, Managing Director of Live Fin Corp Co, revealed that 36 startups have submitted their project profiles and investment data for the platform. In total, 100 startups are expected to join the platform by the end of 2019.
Live Fin Corp Co is a subsidiary of the SET that provides a blockchain-enabled trading platform, as well as carries out crowdfunding initiatives.
Pongpiti disclosed that the company is introducing this new platform powered by blockchain technology with the goal of speeding up the process of fundraising for startups.
He explained that a startup generally needs to factor in 14 to 18 months for fundraising, allowing time to attract investors and for them to seek more information about the business. During this time, the Virtual Pitching platform will help all stakeholders in this process stay connected.
Meanwhile, Manpong Senanarong, SET Senior Executive Vice-President, revealed that the steps for startups to submit information for release on the platform is simple, as the SET merely requires that the companies first register with the Ministry of Commerce’s Department of Business Development.
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