LINE ScaleUp 2019 by LINE Thailand has organized the Demo Day event to promote the success of six startups who had made it to the final round to present their work to Thai and international investors as well as LINE Ventures. The startups demonstrated their potential using LINE’s digital infrastructure to develop their business with the goals to be at the forefront of the startup scene and Thailand’s first unicorn. All six startups are working with LINE to strengthen their commercial partnership, to enhance Thai Digital Economy’s growth.
Jayden Kang, Chief Strategy Officer of LINE Thailand, commented that “LINE ScaleUp was launched with a mission to promote and accelerate Thai startups’ development and growth to the fullest potential, giving them the opportunity to be a Unicorn startup. Demo Day was an important event where all six startups including Choco CRM, Claimdi, FINNOMENA, Gowabi, Seekster and Tellscore came to showcase their work and potential after intensive coaching from the LINE ScaleUp camp for four consecutive months. The startups joined in training, attended workshops, and visited a number of leading tech companies and Unicorn startups in South Korea to learn about business administration, utilization of advanced technology on the LINE platform, and efficient organizational management with a focus on the use of LINE’s digital infrastructure to fulfil their potential. Today, the six startups have grown and become more scalable, making LINE confident to foster collaboration with them”
LINE’s collaboration with the six startups consists of three parts, including Business Solution which offers Mini App on LINE for Seekster and Finnomena, allowing LINE users to access and use services of the two startups via LINE Chat, all in one place. The second part is Strategic Partnership that will soon allow LINE users to use services from Seekster on the LINE Man platform. Finnomena and Claimdi are now official partners of Thailand’s leading content platforms LINE Today and LINE TV which will help disseminate content, educate, and make the audience understand how to use the startups’ services in a sustainable manner. The third part is LINE API Integration for the 6 startups, particularly Choco CRM, Tellscore, and GOWABI who are now able to further develop their services with LINE API to allow users to use the services through LINE in more advanced and various forms. All of these collaborations are the opportunities that LINE have provided to the six startup teams with the goals to spread their reputation, grow their business and scale up to reach the wider customers.
Demo Day under the LINE ScaleUp project was not the day to declare success, but the day to showcase the potential of all six startup teams who are now ready to grow further and faster with their new capabilities and strength. LINE’s support for them is not limited to funding, but it extends to the provision of knowledge, tools, and technologies on the LINE platform that can help all six startup teams reach their dreams to become the first Thai Unicorn. With LINE’s more than 44 million users in Thailand, the startups will scale up to the regional and global levels.
Jayden Kang also talked about the Thai startups’ situation, saying: “The Thai digital economy accounts for only 3% to the country’s GDP. Most Thai startups today who operate the Digital business, are still in the early stage and lagging behind in terms of quantity and investment as well as growth in comparison with other countries in Asia such as Indonesia and Vietnam. The Thai digital economy accounts for only 3% to the country’s GDP due to 1) the lack of talent, particularly talent in technology. There is still a limited number of technological talent in Thailand compared to other economies of the similar scale and 2) funding. The Demo Day event today is therefore a great opportunity for the six startups, whose potential to become a unicorn we have already witnessed, to showcase their potential to international investors. Next year, LINE ScaleUp will keep focusing on talent and funding in order to further develop and strengthen Thai startups by leveraging our existing technologies and business networks to elevate the business development of Thai startups and companies. We believe that Thai startups have sufficient potential to increase the percentage of the digital economy share in the country’s GDP by two times within 2025 in alignment with Thailand’s goals to adopt technology and innovation for the transformation of the country in the 4.0 era.”
With the mission to strengthen the Thai digital economy by providing knowledge and tools for startups through the LINE ScaleUp project, LINE is ready to develop quality platforms and services for Thai people continuously in order to create happiness and usefulness from the constructive use of technology. For further information about the LINE ScaleUp project, please visit https://scaleup.line.me
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