The Thailand Center of Excellence for Life Sciences (TCELS) under the Ministry of Higher Education, Science, Research and Innovation, has joined with Srinakharinwirot University in introducing the “Life Sci. Level Up Challenge 2020” project. Launched on July 10, 2020, the Challenge is designed to promote and incubate startups and new researchers in the field of medical and healthcare technologies. The launch event included a panel discussion titled “Life Sci. Startup: Opportunities, Challenges and Growth Potential” by experts in life sciences and business executives. The TCELS also announced the 27 startups selected to participate in an intensive incubation program, which will see the well-known speakers disseminating knowledge and passing on their experiences to startups over sessions spread over 30 hours between June and August 2020 at no cost.
Dr. Nares Damrongchai, CEO of TCELS, explained that the TCELS has been supporting the Life Sci. Level Up Challenge for four years with the aim of helping emerging entrepreneurs in life sciences technology build up and empower their business to operate at both the regional and international levels. The promotion of startups and researchers also aimed to expand trade and investment, as well as add marketing value to the country's life sciences industry. This year, the TCELS is determined to eliminate any weaknesses on the part of the entrepreneurs and enhance their capabilities.
“The event focuses on startups and researchers with expertise in the biotech, pharmaceutical, medical devices, diagnosis, cosmetics/supplementary food and health tech sectors. The professionals who took part in the discussion will serve as mentors and enhance knowledge and skills especially in business plan analysis, marketing strategy and corporate law,” he said.
This year, 27 teams were chosen from the 47 who applied. The project organizing committee evaluated the potential of each team to a prepare development plan specifically designed to the needs of each. In the first stage, a 12-hour training course provides the essential capabilities for the startups while a second 12-hour session in the second stage aims to develop capacity in each life science business group. Finally, a training course of at least 6 hours will be developed in line with the needs of each team with an emphasis on eliminating weakness and reinforcing strength. Highly experienced Mentors include Mr. Thunyawat Chaitrakul, Dr. Lerson Tanasugarn, Mr. Phathompong Suklek and Mr. Kraiwin Wattanarat.
“After all teams finish the training programs, the TCELS will organize a business plan competition as part of the Demo Day: Life Sci. Level Up Challenge 2020 which will take place in September this year. The five teams who make it through to the final round of the competition will have the chance to win business opportunities worth more than 300,000 baht. The TCELS is confident that the selected teams can create business opportunities through a collaborative network of medical and healthcare startups,” Dr. Nares said in conclusion.