The Thailand Center of Excellence for Life Sciences (TCELS) under the Ministry of Higher Education, Science, Research and Innovation, recently partnered with the Thai Health Tech Trade Association, HealthIncCo., and Rise Impact Thailand in put together the Journey to Success 2020 by TCELS mentoring program. The project is designed to support startups in the field of life sciences and health technology and give them greater opportunities for success through both regional and international business partnership deals.
Dr. Sirasak Teparkum, Deputy CEO of TCELS, explained that startups will be a key enabler of profit-orientated business by translating research into commercial use. Thepromotion of health-tech startups will thusrapidly drive the growth of the life sciences industry.
Dr. Patcharaporn Wongsa, TCELS expert, Biotech Ventures and head of the scheme, added that this second edition of the Journey to Success program was designed as an online platform offering startups activities to significantly expand their businesses.
The Journey to Success 2020 was organized between June and August 2020 and saw the participation of 11 handpicked startups, as follows:
1. Stepsole Co., Ltd., a producer of shoes pads based on principles of orthopedics and engineering
2. innoedge GoGo Co., Ltd., a platform to assess pain in elderly individuals suffering from dementia
3. Panacura Co., Ltd., a provider of diagnostic technology for personalized health throughgenetic testing
4. DigiPro Smile Co., Ltd., offers 3D dental services
5. trecon (Website) Co., Ltd., provides ICT services to help organizations keep employees in good health
6. Expert Technology Development Co., Ltd., offers a Smart Easy OPD (outpatient department) thought an automated screening system
7. Agnos Health Co., Ltd., provides an application for early screening of dementia using AI technology
8. Chiiwii LIVE Co., Ltd., provides a telemedicine mobile application
9. Finn Solution Co., Ltd., provides AR Professional Consulting Software
10. Born RDI Center Co., Ltd., provides a platform to connect organic farming communities through the application of blockchain technology
11. IQmed Innovation Co., Ltd., provides a design and research platform and healthcare consultant services as well as supplies to preserve a heart during delivery for organ transplantation
The major sessions of the programencompassed online learning, one-on-one mentoring and business matching. In-depth learning and mentoring designed to remove obstacles and covered 4 main topics, namelyproduct standard, exit plan, finance and intellectual property.
1. Coaching on the product standard component was provided by Mr. ThanetWiriyamethanont, biomedical engineer at Medical Device Control Division, Food and Drug Administration; Dr. Sak Sekkhuntod, principal advisor for digital transformation, the Electronic Transactions Development Agency (ETDA); and Ms. NarumolRattanakornphan, Chief Strategy Office, Bioneer Asia Co., Ltd.
2 Mr. Laurens van Hoorn, founder of Helathinc and an expert in fundraising for leading health businesses in the European market, trained participants in the Exit Plan, applying an EOS model that provides a visual illustration of the Six Key Components a business must follow in setting up business practices with an effective exit plan.
3. The finance topic was presented by Sethaphong Phadungpisuth, managing director, Gnosis Co., Ltd., who deliveredknowledge of the strategic business plan, corporate finance strategy and financial modelling to maximize profit.
4. Intellectual Property was covered by Mr. Veravej Ornthanalai, an IP strategist, and aimed to enhance knowledge about registration to protect and develop intellectual properties.
The program wrapped with a business matching session between startups and CEOs, major entrepreneurs and investors. The session helped generate business valued at more than 40 million baht through partnerships between Dietz Co., Ltd., Thaicom Plc. and Roche Diagnnostics (Thailand) Ltd.
Noting that life sciences & health tech arevital in driving the country's economy and medical technologies, Dr. Sirasak expressed the view that the Journey to Success program is a crucial step in strengthening startups for sustainable growth.