Ministry of Industry and Delta Host 2022 Angel Fund for Startups Awards with Prizes and Funds to Boost Thai Innovation

Bangkok, Thailand, September 14, 2022–Delta Electronics (Thailand) PCL. joined hands with the Ministry of Industry’s Department of Industrial Promotion (DIP) to host the Delta Angel Fund for Startups 2022 awards ceremony. This year, Delta awarded the 1st Prize winner team RENEWSI with one million baht in corporate sponsorship funds.

Due to COVID-19, the 2021 Angel Fund award ceremony was virtual and this year it resumes as an in-person event. At the event, Mr. Suriya Juangroongruangkit, Minister of Industry, presented a certificate of recognition to Delta Thailand.

In addition, Mr. Kobchai Sungsitthisawad, Permanent Secretary of the Ministry of Industry, and Dr. Nattaphol Rangsitphol, Director-General of the DIP welcomed the participating teams and congratulated them on their successful projects at the Angel Fund for Startups 2022.

The Ministry of Industry and Delta then presented Angel Fund for Startup certificates and Delta awarded sponsorship funds to six prize-winning teams. The First Prize team received 1,000,000 baht and other top prize teams received from 800,000 Baht to 400,000 Baht in sponsorship funds.

This year, Delta awarded 4,000,000 baht in total funding and each team’s prize funds increased significantly for all prizes. Individual team funding is increased to attract more Thai startups to join the Angel Fund and provide value to the market and society.

The six prize-winning teams for Delta Angel Fund for Startup 2022 are:
1. First Prize: RENEWSI
• Project: A recycling process for silicon solar cells that converts solar panel waste to new energy and high-value products like nano-silicon used in batteries and EV parts.
2. Second Prize: EMMA
• Project: A 12-lead EKG (electrocardiogram) machine that uses wireless technology.
3. Third Prize: UPCYDE
• Project: A conversion process to turn food and agricultural waste into leather materials with a circular economy supply chain model.
(Circular Economy Supply Chain Model)
4. Fourth Prize: NRG Trac
• Project: An online solution for companies to track carbon emissions.
5. Fifth Prize: Muu
• Project: A cell-grown milk product to reduce the carbon footprint created by cows.
6. Sixth Prize: TEDR
• Project: A localized robot development skills training course offered by a local industrial robot designer and producer.

Speaking on the occasion, Jackie Chang, Delta Thailand President said, “Every year, Delta and the Ministry of Industry promote the Angel Fund and select startup teams for their relevance to Delta’s energy efficiency and automation solutions and commercial potential in the market. In recent years, the competition has become more accessible and exciting with a Hackathon format. Winning teams can receive cash prizes from Delta and get national exposure that opens doors to new opportunities.”

Throughout the year, Delta supported Angel Fund for Startup teams with technical and business training to develop their business proposals into commercially viable offerings. This year, Siam Cement Public Company Limited (SCG) and Advanced Info Service Public Company Limited (AIS) joined as corporate partners and mentors. For the second year, winning teams can join pitching at the business reality show Shark Tank Thailand for additional funding.

Launched as the Delta Angel Fund in 2016 by Delta and the DIP, the fund aims to develop local talent and incubate startups in the innovative industry sector to support the Thailand government’s development policies. This year’s competition projects are related to Bio-Circular-Green Economic (BCG) Model and ESG that support Thailand’s shift to a low-carbon society with a new green economy for sustainability.

By 2022, Delta has provided over 23 million baht of funding to 309 winning teams (24% female-owned) to support the commercialization of smart industrial and energy-related products in the Thai market. The Angel Fund is a major part of the DIP’s startup projects that generated an outstanding economic value of over 970 million baht and created 927 jobs.

Delta’s Angel Fund for Startups is a key pillar in its collaboration with the Thai government, educational institutions and industry partners to support Thailand’s new normal economic recovery and Thailand 4.0 development.

21 September 2022