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Bangkok, Thailand, March 29, 2023 - Delta Electronics (Thailand) PCL. joined hands with the Department of Industrial Promotion (DIProm) under the Ministry of Industry to launch the 2023 Angel Fund for Startups Business Camp. This year, 45 teams were selected to attend the business camp with HUBBA Thailand joining the launch as corporate trainers to offer interactive workshops and expert business advice.
Launched as the Delta Angel Fund in 2016 by Delta and the DIProm, the fund aims to develop local talent and incubate startups in the innovative industry sector to support the Thailand government’s development policies. The Angel Fund program links Thai entrepreneurs with government and private sector partners and offers funds and an intensive program for business skill-up and innovation incubation.
Mr. Jackie Chang, Delta Thailand President, gave a video address to welcome the contestants and share the positive impact of the Angel Fund. “By 2022, Delta has provided over 23 million baht of funding to 309 winning teams 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,” he said.
In 2023, program activities include a business camp with tutoring in a progressive 6-step model. Contestants prepare and present their business models to an expert judging panel of industry experts, sponsors and investors. After the camp, teams will compete in a Hackathon and two Pitching rounds. Finally, 5-10 winning teams from the 45 teams will be selected by the fund committee with combined scores from the Hackathon and Pitching rounds.
Since 2022, the competition projects are related to the Thai government’s 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. The Ministry of Industry announced the opening of the industrial policy driven by "MIND". The 4 dimensions of this policy are:
• Promoting business
• Caring for society
• Protecting the environment
• Distributing income to communities around the industrial areas
The Ministry of Industry’s BCG strategy and 2022 MIND policy are well aligned with Delta’s sustainable development policy and ESG strategy to transfer technology and foster green innovation in the local community. Entering its eighth year, the Angel Fund by Delta and the DIP has grown to be an inclusive and robust platform to foster local entrepreneurs and startup talent in Thailand.
