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Bangkok, Thailand, April 2, 2024- Delta Electronics (Thailand) PCL. joined hands with the Department of Industrial Promotion (DIProm) under the Ministry of Industry to launch the 2024 Angel Fund for Startups Business Camp. This year, 51 teams out of the 86 teams who joined the Open House event were selected to attend the business camp.
Mr. Victor Cheng, Delta Thailand CEO, gave a special address to welcome the contestants and share the positive impact of the Angel Fund. “By 2023, Delta has provided over 28 million baht of funding to almost 200 top winning teams to support the commercialization of smart industrial and energy-related products in the Thai market. In 2024 we enter our 9th year of collaboration and will add the Soft Power theme as a new focus to complement the BCG model.”
The 2024 Angel Fund for Startups Business Camp features workshops and classes led by innovation experts involved in the Thailand startup ecosystem. Topics include business model blueprints for startups, Personal Data Protection Act (PDPA) and Intellectual Property (IP) for startups, value proposition and customer canvas, revenue models and basic business valuation for pre-seed and seed round, business market validation and creating the perfect pitch.
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.
After the business camp, teams will compete in a Hackathon and two Pitching rounds. This year, Delta welcomes top Thailand companies B. Grimm Power from the industrial sector and Siam Piwat and Premier from the consumer and real estate business sectors to join as industry expert judges and coaches for our Hackathon event. At the Hackathon, 10 winning teams from the 51 teams will be selected to join the two Pitching rounds to determine their final prize. Delta offers a total of five million baht in funds to the winning teams.
Since 2022, the competition projects have been 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. In 2024, the project will focus on the government’s soft power strategy for initiatives across eleven crucial soft power industries: food, gaming, festivals, music, film, literature, arts, design, sports, fashion, and tourism.
