FinLab accelerator fires up for Thailand SMEs
The FinLab has launched its smart business transformation programme for Thailand-based SMEs.
FinLab is accepting applications until January 2019
The three-month programme is supported by United Overseas Bank (UOB – Thailand) and the nation’s Digital Economy Promotion Agency (DEPA).
Felix Tan, MD, the FinLab, says: “Our mission is to help SMEs across ASEAN validate their solutions and scale their businesses through digitalisation and business transformation.”
Thailand is the first market outside of Singapore where the FinLab will offer its SME programme.
As reported in February, the FinLab, a joint venture between UOB and SGInnovate, launched the third cycle of its tech acceleration programme for SMEs.
That programme completed in August where 11 Singapore-based SMEs “deepened” their digital capabilities by piloting the use of technologies such as artificial intelligence (AI) and robotics process automation (RPA).
According to the findings of an online survey by the FinLab, Thai SMEs said their top two business growth strategies were to enter new markets (54%) and to use online marketing (51%). Social media marketing (62%) and digital marketing (61%) were their preferred methods to increase sales and to improve customer engagement.
However, while Thai SMEs were keen to tap digital solutions to enhance their online presence, they were concerned about the cost (67%) and complexity (44%) of implementation.
The three-month programme will offer help with business models and adopting digital solutions particularly those in online sales and marketing.
The SMEs will then be matched with a suitable technology solution provider to address their concerns and to pilot the implementation of the solution.
The FinLab is accepting applications until January 2019. You can get more details and apply here.
