|Krungsri Finnovate is the corporate venture arm of the Krungsri Group, which aims to be a fully strategic investor to support and promote startups in Thailand and Southeast Asian countries through accelerator and academic collaboration, startup partnership, and corporate venture capital (CVC). Krungsri Finnovate has partnered with corporate innovation accelerator RISE Academy to launch its accelerator program, Krungsri RISE. Krungsri RISE is Thailand’s first corporate synergy-driven accelerator, seeking to enhance the capacity and accelerate the growth of local fintechs and other startups to the regional level.
Since its launch in 2017, selected startups have been working closely with Krungsri business units and other industry veterans to boost the potential of their initiatives throughout the 12-week program. Through Krungsri RISE, Krungsri also intends to work with fintechs, which can provide further innovations to the bank, so that it can continue to meet and exceed customer demand. Krungsri Finnovate has run three batches of this program, where all participants received the opportunity to present their financial innovations to possible investors. It has also set an investment capital of US$30 million for startups over three years, while it targets building Thailand’s fintech unicorns.