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Thai Stock Exchange launches blockchain crowdfunding platform to fund startups

Thai Stock Exchange launches blockchain crowdfunding platform to fund startups

According to a recent
announcement
from the Stock Exchange of Thailand
(SET), a blockchain-based crowdfunding platform has been officially launched to
improve access to capital fund for startups and small and medium-sized enterprises (SMEs) in Thailand.

Developed by the SET, LiVE
is the first Thailand crowdfunding platform for startups and SMEs. The platform
has officially launched with eight targeted businesses from various sectors
such as mobile application, consumer products and medical equipment. It is
expected to expand to include over 50 companies.

The LiVE crowdfunding platform provides the Over-the-Counter
(OTC) trading service for startups and SMEs to access capital funding. Its
infrastructure is supported by blockchain technology which allows participating
businesses to expand and get connected with future alliances.

Businesses to be qualified to join LiVE have to be companies
registered in Thailand, whose founders and executives carry no criminal records
with financial statement audit conducted by certified auditors.

In order to raise over THB 20 million, an eligible business
must present a record of previous capital raising of at least THB 5 million, or
be endorsed by a sponsor. For fundraising of over THB 100 million, the
financial statements audited by Securities and Exchange Commission
(SEC)-certified auditors must be presented.

For a company to join the platform, it must first register
as a member with proof of identity and go through a screening process. Then, it
will have to prepare campaigns with a presentation and Q&A with investors.
After a campaign is completed, the business will receive funding to support its
business plans. The process is supported by the registrar of the platform.

Credit: LiVE

There are four types of investors for this platform –
institutional investor, venture capital, corporate venture capital and specific
investor with annual income no less than THB 4 million or with combined assets
worth no less than THB 50 million, and at least one year of investment
experience.

Using the LiVE platform, an investor must first sign up to
be a member with proof of identity. After that, the investor can meet companies
listed on the platform and explore available offers. The platform aims to
facilitate investment in listed campaigns and help investors become a
shareholder. It also allows investors to trade their shares and reinvest in
other campaigns.

For investors, the LiVE platform offers four major benefits:
(1) to explore businesses with ease in the one-stop portal, (2) coverage of all
investment processes including funding raising and trading, (3) ability to
trade and settle with a trusted and transparent system, and (4) ensure
shareholders’ benefits with trusted registrar services.

“LiVE platform will be a key mechanism to help drive forward
Thailand's growth especially enabling startups and SMEs to have more financial
accesses through crowdfunding. Businesses can utilize LiVE to promote to a
wider target group while using partnership to expand customer base. In
addition, this platform also offers opportunities for investors, both
individual and corporate, who are qualified by the Securities and Exchange
Commission regulations, to select to invest in their preferred business with
growth potential," said Mr Kesara Manchusree, President of SET.

According to Mr Manchusree, SET is determined to offer
growth opportunities through the creation of a complete startup ecosystem,
inclusively from the business management education for startup and SME
entrepreneurs, to assistance in connecting with institutional and accredited
investors. To operate the crowdfunding platform, SET has established Live Fin
Corp Co. Ltd.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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