Bangkok Bank InnoHub

Thailand’s First Global Fintech Accelerator Program

Bangkok Bank InnoHub is a 12-week program that will allow you to collaborate with
one of Thailand and Southeast Asia’s largest commercial banks.

Area of Focus

We are refreshing our approach with five new themes. Please check them out and if you think your idea or innovation fits please contact us and apply now.

Creating Unique Customer Experience

Digitization and Automation

Future SME Solution

Innovative Payment

Discovering Cutting Edge Technology

About the Program

Selected startups will receive dedicated mentorship from financial experts from across Bangkok Bank and Bualuang Ventures as well as strategic guidance from international venture firm and innovation provider, Nest. They will be guided through a process that is designed to give startups the opportunity to secure a Proof-of-concept (POC) with the bank and pitch for investment by the end of the program

Why Bangkok Bank InnoHub Accelerator Program?

Thailand is the second-largest economy in the ASEAN region where founders can take advantage of the rapidly growing and vibrant startup ecosystem which is supported by the government’s Thailand 4.0 initiative.
Bangkok Bank is one of the largest banks in the region, a formidable entity in both banking and business. Thus, through the structured support and potential investment from Bangkok Bank and/or Nest in this program, international startups and local startups are able to apply innovative technologies in Thailand and the greater SEA region.

Program’s timeline

BENEFITS

This accelerator will go beyond traditional lecture-style seminars on the basics of building a business. Instead, a dedicated champion will be assigned to each startup to understand their unique needs. Mentors from Bangkok Bank’s business and technical teams will guide each startup towards a potential pilot that will help them secure meaningful partnerships in the future.

Access Bangkok Bank and Nest’s global network of specialists in technology integration adoption

Gain guidance through a structured process working towards a potential pilot integration project with Bangkok Bank

Investment advice from Nest and Bualuang Ventures, who have a fund dedicated to investing in high-potential growth-stage companies in Thailand and overseas

Exposure to the innovation ecosystem in Thailand and a network in Asia as a foundation for future expansion

Become a part of Nest’s program alumni who enjoy access to startup ecosystems throughout emerging markets in Asia and Africa, as well as developed hubs in the US and Europe

Access to customer insights regionally and internationally via one of Thailand’s largest commercial banks

We are proud of our ALUMNI

Frequently Asked Questions

GENERAL

What type of startup is the Bangkok Bank Accelerator program focusing on?

We are looking for any startups building technology solutions in FinTech and beyond. Please find more detail in the Area of Focus under About the Program Menu.

What stage of startup is the Bangkok Bank Accelerator suited for?

Companies that have a functioning prototype, a product that is looking for validation in a commercial setting, or a revenue-generating startup looking to scale into new high potential markets.

How are the final companies chosen? What is the criteria?

All companies who apply will be considered by a joint Bangkok Bank, Bualuang Ventures and Nest vetting committee. The best candidates will progress to a pitch day, where founders will pitch in person or virtually to a panel of judges. From this, up to eight finalists will be selected to join the program. Startups and founders that can demonstrate the potential to work in synergy with Bangkok Bank or benefit from being based in Thailand for 12 weeks will receive additional consideration.

What role is Bangkok Bank going to play in the Bangkok Bank Accelerator and what commitment has been made?

Bangkok Bank is committed to empowering and supporting local and international entrepreneurs. During the program, you will receive mentorship from carefully selected leaders from within a range of business units to help you develop your solution, guide you towards a potential pilot, open doors to strategic partners, investors and future customers.

Will all the mentors come from Bangkok Bank itself?

No. Each of the startups will have selected Bangkok Bank mentors, which will be supplemented by regional experts from Nest and their joint network of entrepreneurs, as well as business leaders throughout Asia.

What if my company is not an expert at developing financial solutions?

We’re not looking for experts, but creative startups with a vision and inspiring solutions. You’ll get access to experts in the field from Bangkok Bank and its partners, as well as business support from Nest. All we ask is that you’re determined and capable of improving your own solution, have the drive to make it happen, and are focused on the potential of your startup.

FUNDING

Is there an equity stake component for participation in the program?

As part of the program, Nest and/or Bangkok Bank will sign an agreement with you that gives us the opportunity to invest in your company at the conclusion of the program. The terms of this agreement will be negotiated on a case by case basis and will always be based on a mutually agreed valuation. We will not take a fixed equity percentage upfront, instead we will work with you to determine a valuation that you are comfortable with and which appropriately captures your stage of development. Nest and/or Bangkok Bank will only invest if at the end of the program, we jointly feel that we can add significant value to your business. Regardless, we aim to understand the type of support you need and we strive to provide that support through introductions to investors and partners in our network during and after the conclusion of the program.

How can participants receive funding after Bangkok Bank program ends?

You’ll have the opportunity to showcase your products and services at Demo Day, where a range of potential investors, which may include venture capitalists and influential industry leaders, will see your proposition and listen to your pitch. Nest will maintain an ongoing relationship with the founders and continue making introductions to investors and VCs after the program ends.

APPLICATION PROCESS

How does the application process work?

Interested startups can apply online through here, which will direct you to a dedicated FS6 application page. It includes a few simple questions about your company and your team. You’ll have the opportunity to include a video and pitch deck that describes your business.

How detailed do I need to be in the application?

In this initial application process, we ask applicants to describe market opportunity, the team, an overview of your business, and an execution plan. The more information you provide, the easier it is for us to assess the full potential of your business.

Do I need to send in a business plan?

No, just complete the online application. Please note that we will ask for a pitch deck as part of the application.

Is my age a factor in your selection process?

The program is open to founders aged 18 and over.

When is the deadline to apply and what’s the overall timeline?

The Applications deadline is October 7th. If you’re a finalist, we’ll notify you for acceptance in early November. The timeline has full details, including the start and end dates of the program.

LOCATION

Where will I be working?

You will be working in the heart of Bangkok at a location provided by Bangkok Bank. You will be working alongside the other selected teams, and will be in close contact with the mentors and champions of the program.

I am a startup from overseas. Do you offer transport and accommodation?

Yes, the program will arrange and cover your accommodation costs for the duration of the program, as well as one set of return flights to and from your home country.

Do companies have to be on-site for the entire program period?

We recommend that you’re on-site as much as possible during the program. The more immersed you are, the more you’ll gain. There will be 2 weeks of virtual engagement and 2 weeks holiday for Christmas and New Year (optional).

Can I apply if our company or founders are not from Asia? Can you help with visa/immigration issues?

Anyone from anywhere can apply. If you’re accepted, you’ll need to have a legal right to be in Thailand. Bangkok Bank will help with obtaining SMART VISA for successful companies. We encourage you to start this process as early as possible once you’ve been accepted into the program.

LOGISTICS

Is there a Demo Day and who will be invited?

We will arrange for a final Demo Day in end of February or early March 2019. This will be an invitation-only Demo Day for you to pitch to a wider audience for external partnerships and funding.

What will a typical day be like for a program participant?

We’re pleased to say there’s no such thing as a typical day. Throughout the program, you can expect to be guided by Bangkok Bank and Nest mentors and advisors, as well as access to venture capitalists, CEOs, innovators and industry visionaries.

NEST

What is Nest?

Nest operates corporate accelerator programmes, invests in startups and runs a global entrepreneurial community called Mettā. Nest has built an innovation ecosystem to connect the fast growing markets of Asia, the Middle East, and Africa. Our goal is to help entrepreneurs, corporates and governments to connect, collaborate and scale. Visit us at https://nest.vc/

Why did Bangkok Bank partner with NEST on this program?

Bangkok Bank InnoHub Season 2 is a joint effort between Nest and Bangkok Bank. Nest has managed and delivered innovation programs with Bangkok Bank since 2017 and have a track record of establishing and supporting similar programs in other markets, for example in Hong Kong (for DBS Bank, INFINITI, FedEx and AIA), Singapore (for AIA & Konica Minolta, and for OCBC Bank) and Bahrain (for American Express). As an international innovation partner with an extensive global network, Nest can help attract top startups to gain increased exposure to the local Thai market and additionally use the program as a foundation to expand regionally and internationally.