April 8, 2023
Krungsri Finnovate Launches 12 Startups in the Finno Efra Accelerator Program
GOWAJEE, specializing in Thai speech recognition and AI-powered contact center solutions, has been chosen as one of 12 startups for Krungsri Finnovate's Finno Efra Accelerator, aimed at nurturing Thai startups to reach Series A.

What is Finno Efra Accelerator?

The Finno Efra Accelerator is a collaborative initiative by Krungsri Finnovate and EfraStructure, aimed at nurturing startups from Seed to Pre-Series A stages, helping them scale to Series A with robust foundations.

Sam Tanskul, Managing Director of Finno Efra Accelerator, highlights the program’s goal to strengthen Thailand’s startup ecosystem. While most investments in the country focus on Series A or later, early-stage startups often lack support, contrasting with trends in Southeast Asia. By addressing this gap, the accelerator hopes to cultivate a thriving ecosystem with new, innovative startups.

Meet the 12 Startups in the Program

Initially intended for 10 teams, the intense selection process saw two additional startups make the cut. Here are the 12 selected teams:

  1. Wang: Data Market – A platform enabling individuals to monetize their free time by sharing data, connecting them with researchers who need datasets to develop AI.
  2. PAM Real CDP – A marketing platform that collects and analyzes customer data, enabling personalized, automated campaigns.
  3. Spacely AI – An AI-powered architectural design platform for architects worldwide.
  4. Graffity – A platform developing 3D maps and high-precision AI-based positioning, five times more accurate than GPS.
  5. Gowajee – Specializes in Thai speech recognition and offers GCI (Gowajee Call Intelligence), an AI-driven solution for contact center analytics.
  6. ThaiHand Massage – A platform revolutionizing Thailand’s spa and massage industry by streamlining customer bookings, business management, and therapist tracking.
  7. AIYA – A location-driven media platform enhancing OOH advertising with AI for personalized consumer experiences.
  8. MUI-Robotics – An artificial senses platform enabling AI and robots to perceive sensations like humans, including sight, taste, and smell.
  9. Vansales – Simplifies sales and distribution with tools for stock management, customer visits, and real-time ordering.
  10. Osseolabs – Creates digital surgery planning systems and custom implants for orthopedic and facial surgeries using AI and 3D printing.
  11. Daywork – A platform matching temporary workers with employers within 24 hours, leveraging AI for precision and speed.
  12. JobsLab – Drives temporary employment for entry-level workers, connecting them with high-quality employers in Thailand.

Program Highlights

Participants will undergo a 4-month Bootcamp divided into two terms (Oct–Nov 2024 and Jan–Feb 2025), culminating in a Demo Day in March 2025. The Bootcamp includes:

  1. Mentorship – One-on-one guidance from top Thai tech leaders.
  2. Business Classes – Hands-on learning from industry trainers.
  3. Coaching – Access to over 100 domain-specific coaches.
  4. VC Networking – Opportunities to connect with investors and corporations.

Rewards and Opportunities

Startups can secure funding of up to THB 40 million, provided they meet set KPIs. For those not making the finalist list this year, Krungsri Finnovate encourages them to apply for the next batch.

Driving Ecosystem Growth

Pawoot Pongvitayapanu, Chairman and Founder of EfraStructure, emphasizes the accelerator's role in fostering new entrepreneurs and driving economic growth. By combining funding with critical business knowledge, the program supports startups on their path to becoming global Unicorns.

This program signifies a significant step towards reinforcing Thailand's startup ecosystem and encouraging innovation across industries.

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