SCG joins hands with Sasin Graduate Institute of Business Administration of Chulalongkorn University at the press conference as the official organizers of the SCG Bangkok Business Challenge @ Sasin 2018 – Deep Tech Innovation. Winners of the challenge will receive the award bestowed by His Majesty King Maha Vajiralongkorn Bodindradebayavarangkun and over US$60,000 in prize money. The challenge will be the biggest international innovation and technology startup business challenge in Asia that is conducted in English and is expecting participants from graduate schools of different fields of study. Held for the 16th consecutive year, the challenge receives more interest and participation from world-leading universities each year. The event has been deemed a success and a pride of Sasin Institute in which the organization played a role in developing the startup ecosystem both in Thailand and other countries to create new businesses from innovation for the world market. The main official sponsor of the SCG Bangkok Business Challenge @ Sasin 2018 is SCG, with the Stock Exchange of Thailand, Houston Technology Center Asia, Kiatnakin Phatra Financial Group, Victor, and Money Channel as co-sponsors.
The SCG Bangkok Business Challenge @ Sasin 2018 – Deep Tech Innovation is a stage that offers the opportunity for graduate student from Thailand and other countries to show their potential and present their research projects to develop their entrepreneurship mindset. The challenge aims for the students to utilize their business administration knowledge as a virtual experience that can be developed towards real business investments in the future that can grow sustainably.
“All this time, SCG understands the importance of creating innovation through research and development (R&D) in cooperation with all sectors while seeking opportunities to expand businesses with the startup network from all over the world, with the ultimate goal to cater to the demands of consumers with products and services that are better, faster and worthy of the cost. Thus, SCG found the opportunity to be a part of this movement to drive new ideas and business plans with Deep Tech Innovation in the SCG Bangkok Business Challenge @ Sasin 2018 with the Sasin Graduate Institute of Business Administration of Chulalongkorn University. SCG aims to support the businesses of the new generation to grow and become more commercial in the future while operating in line with the company’s goal to be a part of the sustainable growth of the startup ecosystem both in Thailand and in Asia in the long term,” said Dr. Suracha Udomsak, R&D Director and Emerging Businesses Director of SCG Chemicals.
“Moreover, SCG believes in the potential of new generation startups. Through collaboration, they can overcome any limitations and bring about a new dimension of new innovations that will succeed in answering the demands of consumers in the future,” added Dr. Suracha.
The SCG Bangkok Business Challenge @ Sasin 2018 – Deep Tech Innovation received overwhelming interest. This year, 112 teams from 52 educational institutes from 16 countries in 4 continents entered the selection round of the competition. Then, 15 teams from leading business schools from 9 different countries were selected for the Semi-Final Round: Cambridge Judge Business School, University of Cambridge from the United Kingdom, Middlebury Institute of International Studies at Monterey and University of Oregon from the United States of America, University of Toronto from Canada, Nanyang Technological University from Singapore, National Chengchi University and National Chiao Tung University from Taiwan, Queensland University of Technology from Australia, S.P. Jain Institute of Management and Research from India, Universiti Teknologi Malaysia from Malaysia, as well as Naresuan University and Sasin Graduate Institute of Business Administration from Thailand. Moreover, 7 teams from 7 universities in the Thailand Track Round will compete for a chance to win US$2,500 and enter the semi-final round with the other 15 teams. The 7 teams are from Asian Institute of Technology, Kasetsart University, Khon Kaen University, King Mongkut’s University of Technology Thonburi (KMUTT), King Mongkut’s University of Technology North Bangkok, Bangkok University, and Sasin School of Management.
The grand prize winner of the challenge will receive the award from His Majesty King Maha Vajiralongkorn Bodindradebayavarangkun. Other prizes are H.R.H. Princess Maha Chakri Sirindhorn’s Sustainability Award from H.R.H. Princess Maha Chakri Sirindhorn for the winning team in the category of sustainable development business plan and other prizes worth a total of US$60,000.
The Award of Honor and Pride
“It is a great honor for Sasin Graduate Institute of Business Administration to receive the grace of His Majesty King Bhumibol Adulyadej in giving H.M. The King’s Award to the winners of the competition since 2002. This year, the winner of SCG Bangkok Business Challenge @ Sasin 2018 will receive H.M. The King’s Award, graciously bestowed by His Majesty King Maha Vajiralongkorn Bodindradebayavarangkun. In the beginning of the project we held nationwide competitions and region-wide competitions in Asia until our students went on to become internationally well-known. As organizer of the challenge, Sasin Graduate Institute feels great pride in the Bangkok Business Challenge competition that is held in English and has helped develop the research projects of Thai graduate students to reach international levels,” said Mr. Paron Israsena Na Ayudhya, Director of Sasin Graduate Institute of Business Administration of Chulalongkorn University.
15 Years of Success and the Uniqueness of Bangkok Business Challenge @ Sasin
“As the co-founder and director of the Bangkok Business Challenge and its working committee for the past 15 years, the Bangkok Business Challenge @ Sasin has enjoyed great success. More graduate students from leading educational institutions in Thailand and other countries are participating in the competition every year, with this year claiming the largest number of participants of 112 teams from leading institutes. The standard of our competition is on par with international competitions, with experienced judges from Thailand and abroad from various roles and industries: businesspeople, marketers and investors joining our panel from the selection rounds to the final round. The competition is not merely an exercise in the classroom, but a combination of bringing in innovation and technology to the stages of business development. In the past, students who joined in the challenge used innovation and technology to develop real businesses and found success. This initiative is in line with SCG’s vision in business operations in that we understand the importance of research and development of new innovation while supporting startups to become more commercial in a sustainable way in the region and in the future, the world. Thus, this is the uniqueness of the SCG Bangkok Business Challenge @ Sasin 2018,” said Mr. Kongpan Pramoj Na Ayudhaya, Co-Founder and Director of Bangkok Business Challenge @ Sasin.
“SCG Bangkok Business Challenge @ Sasin 2018 is the largest international innovation and technology startup competition in Asia. It is not only a competition, but a preparation before entering the world of real business. During the 3-day competition, the teams will be questioned by multiple judging panels on various issues as though they will be joining in the business venture while helping the team adjust their business strategies and ensure that their businesses are more sustainable. Meanwhile, students and the general public attending this event will gain a better understanding of startups and be inspired to become entrepreneurs in the future.” Mr. Kongpan added.
Developing and Building on Ideas towards Success
“I was very glad and honored to receive the winning award of the Bangkok Business Challenge in 2011, and even more proud to receive the “Inspiring Ideas” award at the Global Entrepreneurship Summit 2016 (GES) competition in the United States of America which was an annual summit of businesspeople worldwide held by the US government. Only 150 businesspeople were selected from the 5,000 applicants that year, including the founders of Facebook, Uber, Airbnb, Google, and investors as well as government organization. That year, we were honored to witness President Barack Obama as the chairman of the ceremony. Apart from the prize, I received advice on business expansion from Silicon Valley experts and I joined a partnership with KIVA, a large fundraising organization dedicated to investing in organic farming for small farmers in the Northeastern region of Thailand. For me, I believe that the key to success is to have a defined position and goal, as well as understanding your needs and committing to the goal. You need to create your own identity without using ideas from others. Most importantly, you have to own the responsibility to create better things for society and the nation.” said Mr. Peetachai Dejkraisak, CEO and Co-Founder of Siam Organic Co., Ltd, manufacturer of jasberry rice.
Background of the Challenge
Associate Professor Adith Cheosakul, Chairman of the SCG Bangkok Business Challenge @ Sasin explained the background of the Bangkok Business Challenge @ Sasin, “the Bangkok Business Challenge (BBC) was founded in B.E. 2545 or in 2002 by the Sasin Graduate Institute of Business Administration of Chulalongkorn University with Krungthep Thurakit newspaper when they organized an English-language business plan challenge for graduate students for the first time in Thailand to commemorate the institute’s 20 years of establishment and the newspaper’s
15 years of establishment. Contestants were graduate students from business administration programs from educational institutes in Thailand. The objective of the challenge was to offer a platform for competition among graduate students where they may utilize their business administration knowledge as a virtual experience that can be developed towards real business investments in the future. The winners of the challenge received H.M. The King’s Award bestowed by His Majesty King Bhumibol Adulyadej as an honor and pride, and the challenge was called the Bangkok Business Challenge since then. From the initial objective for the challenge to be a stage for university students in Thai institutes to show their potential and present their research that can be developed by investors and businesspeople into real businesses, the Bangkok Business Challenge @ Sasin received attention and attracted student representatives from domestic and international educational institutes. The challenge grew from a national competition to a regional competition in Asia and became an international competition in 2008, only 7 years from its inception. The challenge was held annually until 2007 when it was supported by mai or the market for alternative investment in place of Krungthep Thurakit newspaper. Thus, the competition was renamed “The mai Bangkok Business Challenge @ Sasin”. In 2017, SCG became the main official sponsor in place of mai and the challenge was held under the name of the “SCG Bangkok Business Challenge @ Sasin 2018”. Moreover, the Stock Exchange of Thailand, Kiatnakin Bank (currently Kiatnakin Phatra Financial Group), Houston Technology Center Asia, Victor, and Money Channel have been co-sponsors since the beginning of the project until now.
The SCG Bangkok Business Challenge @ Sasin 2018 – Deep Tech Innovation is held from February 8 to 10, 2018 at Sasin Graduate Institute of Business Administration. University students, graduate students and the general public interested in participating may register or seek more information at http://bbc.sasin.edu or firstname.lastname@example.org.