True Incube, the incubator set up by Thailand-based telecommunications firm True Corporation, is seeking applications for its sixth scale-up program, the Bangkok Post has reported.
The incubator is particularly interested in startups that could provide synergies with True Corporation and its parent, conglomerate Charoen Pokphand Group (CP Group).
A total of five companies will be chosen, with preference given to those in the artificial intelligence, big data, machine learning, internet-of-things, robotics, advertising and media, logistics, medical, financial, energy, agriculture and food technology sectors.
True Incube will partner regional corporate innovation firm Rise to improve the program, while agro-industrial group Charoen Pokphand Foods – also a subsidiary of CP Group – will seek to provide business matching opportunities.
The incubator was launched in 2013 and has supported approximately 30 portfolio companies to date. It has invested a total of about $1.6m, with startups receiving at least $32,500 from the incubator and up to $325,000 in additional funds from unspecified corporate venture capital units.
