UOB Thailand has unveiled UOB FinLab’s 2024 GreenTech Accelerator (GTA) programme, marking a significant step towards addressing pressing sustainability challenges. This initiative aims to empower GreenTech companies to pilot innovative solutions that create a positive environmental impact.
Twelve Thai GreenTechs are among the final thirty-three companies selected for the programme from a competitive pool of 350 applicants across ASEAN. The selected enterprises will participate in a rigorous six-month regional programme designed to foster growth, transformation, and networking opportunities.
Participants will benefit from an unparalleled learning experience, gaining access to masterclasses led by thirty world-class mentors from Singapore, Thailand, and Malaysia. They can tap into UOB FinLab’s extensive network for sustainability know-how and tools, comprising 25,000 industry leaders from businesses, governments, SMEs, and tech suppliers.
In a bold move to accelerate sustainable innovation, UOB is offering selected GreenTech companies up to 2.7 million baht to pilot innovative, relevant, and deployable solutions to help corporates tackle sustainability challenges.
UOB FinLab has worked closely with its corporate partners across ASEAN to identify major sustainability challenges faced by companies and the industry. The selected GreenTech companies will collaborate with these partners and UOB FinLab to develop innovative solutions addressing real-world sustainability issues. They will focus on key areas such as energy efficiency, circular economy and waste management, carbon management and reporting, food and agriculture, and urban planning.
The GTA programme first launched in May 2022 in Singapore and has already seen significant success. Its inaugural run attracted over 150 applications, resulting in eight pilots and partnerships, and generating more than 160 meaningful business connections.
One standout success story is HydroNeo, one of the Thai GreenTech companies that participated in the 2022 GTA programme. HydroNeo has made substantial strides in enhancing the sustainability of Thailand’s aquaculture sector through a smart farm management system. With HydroNeo’s pilot, shrimp farmers have experienced significant improvements in harvest size, energy efficiency, and profitability. The company currently manages 150 production ponds, showcasing the tangible impact of GreenTech solutions.
Mr. Banlang Wongthawatchai, Head of Digital Engagement and FinTech Innovation, UOB Thailand, said, “We are truly excited to launch the GreenTech Accelerator Programme in Thailand, as this initiative reflects our strong dedication to fostering innovation and promoting sustainability. We have designed this programme to help startups take their green technologies to the next level. By connecting them with business opportunities and expert mentors from UOB FinLab and our industry partners, we are providing the resources and support they need to thrive. Our aim is to help these companies develop practical solutions that make a real difference in addressing environmental challenges. We are committed to driving a significant impact and contributing to a more sustainable future for Thailand and the world.”
Mrs. Sansanee Huasomboon, Director of the Business Innovation Division at the National Science and Technology Development Agency (NSTDA) and one of this year’s programme mentors, added, “At NSTDA, one of our goals is to help GreenTech companies transform their ideas into products that can enter the market for traction and scale. I look forward to working closely with UOB as a mentor to provide guidance and to nurture these companies, in growing and bringing meaningful changes to their own and to clients’ businesses. I am excited to see how each company will bring a unique approach to devising solutions that can address real-world environmental challenges.”
Ms. Mayuree Aroonwaranon, Co-Founder & CEO of GEPP SA-ARD Co. Ltd, shared her enthusiasm, stating, “We are thrilled to be participating in UOB FinLab’s GTA programme this year. Through this programme, we aim to showcase our integrated waste technology solutions, gain valuable insights from mentor sessions on sustainability and the circular economy, and explore new business collaborations.”
Recognising the significant impact of the programme, The GreenTech Accelerator Programme by UOB FinLab Thailand has recently been honoured with the Prime Minister Award: Innovation for Sustainability 2024 at the Startup x Innovation Thailand Expo 2024 (SITE2024) hosted by the National Innovation Agency of Thailand. The award recognises the efforts of partners and relevant parties and encourages the development of initiatives to support businesses on their sustainability journeys.
The twelve Thai companies selected for the UOB FinLab Greentech Accelerator Programme 2024 are:
To learn more detail about the programme please visit, https://thefinlab.com/programmes/the-greentech-accelerator/
This sounds amazing! UOB is doing a great job pushing for sustainability.
While it’s promising, we should remember that GreenTech should not just be about ticking boxes for awards.
Agreed, the environmental impact should be tangible and long-lasting, not just a PR exercise.
That’s true. But even if it starts as a PR move, it could push other companies to follow suit, don’t you think?
How practical is this really? Most companies just do this for the good press.
Hey, even if it’s for the press, if it leads to real innovation, it’s a win-win!
You have a point, but with proper government regulations, these initiatives can create a real change.
HydroNeo’s success with shrimp farming is a great example of how effective these programs can be.
Shrimp farming? What about more pressing issues like deforestation?
Every small win counts. Solving niche problems can pave the way for broader solutions.
Exactly, both small and large-scale issues need attention.
Excited to see what innovations come from this! The energy sector needs all the help it can get.
Hope they have some solid ideas on renewable energy solutions. Fossil fuels need to go!
Renewables are great, but they also have their shortcomings. Let’s not put all our eggs in one basket.
True, but focusing on renewables can inspire new hybrid solutions as well.
Programs like this give me hope for my kids’ future. Kudos to UOB!
It’s impressive how they’re using masterclasses to educate GreenTech companies. Education is key in making sustainable change.
Why only 12 Thai companies? Shouldn’t this be more inclusive?
True, diversity brings better solutions. Perhaps they should increase the number in future programs.
The competition was tough with over 350 applicants, they probably chose the best ones.
Wow, 2.7 million baht is a substantial amount! Imagine the impact this could have!
Hopefully, it goes to genuinely impactful projects.
What does UOB get out of this? They must have some hidden agenda.
Even if they do, if it benefits the environment, who cares?
Corporations always have agendas. But if their goals align with sustainability, it’s a positive outcome.
Masterclasses by world-class mentors? Sounds like a great opportunity for these startups to learn from the best.
The focus on real-world sustainability issues like urban planning and waste management is commendable.
Urban planning is critical, especially with the rate cities are expanding.
Great to see regional cooperation in tackling global issues. ASEAN countries need to work together more often.
Love that they’re focusing on agriculture and food sustainability. These areas often get overlooked.
Yes! Sustainable agriculture is essential for our future.
What happens if these GreenTech companies fail their pilots? Is there a backup plan?
Failure is part of innovation. They learn and try again with better strategies.
I’m interested to see if any of these innovations can be scaled quickly. Time is of the essence.
UOB should also consider supporting existing companies transitioning to GreenTech, not just startups.
Excited for the future? This program could really turn things around for the environment.
Can’t wait to see how successful these GreenTech companies become over time. It feels like a turning point.