On 8 August 2024, Assoc. Prof. Dr. Natcha Thawesaengskulthai, Principal Investigator of the IDE Mentoring Operating Model Development project by NXPO, delivered a keynote speech at Techsauce Global Summit 2024. Her talk, titled “The Mentoring Engine: Driving Innovation and Scale-Up Success with Coach, Cash, Connect”, was among highlights of Southeast Asia’s most significant tech event, held from 7 to 9 August 2024, at the Queen Sirikit National Convention Center.
Dr. Natcha discussed how a mentoring system can mitigate risk, ensure successful fundraising, and drive business expansion, ultimately fostering a sustainable economy and society. These conclusions were drawn from a joint study conducted by NXPO in collaboration with Chula Unisearch of Chulalongkorn University to develop the IDE Mentoring Operating Model. This model aims to accelerate the growth of innovation-driven enterprises (IDEs) in Thailand. The initiative also seeks to establish a mentorship network and develop policy recommendations to sustain the model.
The study identified challenges within the IDE ecosystem which include a shortage of early-stage funding, limited market access, reliance on government funding, and a lack of public-private collaboration. These challenges arise from three main factors: the quality of the founder and team, product-market fit, and inadequate supportive systems such as regulatory barriers, inconsistent funding, and lack of continuity.
Dr. Natcha proposed strategic collaboration among key players in the ecosystem, including enterprises, investors, mentors, academia, government, and legal supporters, to unite under the themes “One Goal One Team” and “Team Thailand”. She emphasized the importance of a “Coach, Cash, Connect” mentoring system that offers long-term consultation to develop world-class entrepreneurs, access to capital, and resources connections to create opportunities for business expansion. The white paper of this study is available at: https://www.nxpo.or.th/th/wp-content/uploads/2023/10/2023-IDEs-Mentoring-System-Coach-Cash-Connect.pdf
