15 SMEs have been selected to participate in Thailand’s first Smart Business Transformation Programme.

The programme is being run by The FinLab in collaboration with the Digital Economy Promotion Agency (DEPA), National Science and Technology Development Agency (NSTDA) and the Office of SMEs Promotion (OSMEP).

The 15 SMEs selected were chosen from a list of 150 applicants in Bangkok. The chosen SMEs are from a wide range of sectors such as food and beverage, retail, travel, logistics and manufacturing. They were chosen in recognition of their acute awareness of their business constraints and challenges, as well as for their openness to explore new ideas and to use digital tools for scaling new heights in their business.

The Smart Business Transformation Programme is UOB (Thai) and The FinLab’s way to help SMEs utilise digital solution resources to improve their online marketing efforts and to help streamline business processes. This will enable them to reach more customers in Thailand and expand into new markets.

The SMEs will attend a series of workshops on various topics conducted by industry experts from May to June 2019 to gain the know-how and to learn about the digital tools they can use for their business.

They will then be matched with The FinLab’s curated list of solution providers to pilot solutions that are relevant to their businesses.

Each of the selected SMEs will receive US$31,569 (THB1,000,000) worth of value through the workshops, professional training, mentorship and publicity garnered from the programme.

“Our more than eight decades of experience in supporting SMEs gives us a deep understanding of the opportunities and challenges that they are facing today and will possibly encounter in the future”, said UOB (Thai) president and chief executive officer Tan Choon Hin.

“We understand that many SMEs are concerned about the complexity of implementing digital solutions and their lack of the requisite capabilities. With digitalisation becoming a game changer in almost every business, we want to help them overcome the barriers and harness technology to drive business performance. The Smart Business Transformation Programme will equip the participating SMEs with the digital skills and tools they need to stay ahead in the digital economy”, he added.

The programme started on 21 May, 2019 and the 15 participating SMEs will complete the programme in August 2019.