Government Savings Bank (GSB) launched GSB SMEs Startup Contest under the concept of “BIG BOOM WOW:Get Started, Fast & Possible,” offering initial funds worth over 3 million Baht to winners. And this year, GSB added an incentive by providing 1-2 year interest free business loans to 100 finalists. Entries can be submitted now until September 30, 2019.
Dr. Chatchai Payuhanaveechai, President & CEO of Government Savings Bank (GSB), said GSB launched GSB SMEs Startup Contest under the concept of “BIG BOOM WOW: Get Started, Fast & Possible”for the 7th consecutive year to support new generations, SMEs or startups aged below 35 years old to introduce their creative business ideas, prototypes and innovative products that can generate some revenue. Winners will be awarded initial funds worth over 3 Million Baht in total.Interested persons can apply now until September 30, 2019. Entries will be presented and finalists will be announced on December 1, 2019. Additionally, for this year, 100 finalists will have an opportunity to join business workshops and apply for interest-free business loans for 1-2 years, with up to 10 Million Baht credit limit, and may access GSB’s venture capital (VC).
“GSB SMEs Startup Contest is a stage of opportunities as GSB aims to support new generations who have creative, outstanding and different business idea to showcase their works. This will enable them to further develop their own business effectively. GSB is ready to offer all supports to these future entrepreneurs through our incubation process, business seminars, business matching which can lead to business partnership as well as joint venture through the Bank’s venture capital and loan. In accordance with the Government’s policy, GSB is committed to help small and medium-sized enterprises or SMEs, enabling them to access funds and boost their potential, strength and competitiveness,” said GSB President & CEO.
During the last six years, this contest received entries from 7,155 teams nationwide, totaling 15,231 applicants. More than 109,500 persons show their interests in the contest, and all these numbers are growing each year.
GSB SMEs Startup Contest offer prizes worth 3 Million Baht including:
Grand prize: 1,000,000 Baht
First runner-up: 500,000 Baht each
Second runner-up: 200,000 Baht each
7 Honorable Mention Prizes: 100,000 Baht each, and 100 finalists will receive 5,000 Baht each
Best Innovation Prototype, 3prizes:
Best Innovation Prototype No.1:100,000 Baht
Best Innovation Prototype No.2:50,000 Baht
Best Innovation Prototype No.3:30,000 Baht
Best Innovation Idea, 3prizes:
Best Innovation Idea No.1:50,000 Baht
Best Innovation Idea No.2:30,000 Baht
Best Innovation Idea No.3:20,000 Baht
Participants will obtain some great opportunities and benefits including business funds, and knowledge through business workshops for 100 finalists. Then, the judging panel will select 30 finalists, who will be coached intensively by gurus (1 guru coaching 3 teams). Later, these gurus will select 10 finalists.The ten finalists will join a study trip abroad to enhance their experiences and get ready to be entrepreneurs.
Interested persons can see more information, download application or follow contest updates at www.gsb100tomillion.com or www.facebook.com/gsb100tomillion. LINE@gsb100tomillion For further information, please call 092 247 0426-8.