True Incube has launched the application process for its sixth cohort and is again looking for startups that offer synergies with the corporate and its parent, Charoen Pokphand Group.
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.