These Thai millennials hope to create the world’s next big PropTech startup

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4 promising proptech companies by some of Thailand’s youngest and brightest

Participants at the Excelrate – Real Estate Tech Weekend in Bangkok. Image credit: YoStartups

Property tech could be seeing its next big startup in the kingdom. This was the hope shared by organisers of the Excelrate workshop in Bangkok this March in Bangkok.

Thirteen real estate tech startups attended the three-day workshop held at the Innovation hub of organiser Chulalongkorn University and mounted by startup consultancy YoStartups. Four of these startups were declared winners at the end of the program and will be awarded access to mentoring and support from Chulalongkorn University, YoStartups, and its partner network, Inhab Real Estate Tech Accelerator.

The workshop has ten modules that introduces participants to the startup ecosystem and the fundamentals of starting one. “These ten subjects are the essence of startup business activities and every entrepreneur must know them before he or she ventures out to make a difference in a particular business vertical,” said associate professor Natcha Thawesaengskulthai, assistant to the president for strategy and innovation at Chulalongkorn University.

“We are all aware how to flow with the wind when the time is by your side, but the real test of entrepreneurship comes when you face difficult and contrary market conditions,” said Sorapop Kiatpongsan, assistant to the president for research and innovation at Chulalongkorn University.

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“The addition of modules on how to be Optimistic and managing tough situations helped the future Thai entrepreneurs to be better equipped in dealing with the challenges of entrepreneurship.”

The winners of the workshop were AIRPORTELs, a luggage service that delivers baggage straight from airport to hotel; Homey, a mortgaging platform that matches home buyers with the appropriate home loan; FiRSTPrOP, a real estate marketplace that connecting the buyers and sellers on its platform, eliminating agents; and Alto, a personal assistant speaker, powered by a natural language processing (NLP) algorithm, for seniors.

“Thai entrepreneurs have a huge market among the ASEAN countries to capture. The sector, which has remained untapped till now, has shown an immense potential,” said Jappreet Sethi, co-founder of YoStartups.

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