Ninety-five percent of all startups fail. Only seven percent of venture capital funds are allocated to women. In Thailand, most startups are acquired during their initial stages. Many startups face cash flow problems, and their sales cycles are often too long. If innovation were easy, everyone would do it.
These were some of the insights shared by Thailand’s acclaimed startup pioneer, Sharinee ‘Shannon’ Kalayanamitr, during the inaugural lunch talk organized by the Chulalongkorn School of Integrated Innovation (CSII) on September 19, 2023.
Visiting CSII to deliver the talk, Shannon retraced her entrepreneurial journey, asking thought-provoking questions about why people launch startups. “Is it because they want to build something, solve a significant problem, make an impact, or perhaps a combination of these reasons?” From working in finance and banking to delving into technology, e-commerce, and venture capital, from launching her own women-focused e-commerce platforms to now leading 5G Catalyst Technologies with the focus on smart city healthcare solutions, Shannon has seen it all. “I’ve observed patterns of what works and what doesn’t,” she shared with an engaged audience eager to glean insights from her experiences.
“I wish we’d had a program like yours when I was studying; it wouldn’t have taken me so long to acquire these skills,” she quipped, noting the enthusiasm of CSII students currently enrolled in its four-year flagship program, the Bachelor of Arts and Science in Integrated Innovation (BAScii). Emphasizing the opportunities presented by AI, she noted that most of the world is learning AI simultaneously, leveling the playing field for everyone. One reason Thailand has so few unicorns is that many startups are acquired during their Series A or B rounds long before they can progress to Series C, D, or E. Additionally, she pointed out that startups often falter due to disagreements among co-founders. “Very few cofounders see the entire journey through together,” she added.
Noting that equality and diversity have played pivotal roles in her life, Shannon emphasized the core values of sustainability, resilience, and impact that have steered her journey. Accompanying her to CSII was Professor Chieanchueng Audi Kalayanmitr. In addition to being an entrepreneur, he is an adjunct professor at Curtin University and serves on the Board of Directors at the Engineering Institute of Thailand.
Welcoming both visitors to the event was Professor Worsak Kanok-Nukulchai, Executive Director of the Chulalongkorn School of Integrated Innovation. “We prepare students for a rapidly changing and largely unknown future, equipping them with 21st-century global skills that enable them to adapt to future shifts,” Professor Worsak explained, shedding light on the rationale behind the establishment of the new School. “Though we were only founded in 2018, we have rapidly expanded by adopting the ‘speedboat model,’ which emphasizes speed and agility,” he added. Dr. Warinya Chemnasiri, Director of Academic Affairs at CSII delved into key aspects of CSII and its BAScii program, emphasizing the innovative curriculum revision currently in progress.
Following Shannon’s talk, there was an interactive session where students sought advice and guidance on various facets of the startup ecosystem.
