Line Scaleup looks to find SME unicorn
Line Thailand has introduced Line Scaleup, a programme aimed at helping local startups capitalise on innovative business by providing their services to millions of Line users.
Ariya Banomyong, managing director of Line Thailand, said most Thai startups are still at the seed level and the country lacks a unicorn — a major startup going regional or global.
One significant missing factor is scalability.
Among the excessive number of apps created for Google Play, which has 28 million apps, and Apple’s App Store, which has 22 million, most users only download 32 apps for their phone, and only use 3-5 regularly.
“Users face an app overflow, while developers and startups struggle to make their apps visible,” said Mr Ariya.
“Line Scaleup will help local startups scale and leverage Line’s 42 million users, who, on average, use it 63 minutes per day.
That will help develop a service ecosystem for Thai users of the Line platform.”
He said the three key drivers of Line Scaleup are plugging into the Line platform, technical capabilities and funding opportunities.
Under the Line Scaleup programme, the company will accept applications yearround from startups that have the potential to develop a new product or service integrated on the Line platform. The company will provide a Line@Pro+ account, with Line-messaging API serving as the main tool to develop a product or service, along with technical support from Line’s engineering team.
All of these benefits will be offered in varying degrees to startups, based on their capabilities and performance.
Mr Ariya said Line has no startup target number for the programme.
“Based on traction and potential, some startups under Line Scaleup might become strategic partners, co-developing Line services,” he said.
“We have also set up a US$10 million fund for Thailand, and we are interested in one day acquiring Thai startups.”