It is notable because it is the brought to the ecosystem by a Thailand state-owned Oil & Gas giant

A new accelerator programme launched in Thailand today provides yet another data point highlighting the influence the startup economy is having in Southeast Asia.

PTT Group, a state-owned energy company has partnered with RISE Accel Co., to launch a regional accelerator for corporates and startups in Southeast Asia. It will be named ‘D-NEXT by PTT Digital x RISE’.

The programme will include a roadshow across Indonesia, Malaysia, Singapore, Thailand and Vietnam and they are searching for 15 startups to participate.

D-NEXT will last for three months, it is free of charge and startups will not need to give up equity to participate.

Some of the perks include mentorship from PTT Group and RISE and opportunities to pitch to PTT Group and regional investors.

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The reason it is notable is because PTT Group is a traditional corporation that has grown into one of Thailand’s largest companies. Its core business is a network of petroleum pipelines in Thailand, but it also owns a significant stake in a Singaporean coal mining company and a chain of petrol stations in the Philippines.

D-NEXT signifies how far the startup economy has come over the past five years. Half-a-decade ago, these types of legacy companies rarely were interested in these types of startup programmes.

“PTT Group realizes the importance of the digital application on the operation which will lead to a significant change on the company’s growth in the future,” said Chansin Treenuchagron, the Chief Technology and Engineering Officer at PTT Group in a statement.

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He added that a major goal of the programme is to train startups to make an international push, which is a goal of Thailand 4.0, the country’s digital economy policy.

Startups can apply through the link here. Applications open today and close on March 9.

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