Nexus Technology Program
Program Description
The Nexus Technology Program (“Nexus”) is a joint program offered by Proteus Technologies (“Proteus”) and Karon Business Consulting (“KBC”), both Thai-registered companies headquartered in Bangkok, Thailand. Nexus provides the critical elements missing from Thai technological entrepreneurship that has prevented Thailand from attaining its potential of becoming a recognized center of innovative technology-based growth companies. Although there is limited available capital for Seed and Series B venture funding, it is often on unfavorable terms and not oriented towards technology companies. Series A funding is almost nonexistent even for qualified technology companies. Angel investors experienced in building technology startups and capable of providing Seed and Series A funding to allow them to go to market are almost completely absent in Thailand.
The purpose of Nexus is to fill this gap. To accomplish this mission we intend to establish and develop fruitful relationships between young Thai technology companies, government agencies with mandates to promote and sponsor local technology activities and private funding entities both local and foreign. The idea to commence our business is born out of the recognition that there needs to be an effective bridge between the three groups to achieve the mutually beneficial goal of providing an effective process in which the most appropriate structure and level of financing is secured for the most promising technology companies in areas targeted for promotion. Currently the environment for funding technology startups can be best described as 'dysfunctional'. Most inexperienced, but promising, technology companies are both unaware of the available funding opportunities and ill-prepared to successfully present their businesses to such funding sources. Most prospective funding entities are, likewise, incapable of identifying and selecting technology companies that offer the best investment opportunities. Well-intentioned government agencies often are not in the best position to provide effective guidance and support to young technology companies beyond the initial incubator stage of development nor prepared to offer effective business-related advisement.
Our objective is to develop mutually beneficial relationships with both public and private promotional and funding entities and identify a select group of young technology firms as ideal funding candidates. We will provide hands-off guidance to such promising technology companies whereby we offer them guidance on the business aspects of their business, allowing them to freely develop their products and services. We will also serve as credible and vested representatives on their behalf in securing funding at all stages of their business development.
Program Advisors
The Chief Advisors of Nexus are Benjamin Scherrey and David Shelters.
Benjamin Scherrey, the Chief Technology Advisor of Nexus, started his first business in 1989 quite by accident. Known for being able to deliver complex computing systems into operation under tight deadlines with high reliability; he discovered that most of his efforts were focused on building the development model, team and infrastructure rather than actual programming. Since then he has built software development groups for other companies around the world until starting his own, Proteus Technologies. His focus is on identifying strong talent and carrying fresh concepts to market.
David Shelters, the Chief Financial Advisor of Nexus, has fourteen years of successful entrepreneurial and corporate experience in the areas of investment banking, strategic planning, media technology and business brokerage. He brings vast experience in planning and fund-raising for companies throughout all stages of business development. His focus is on identifying the most suitable financial partners on the most favorable terms for participants in the Nexus program.
Both chief advisors have a strong desire to facilitate and witness the success of promising young entrepreneurs whose businesses create both economic and social benefits to society.
Services
Nexus will directly perform the following functions on behalf of selected technology start-ups:
Assessor of the commercial viability of a technology firm’s products and services.
Counselor in the conception of business objectives and strategies, preparation of presentation materials and identification of possible exit strategies.
Introducing Agent to funding sources and public incentive and promotion programs.
Credible Negotiator – To secure for client the best possible funding terms from the most advantageous funding sources.
Relationship Manager – We help manage the relations amongst the multiple funding sources, promoting agents and incentive grantees to efficiently leverage the strengths and capabilities of each one.
Our clients will enjoy the following partnering advantages:
1. Experienced advisor and negotiator who share the same vested interests.
2. Effective Fund Raiser with access to a wide variety of funding sources.
3. No impact on cash flow
4. Chance to develop into viable business without losing control
In addition we provide the following valuable services to both government agencies and private funding entities:
For public agencies we provide tangible results that demonstrate that they:
1.Have accomplished their mission statement
2.Stronger ROI for funding/grant programs
For the Capital Community we offer:
1. Early access to vetted, qualified technology startups
2. Fully qualified opportunities that meet investment criteria
3.Presentation of funding prospects in a professional manner and format
Program Process
We intend to identify the most promising funding candidates through attendance/sponsorship of technology-related trade shows and continual engagement with technology-related public agencies and educational institutions.
Upon formal selection a Partnership Agreement will be executed between Proteus, KBC and selected Funding Candidates. In return for a commitment to perform the offered services both Proteus and KBC will be granted minority equity interests. Upon a successful raise of funds secured thru Nexus, Proteus and KBC will share a Contingency Fee payable by funding candidate as a percentage amount of funds raised.
How are we Different?
Currently there is no comparable entity in Thailand. We differentiate ourselves by serving as a vested partner with our selected clients throughout all the successive stages of their business development. We are their partners from, “Incubation to Exit Strategy.”
Summary
Given the current lack of engagement between promising start-ups and prospective investors and the “Funding Gap” at the Series A Level we believe we are in an excellent position to provide value-added service to all relevant parties and serve a public good. Our intention is to do no less than permanently change the venture fund raising environment in Thailand in a way that will benefit all participating parties and secure for Thailand a positive image as a center for technological innovation.
To apply or learn more about the Nexus project you can send an email to nexus@proteus-tech.com or read more about it on the blog .
