Asiola

Last updated
Asiola
Asiola logo.png
Type of business Private
Type of site
 Crowdfunding
Headquarters Thailand
Founder(s) Jon Lor
Sanji Tandan
Chris Hwang
Pranitan “Pete” Phornprapha
Montonn “Jay” Jira
Khanngoen “Khan” Nuanual
Website asiola.com
LaunchedNovember 24, 2015;3 years ago (2015-11-24)

Asiola is an online crowdfunding platform built to support creative and community-driven ideas in Thailand. [1] It was launched in 2015 in Bangkok by a group of founders comprising technology experts, music industry experts and artists in response to Thailand's burgeoning startup scene. Their aim was to provide a way for fledgling ideas to gather attention and get funded. [2]

Crowdfunding is the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet. Crowdfunding is a form of crowdsourcing and alternative finance. In 2015, over US$34 billion was raised worldwide by crowdfunding.

Thailand Constitutional monarchy in Southeast Asia

Thailand, officially the Kingdom of Thailand and formerly known as Siam, is a country at the centre of the Southeast Asian Indochinese peninsula composed of 76 provinces. At 513,120 km2 (198,120 sq mi) and over 68 million people, Thailand is the world's 50th-largest country by total area and the 21st-most-populous country. The capital and largest city is Bangkok, a special administrative area. Thailand is bordered to the north by Myanmar and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the west by the Andaman Sea and the southern extremity of Myanmar. Its maritime boundaries include Vietnam in the Gulf of Thailand to the southeast, and Indonesia and India on the Andaman Sea to the southwest. It is a unitary state. Although nominally the country is a constitutional monarchy and parliamentary democracy, the most recent coup, in 2014, established a de facto military dictatorship under a junta.

Bangkok Special administrative area in Thailand

Bangkok is the capital and most populous city of Thailand. It is known in Thai as Krung Thep Maha Nakhon or simply Krung Thep. The city occupies 1,568.7 square kilometres (605.7 sq mi) in the Chao Phraya River delta in central Thailand, and has a population of over eight million, or 12.6 percent of the country's population. Over fourteen million people lived within the surrounding Bangkok Metropolitan Region at the 2010 census, making Bangkok the nation's primate city, significantly dwarfing Thailand's other urban centres in terms of importance.

Contents

Asiola's vision is to provide a platform for ideas worth supporting and connect creators of ideas with an audience. Supporters receive rewards in return for their contribution towards a campaign's funding goal and if a campaign is successful, rewards are delivered and the campaign is executed. [3] Asiola welcomes ideas that are innovative and have potential to make a positive impact on communities in Thailand.

Founders

Asiola was founded by an international team [4] including:marketing specialist Jon Lor (CEO), Sanji Tandan - former managing director of Warner Music, IT specialist Chris Hwang (CTO), social entrepreneur Pranitan "Pete" Phornprapha, Thai musician Montonn "Jay" Jira and Khanngoen "Khan" Nuanual of Thai rap group, Thaitanium.

Chief executive officer Highest-ranking corporate officer or administrator

The chief executive officer (CEO), or just chief executive (CE), is the most senior corporate, executive, or administrative officer in charge of managing an organization – especially an independent legal entity such as a company or nonprofit institution. CEOs lead a range of organizations, including public and private corporations, non-profit organizations and even some government organizations. The CEO of a corporation or company typically reports to the board of directors and is charged with maximizing the value of the entity, which may include maximizing the share price, market share, revenues or another element. In the non-profit and government sector, CEOs typically aim at achieving outcomes related to the organization's mission, such as reducing poverty, increasing literacy, etc.

Warner Music Group American global music conglomerate

Warner Music Group Inc. (WMG), also known as Warner Music, is an American multinational entertainment and record label conglomerate headquartered in New York City. It is one of the "big three" recording companies and the third largest in the global music industry, after Universal Music Group (UMG) and Sony Music Entertainment (SME). Formerly part of Time Warner, the company was publicly traded on the New York Stock Exchange until May 2011, when it announced its privatization and sale to Access Industries, which was completed in July 2011. With a multibillion-dollar annual turnover, WMG employs more than 3,500 people and has operations in more than 50 countries throughout the world.

Thaitanium is a Thai American hip hop music group. Among the first of Thai rap artists, the group formed in 2000 by K.H. - Khanngoen "Khan" Nuanual, P. Cess - Prinya "Way" Intachai, Sunny Day - Nay Mayo "Day" Thot.

Model

Currently, Asiola operates on a rewards-based crowdfunding model, where funds are raised for a project by supporters who invest in an idea that inspires them by pledging a contribution in return for a reward. These can be tangible products or items, or intangible rewards like services or, in the case of community-driven campaigns, a sense of being part of something worthwhile. [5] There are two types of campaigns: all-or-nothing and unconditional.

All-or-nothing campaigns

These are campaigns that must reach their funding goal within the allotted time period. If they do not reach their target before the campaign deadline, the project is not funded, supporters do not get charged and do not receive their rewards.

Unconditional campaigns

Any and all funding raised towards an unconditional campaign goes to the campaign creator and supporters receive their rewards after the campaign deadline, whether or not the campaign reached its funding target. [6]

The founders cite plans to expand the model to incorporate equity-based crowdfunding in the future. [5]

Equity crowdfunding is the online offering of private company securities to a group of people for investment and therefore it is a part of the capital markets. Because equity crowdfunding involves investment into a commercial enterprise, it is often subject to securities and financial regulation. Equity crowdfunding is also referred to as crowd-investing, investment crowdfunding, or crowd equity.

Launch

The official launch of Asiola took place on 24 November 2015 and featured panel discussions from the team of founders, Khun Teeranun Srihong, President of Kasikorn Bank. [7]

Campaigns

2017

In January 2017, volunteers Ken and Fai successfully funded "Operation Clean-up", raising 239,301 baht to put towards building new bathrooms at Ban Katiad School in Ubon Ratchathani. [8] Creative Designer of Wonderfruit, Adam Pollina crowdfunded and built Wonder Kar - the festival's first moving art installation. [9] In February, Ookbee Comic Books artists, MOYOYA, NALU and FAHFAHS raised 92,000 baht (110% of their funding goal) to put on an exhibition of their combined works at Siam Square in Bangkok. [10]

2016

In 2016, notable campaigns included Thaitay Rap Boot Camp - a hip hop workshop with Thai rap group Thaitanium. [2] The group raised 104% of the funding goal and the event took place at Rockademy Thailand in April 2016. [11] Street Strength - an urban dance and fitness event, was conceived by WeGotTheSpot. They raised 134% of the funding goal and the event, which brought together dancers, fitness and martial arts enthusiasts for workshops, competitions and performances, took place in April 2016. [12] Street artist Alex Face crowdfunded Peace for Bangkok - a public art project. [2] The campaign reached 132% of its funding goal and the artist completed the large-scale mural in central Bangkok in May 2016. [13] Thai musician Montonn Jira raised 1033% of his funding goal to throw Bangkok's first ever "Techno Pizza Party". [14] Young Presidents' Organization (YPO) successfully raised 101% of their funding goal for Right to Breathe, a campaign to tackle northern Thailand's haze problem through education programs among young Thai farmers. [15] Street photographer S.S.V.S raised 109% of his funding goal to rebuild a school in Loei province; [16] Khan Nuanual hit 108% in his campaign to build proper housing for the monks at remote forest temple, Wat Klang - also in Loei. [17] Towards the end of the year, Immanual Music School raised 218% of their funding goal for "From Klongtoey to Concert Hall" and put on a concert featuring young, disadvantaged musicians. [18]

2015

The platform's first campaign to be successfully funded was "Into the Wind", an art installation by Thai artist "O" Witaya Junma, which appeared at Wonderfruit festival in December 2015. [19]

Related Research Articles

Beer in Thailand

Brewing beer in Thailand began in 1933 with the granting of a brewing license to 57-year-old Phraya Bhirom Bhakdi, born Boon Rawd Sreshthaputra. His company, Boon Rawd Brewery, produces Thailand's oldest and best-known lager, Singha. Singha is sold in Thailand in standard, light, and draught versions.

Wang Saphung District District in Loei, Thailand

Wang Saphung is a district (amphoe) in the central part of Loei Province, northeastern Thailand. The district has been the site of a long-standing dispute between the villagers of Ban Na Nong Bong and its environs and Tungkum Limited, a subsidiary of Tongkah Harbour PCL. Tungkum extracts gold from an open pit mine in district and has been charged with environmental destruction by many of those living nearby.

Bangkok Art and Culture Centre Contemporary Art, museum in Pathum Wan, Bangkok

Bangkok Art and Culture Centre is a contemporary arts centre in Bangkok, Thailand. Art, music, theatre, film, design and cultural/educational events take place in its exhibition and performance spaces. The centre includes cafes, commercial art galleries, bookshops, craft shops, and an art library. It is intended as a venue for cultural exchange, giving Bangkok an operational base on the international art scene. The number of visitors has risen from 300,000 in BACC's first year in 2007 to 1.7 million visitors in 2017.

Fan-funded music is a type of crowdfunding that specifically pertains to music. Often, fan-funded music occurs in conjunction with direct-to-fan marketing. Fans of music have the option to donate and collectively raise money with the goal of jump-starting the career of a given musical artist. The fan-funding of music occurs primarily through web-based services using a business model for crowdfunding. Fans are typically given rewards based on their monetary contributions.

Indiegogo crowdfunding website

Indiegogo is an American crowdfunding website founded in 2008 by Danae Ringelmann, Slava Rubin, and Eric Schell. Its headquarters are in San Francisco, California. The site is one of the first sites to offer crowd funding. Indiegogo allows people to solicit funds for an idea, charity, or start-up business. Indiegogo charges a 5% fee on contributions. This charge is in addition to Stripe credit card processing charges of 3% + $0.30 per transaction. Fifteen million people visit the site each month.

Pozible

Pozible is an Australia-based crowdfunding platform and community-building tool for creative projects and ideas. It was developed to help people raise funds.

Thai hip hop is hip hop music made in Thailand. Pioneer artists by Joey Boy and popular hip hop artists of Thailand include Dajim, Southside, Fukking Hero, Sing Neua Seua Tai, Buddha Bless, Thaitanium, Youngohm and PMC.

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Crowdfunding is a process in which individuals or groups pool money and other resources to fund projects initiated by other people or organizations "without standard financial intermediaries." Crowdfunded projects may include creative works, products, nonprofit organizations, supporting entrepreneurship, businesses, or donations for a specific purpose. Crowdfunding usually takes place via an online portal that handles the financial transactions involved and may also provide services such as media hosting, social networking, and facilitating contact with contributors. It has increased since the passage of the Jumpstart Our Business Startups (JOBS) Act.

Video game development has typically been funded by large publishing companies or are alternatively paid for mostly by the developers themselves as independent titles. Other funding may come from government incentives or from private funding.

Fundable is a fee-based crowdfunding platform that offers both rewards-based and equity-based campaigns for small businesses.

Tongkah Harbour Public Company Limited is a mining company and property developer in Thailand. The company was listed on the Stock Exchange of Thailand (SET:THL) in 1993.

Crowdcube is a British investment crowdfunding platform, established by Darren Westlake and Luke Lang in 2011.

Invesdor is an equity-based crowdfunding platform based in Helsinki, Finland. The company was founded in May 2012. Invesdor has been reported as being the first equity-based crowdfunding service in Northern Europe. It operates as a matching service between investors and companies.

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MusicBee is a crowdfunding platform focused on independent music based in Hong Kong. The company stated its mission as to gather resources and help bring independent music projects into life, providing musicians with dreams and opportunities. MusicBee has reportedly received $2 million funding over 15 music project within one year.

Wonderfruit is an annual arts, music and lifestyle festival that takes place at The Fields at Siam Country Club, outside Pattaya in Chonburi Province, Thailand. With an emphasis on participation and inclusion plus sustainability and social responsibility, the event features musical performances, art installations, workshops and talks, plus banquets by renowned chefs. The event was launched in December 2014, produced by Thai-based production company Scratch First; the second iteration expanded from three to four days and took place a year later. Wonderfruit 2016 was originally scheduled for 15–18 December 2016. Due to a period of mourning in Thailand following the passing of His Majesty King Bhumibol Adulyadej, however, it was postponed to 16–19 February 2017. Wonderfruit returned later that year for its fourth iteration in its usual winter position over 14 to 17 December 2017. December 2018 saw the event move a kilometre east of the original site, to a larger, more topographically diverse space; the fifth edition took place from 13 to 16 December 2018.

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Crowdfunded journalism is journalism that is financially sourced by the collection of donations from the general public. Crowdfunding is typically related to crowdsourcing because there is dependence from a larger group or crowd. The audience can judge and support the works of journalists who decide to use crowdfunding as a financial platform, by donating a sum of money. In the rapidly changing field of media, journalist have faced challenges with numerous media closures and budget cuts because of media concentration and ownership and a technological shift towards news content from the Internet. The decrease of journalism and the lack of available jobs, crowdfunding has become a way in which journalists can financially stabilize their careers independent from corporate media. Crowdfunded journalism can be found on popular crowdfunding websites such as gofundme, kick-starter and Awesome Journalism.

References

  1. ↑ "Asiola teams up with HUBBA Thailand to launch series of crowdfunding workshops". Techsauce.co. Techsauce. Retrieved 10 June 2016.
  2. 1 2 3 "The Wisdom of Crowds". Bangkok Post. Bangkok Post. Retrieved 30 April 2016.
  3. ↑ "On Asiola, Superfans Support Artists for Swag and Goodies". Khaosod. Khaosod English. Retrieved 18 April 2016.
  4. ↑ "Be a Part of Life". Nation Multimedia. Nation Group. Retrieved 17 December 2015.
  5. 1 2 "KBank to be payment gateway for crowdfunding platform". Nation Multimedia. Nation Group. Retrieved 25 November 2015.
  6. ↑ "How it works". Asiola. Asiola. Retrieved 1 October 2016.
  7. ↑ "Launching Asiola". Asiola. Asiola. Retrieved 3 December 2015.
  8. ↑ "Campaign funded: Operation Clean-up". Asiola. Asiola. Retrieved 23 Jan 2017.
  9. ↑ "The Beautiful Gifts of Thailand's Wonderfruit Festival". No Fear of Missing Out. No Fear of Missing Out. Retrieved 21 Feb 2017.
  10. ↑ "Campaign funded: LOVE IS? Exhibition". Asiola. Asiola. Retrieved 30 January 2017.
  11. ↑ "Campaign Funded: Thaitay Rap Boot Camp". Asiola. Asiola. Retrieved 5 April 2016.
  12. ↑ "Campaign funded: Street Strength Bangkok". Asiola. Asiola. Retrieved 7 April 2016.
  13. ↑ "Campaign Funded: Peace for Bangkok". Asiola. Asiola. Retrieved 9 May 2016.
  14. ↑ "Techno Pizza Party Recap". Asiola. Asiola. Retrieved 24 August 2016.
  15. ↑ "Campaign funded: Right to Breathe". Asiola. Asiola. Retrieved 1 August 2016.
  16. ↑ "Campaign funded: Project for charity by S.V.S.S." Asiola. Asiola. Retrieved 1 July 2016.
  17. ↑ "Campaign funded: Tumboon Dai Boon (TBDB) by Khan Thaitanium". Asiola. Asiola. Retrieved 12 October 2016.
  18. ↑ "All the action from when we went "From Klongtoey to Concert Hall"". Asiola. Asiola. Retrieved 14 December 2016.
  19. ↑ "Campaign funded: Into the Wind by "O" Witaya Junma". Asiola. Asiola. Retrieved 1 December 2015.
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