Back The Most Promising Companies in Asia and Beyond


ICORA is one of Asia’s leading advisory services based in Thailand.

ICORA is one of Asia’s leading advisory services based in Thailand. ICORA structures & enables campaigns for investment into companies with viable business models. We work with clients who are on the cutting edge of technology, clients with a proven track record and is embracing disruption, determined to adapt and evolve.



ICORA focuses on three core businesses, namely, ICO Portal, Fundraising Advisory, and Digital Asset and Blockchain Academy.

We actively work with companies to guide them through a compliant fundraising campaign to achieve the success they desire.

We assist our clients by addressing the market gaps of token sales credibility, valuation inflation, and regulatory risks by working with accredited accelerators and venture partners, employing investment banking’s best practices and engaging a progressive securities and exchange regulator in Asia to deliver results.





Dr. Alex Lin has been inspiring, investing and co-building startup accelerators in Singapore and the region. These accelerators have groomed over 380 startups, of which more than 170 of them have raised series-A funding. This has drastically changed Singapore’s startup landscape and raised Singapore’s startup ecosystem ranking from 17th to 10th within 2 years.


CEO & Co-Founder

Karndee is a business / engineering professor turned an innovation strategy advisor, and a startup/SME ecosystem builder. She has pioneered and led C asean, which has become one of the most powerful startup platforms in Southeast Asia. As a thought leader in Southeast Asia, she has been at the forefront of crafting & driving innovation policies in the region. Karndee has published books and various articles in the areas of innovation, startup development, and national competitiveness.

Lee Kwai

CTO/COO & Co Founder

Mr Lee (Kwai) is an experienced executive that has proven track records in both corporates and start-ups. Kwai was the Managing Director of AIRmaker, a seed-stage venture fund that operates an Accelerator Program as well as services for corporate open innovation. He has held senior executive positions at various multi-national companies in the IT, insurance, and telecommunications industries, focusing on growing their Asian markets. He has also founded several businesses in the distribution of electronic components, renewable energy and services for the chemical industry.



Dr. Santitarn Sathirathai is the Group Chief Economist of Sea Group, one of the leading tech unicorn companies in ASEAN and Taiwan that operates Garena, Shopee, and Airpay.

Prior to joining Sea, Santitarn was the Head of Emerging Asia Economics Research at Credit Suisse where he advised public and private investors, covering 10 economies. He was the only economist in Asia to have won the prestigious Best Economic Forecaster award by Consensus Economics for three consecutive years.



Prinn began his career as an analyst in the corporation finance department of ABN AMRO in London. He was appointed as Vice Chairman of the ASEAN-UK Business Forum during 2001 – 2005 and was active in promoting UK investments to ASEAN.

He is now leading CLSA Securities (Thailand) Limited and actively contributing on the executive boards of various organizations such as The Stock Exchange of Thailand (SET), National Innovation Agency (NIA), Electronic Transactions Development Agency (ETDA), and Association of Thai Securities Companies (ASCO). With his unique experience and knowledge, Prinn continually shares and contributes his wisdom to the public both in national and international forums and events.


CO-Founder & Director

Sirot now runs Exformat, an investment company focusing on new emerging opportunities on new emerging opportunities in the creative industry. He was a veteran investment banker with JPMorgan’s South East Asia with a focus on organization and execution of transactions in Thailand and Indochina. Prior to relocating to Thailand, Sirot was with JPMorgan’s Mergers & Acquisitions Group and HSBC Investment Bank in Hong Kong. He also served as independent direct for Major Development PLC and California Wow Experience amongst others, prior to joining the Ministry of Finance as secretary to the Minister of Finance 2009


CO-Founder & Director

Opal is the first generation of diversified businesses where she started with coating and building business and expanded her interests into power plant business. Currently, she is the Managing Director of Smart and Bright Co.,Ltd, Coating and building, Refinn international dot com(fintech), Four Leaves Clovers(real estate), and LMDH Sdn.Bhd and also Chief Executive Officer of Skymind Co.,Ltd. She is an experienced investors in deep technology.




As the Managing Director of The FinLab, Felix Tan has led his team to successfully run 3 acceleration cycles and now has 14 portfolio companies across 6 countries selected from more than 1,000 applications across 50 countries. He provides mentorship and guidance to the startups in sharpening of business models, strategic planning, and go-to-market strategies. Eight companies have been recognized at Singapore FinTech Festival in 2016 and 2017, and more than half have raised funds for the next stage of growth.



Prinya Hom-Anek has over 20 years of experience as an information technology (IT) and information security specialist, and consulting and training experience in network and data communication, cybersecurity, information security, fraud and forensic investigation, penetration testing,

ISMS, and generic information security consulting in both the public and private sectors. He is recognized as a pioneer in the field of information security in the Asia-pacific region.

He is an advisor to National Intelligence Agency on National cybersecurity issues.



Manida advises and represents clients in corporate, business and financial matters with special emphasis on mergers and acquisitions, debt restructuring, class action litigation, and civil and commercial disputes. She has advised on a number of major and high profile transactions involving debt restructuring, commercial disputes, and mergers and acquisitions, and advises on regulatory compliance throughout all stages of such transactions.



Chavapas Ongmahutmongkol is the co-Founder and Managing Director of PrimeStreet Advisory and PrimeStreet Consulting, a leading strategic and financial advisory firm. He is also a co-Founder of the Bangkok Venture Club, Thailand’s first accredited and largest active angel investor group. He is also co-founder of the HBS Alumni Angels, Thailand Chapter. Chavapas has extensive experience in helping prepare companies for an IPO as well as helping numerous leading publicly-listed firms chart their corporate, M&A, and fund-raising strategies. He is also an experienced angel investor with investments in several prominent startups.



Technical and Operation Lead

With years of experience in banking, investment with various financial instruments, intensive involvement and expertise in cryptocurrency trading, and ICO investment, Kevin is an advisor of Taiwan ICO project and is actively involved in advisory, management, and operations in various types of ICOs in the market.


Business Development Lead

Head of Business Development Lead at ICORA, a leading ICO Advisory firm based in Bangkok. Has an extensive experience in business and entrepreneurship, along with a deep understanding of cryptocurrency and blockchain technology. Heavily involved in the Thai Cryptocommunity and ecosystem. On a personal level invested in more than 20+ ICO.


Head of ICO Consulting

Rachel has been a management consultant and graduated with a Bachelor of Business Administration from IESEG School of Management, France and Accounting and Finance from the Nottingham Business School, UK


Business Analyst

Keith is recognized amongst peers as a strong team builder who adopts a collaborative approach with team members to exceed customer expectations and to deliver the best product. Gained a keen interest in business development, recognizing the need and importance of every individual unit within a company working together in harmony.


Compliance and Monitoring

Koses is currently working as compliance and monitoring at ICORA Co.,Ltd. Prior joining with ICORA, he had been working with various financial institution such as asset management, life insurance, securities company. He was a part of fund management team that manage 72 billion baht investment portfolio of life insurance company which involve with fixed income, equities, derivatives and complex return instruments. While he was working in asset management, He was mutual fund product manager who handle product design, prospectus filing, and monitor mutual funds regulation by SEC Thailand.


Blockchain Engineer

Shiwei is a Blockchain engineer and actively involved in blockchain communities in Singapore. He started to invest in bitcoin and cryptocurrencies in 2014. In 2017, he works as a DAPP developer for Ethereum. He has solid knowledge and experience on Ethereum smart contract, quorum, stellar, Raiden network etc. He has also involved in security screening of some blockchain project.


Corporate Administration Lead

Promporn is currently working as Lead of Corporate Administration at ICORA Co., Ltd. Before that, she worked as a Human Resource Manager with Eastern Economic Corridor (Government). She helped businesses in managing and developing their workflow and organization more efficiently. She is currently pursuing a Masters of Management in Human Organization at College of Management Mahidol University. She has strong communication and coordination skills, and has operated the most successful business courses in Thailand such as Cryptoasset Revolution, IDEA by UTCC, Spring up,  Ultrawealth 2, and  S100 by TU.


Head of Marketing

Thannicha had experienced of PR-Marketing ,Event organization for10 years. Many brand she had work on become big name in Thailand Market. She is run many project about SME /start up in Thailand. Project manager of the biggest Seminar “young self made millionaires Thailand” 2000 people in this event and Business class for young self made in Thailand “S100” about 100 business owner in this class very successful Business class in Thailand.


Financial Analyst

Sethapat Sethakarun is the Associate Director at PrimeStreet Consulting, a leading strategic and financial advisory firm. Sethapat has extensive experience in helping publicly-listed firms develop their corporate strategy, Investor Relation (IR) strategy as well as financial valuation and analysis, and M&A strategies.


  • End-to-end consultancy services for companies launching a token sales campaign
  • Due diligence and feasibility analysis of ICO issuers
  • Tokenomics & tokenization
  • Co-author / edit white papers, and pitch deck
  • Facilitation of ICO announcement and roadshows
  • Raise awareness & understanding of digital asset, Crytocurrrency, ICO & Blockchains to the general public
  • Provide fundamental understanding of blockchain, token economy through series of public and corporate in-house workshops



Back The Most Promising Companies in Asia and Beyond






An Initial Coin Offering (ICO) is a means by which funds are raised via the sale of blockchain smart contracts (tokens). In an ICO token sales campaign, tokens are sold for the purposes of:

  • Redeeming products or services, i.e. pre-selling at a discount controlled by the smart contract;
  • Borrowing money for business with the promise of returning the amount with interest or benefits over a defined period controlled by the smart contract;
  • Obtaining the rights of dividend distribution, i.e. profit sharing which is controlled by the smart contract;
  • Equity crowd funding, i.e. sales of share in the company.

ICO has gained widespread popularity as a means of financing for companies namely startups to raise capital for developing their business (i.e. build their MVPs [minimal viable products], develop their technologies, manufacture their finished products, etc.). In fact, ICOs have raised more than US$1.7 billion to-date (source: Coinbase).

Our launch announcement is lined up for 2018. Connect with us to be kept updated.

As our approach to listing quality ICO candidates involves partnering with reputable accelerators with a successful track record of grooming successful startups, we work through these partners throughout Asia for our candidate sourcing.

Our launch announcement is lined up for 2018. Connect with us to be kept updated.

The ICO market today is rife with its own set of problems ranging from token sales’ credibility, regulatory risk and valuation inflation. At ICORA, we address these market gaps with:

We partner with a highly progressive Securities and Exchange Commission (SEC) regulator in Asia to adhere to regulatory guidelines. Our crypto tokens are currently in the regulator’s active sandbox and screened to ensure they contain all the business terms and conditions promised.

There are typically 3 stages to an ICO – Announcement, Launch, Close.

The Announcement makes known that a company is launching an ICO token sales campaign. At this stage, information on the offer will be released, namely the Whitepaper, a dynamic document which serves as a business proposal (akin to a prospectus but NOT a prospectus) documenting crucial information on:

Our tokens are ERC-20 compliant. This means that they adopt the ERC-20 protocol standard. Security of the system pertains largely to the security of the crypto wallet rather than the token.

As the terms of each ICO differs one from another, there is no fixed type nor standard amount of benefit distribution across all ICO investments.

Backers and investors are advised to evaluate all terms and conditions stated in each company’s ICO whitepaper carefully to understand the benefit distribution structure expected.

As the terms of each ICO differs one from another, there is no standard benefits distribution time frame across all ICO investments.

Backers and investors are advised to review the terms and conditions pertaining to the benefits distribution time frame stated in each company’s ICO whitepaper carefully to understand the benefits distribution period.

Due diligence on companies listed by ICORA

ICOs listed on our website are companies with real customers, validated business models and technology from reputable accelerators with a successful track record of grooming successful startups. However, it does not stop there. Icora conducts its own due diligence and in-depth reviews with these candidates. Given this rigorous approach in ensuring the quality of the companies we list, our ICO candidates have a better chance of success and fulfilling the benefits distribution stated.

Right market pricing of ICOs

We adopt investment banking’s best practices to accurately price our ICOs within market acceptance levels. This ensures a fair value and not an arbitrary price based on the founders’ judgement.

Due diligence on tokens issued by ICORA

We partner with a highly progressive Securities and Exchange Commission (SEC) regulator in Asia to adhere to regulatory guidelines. Our tokens are currently in the regulator’s active sandbox and screened to ensure they contain all the business terms and conditions promised.

When suitable candidates are identified or recommended through reputable accelerators with a successful track record of grooming successful startups, we will take them through the following process:

Stage 1 – General due diligence

Startups are assessed based on the strength of their business, i.e. the problem they are attempting to solve, their customer base, the market size potential, current performance, etc. Concurrently, background checks are conducted to ensure the legitimacy of the company and its founders.

Stage 2 – Business and technology due diligence

When the startup clears Stage 1, they will be matched with our business advisors who will conduct further in-depth reviews with the company to go deep into their business models, technology, financials and fundraising requirements in order to structure the terms of the ICO. This is akin to the due diligence done by venture capitalists when putting up a case for investment.

Stage 3 – Investment banking best practices

When the business and technology due diligence is completed, the terms and conditions of the ICO are reviewed by our governance committee for the application of rules from investment banking best practices.

Stage 4 – Approval committee

The last stage for the startup to clear is the final decision by the approval committee. At this stage, the ICO whitepaper, complete with the terms and conditions of the ICO are submitted to the committee for their endorsement to proceed to list. The approval committee is made up of four [4] members with successful entrepreneurial backgrounds.

Stage 5 – Token due diligence

Once the startup obtains the final approval, our technical team proceeds with the generation of the tokens based on the terms and conditions stated in the ICO whitepaper. Prior to its release, these tokens are submitted and screened by the regulator to ensure that they contain all the business terms and conditions promised prior to being release on the launch date.

We are currently in talks with the same regulator to prepare for ICOs involving debt and equity crowd funding soon.




เตรียมความพร้อมไทยสู่ระบบเศรษฐกิจดิจิทัล​“ไอโคร่า” เปิดหลักสูตร “คริปโตแอสเซท เรโวลูชั่น” รุ่น 2 ตั้งเป้าธุรกิจสกุลเงินดิจิทัลไทยโตกว่า 500% ภายใน 3 ปี

 ปัจจุบันเรื่องของสกุลเงินดิจิทัล หรือ Cryptocurrency (คริปโต เคอเรนซี) รวมถึงกระแสการระดมทุนด้วยการเสนอขายเหรียญดิจิทัล หรือ ไอซีโอ กำลังร้อนแรงในโลกการเงิน และคนไทยก็หันมาให้ความสำคัญสนใจเริ่มลงทุนมากขึ้นหากแต่ว่าคนไทยยังมีความรู้ในเรื่องนี้ยังไม่มากพอ บริษัท ICORA บริษัทที่ปรึกษาให้กับธุรกิจที่ต้องการระดมทุนด้วยไอซีโอ ซึ่งประกอบด้วยบริการหลัก คือ ...

เผย 3 วิธีลงทุนระยะยาวใน Cryptoasset อย่างประสบความสำเร็จ ด้วยเงิน 200,000 บาท!!!

สวัสดีครับวันนี้ก็จะมาแนะนำในส่วนของ 3 วิธี การลงทุนใน Cryptoasset แบบระยะยาวว่าทำอย่างไรถึงประสบความสำเร็จยังและจะกำไรเท่าไรคุ้มค่ากับความเสี่ยงมั้ย เพื่อไม่ให้เป็นการเสียเวลาเพื่อนๆมาดูกันเลยครับ ...


Back The Most Promising Companies in Asia and Beyond

ICORA is one of Asia’s leading advisory companies which structures and stages campaigns enabling investment in business with viable and successful business models. Pulling from our pool of cutting-edge and innovative resources we provide business with the know-how they need with regard to fundraising, and ICOs, as well as digital assets and blockchain know-how. A vital part of this process are the highly skilled individuals who work with us, as without their dedications, strife and recognition that we as a network grow and learn together, this would not be possible.

If you think that you are well-aligned with ICORA’s platform or wish to engage in a meaningful career which allows insight into initiation, design and consultancy on the ever-changing world of technology, we would like for you to get in touch. Interested applications may contact us via the following form, and we will get back to you as soon as possible.