i+MED Laboratories

When Komkrit Sajjaanantakul and Witune Arayapipatkul met while doing an executive university course, little did they know that more than 10 years later they would be running a thriving, innovative biotechnology business. Now, producing high quality rapid diagnostic tests for pregnancy, fertility, infectious diseases and drug abuse from their own factory, i+MED are looking to make an international breakthrough. Director spoke to managing director Komkrit and executive director Witune to find out how they got to this stage, and where they go from here.

Komkrit: We met while doing our masters at Chulalongkorn University’s Executive MBA program, during the Tom Yum Kung economic crisis in 1997. After we got to know each other, we found out that we were both energetic kind of people with similar perspectives, who were keen to look for new opportunities and new things.

Witune: That’s right. We also realised that we both had the same attitudes towards the jobs that we did and the business atmosphere in Thailand at that time.

Komkrit: When we thought about this business, it was still a very new kind of business because almost no one knew about running a bio-technology business.

Komkrit: I am an architect and my friend [Witune] is a medical technologist from Mahidol University.

Komkrit: The reason that I went to the MBA executive program was that I wanted to start something new in business as I had been working as an architect for 20 years. For one and a half years at the MBA program, our term papers included areas such as marketing or finance. But then we focused more on what really interested us and did plenty of research through the Internet, books, magazines etc. to find out more about the current climate in the area of our interest; bio-technology. We began to create and invent a new business model relating to our interest such as stem cells and others involving in the bio-technology.

Witune: Before 2002, Thailand mostly imported medical equipment and tests because no-one manufactured them locally. For example, the common rapid diagnostic tests, such as pregnancy tests,come from China, Europe or the US. Some of the trading firms made their own packaging and repacking without any quality control process. Then, there were a lot of problems with the quality of Thai medical devices 

Komkrit: Since we decided to shape up this business model, we’ve always looked forward and set big goals. We submitted our business proposal to some V.C. Funds [venture capital funds], because we didn’t have enough money to start the business by ourselves. Finally we got support from the SME V.C. Fund that is funded by the government. After our proposal had been approved, our friends and other investors who were interested in the bio-technology business joined us as shareholders.

Komkrit: One of my friends who is a famous doctor suggested a starting point in this would be in stem-cell bio-technology. However, I had to rethink about how to start this new industry as it was too hi-tech for our country. In order to get approval from the venture capital fund we had to step back a little bit from the research business and move into the  manufacturing business. Witune recommended starting up with the rapid diagnostic test, and we began to see a bright new horizon for us and the bio-technology industry.

Komkrit: Firstly, we researched this technology (rapid test) and learned how things were done through websites and resources from other companies.

Witune: In fact, the rapid tests back in those years were mainly imported from overseas.

Komkrit: After we got our first investment fund, we went to learn more about the products in Pennsylvania, USA, and began to design our own factory and the procedure of the production line. During the process of building, we developed and researched our products in a small lab in Bangkok, as well as submitted our business proposal to the BoI (Board of Investment).

Komkrit: We graduated in March 2002 but our business production and the factory had long been started, since September 2001, so it was actually running while we were just a group of MBA students. It proved that you don’t have to finish a degree before starting your own business.

Witune: Before starting i+MED, I worked as marketing officer at what is now the biggest laboratory centre in Thailand. Because of my job, I had a chance to introduce our products to the market. However, after they had received our first products, not surprisingly, we heard that there were more complaints than compliments regarding the matter of quality.

Komkrit: But those complaints forced for us to make a big changes in how we ran this business. It takes time to change people’s attitudes.

Witune: Compliments on the product quality began to increase. Now, our customers realise our i+LAB brand is a quality test, even though the price is slightly higher than some competitors.

Komkrit: Now, I take care of the administration office and I’m involved in the business development part.

Witune: I’m in charge of the product operations and back-office productions.

Komkrit: Our aim was not really targeted at how much profit we could possibly make, but we were attempting on building customers’ trust and confidence and they were actually aware of the good quality of the products we offer.

Witune: Our sales team has managed the pricing in which our customers knew that we actually sell less expensive than others. To our customers’ outlook, our factory has always been internationally standardised.

Komkrit: What makes us different from others is when we went through a huge change in positioning our company. We shifted from being a ‘B2 business’ to becoming an ‘Innovative Business’. Since our products have become innovative, we are looking forward to be part of the MAI (Marketing for Alternative Investment) within two years and hope to be on the stock market in the future.

Komkrit: We just love the technology, the advancement, love being with new challenging things. The passion that we share especially is the attitude about achievements that we aim and will gain.

Witune: Exactly. I agree that technology for us is the beginning of the advancement of many things. i+Med is then born to be another technological hub for the medical business market.

Witune: Komkrit is like a fighter as he is passionate with looking forward, making things happen and never giving up. He always comes with new innovative ideas about new technology and he never gives up anything he does.

Komkrit: Witune is more into details. I admire his integrity, honesty and responsibility. Honestly, though, sometimes we have disagreements on some certain business aspects because our working styles are quite different. Witune is more tempered when he wants to get things done quickly while I’m quite in the opposite because I take more time in finishing something up.

Witune: Sometimes I don’t understand why Komkrit takes so much time waiting! After he got results, I could understand what he was trying to do.

Komkrit: We are attempting to bring an abstract idea or aspect of a medical scientist and make it an international breakthrough at world class level. We are looking to be part of the niche market in the bio-technology business.