Bangkok: The “LuXene” team from Kasetsart University has emerged victorious at the National Pitching Startup Thailand League 2026 with their innovative product, LuXene, a high-performance bio-based lubricant designed for industries that prioritize both efficiency and sustainability. This remarkable achievement underscores the transformative power of ideas, even in the absence of substantial financial backing.
According to Thai News Agency, the event was organized by the National Innovation Agency (NIA) under the Ministry of Higher Education, Science, Research and Innovation (MHESI). The results were announced at the Startup and Innovation Thailand Expo 2026 (SITE 2026), with key figures such as Professor Dr. Yoschanan Wongsawat, Deputy Prime Minister and Minister of MHESI, Dr. Kritphaka Boonfueng, Director of NIA, and Ms. Wachira Karnsut, Deputy Director of the Government Savings Bank, presenting awards to the winners. The competition featured an enthusiastic atmosphere, with supporters from various universities cheering for their teams throughout the final round, which included presentations from 14 finalist teams representing four regions.
Professor Dr. Yoschanan highlighted the importance of startups for national development, emphasizing their role as a policy focus since his tenure began. He encouraged the participants by stating that startups can create change with innovative ideas, even with limited resources, through skill development and competition. He noted that facing challenges and learning from mistakes are vital experiences that strengthen Thai startups and prepare them for future growth opportunities. Moreover, he emphasized that a startup career does not require a degree and can be pursued alongside academic studies.
The announcement of the winners was a significant moment in the competition. Team ‘LuXene’ from Kasetsart University won the top prize with their bio-lubricant, LuXene, earning a trophy and a cash prize of 50,000 baht. The first runner-up was Team Siberian from Mahidol University, with their activewear brand Urformance, which incorporates TROPTECH fabric technology for urban lifestyles, receiving a trophy and 30,000 baht. Team BNNK from Thaksin University secured the second runner-up position with their innovative “Agarwood heartwood stimulant,” earning a trophy and 20,000 baht. Additionally, Kasetsart University received the University of The Year award for its role in supporting its student teams’ success.
Dr. Kritphaka Boonfueng noted that the 2016 Startup Thailand League attracted over 253 teams from across the nation. After rigorous coaching and competition phases, 14 teams reached the National Pitching stage, showcasing their potential as young innovative entrepreneurs. He highlighted the shift in focus from mere creativity to business potential, with many teams presenting real product prototypes, business models, and plans for scaling up. Dr. Boonfueng also remarked on the new generation of entrepreneurs actively addressing global challenges through innovative solutions, shaping their own futures with science, technology, and innovation.