Startup Thailand

Startup Thailand is a national startup promotion platform implemented to support and encourage startup growth and startup ecosystem in Thailand leading by the Ministry of Science and Technology (MOST)[1] of Thailand. The policy is initiated by National Startup Committee (NSC)[2] in supporting startup activities in Thailand.[3] In Thailand, Startup is viewed as New Economic Warrior (NEW)[4] as it is the new energy is driving national economy. Thailand aims to position itself as a nation with science- and innovation-driven economy has established a national level policy to make Thailand as an open area for startup in Asia region.[5]

NSC is appointed by General Prayuth Chan-ocha, the Prime Minister to establish grand strategy for startup support and building of startup ecosystem in Thailand in 2016,[6] administrated by MOST. The committee is chaired by the Permanent Secretary of Finance and composed of representatives from related organizations and agencies. The main objective of this committee is to mobilize government agencies related to startup support in order to realize the startup promotion plan from this committee. There are four working groups under NSC:

  • Awareness and Communication Working group led by National Innovation Agency (NIA) [7]
  • Infrastructure for Startup Support Working Group led by Science Innovation and Technology Strategy Planning Agency (STI) [8]
  • Incubation of Startup Working Group led by National Science and Technology Development Agency (NSTDA) [9]
  • Policy and Regulation Recommendation Working Group led by Fiscal Policy Office, Ministry of Finance (FPO)[10]

Awareness and Public UnderstandingEdit

Creating public awareness and understanding on startup through annual Startup Thailand event, media and community networks

Entrepreneurial Ecosystem DevelopmentEdit

Building up entrepreneurship through 3 following projects

  • Startup Thailand Academy: Entrepreneurship course development in university as policy of developing university into “Entrepreneurial University” with cooperation of 30 universities nationwide
  • Startup Thailand Launchpads: Development of Startup District by creating co-working space in 30 universities nationwide
  • Startup Thailand League: Developing idea to new innovative business (startup) with target of 550 prototype funding projects

Ecosystem and Sectorial DevelopmentEdit

Developing 9 target sectors of startup and ecosystem[11][12]

Startup RegionalizationEdit

Supporting startup in regional level; MOST has startup incubator in 3 main regions at the moment.

  • Northern Innovative Startup Thailand[13]
  • Deepsouth Startup Thailand
  • Eastern Economic Corridor Startup Thailand[14]

Startup Thailand ConnectEdit

Building up network of startups and accelerating the capability of Thai startups for global expansion through 4 following projects

  • Global Acceleration Program: Accelerator with cooperation of international partner to build up Thai startup's capability for global competition and opportunities, was recently successfully finished with cooperation with Israeli investors in accelerating Thai startups for global market.
  • Business Brotherhood: Development of 10 private research and development centers for supporting new innovative business for the purpose of establishment of collaboration between university and large corporate in developing startups in their specific fields
  • Startups in Residence: Recruitment of organization/agency that has expertise and ready to mentor startup including co-working space for holding networking events for startups, community and local agencies
  • Incubator Development: Developing incubator for startups in Thailand

Innovation DistrictEdit

characteristic of the area and organizations in the district in the suitable way for startup incubation (within 4 km2)

Startup Database and Impact AssessmentEdit

Collection and analysis of startup data in Thailand for strategic planning and foresight

Ease of Doing BusinessEdit

Assisting startup in doing business by adjusting laws and regulations for startup to do business at ease by first set up timeframe for data implementing in order to assess the impact and if the outcome is successful, the recommendation for law and regulation adjustment will be submitted for example the following rights in the stock market

  • Employee stock option
  • Convertible debt
  • Amortization of Stock-based Compensation

ReferencesEdit

  1. ^ http://www.most.go.th/
  2. ^ http://thailand.prd.go.th/mobile_detail.php?cid=1&nid=3786
  3. ^ "กระทรวงวิทย์ฯ เตรียมจัดงานใหญ่ 'Startup Thailand 2017'". dailynews (in Thai). 2017-05-22. Retrieved 2017-06-30.
  4. ^ https://techsauce.co/en/thailand-en/startup-as-new-economic-warrior-new/
  5. ^ hermes (2016-08-22). "Thai govt looks to start-ups to boost economy". The Straits Times. Retrieved 2017-06-30.
  6. ^ "Govt told to prioritise digital focus - The Nation". The Nation. Retrieved 2017-06-30.
  7. ^ http://www.nia.or.th
  8. ^ http://www.sti.or.th/
  9. ^ http://www.nstda.or.th/
  10. ^ http://www.fpo.go.th
  11. ^ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 2017-06-30.
  12. ^ Maierbrugger, Arno (2016-09-13). "Startups set to spur new economic model for Thailand | Investvine". Investvine. Retrieved 2017-06-30.
  13. ^ "Northern Innovative Startup Thailand". www.step.cmu.ac.th. Retrieved 2017-06-30.
  14. ^ Maierbrugger, Arno (2017-04-06). "Thailand gives priority to Eastern Economic Corridor development | Investvine". Investvine. Retrieved 2017-06-30.