A group for anyone who is interested in internet entrepreneurship and internet marketing. (Source: Singha Ventures), Siri Ventures (Bangkok): Invests in startups with a focus on construction tech, property tech, food tech, and health tech. The local operation of global seed investor 500 Startups. Previously, the startup was requiring funding only at Series A or Seed level but now, the startup is going to Series B or Series C funding. A case study of startups in Thailand. The Ministry of Science and Technology is the primary responsible unit for Startup Thailand. Startups Thailand’s Top Funded Fintech Startups in 2018. This year has been the year of the Thai start-ups, with the number of companies jumping from 300 in 2014 to over 2,500 in 2015. Ranking in the world: 59. AGTECH FUNDS CURRENTLY RAISING YEAR IN REVIEW. Invests in early stage technology companies across Southeast Asia with a focus on eCommerce opportunities - including sourcing, fulfillment, retail, demand generation and payment gateway among others. Sign up to our newsletter and stay informed about the latest developments in Thailand regarding work, business and investment. Have someone in mind? This event was launched in five major cities – Bangkok, Chonburi, Songkhla, Khon Kaen and finally Chiang Mai. The government supports this sector through the creation of regulatory sandbox and multi-national e-payment initiatives such as PromptPay. Ranking in Southeast Asia: 7. (Source: Ascend), Beacon Venture Capital (Bangkok): Invests in early to growth-stage technology startups covering not only financial technology (fintech) but also consumer internet and enterprise technology such as artificial intelligence (AI) and enterprise IT. The median funding deal value has increased from 60,000 USD in 2012 to 1.1 million USD in 2016. The third phase is where diversification started – companies in sectors like construction, energy, insurance, and properties entered the scenario. In Qatar, Indonesia, Thailand, Panama, Angola, and Madagascar, entrepreneurial activity is evenly spread between the two sexes. Program that selects high potential startup businesses to help scale and form synergies within the TRUE and CP Conglomerate. Thailand Accelerators Map has 0 accelerators, and the highest ranked accelerators in Thailand are N/A.. Thailand is ranked 0 globally, based on the number of startup accelerators it has. (Source: ImpacTech), Krungsri Rise (Bangkok): Works with corporates and government across Southeast Asia to run a tailor-made “Growth Accelerator” program that creates an environment for startups and corporates to create a win-win partnership that can drive the local economic growth, technological and innovation progress, and improve the standard of living for Southeast Asia (SEA). of Thai businesses across certain industries. To the advance, the development of startups, Minister of Science and Technology, in alliance with private entities, academic institutions, government departments, has organized ‘Startup Thailand’ as a platform for investors, students, founders and entrepreneurs to showcase their startup ideas. Interested in becoming more involved in this ecosystem and connecting with local ecosystem leaders? Startup companies in Thailand that have at least one woman founder. It hosts monthly pitching events offering 5 startups the chance to pitch. For this year, STARTUP THAILAND 2019 is joining forces from the top startups in Thailand and from around the world, and players in startup industry from government and private sector, community, and cooperation network from 25 countries will exhibit works from more than 500 startups to open you to new perspectives and find the greatest business idea that will grow to be a UNICORN, and create a … (Source: AIS The Startup), Activator (Bangkok): A program focusing on co-creating new insurance technology ventures. Fin-Tech is at the top of the list, followed by Food Tech, Ecommerce & Lifestyle, and Logistics & Transportation, etc. Beyond providing seed capital, 500 supports startups via their Seed Accelerator Programs that emphasize digital marketing, customer acquisition, lean startup practices, and fundraising for pre-Seed companies. Your email address will not be published. (Source: TechSauce Global Summit), Bangkok Technology Entrepreneur OpenCoffee Meetup (Bangkok): A fixed time and place where entrepreneurs, investors, developers and visionaries can get together in a truly informal setting to meet, chat and make connections. Disclaimer: all content within the Startup Ecosystem Summary and Editor’s Guide sections is written by and reflects the personal perspective of the guest editor. Invests in startups with a focus on construction tech, property tech, food tech, and health tech. As a startup… The biggest startup deal that happened in Thailand was an investment of 19 million in Ookbee by Chinese Internet giant Tencent. A program for startups who use technology to tackle social issues. Omise. Since 2011, Thai startups have cumulatively attracted 337 million USD, 61 million USD of which was raised in 2018. The number of startups that have been funded by venture capitalists, corporations, and … Summary. StartUp in Thailand is the single-window solution for any business startup and expansion requirements in Thailand. download an e-book on Startup in Thailand, Starting a business with Angel Investors in Thailand. (Source: SEC Thailand), Software Park Thailand: A government agency under the National Science and Technology Development Agency, it was established to stimulate the development of the Thai software industry. Aims to promote investment in Thailand and Thai overseas investment to enhance Thailand’s competitiveness, to overcome the “Middle Income Trap” and to achieve sustainable growth in accordance with the sufficiency economy philosophy. Startup in Thailand assist budding entrepreneurs in startup projects and often involve in Project Financing or Joint Ventures. That said, as mentioned above, government regulations need to evolve in accordance with the new focus on technology. Overhauling the traditional Thai corporate mindset is a necessary step to encourage more risk-taking and out-of-the-box thinking in the workplace. As per Thailand Market Research performed by some of the major business consultants, Thailand has a population of about 68.2 million with a mobile subscription of 133%, internet penetration of 67%, 67% active mobile social users and 30% 4G subscriptions. Over the past six years, Thailand’s startup ecosystem has grown by leaps and bounds. Want to have a startup business in Thailand? Moo also established Ookbee U as a joint venture with Tencent in late 2016 and it’s expected to reach the mark of a million-plus pieces of user-generated content in three years. A growing number of startups is also participating in government schemes. Southeast Asia is no exception to this trend. Looking forward, we expect to see large corporations working more closely with the startups through small pilot projects and co-developing new solutions, instead of just providing funding. In addition, Thailand’s Board of Investment provides income tax exemption for a period of five years for startups, like those in Fin-Tech, and Venture Capitalist are exempted for a period of ten years. Amidst an ever changing fintech landscape, DV's strategy is to invest in, experiment with, and integrate technological innovations for SCB. Thailand is recognized as one of the biggest food exporters in the world. Thailand’s agricultural sector contributes about 10 percent of its GDP and provides labor for about 40-50 percent of its labor force. You may also download an e-book on Startup in Thailand which describes the common pitfalls in a startup and provides valuable tips for doing business in Thailand, Things to Consider Before Making Investing Decisions, The Importance of Consulting a Startup Specialist, Mastering The Right Mentality When Starting a Business, Your email address will not be published. Strong founding team members with successful products are usually a combination of Thai and foreign founders. However, transformation on a national scale requires more than a few years. Resources. - Omise is the first payment API in Thailand. The investment scenario has been mostly dominated by Corporate VCs in recent years and this is bound to grow by leaps and bounds. A national organization that was established to support and promote Startup and Startup Ecosystems in accordance with the policy of the National Startup Committee (NSC). Journal of International Studies, 10(1), 104-111. doi:10.14254/2071-8330 2018 11-39 Competitive advantage effects on firm performance: A Case study of startups in Thailand Pisit Potjanajaruwit Faculty of Management Science, Suan Sunandha Rajabhat University Thailand Pisit.po@ssru.ac.th Abstract. Advanced Search. There are currently 230 startups listed in Techsauce’s directory. Strict investment regulations and the Thai language itself are just a few of the considerable number … Thailand also requires an experienced pool of mentors to guide entrepreneurs to transform themselves from a startup phase to a stable company with sustainable and healthy growth, without forgetting unit economies in name of growth in size. Ranking in the world: 60. February 24, 2019. A diverse cultural festival that goes beyond tech into music and fashion. Try Pro free Solutions. Three of the biggest deals to date happened in 2016. This leads to new solutions that break local status quo but still are suitable to the local consumer behavior. Operates acceleration programs focused on propelling the growth of innovation financial technology (FinTech) and technology companies and catalyses the digital transformation of businesses. Despite the cultural pressures, there is a big shift of the mindset among new graduates. The first specialized accelerator and incubator for science and technology in Thailand. Sectors like Fin-Tech, E-commerce, Food Tech, Agri-Tech, Logistics, and Travel & Hospitality seems to be promising. These efforts have paid off in the form of increased investment in 2017-2019 (especially foreign investment from China), and more foreign fintech companies expanding their operations to Thailand. (Source: SPRINT Accelerator Thailand), The FinLab (Bangkok): Operates acceleration programs focused on propelling the growth of innovation financial technology (FinTech) and technology companies and catalyses the digital transformation of businesses. The facilities are operated by Mister Loo, a Swiss startup … Invests in early stage startups with a focus on internet & mobile startups across many sectors, including e-commerce, payments, marketplaces, mobile applications, and SaaS platforms. The future of technology lies in virtual reality, robotics, automation, augmented reality, artificial intelligence. Compare that with 2015, where it was estimated that the growth was around a 900% increase from the previous year, or roughly 2,500 startups. Agri-Tech can help Thailand achieve sustainable and inclusive growth in agriculture, by providing farm management solutions, analytics for sowing, harvesting and weather prediction, etc. Road to a startup business in Thailand. (Source: Meetup), TechGrind Bangkok (Bangkok): An online and offline community with the sole focus of enabling entrepreneurs from all walks of life to succeed in building their ventures. In the meantime, the concern is that regulators do not have a thorough understanding of new technologies and their implications, so sometimes they’re not able to assess the technology or create a policy to enable real transformation while minimizing risk. The word ‘Startup’ is buzzing everywhere and has caught increased attention from governments all over the world. (Source: Software Park Thailand), Startup Thailand: A national organization that was established to support and promote Startup and Startup Ecosystems in accordance with the policy of the National Startup Committee (NSC). As of 2017, there were around 600 startups in Thailand, which equates to approximately one startup per 113,000 people. (Source: 500 Tuk Tuks), Add Ventures (Bangkok): Invests in Series-A rounds and later stage startups with a focus on smart agriculture, robotics and automation, supply chain optimization, and energy efficiency management. (Source: Depa Accelerator Program), Dtac accelerate (Bangkok): A 3-month program that will bring together an amazing community of entrepreneurs, experienced mentors and investors with a common trait to dream big and making an impact on the world of technology. Another recent trend involves local founders pairing up with foreign founders, applying global know-how to the nature of the local market. Pomelo is a leading international fashion eCommerce company founded in 2013 and based in Bangkok. The third most important sector would be the Travel and Hospitality industry. (Source: Krungsri Finnovate), Line Ventures (Bangkok): Engages in flexible investment opportunities on a global scale, in areas such as Japan, the United States, China, Southeast Asia, and more. “It is unfortunate that the momentum of Thai startups has slowed. To attract foreign talent, the government also initiated a smart visa program. For reference, the startup densities (startups/population) in Israel, the United States, and Singapore range from one startup for every 2,000 to 3,000 people. Support in the form of incubation programmes set up by … In 2018, the food industry contributed roughly 23% of the country’s GDP. But Thailand is serious about its startups as well. In case of overtime, the pay rate is trebled of the normal rate. (Source: Line Ventures), Monk's Hill Ventures Thailand (Singapore): Invests in post-seed stage tech startups that will take advantage of the fast growing Southeast Asian markets. 3. Registering a company in Thailand is relatively easy. He is known as a successful serial tech entrepreneur and seasoned angel investor in Thailand with over 15 years experience in the Thai startup ecosystem. VIETNAM. Here is the list of the five most profitable business opportunities in the country for startups. Through research, education, competitions and activities, the center is responsible for developing the creativity, critical thinking, and entrepreneurial skills of CU students and personnel, and distributing innovative ideas for the benefit of the society and economy. It was followed by 17.5 million USD in Omise Payment and 15 million in Orami. You may consult the Startup Specialists who provide 360 degrees business solutions for any startup needs and help people for doing business in Thailand. It is important to note that this doesn’t include several undisclosed deals at Series B level. It is regarded as the world’s fastest growing internet region, while ASEAN’s digital economy has also been predicted to reach a value of USD 2 trillion by 2025. (Source: Dtac accelerate), ImpacTech (Bangkok): A program for startups who use technology to tackle social issues. Invests in startups with a focus on technologies that electrify energy system, enable better transportation, make energy usage more efficiency, enhance sustainability, enable the use of internet of things in industries and other new kind of solutions which could become growth drivers. Before the emergence of COVID-19, a larger number of new startups in Southeast Asia faced growing scrutiny from international investors looking to assess new companies’ growth prospects. Considering that Thailand is one of the cheapest destinations for medical tourism, the opportunities in the healthcare and pharmaceutical industry is huge. Check out our Global Startup Ecosystem Database to discover top startups and ecosystem resources around the world! At the same time, our goal is to help drive a thriving startup ecosystem here in Thailand by providing the support and opportunities to connect and grow startups wanting to take their businesses to the next level. Products. Chief among these is the Foreign Business Act, which. startups in Thailand, which equates to approximately one startup per 113,000 people. Thai startup funding as of the beginning of 2017 - GetLinks also announced a Series-A (undisclosed) on March 21, 2017. The guest editor is not responsible for content within the Country Snapshot and Community sections, as much of this content is compiled from external sources and does not necessarily reflect the guest editor’s view. Businesses and investors recognize these trends, and have reacted by shifting from traditional retail to online retail. Editor’s perspective of the maturity level of talent in the ecosystem. *Updated with latest available data based on listed source. It has bigger dreams- it wishes to become an international platform for setting up the startup for investors, founders, students and aspiring entrepreneurs alike. As for the government side, many are pushing for new regulations, especially in the fintech space. Mix with communities such as social entrepreneurs, musicians and artists, filmmakers, athletes, LGBTQ and more. National Science and Technology Development Agency (NSTDA) aims to promote research, development, design and engineering (RDDE) until it can be transferred to use and promote human resource development and infrastructure in the areas that are needed to build competitiveness and sustainable development of the country. Invests in seed stage startups with a focus on innovative technologies and services. Mentors from Bangkok Bank’s business and technical teams will guide each startup towards a potential pilot that will help them secure meaningful partnerships in the future. As for the government side, many are pushing for new regulations, especially in the fintech space. Save . (Source: InVent), Jungle Ventures Thailand (Singapore): Invests in consumer brands for the digitally native; platforms that enable digital transformation of SMEs; global technology leaders born in Asia. Incubators, accelerators, intermediaries drive the startup business. (Source: The FinLab), True Incube (Phra Khanong): Program that selects high potential startup businesses to help scale and form synergies within the TRUE and CP Conglomerate. Thailand Startups with Female Founders. As of 2017, there were around 600 startups in Thailand, which equates to approximately one startup per 113,000 people. Thailand. The … In 2016, Startups in Thailand raised funds of about 86 million USD. The size of the meat and seafood industry is about 5.9 billion USD. BANGKOK -- A chain of pay public toilets has emerged as a major winner amid the COVID-19 pandemic in Thailand. (Source: NIA), NSTDA: National Science and Technology Development Agency (NSTDA) aims to promote research, development, design and engineering (RDDE) until it can be transferred to use and promote human resource development and infrastructure in the areas that are needed to build competitiveness and sustainable development of the country. The Thai startup ecosystem, including local corporate venture capital, Chinese conglomerates, and the Thai government, have started to pledge their capital and invest in innovation. Thailand is particularly susceptible to fintech thanks to a gap in connectivity between urban and rural areas, where fintechs can jump in to disrupt existing processes . (Source: Jungle Ventures), K2 Ventures (Bangkok): Invests in start-ups with a focus on technological changes that have the potential to greatly impact society. Fin-Tech made up the bulk of the deals in 2016, at over 27 million USD. To attract foreign talent, the government also initiated a smart visa program. They guide, help, and make sure all paperwork is done to ensure minimum turnaround time. A fixed time and place where entrepreneurs, investors, developers and visionaries can get together in a truly informal setting to meet, chat and make connections. Unlike other e-commerce fashion sites, Pomelo only offers apparel under its own label, is only online, and most products are under US$100. Thai Startup should focus on incorporating these technologies into their innovation so that the technology which supports their business idea is futuristic. Help us showcase this ecosystem by suggesting additional content. Works with corporates and government across Southeast Asia to run a tailor-made “Growth Accelerator” program that creates an environment for startups and corporates to create a win-win partnership that can drive the local economic growth, technological and innovation progress, and improve the standard of living for Southeast Asia (SEA). Editor’s choice of the industries with the most potential for technology disruption and growth. There have been past success stories, such as Agoda, a hotel and flight booking site acquired by the Priceline Group, and current success from companies like Ookbee and Omise. (Source: Add Ventures), Ardent Capital (Bangkok): Invests in early stage technology companies across Southeast Asia with a focus on eCommerce opportunities - including sourcing, fulfillment, retail, demand generation and payment gateway among others. The good news is that the Thai government has vocally noted its support and capital for, in technology and entrepreneurship. (Source: Meetup), DBD: The Department of Business Development establishes quality standards for Thai businesses. In many ways, Thailand is more industrially developed and commercially tied to the West than much of Southeast Asia. In the 2020 World Bank rankings for ease of doing business, Thailand ranked 21st out of 190 nations, making it one of the most accessible places to start a business. According to the statistics, the UK has seen the biggest growth in the number of start-ups between 2013 and 2017 at 5.09%, followed by Romania and Portugal. Bangkok airport received traffic of more than 50 million visitors in 2015 but its capacity is only 45 million. The most active VCs in Thailand: 500 startups - 12 deals to date (38 if including 500 TukTuks), dtac accelerate - 22 deals to date, and InVent - 10 deals to date. Working Hours & Culture. By. It has a team that carefully curates and designs the clothing offered on the website, and closely follows trends from New York to Hong Kong while keeping the Thai customer at the forefront of their designs. For reference, the startup densities (startups/population) in Israel, the United States, and Singapore range from one startup for every 2,000 to 3,000 people. Provides digital technology infrastructure services and service systems or fundamental applications engaging with digital government. Startups in Thailand are also required to request the approval of a building controller. Most tourists seek localized travel experience, creating demand for local search and discovery services and local guides. Investment opportunities in Thailand, particularly in startup activities, gained huge momentum in the last five years as it is shown from funding growth in startups in the below figures. Invests in series A startups with a focus on applying innovative business models to large industry sectors that are set in their ways, using technology as an enabler. Invests in Series-A rounds and later stage startups with a focus on smart agriculture, robotics and automation, supply chain optimization, and energy efficiency management. In addition, Ho, Fermented beverages have always been popular in the West because they boost your immune system naturally. Moo Natavudh Pungcharoenpong is the managing partner of 500 TukTuks, a micro-fund under 500 Startups. Zhang Fang. (Source: DGA), ETDA: Created to meet the economic structure that has changed from an analog society to a digital society, an era where everyone can access information at the touch of a finger. A dedicated champion will be assigned to each startup to understand their unique needs. Thailand remains an intriguing market due to its tech-savvy population and its recent growth in emerging industries such as fintech. He is CEO/Co-Founder of Ookbee, the largest eBook store in Southeast Asia with over 9 Million users.

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