According to Grand View Research, the revenue of, What is NFT  NFT means Non-Fungible Token. 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. For example, Thai Agri-Tech firm ‘Tech Farm’ provides a solution to farmers in the area of soil management and water quality monitoring. There is a rise of health-conscious trends and the world’s paying more attention to new innovative ingredients. The city state is also home to numerous ecosystem enablers, namely about 190 incubators, accelerators and related intermediary organisations, which support startups. Businesses and investors recognize these trends, and have reacted by shifting from traditional retail to online retail. As of 2017, there were around 600 startups in Thailand, which equates to approximately one startup per 113,000 people. Published. Thai corporate culture upholds a traditional top-down approach to management and innovation, a dynamic that is not ideal for out-of-the-box thinking and disruptive innovation. In that year, the estimated value of startup funding in Thailand amounted to around 97.55 million U.S. dollars Read more Number of tech startup funding deals in Thailand from 2011 to 2019 When we talk about Thailand, the most common thing that would come to our mind is its TukTuk, beautiful long beaches and its gold-colored architectures. Thailand has one of the most vibrant eCommerce ecosystems in Asia and this is evident by the number of local payment gateways in the country. Thailand is home to a large number of savvy digital users that are especially active on social media. download an e-book on Startup in Thailand, Starting a business with Angel Investors in Thailand. Startups Thailand’s Top Funded Fintech Startups in 2018. ImpacTech aims to empower social tech startups in Thailand and create a vibrant social tech community of startups and supporters. (Source: Galaxy Ventures), Golden Gate Ventures Thailand (Singapore): 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. (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. 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. (Source: Jungle Ventures), K2 Ventures (Bangkok): Invests in start-ups with a focus on technological changes that have the potential to greatly impact society. From the government side, if the new regulations are passed, we expect to see more innovation being implemented at a large scale, which will help Thai startups expand and create new opportunities. 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. 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 … Startups can help by providing hassle-free short-term care to foreign tourists and maintaining standards in hospitals to personalized healthcare services for patients with severe ailments like heart conditions, diabetes, etc. The local operation of global seed investor 500 Startups. (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. 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. The largest number of startup in the country: Baomoi. (Source: Meetup), Internet Entrepreneurs Network (Thailand) (Bangkok): A group for anyone who is interested in internet entrepreneurship and internet marketing. 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. Decent market size, Technology adoption, and other support infrastructure are easily accessible making it an easy breeding ground for a startup coming up with a differentiated solution to solve problems faced by people. For more information, please check out startupinthailand.com for comprehensive startup solutions in Thailand. This is a list of unicorn startup companies.In finance, a unicorn is a privately held startup company with a current valuation of US$1 billion or more, across technology centers throughout the world.. But if we look at the sheer number of deals rather than the amount of funding, E-commerce stands at the top with 24 rounds of funding almost triple the number for second/third in line (Fin-Tech and Logistics, 9 rounds each). Startup companies in Thailand that have at least one woman founder. Quarterly Deal Volume and Activity Rising number of … A group for anyone who is interested in internet entrepreneurship and internet marketing. There are several business opportunities in Thailand, however, the second most lucrative startup sector is Food Processing and Technology. 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. We did too. BANGKOK -- A chain of pay public toilets has emerged as a major winner amid the COVID-19 pandemic in Thailand. The future of technology lies in virtual reality, robotics, automation, augmented reality, artificial intelligence. As for the government side, many are pushing for new regulations, especially in the fintech space. That said, as mentioned above, government regulations need to evolve in accordance with the new focus on technology. 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). Summary. February 24, 2019. (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. 8. (Source: Siri Ventures), AIS The Startup (Bangkok): A program run by leading telecom in Thailand offering select startups support across technology, market development, and business model development. 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. This leads to new solutions that break local status quo but still are suitable to the local consumer behavior. Resources. As for the government side, many are pushing for new regulations, especially in the fintech space. 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. (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. The government push for startups in Thailand hasn’t restricted to Thailand market alone. Thai Corporate Venture Capitalist had 3 phases – the first (2012-2015) is dominated by foreign investors and telecom companies, as in early days, most of the innovations are mobile-based; second phase (2016-2017) saw interest from banks as a number of Fin-Tech startups started, increasing leading to SCB’s Digital Ventures, Krungsri Finovate, etc. Editor’s commentary on how the country’s culture and history have impacted the ecosystem. (Source: Activator), Bangkok Innohub (Bangkok): A dedicated champion will be assigned to each startup to understand their unique needs. There is still a mismatch between corporate or government requirements and startup solutions, making it difficult to implement new programs promoting innovation. 423. Road to a startup business in Thailand. Three of the biggest deals to date happened in 2016. 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. (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. As of 2019, working at a startup is seen as a risky but attractive option. (Source: AIS The Startup), Activator (Bangkok): A program focusing on co-creating new insurance technology ventures. Overhauling the traditional Thai corporate mindset is a necessary step to encourage more risk-taking and out-of-the-box thinking in the workplace. He is CEO/Co-Founder of Ookbee, the largest eBook store in Southeast Asia with over 9 Million users. 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. Ideally, experienced startup experts would be involved in the policy making process. They guide, help, and make sure all paperwork is done to ensure minimum turnaround time. For example, The Thailand 4.0 government project is tasked with providing the foundation needed for large-scale fintech growth. The Digital Economy Promotion Agency aims to support and promote the development of digital industry and innovation, support and promote digital technology adoption. (as of 2012 there were less than 5). They help startup, build, and operate businesses for their customers in Thailand. Ideally, experienced startup experts would be involved in the policy making process. US$24.2 million in funding has been raised for 13 Thai startups so far this year. In 2019, 30 percent of Thai investments went into fintech startups in Thailand, followed by 20 percent in service startups. Registering a company in Thailand is relatively easy. Amidst an ever changing fintech landscape, DV's strategy is to invest in, experiment with, and integrate technological innovations for SCB. E-commerce presents a large growth opportunity in Thailand, led by companies like aCommerce and Pomelo. Within a period of 4 years, from 2012 to 2016, Thailand went from having less than three startups to more than 75 startups which are funded. (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. Pomelo’s key differentiator is it updates its offers frequently and is always at the forefront of high-end fashion. 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. 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. 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. Fin-Tech is at the top of the list, followed by Food Tech, Ecommerce & Lifestyle, and Logistics & Transportation, etc. 80,151. (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. Meetup to talk about Bitcoin and other promising applications of blockchain technology. (Source: Golden Gate Ventures), Inspire Ventures (Bangkok): Invests in early stage and high growth businesses that are scaling proven, and sometimes novel, business models in the Southeast Asia markets with a strong emphasis on localization. From the government side, if the new regulations are passed, we expect to see more innovation being implemented at a large scale, which will help Thai startups expand and create new opportunities. As of 2017, there were around 600 startups in Thailand, which equates to approximately one startup per 113,000 people. Invests in seed stage startups with a focus on innovative technologies and services. 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. A government agency under the National Science and Technology Development Agency, it was established to stimulate the development of the Thai software industry. However, transformation on a national scale requires more than a few years. As a startup… Program that selects high potential startup businesses to help scale and form synergies within the TRUE and CP Conglomerate. Invests in post-seed stage tech startups that will take advantage of the fast growing Southeast Asian markets. Ranking in Southeast Asia: 5. Local entrepreneurs as well as the Thai government have made a concerted effort to lend their talent and resources. There is also a huge amount of inbound tourism creating new opportunities, especially from China and Europe. Going forward, to overcome the funding challenges and attract more foreign investors, Thailand needs to create a unicorn (a startup with at least a US$1 billion valuation) and showcase noteworthy success stories. (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. HTTP://TECHSAUCE.CO COPYRIGHT 2017 TECHSAUCE CO.,LTD THAI STARTUP ECOSYSTEM TODAY FROM 2012 FROM 2015 FROM 2017 Funded startups 3 60+ 90+ Total funds raised by Thai startups $2.1M $87.848 M+ $271.418 M+ Biggest investment round by a Thai startup $2M $10.7 $65M Total funds raised by VCs $7M+ $95 M+ $305 M+ Vcs & Corporations that invested in Thailand 1 56+ 96+ Active angel investors in Thailand … (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). THAI STARTUP ECOSYSTEM TODAY HTTP://TECHSAUCE.CO FROM 2012 FROM 2015 FROM 2017 Funded startups 3 60+ 75+ Total funds raised by Thai startups $2.1M $88.728 M+ $174.748 M+ Biggest investment round by a Thai startup $2M $10.7 $19M Total funds raised by VCs $7M+ $74 M+ $311 M+ Vcs & Corporations that invested in Thailand 1 56+ 79+ Active angel investors in Thailand 2 … Startup in Thailand assist budding entrepreneurs in startup projects and often involve in Project Financing or Joint Ventures. Only 0.3% of Thai startups found an exit in 2016, compared to global leaders whose exit opportunity rate (exits as a percentage of the number of startups) exceeds 2%. The largest number of startup in the country: Priceza . 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. The third phase is where diversification started – companies in sectors like construction, energy, insurance, and properties entered the scenario. (Source: Beacon Venture Capital), Cento Ventures (Singapore): 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. Supports Thailand’s innovation system, in both the way of improvement and initiation, to promote economic restructuring and competitive enhancement. Non-Fungible means “not interchangeable.” If you have one bitcoin, it’s absolutely the same as any other bitcoin (fungible, atato the digital assets technology provider, just closed a seed capital raise of $1 million, led by Zipmex Asia, SOSV MOX, and other major angel, Affordability of living and operating a business, Progress has certainly been made recently: through 2018, there have been. Local startups are being encouraged by government support, and Thailand is promising as overall costs for startups are low relative to Singapore. Pomelo is a leading international fashion eCommerce company founded in 2013 and based in Bangkok. In 2017, Pomelo raised US$19 million in Series B funding led by JD.com and Provident Capital Partners. You may consult the Startup Specialists who provide 360 degrees business solutions for any startup needs and help people for doing business in Thailand. These days we have witnessed the positive trends of the young generation in Thailand becoming more actively involved in the local startup scene. 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. Mix with communities such as social entrepreneurs, musicians and artists, filmmakers, athletes, LGBTQ and more. If there are more initiatives that promote investment, enable research commercialization and support DeepTech development by relevant parties, we are certain that big opportunities can emerge from this vertical. A program run by leading telecom in Thailand offering select startups support across technology, market development, and business model development. Overhauling the traditional Thai corporate mindset is a necessary step to encourage more risk-taking and out-of-the-box thinking in the workplace. It has also maintained a close association with the private sector. Startups in Thailand are also required to request the approval of a building controller. Join us as a Startup Universal contributor! The appeal of this sector for aspiring entrepreneur is not surprising considering that Thai cuisine is popular all over the world and the demand for it is ever-growing due to increased inflow of tourists from all over the world and rise in domestic wage levels, reached an all-time high of 409 USD in 2016. Thai startup funding as of the beginning of 2017 - GetLinks also announced a Series-A (undisclosed) on March 21, 2017. The number of local startups drops but investment rises. (Source: ETDA), NIA: Supports Thailand’s innovation system, in both the way of improvement and initiation, to promote economic restructuring and competitive enhancement. The size of the meat and seafood industry is about 5.9 billion USD. 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. The Thai government should, effectively and efficiently, transform the strategic objective, behind those programs which it has initiated towards promoting startups, into a viable operational plan with responsibilities and goal assigned time-bound. (Source: Meetup), Bitcoins in Chiang Mai (Chiang Mai): Meetup to talk about Bitcoin and other promising applications of blockchain technology. The number of startups that have been funded by venture capitalists, corporations, and … Engages in flexible investment opportunities on a global scale, in areas such as Japan, the United States, China, Southeast Asia, and more. 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. (Source: Thailand Board of Investment), Chulalongkorn University - CU Innovation Hub (Bangkok): 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. The word ‘Startup’ is buzzing everywhere and has caught increased attention from governments all over the world. Please check out the Thailand Industries where you can check out various industry reports and how they fare. A smart city accelerator program aiming to develop potential digital startups and maximize growth opportunities from national scene to regional level. 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. Over the past six years, Thailand’s startup ecosystem has grown by leaps and bounds. The third most important sector would be the Travel and Hospitality industry. Moreover, the past year has seen increased momentum as a group of growth stage companies (Series B) have raised substantial capital (US$30M+). However the numbers still show that investment in Thailand’s ecosystem has grown. Want to have a startup business in Thailand? Moo Natavudh Pungcharoenpong is the managing partner of 500 TukTuks, a micro-fund under 500 Startups. Notable lists of unicorn companies are maintained by The Wall Street Journal, Fortune Magazine, CNNMoney/CB Insights, TechCrunch and PitchBook/Morningstar. But Thailand is serious about its startups as well. The treatment of women in the Middle East may not be what most perceive. Try Pro free Solutions. 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. After living in Thailand and Southeast Asia for years, my colleague and I decided to start a business in Bangkok. This is the story about our journey as we navigate the fascinating system of Thai business and bureaucracy. Thai Startups have expanded and diversified in the last five years and they are in the expansion phase now. However, Thailand is not an easy playground for non-Thai companies. Thailand's Leading Cryptocurrency Exchange - Founded in February 2018, Bitkub is a new generati ... 2. The biggest startup deal that happened in Thailand was an investment of 19 million in Ookbee by Chinese Internet giant Tencent. Since Thailand Startup ecosystem is seeing a lot of funding activities from Corporate Venture Capitalists in recent years, doing business in Thailand can help you leverage the broader market access, expertise, technology, and experience those corporate have and grow at a much faster rate. Thailand is no exception to it. The number of startups setting up a business in Thailand is exploding. There are relatively few Thai entrepreneurs and startups, as conservative thinking and aversion to risk, combined with social pressures to secure a steady income, means much of the talent that would be expected to venture into the startup world in another environment ends up working in Industry in Thailand. Sign up for the Startup Universal newsletter for the latest locally-sourced news and insights covering startups globally. Editor’s choice of the country’s top 10 emerging tech startups. Advanced Search. Since Thailand has abundant natural resources and the weather conditions are great for food production, this is a high potential industry for Thai startups. A corporate venture capital unit of Singha Corporation, part of Boonrawd Brewery Group, that invests in startups with a focus on consumer products, logistics, and enterprise solutions. Thai startup Drivebot is one of these cases. Hub. Invests in startups with a focus on construction tech, property tech, food tech, and health tech. The first specialized accelerator and incubator for science and technology in Thailand. Thailand consistently ranks in the top 10 countries worldwide for social media statistics on network usage and consumer adoption growth. There are many benefits of launching a tech startup in Thailand. Chief among these is the Foreign Business Act, which. 500 TukTuks (Bangkok): The local operation of global seed investor 500 Startups. (Source: SPARK Thailand), SPRINT Accelerator Thailand (Bangkok): The first specialized accelerator and incubator for science and technology in Thailand. But, Eastern nations, specifically Asian countries, have discovered a, The increasing rate of rural-urban migration is one reason why the real estate industry is rapidly growing. However, transformation on a national scale requires more than a few years. Have someone in mind? (Source: Dtac accelerate), ImpacTech (Bangkok): A program for startups who use technology to tackle social issues. There have been past success stories, such as, , a hotel and flight booking site acquired by the Priceline Group, and current success from companies like Ookbee and Omise. startups in Thailand, which equates to approximately one startup per 113,000 people. 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. 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. (Source: Digital Ventures), Galaxy Ventures (Bangkok): Invests in seed stage startups with a focus on innovative technologies and services. However, this development has not fully translated to the Thai startup community. To date, more than one third of 500 TukTuks’ portfolio companies managed to secure follow-on investment, which signals a trend that Thai startups are becoming more and more investible despite the challenges. The median funding deal value has increased from 60,000 USD in 2012 to 1.1 million USD in 2016. Supports high-potential Thai startups in early-stage through intensive mentoring sessions with regional and international experts to guide and improve startups’ capabilities, products and solutions to reach the global market’s needs. A subsidiary of The Siam Commercial Bank (SCB), was established in February 2016 to uncover innovations and redefine banking in a digital era. (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. The Department of Business Development establishes quality standards for Thai businesses. An online and offline community with the sole focus of enabling entrepreneurs from all walks of life to succeed in building their ventures. Omise. Amidst an ever changing fintech landscape, DV's strategy is to invest in, experiment with, and integrate technological innovations for SCB. Mix with communities such as social entrepreneurs, musicians and artists, filmmakers, athletes, LGBTQ and more. 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. (Source: Bangkok Innohub), Depa Accelerator Program (Bangkok): A smart city accelerator program aiming to develop potential digital startups and maximize growth opportunities from national scene to regional level. By. Thai Startup should focus on incorporating these technologies into their innovation so that the technology which supports their business idea is futuristic. 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). Last week, we organized a fireside chat with our friend Dmitry Levit from Cento Ventures on the investment scene in Southeast Asia, key trends, comparison, Gojek says it will add car-hailing and e-payments to its operations in Vietnam, one of the key markets in the Indonesian startup’s battle with Singaporean, A new war to be China’s top tech giant has begun, with the first salvo being fired thousands of miles away from its shores in, The speed of the fourth digital transformation driven by the COVID-19 outbreak has shown how close humans are to developing technology even further to transform, Entrepreneur Jarrold Ong scrutinized with great attention how companies operating in the urban mobility sector, such as Uber, Grab, or Gojek, spurred out in 2015, Ho Chi Minh City is a popular destination in Southeast Asia where tourists can find diverse cuisines, hospitable people, and historic architecture. It hosts monthly pitching events offering 5 startups the chance to pitch. A program focusing on co-creating new insurance technology ventures. With offices in Thailand, Indonesia, Singapore and Korea, Pomelo is quickly expanding across the region. 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 .
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