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Ministry, parties launch scheme to incubate digital start-ups

May 20. 2016
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THE INFORMATION and Communications Technology Ministry will sign a memorandum of understanding (MoU) on May 28 with 12 parties to jointly promote the incubation of potential digital start-up businesses, ICT Minister Uttama Savanayana said.

The participating parties include Advanced Info Service, Total Access Communication, True Corp, Bangkok Bank, Siam Commercial Bank, Krungthai Bank, as well as several universities such as Chulalongkorn.

Bt300m project

The ministry has set aside Bt300 million to launch the project, which will be open to applicants in the fourth quarter this year, so they can be trained to develop their own digital start-ups in many sectors.

Applications can be submitted at the ministry, which will then pass them on to different training venues in line with their proposal.

For instance, those interested in developing a start-up in the health and tourism arena will be sent to Chulalongkorn University, while those interested in the robotics industry will be incubated at King Mongkut’s Institute of Technology, Ladkrabang. Those keen on developing engineering entrepreneurships will be trained at both Bangkok University and King Mongkut’s University of Technology, Thonburi.

The banks may provide funding in the form of venture capital to promising applicants, Uttama said.

On May 28, the ICT Ministry will also sign an MoU with the Agricultural and Cooperatives Ministry, the Interior Ministry and the Bank for Agriculture and Agricultural Cooperatives to promote the use of digital technology among farmers.

The Non-formal and Informal Education Office will also take part in the project by educating people at the grassroots level on digital technology, so they will be able to enter the e-commerce channel.

There are some 2,000 community digital technology learning centres across the country, and the ministry aims to install Wi-Fi networks in 600 of them this year.

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