Thailand’s start-up platform targets Bt500m from investors this year
The Industry Ministry forecasts over Bt500 million will be injected into new enterprises selected for its Startup Connect programme this year.
Run by the Department of Industrial Promotion (DIP), the national start-up promotion platform attracted more than Bt350 million in investment for entrepreneurs last year.
Startup Connect is designed to create market access and investor support for new enterprises – especially technology start-ups.
The pilot programme last year selected six entrepreneurs to present their business models to investors and venture capital firms. ECG-Research Co Ltd decided to invest more than Bt350 million in the six start-ups.
This year, the programme will progress in four steps:
First, the start-up network will be expanded by searching for potential entrepreneurs to develop skills and prepare business models to present to investors.
Second, the capital network will be expanded by creating a network of private companies interested in investing in entrepreneurs. Start-ups will also be promoted by Thai embassies to build confidence in business cooperation abroad.
Third, the market network will be expanded with a team of experts advising entrepreneurs on how to meet consumer needs and also operate their business with stability.
Fourth, the international network will be expanded for operators who are ready to expand overseas. These entrepreneurs will be promoted by Thai embassies as a guarantee of quality to boost investor confidence.
The 2021 Startup Connect programme has already selected 25 candidates out of 500 registrants for its training scheme.