Seed-money fund launched
The government is now offering soft loans to students or graduates from higher-educational institutions provided they can offer a good business plan.
Each applicant can seek up to Bt1 million via the Seed Money Fund project, which was officially launched by Prime Minister Yingluck Shinawatra yesterday.
“We aim to provide support and opportunities to students and young graduates who have the potential to become new-generation entrepreneurs,” Yingluck said.
The government has already approved Bt5 billion for the project, which will also get additional funding from several banks such as Krungthai, SME Bank and the Government Savings Bank.
According to Yingluck, 56 university business projects are up and running nationwide and young entrepreneur aspirants can contact them for help.
Education Minister Phong-thep Thepkanjana said the project would likely start handing out loans in the first quarter of next year.
Olarn Chaipravat, who chairs the Seed Money Fund’s board, said 5,000 to 10,000 loans should be approved next year. “Several business aspirants have already expressed an interest. They intend to venture into software, robot, agriculture and food industries,” he said.
Yingluck said that the Seed Money Fund project was one of her government’s key policies, and should create jobs and generate.
