The government has provided opportunities and paved way for startups to be on the business map and now the private sector must maintain this momentum by providing extra supports to ensure the survivability of this new eco-system.

“The government has already provided us with opportunities via incentives this have upgraded the startup status to be recognizable in Thailand’s business scene,” said Max Kortrakul, spokesman of the Thailand Tech Startup Association, an association which acts as a connector between players in and outside of the tech startup industry.

Examples of the opportunities that came with government supports include products and incentives such as Matching Fund that has gained a lot of attention from investors and tax cut for businesses which decided to use Thai seawares and applications.

“Incentives are being given and new funds are being set up which have attract both foreign and domestic investors while banks are also contently looking for innovation and these have provided more opportunities for startup in Thailand,” Max said.

However, what the association wanted to see in the second stage is the involvement of large corporate in the creation of human resource for the tech startup industry.

“What we wants to see…

Read the complete story here

About the author

Techsauce is the partnership of two titans in the Thai technology startup industry between Thumbsup, the leading technology media in Thailand and HUBBA, the biggest coworking space network in Thailand.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Will cryptocurrency expansion continue among emerging markets in 2022?

Emerging markets were at the forefront of last year’s massive growth in global cryptocurrency adoption. With this growth widely tipped to continue into 2022, a range of countries will see their crypto markets mature or expand.

Fintech: the natural response to a quarantined economy

During the global lockdown, MSMEs needed Financial Technology (fintech) to keep business operations going. FinTech companies also provided an intrinsic relief to business owners that were at risk of getting sick by continuing to operate manually.

Thailand Warns of Increased Cyber Threats Amid Russia-Ukraine Conflict

NCSA Deputy Secretary-General Gp Capt Amorn Chomchoey said 12 cyber attacks linked to the Russia-Ukraine conflict have been reported since January 13, mostly targeting key infrastructures such as banks, border control agencies, and news websites.