It’s everywhere on the streets of Bangkok, got an idea? Tired of working the grinding schedule of a corporate job? Why not start a startup and make millions?
Like the rest of ASEAN, Thais have been been bitten by the startup bug and its is growing like wildfire. Dreams to be the next Uber and Airbnb have seen the number of startups popping up from co-working spaces.
In 2017 the Thai government expects the number of startup registrations to shoot up to 1,500 from 700 firms in 2016. In 2016 alone, funding for startups fetched up to $86 million or 2.93 billion Baht from various sources. That’s a 150% jump from 2015.
So why is it then that Thailand, seems to have been overshadowed by its ASEAN neighbours when it comes to drawing interest from venture capitalists or VCs?
“Foreigners do not have strong confidence in Thailand yet,” says Google Developer Relations Program Manager Thye Yeow Bok.
According to Bok, Thailand still needs to develop its infrastructure as there is still a technical gap between Bangkok and the rest of the country. Bok says investors are looking for startups to break away from their local markets or have successful exits as can be seen with Vietnamese startups looking to expand overseas and Indonesia…
Vietnam Loship secures investment from Skype co-founder
This capital injection marks Loship as the first portfolio company of MetaPlanet in Vietnam and Southeast Asia.
Traveloka to launch financial services in Vietnam and Thailand
Traveloka, which says it has 40 million active monthly users, is developing “buy now, pay later” services for Vietnam and Thailand.
Thai Gaming Startups And Trends For 2021
Thailand is one of Southeast Asia’s most important markets for mobile games. There are about 531 Thai publishers on Google Play and about 1,684 Thai published games available for download on the store.
The name Thailand may not easily come to mind in any discourse on mobile or online gaming. However, with an estimated 27 million video gamers and projected revenue of $54m from online games in 2021, Thailand has positioned itself as a rising force in the gaming industry.
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