Thailand’s Digital Economy Promotion Agency is to launch a new fund to support startups and SMEs next month. Business Alignment Pcl is to set up a new cancer-specialised hospital in Chonburi.

DEPA to launch $6.2m fund next month

The Digital Economy Promotion Agency (DEPA) is to launch the DEPA Fund with a commitment of 200 million baht ($6.2 million) next month, aiming to support the business expansion of startups and small and medium-sized enterprises, according to The Nation’s report.

The fund will encompass the DEPA Startup Fund and the DEPA Transformation Fund, each with a budget of Bt100 million
The fund will encompass the DEPA Startup Fund and the DEPA Transformation Fund, each with a budget of Bt100 million

The DEPA Startup Fund will invest in startups, allocating 10,000-300,000 baht per project. It will hold less than half of total shares in each startup, which would be able to buy back the equity from DEPA within three years.

The DEPA Transformation Fund will provide the financial support between 10,000 baht to 300,000 baht to transitional small and medium-sized enterprises and other companies that want to adopt information technology, including local software and hardware producers.

BIZ to form cancer hospital via JV

Business Alignment Pcl (BIZ), a Thai listed medical devices supplier, has received its shareholders’ approval to form a new joint venture firm to set up a specialized hospital for cancer treatment.

The new JV firm will register with an initial capital of 200 million baht, divided into 2 million shares with a par value of 100 baht apiece.

Of the total, BIZ owns 65 per cent and a group of individuals holds the rest 35 per cent.

Sompong Chunekitiyanone, chief executive officer of BIZ, said that a new cancer treatment hospital will require the investment of around 500 million baht.

For the source of money, he said that 200 million baht would come from the shareholders of the JV firm and the rest 300 million baht from loans.

The hospital will be located in Chonburi. The hospital will have six floors with 30 beds and expects to serve around 500 patients per year, added the CEO.

Source link

DEALSTREETASIA Pte. Ltd. is a news and intelligence platform providing reports on investments, mergers, acquisitions, private equity, venture capital, investment banking and the business of startups across the Asian region.

About the author

DEALSTREETASIA Pte. Ltd. is a news and intelligence platform providing reports on investments, mergers, acquisitions, private equity, venture capital, investment banking and the business of startups across the Asian region.

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

Why South-East Asian SMEs are missing out on the digital revolution

Digital financial services, in particular, have kept the South-East Asian economy afloat. The rise of digital payments and greater access to the internet have fuelled the rapid rise in digital consumers amid the pandemic. Online payments in the region are poised to exceed $1 trillion by 2025, driven by the ongoing trend away from cash payments and increased usage of e-commerce, as well as further development of new payment methods, particularly for e-wallets and prepaid cards.

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.