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 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.
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.
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