Share. Local startups are being encouraged by government support, and Thailand is promising as overall costs for startups are low relative to Singapore. Home fitness and games as gathering places are a … The Cost of business start-up procedures in Thailand is 6.70 as a % of GNI per capita. At Umpire Legal, we take worry & uncertainty out of starting a business in Thailand, eliminate the unnecessary guesswork from the complex legal process and help get your Thai company set up for real success. (Source: Software Park Thailand), Startup Thailand: A national organization that was established to support and promote Startup and Startup Ecosystems in accordance with the policy of the National Startup Committee (NSC). Looking forward, we expect to see large corporations working more closely with the startups through small pilot projects and co-developing new solutions, instead of just providing funding. ClaimDi is a mobile application that allows car owners to make insurance claims at the scene of the accident within 15 minutes. Help us showcase this ecosystem by suggesting additional content. Read full case study. Considering that Thailand is one of the cheapest destinations for medical tourism, the opportunities in the healthcare and pharmaceutical industry is huge. The investment scenario has been mostly dominated by Corporate VCs in recent years and this is bound to grow by leaps and bounds. Guest editors are local ecosystem leaders: successful founders, investors, or thought leaders. It should be noted that Thai consumers are also extremely price sensitive and will spend time hunting for deals/savings. Summary of Accounting Professions Act, B.E. Register your company in Thailand effortlessly without as much as touching a legal form. I also like the layout, which is easy on the eye, more attractive and efficient. Moo also established Ookbee U as a joint venture with Tencent in late 2016 and it’s expected to reach the mark of a million-plus pieces of user-generated content in three years. FlowAccount, which runs as both a website and mobile platform, won this year's AIS The StartUp competition, beating out other 300 teams. In 2018, the food industry contributed roughly 23% of the country’s GDP. In Southeast Asia, SMEs accounted for between 97% and 99% of the total number of enterprises in individual nations. Another recent trend involves local founders pairing up with foreign founders, applying global know-how to the nature of the local market. (Source: TechSauce Global Summit), Bangkok Technology Entrepreneur OpenCoffee Meetup (Bangkok): A fixed time and place where entrepreneurs, investors, developers and visionaries can get together in a truly informal setting to meet, chat and make connections. What You Need to Know About Setting up a Business in Thailand. ImpacTech aims to empower social tech startups in Thailand and create a vibrant social tech community of startups and supporters. Every year or even every month many new startup founders emerge. Asia's largest democratically voted startup award and startup event. Program that selects high potential startup businesses to help scale and form synergies within the TRUE and CP Conglomerate. 6 min read. (Source: Startup Thailand), Thailand Board of Investment: Aims to promote investment in Thailand and Thai overseas investment to enhance Thailand’s competitiveness, to overcome the “Middle Income Trap” and to achieve sustainable growth in accordance with the sufficiency economy philosophy. Between 2016 and 2019, invested capital in tech startups has risen by a factor of eight reaching a peak of US$861 million in 2019. The good news is that the Thai government has vocally noted its support and capital for increased investment in technology and entrepreneurship. Found inside – Page 439From a governmental perspective, the Thai government started its ICT ... Concerning Thailand's startup ecosystem, the number of funded startups in Thailand ... Thailand has also seen a rise in investment from $80M (2018) to $130M (2019). Despite the growing number of startups present, investors and business analysts still point out the infancy of the Philippine startup scene. The Bank of Thailand held its benchmark interest rate at a record-low level of 0.5 percent during its August meeting, aiming to support the economy amid its worst pandemic crisis to date. Because remittances are made via the blockchain and not bank wire, they are cheaper and faster. It is good to observe that the Thai Government is focused on specific sectors that are of economic and strategic importance to it and coming up with programs and incentives to promote those sectors. (Source: Inspire Ventures), InVent (Bangkok): Invests in early to growth-stage tech startups focusing in Thailand and overseas, regardless of sector from digital lifestyle consumer to digital enterprise and emerging technologies. According to data from bekraf.go.id in 2018, there are currently at least 992 local startups here in Indonesia. As for the government side, many are pushing for new regulations, especially in the fintech space. In mid-2015, the company raised a pre-Series A venture capital funding round and expects to raise a full Series A round later in early 2016. There is no start-up cost for transporters, but once they sell the service, they pay commission to the website. The guest editor is not responsible for content within the Country Snapshot and Community sections, as much of this content is compiled from external sources and does not necessarily reflect the guest editor’s view. (Source: ImpacTech), Krungsri Rise (Bangkok): Works with corporates and government across Southeast Asia to run a tailor-made “Growth Accelerator” program that creates an environment for startups and corporates to create a win-win partnership that can drive the local economic growth, technological and innovation progress, and improve the standard of living for Southeast Asia (SEA). For more information, please check out startupinthailand.com for comprehensive startup solutions in Thailand. (Source: DGA), ETDA: Created to meet the economic structure that has changed from an analog society to a digital society, an era where everyone can access information at the touch of a finger. A program for startups who use technology to tackle social issues. An online and offline community with the sole focus of enabling entrepreneurs from all walks of life to succeed in building their ventures. Editor’s pick of which ‘Featured Startup’ is especially worth following and why. It is the common name of the company Think and Learn Private Ltd. (Source: PTT), Singha Ventures (Bangkok): A corporate venture capital unit of Singha Corporation, part of Boonrawd Brewery Group, that invests in startups with a focus on consumer products, logistics, and enterprise solutions. We have Ruby, NodeJS, Java, .Net, WordPress, Joomla, PHP and other back end programmers, front end developers, and digital designers on staff. Invests in consumer brands for the digitally native; platforms that enable digital transformation of SMEs; global technology leaders born in Asia. Thailand's Leading Cryptocurrency Exchange - Founded in February 2018, Bitkub is … This list of startups in Thailand provides data on their funding history, investment activities, and … ... startups, and venture are set to thrive in 2021 ... (IoT). Percentage Non-Profit 0%. Published by Statista Research Department , Sep 8, 2021. (Source: Krungsri Rise), SPARK Thailand (Bangkok): Supports high-potential Thai startups in early-stage through intensive mentoring sessions with regional and international experts to guide and improve startups’ capabilities, products and solutions to reach the global market’s needs. But, there has yet to be a homegrown unicorn startup, nor is there the momentum needed to support growth on a large scale. One of the app's highlights is the "shake and go" feature, which allows two parties in an car accident to make an insurance claim without waiting for a surveyor from their respective insurance company to arrive at the scene. Thailand remains an intriguing market due to its tech-savvy population and its recent growth in emerging industries such as fintech. Found inside – Page 77On Sunday I returned from a week in Thailand , where I received briefings ... This same phenomena can be seen in many small companies and in some startups . ... the total number of people connected to the Internet to 360 million in 2019. For this year, STARTUP THAILAND 2019 is joining forces from the top startups in Thailand and from around the world, and players in startup industry from government and private sector, community, and cooperation network from 25 countries will exhibit works from more than 500 startups to open you to new perspectives and find the greatest business idea that will grow to be a UNICORN, … Found inside – Page 131Thailand has been implementing a number of initiatives to promote the ... First, new and small firms face considerable financing constraints; many startup ... Sign up to our newsletter and stay informed about the latest developments in Thailand regarding work, business and investment. The Ministry of Science and Technology is the primary responsible unit for Startup Thailand. If there are more initiatives that promote investment, enable research commercialization and support DeepTech development by relevant parties, we are certain that big opportunities can emerge from this vertical. For example, The Thailand 4.0 government project is tasked with providing the foundation needed for large-scale fintech growth. This is a list of unicorn startup companies.In finance, a unicorn is a privately held startup company with a current valuation of US$1 billion or more, across technology centers throughout the world.. Since 2011, Thai startups have cumulatively attracted 337 million That said, as mentioned above, government regulations need to evolve in accordance with the new focus on technology. Disclaimer: all content within the Startup Ecosystem Summary and Editor’s Guide sections is written by and reflects the personal perspective of the guest editor. Found insideCountry ACTINDEX Opportunity startup Tech sector Quality of human ... 0.34 0.36 Panama 0.24 0.52 0.00 0.25 0.38 Thailand 0.24 0.35 0.03 0.39 0.33 Jamaica ... Hubba also entered a joint venture with Sansiri, a property development company, to launch Hubba-To, a co-working space and artisan hub concentrating on arts and crafts. In the meantime, the concern is that regulators do not have a thorough understanding of new technologies and their implications, so sometimes they’re not able to assess the technology or create a policy to enable real transformation while minimizing risk. This year has been the year of the Thai start-ups, with the number of companies jumping from 300 in 2014 to over 2,500 in 2015. In recent years online retail sales have exploded as ecommerce marketplaces have taken over. FINNOMENA, Thailand’s number one investment advisory service, focusing on crowdsourcing robo-advisory approach, aims to have over 100,000 users with combined asset under its advice worth more than a billion baht. Utilizes cloud data and digital technologies to offer nano-finance and credit services that improves the underserved quality of lives and business opportunities. Beyond providing seed capital, 500 supports startups via their Seed Accelerator Programs that emphasize digital marketing, customer acquisition, lean startup practices, and fundraising for pre-Seed companies. However, transformation on a national scale requires more than a few years. Giztix is an e-marketplace for worldwide logistics services which covers pick-ups, trucks, freight and customs clearance. Therefore, the opportunities for travel firms are immense considering the need for localized travel. Photos 15. LinkedIn Top Startups 2018. Although there is currently no unicorn (start-up whose company's valuation is worth over US$1 billion) in Thailand, there is expected to be one by 2020. However, transformation on a national scale requires more than a few years. Thailand is considered to be the third-largest 4G market in Southeast Asia.  Decent market size, Technology adoption, and other support infrastructure are easily accessible making it an easy breeding ground for a startup coming up with a differentiated solution to solve problems faced by people. It is a country well known for its tourist destinations and people from all over the world flock to this wonderful country. Alipay’s e-wallet partnerships in the SEA: TrueMoney Wallet, Thailand; GCash, Philippines; Touch’n Go, Malaysia; and Emtek, Indonesia. Found inside – Page 831Six emerging markets economies like Vietnam, Philippines, Thailand, ... Total number of startups in US is 84,000 whereas India has only 10,000 startups. Found inside – Page 118... of workers employed in large companies.5 What about new business startups? ... examining the share of startup firms, Uganda is number one, Thailand two, ... (Source: Ascend), Beacon Venture Capital (Bangkok): Invests in early to growth-stage technology startups covering not only financial technology (fintech) but also consumer internet and enterprise technology such as artificial intelligence (AI) and enterprise IT. (Source: Chulalongkorn University - CU Innovation Hub), King Mongkut's Institute of Technology Ladkrabang - KMITL Lean Startup Camp / Entrepreneurship program (Bangkok), Thammasat University - TU CONC, Digital Degree (Bangkok). Startup in Thailand assist budding entrepreneurs in startup projects and often involve in Project Financing or Joint Ventures. The free version comes with basic features including creating quotations, billing notes, invoices, receipts and purchase orders. Despite the 2020 boom in start-ups, not all will be long-term fixtures. Digital Ventures was founded by SCB, a Thai bank, first of its kind by a bank. This book discusses important topics for engineering and managing software startups, such as how technical and business aspects are related, which complications may arise and how they can be dealt with. For reference, the startup densities (startups/population) in Israel, the United States, and Singapore range from one startup for every 2,000 to 3,000 people. In the digitalized world, AI and Machine Learning plays an essential role … Thailand is one of the world’s leading suppliers of agricultural products. ImpacTech aims to empower social tech startups in Thailand and create a vibrant social tech community of startups and supporters. Maker Zoo focuses on providing knowledge, tools and skills in product development. Chris sits on the governing and advisory boards of a number of high-impact early-stage companies. She is currently a partner at CR Strategy Consulting, collaborating with corporate and venture capital clients to innovate at startup speed. The startup rating system Oddup ranks start-ups with a rating from 1-100. With offices in Thailand, Indonesia, Singapore and Korea, Pomelo is quickly expanding across the region. But if we look at the sheer number of deals rather than the amount of funding, E-commerce stands at the top with 24 rounds of funding almost triple the number for second/third in line (Fin-Tech and Logistics, 9 rounds each). Thai Government has come up with a five-year initiative (2016-2020) to become one of the top five exporters of halal products and services in the world. In 2015, it bought Kunal Shah’s Freecharge for over $400 million. Their contribution to the national gross domestic product (GDP) ranged between a whopping 85% (Cambodia), to the low to mid-30s (Malaysia, Thailand, the Philippines). (Source: Monk's Hill Ventures), PTT (Bangkok): Invests in startups with a focus on technologies that electrify energy system, enable better transportation, make energy usage more efficiency, enhance sustainability, enable the use of internet of things in industries and other new kind of solutions which could become growth drivers. To attract foreign talent, the government also initiated a smart visa program. วัฒนา, Bangkapi. The government supports this sector through the creation of regulatory sandbox and multi-national e-payment initiatives such as PromptPay. As of 2017, there were around 600 startups in Thailand, which equates to approximately one startup per 113,000 people. Invests in early stage and high growth businesses that are scaling proven, and sometimes novel, business models in the Southeast Asia markets with a strong emphasis on localization. It hosts monthly pitching events offering 5 startups the chance to pitch. Have someone in mind? Despite the cultural pressures, there is a big shift of the mindset among new graduates. A growing number of fintech and migrant tech startups are trying to address those issues. Details in your fundraising information will be shared to the investors. Number of users: Currently it has around 1,000 users and claimed to be ranked 20th in the travel category of the Apple App Store. The 3D printer allows an infinite number of designs to be made. based startups, with 2019 showing greater geographical diversification in capital deployed. (Source: Meetup), Internet Entrepreneurs Network (Thailand) (Bangkok): A group for anyone who is interested in internet entrepreneurship and internet marketing. You may also download an e-book on Startup in Thailand which describes the common pitfalls in a startup and provides valuable tips for doing business in Thailand, For Startup Business: How to Attract Potential Employee, Advantages of Launching a Business Website, Your email address will not be published. "His wide-ranging knowledge of the expat community is evident from the real-world examples make this book authentic. Found inside – Page 55Like other developing countries, Thailand's high-tech industries in particular ... capital industry that invests in startups that are either commercializing ... Thus, the vast majority of global executives admit that their industries will be disrupted to a major or transformative extent. In Thailand, it is interesting to discover To the advance, the development of startups, Minister of Science and Technology, in alliance with private entities, academic institutions, government departments, has organized ‘Startup Thailand’ as a platform for investors, students, founders and entrepreneurs to showcase their startup ideas. The Digital Economy Promotion Agency aims to support and promote the development of digital industry and innovation, support and promote digital technology adoption. Pomelo’s key differentiator is it updates its offers frequently and is always at the forefront of high-end fashion. Startups in both USA and India carry the same structure and principles. Giztix is like Uber for logistics. As the price of 3D printers has been coming down, it has attracted more users looking for ways to create products. It aims to incubate, fund, mentor and develop a startup that has the ability to scale up to entire Asia, maybe the entire world. Fin-Tech is at the top of the list, followed by Food Tech, Ecommerce & Lifestyle, and Logistics & Transportation, etc. Invests in early stage technology companies across Southeast Asia with a focus on eCommerce opportunities - including sourcing, fulfillment, retail, demand generation and payment gateway among others. Started in 2012 and based in Bangkok, Hubba has a presence in over seven locations, with minority investments in co-working spaces in Chiang Mai and Vientiane, Laos. (as of 2012 there were less than 5). AI And Machine Learning. Thai Startup should focus on incorporating these technologies into their innovation so that the technology which supports their business idea is futuristic. Found inside – Page 119Training The crisis exposed a number of weaknesses in the public training and ... Indonesia and Thailand also implemented similar programs for labor in ... Thailand's successful startup industry expected to see double-digit growth in 2018, driven by local funding and foreign venture capital. There are around 300,000 users so far this year. Who will likely get digital bank licence in Malaysia? The Thai startup ecosystem, including local corporate venture capital, Chinese conglomerates, and the Thai government, have started to pledge their capital and invest in innovation. The fund will finance some 2,500 existing startups in Thailand, Bangkok Post quoted Information and Communication Technology (ICT) minister Uttama … US-based 500 Startups aims to invest in 80 Vietnamese startups by 2021. In 2016, Startups in Thailand raised funds of about 86 million USD. Procedures (number) 5 Time (days) 6 Cost (number) 3 Paid-in min. Found inside – Page 32Unlike in the US, our tech start-up ecosystem is quite small and the number of entrepreneurs that have previously had successful companies and good exits is ... It was followed by 17.5 million USD in Omise Payment and 15 million in Orami. At Umpire Legal, we take worry & uncertainty out of starting a business in Thailand, eliminate the unnecessary guesswork from the complex legal process and help get your Thai company set up for real success. Thanks to a growing middle class, burgeoning Logistics sector and rise in mobile payments, growth in this sector has been excellent in recent years over other sectors. As per Thailand Market Research performed by some of the major business consultants, Thailand has a population of about Most of the Fin-Tech startups are in e-payment services- online payment services, electronic payment systems, and e-wallets. At the end of the month, the service will send emails informing customers of the total cost. From the government side, if the new regulations are passed, we expect to see more innovation being implemented at a large scale, which will help Thai startups expand and create new opportunities. Join us at the Rembrandt Hotel Bangkok (Sukhumvit soi 18) on Wednesday 30 March 2016, from 8:00am, for a full day and evening of Keynotes and Panels from Thailand best Startups, VCs and Investors.. Meet the Founders and Co-Founders, Learn about the best Startup ideas, Find out who has been … The major food exports include seafood products, rice, meat, sugar, vegetables, and fruits. Invests in post-seed stage tech startups that will take advantage of the fast growing Southeast Asian markets. This list was extracted from our Fintech Malaysia Report 2019, it is intended to serve as a comprehensive list of fintech companies and startups operating in Malaysia.. E-commerce presents a large growth opportunity in Thailand, led by companies like aCommerce and Pomelo. Skootar claims to be able to match a customer and a messenger in less than 15 seconds, with notification to customers. Include a personal note: /200. An initial entry permit is a bluish rectangular ink stamp paced into your passport by an Immigration officer of the Royal Thai Police, at an entry point into Thailand. (Source: ETDA), NIA: Supports Thailand’s innovation system, in both the way of improvement and initiation, to promote economic restructuring and competitive enhancement. Found inside – Page 480The country also has the highest number of startups per capita in Europe. 4. ... Thailand is a land of surprise (and beautiful beach 11. aCommerce recently signed a strategic partnership with DKSH, a Swiss-based market expansion service provider, that involves an eight-figure investment for a minority stake and access to DKSH clients and infrastructure across the region. Two-year-old MAJORITY is one. Startup Thailand x Innovation Thailand Expo 2020 9.00-18.00. StockRadars was top-grossing in the App Store for a long time and it is the mobile app that generated the highest revenue in Thailand in the financial category. You will get the updates within 24 hours. With the concept "buy and rent from owners without commission", the website allows Thai people to buy, sell or rent homes quickly and cheaply, as sellers offer the complete necessary information, while buyers use the tools on the website. Top Funding Types Seed , Pre-Seed , Series A , Series B , Angel. The Thai government should, effectively and efficiently, transform the strategic objective, behind those programs which it has initiated towards promoting startups, into a viable operational plan with responsibilities and goal assigned time-bound. Thailand also requires an experienced pool of mentors to guide entrepreneurs to transform themselves from a startup phase to a stable company with sustainable and healthy growth, without forgetting unit economies in name of growth in size. (Source: Galaxy Ventures), Golden Gate Ventures Thailand (Singapore): Invests in early stage startups with a focus on internet & mobile startups across many sectors, including e-commerce, payments, marketplaces, mobile applications, and SaaS platforms. There are several government grants available for startups in the area of AgriTech, SmartCity, Tourism, FoodTech and others that are considered important to the local economy. The size of the global halal industry is estimated to be around 10 billion USD by 2030 and considering that more than 60% of Muslims in the world live in South Asia and the Asia Pacific, the opportunities are immense for the aspiring entrepreneurs to miss out on business development in Thailand. A group for anyone who is interested in internet entrepreneurship and internet marketing. In many ways, Thailand is more industrially developed and commercially tied to the West than much of Southeast Asia. Are you trying to decide on a business phone service you can use to stop using your personal phone number for business calls? (Source: True Incube), Startup Thailand: Startup Nation (Bangkok), Techsauce Global Summit (Bangkok): A diverse cultural festival that goes beyond tech into music and fashion. There is still a mismatch between corporate or government requirements and startup solutions, making it difficult to implement new programs promoting innovation. The biggest startup deal that happened in Thailand was an investment of 19 million in Ookbee by Chinese Internet giant Tencent. We are a BOI approved company for business support. Interested in becoming more involved in this ecosystem and connecting with local ecosystem leaders? Ideally, experienced startup experts would be involved in the policy making process. Tips. Strong founding team members with successful products are usually a combination of Thai and foreign founders. Consult the Startup Specialists for any assistance in Thailand for your projects. (Source: Line Ventures), Monk's Hill Ventures Thailand (Singapore): Invests in post-seed stage tech startups that will take advantage of the fast growing Southeast Asian markets. It is available for a 30 day free trial. Maker Zoo is a start-up that uses a 3D printer to inspire people to create products. In 2015, it bought Kunal Shah’s Freecharge for over $400 million. Performance evaluation should be done periodically so that programs that are not generating results can be pruned out at the early stage. Most tourists seek localized travel experience, creating demand for local search and discovery services and local guides. Please check out the Thailand Industries where you can check out various industry reports and how they fare. At the same time, our goal is to help drive a thriving startup ecosystem here in Thailand by providing the support and opportunities to connect and grow startups wanting to take their businesses to the next level. Thai Startups have expanded and diversified in the last five years and they are in the expansion phase now. Invests in series A startups with a focus on applying innovative business models to large industry sectors that are set in their ways, using technology as an enabler. Invented by SiamSquared Technologies, StockRadar detects stock signals such as price or volume movement, and displays stock details in the form of a cube. Ideally, experienced startup experts would be involved in the policy making process. Created to meet the economic structure that has changed from an analog society to a digital society, an era where everyone can access information at the touch of a finger. What’s the monthly revenue? The startup has a … (Source: Thailand Board of Investment), Chulalongkorn University - CU Innovation Hub (Bangkok): Through research, education, competitions and activities, the center is responsible for developing the creativity, critical thinking, and entrepreneurial skills of CU students and personnel, and distributing innovative ideas for the benefit of the society and economy. Promising as overall costs for startups who use technology to tackle social issues less. Sharing concept Thai market time, so they can sell the service will send emails informing customers the. Of objects, before they are in the fintech space stage start-ups with a focus on tech! Developer ) the right decision startups support across technology, market development, and opportunities. Thailand offering select startups support across technology, market development, and e-wallets company a! Locally-Sourced news and Insights covering startups globally to evolve in accordance with the private sector SSL and... 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