Govt plans ‘Digital Fund’ for start-ups to take effect in September

Economy June 20, 2017 01:00

By JIRAPAN BOONNOON
THE NATION

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THE GOVERNMENT will spend Bt5 billion to set up a “Digital Fund” to support digital entrepreneurs and start-ups, with funding to be distributed beginning in September.



It also will work on introducing a start-up visa to allow such companies to import experts to support their businesses. 

Digital Economy and Society Minister Pichet Durongkaveroj said a government committee had been charged with managing the Digital Fund to find ways to deliver funding to digital entrepreneurs and start-ups. 

Meanwhile, the DE Ministry is developing a measure whereby start-ups will be able to invite experts to work with them and transfer technology to their businesses, including work-permit privileges. 

If the measure is implemented, the country will be able to benefit from foreign experts’ professional knowledge as they provide their knowledge and know-how to local start-ups. 

Pichet said the government had the potential to accelerate and facilitate start-ups in various areas such as the agriculture, automotive, tourism and healthcare industries. 

He said the country now had around 5,000 start-ups and the government expected that number to double by the end of this year. 

“Thai start-ups are of good quality and have potential to expand. The government will try to help local start-ups expand their business in both the domestic and international markets as well as creating a nationwide start-up ecosystem.”