Govt plans ‘Digital Fund’ for start-ups to take effect in September
June 20, 2017 01:00 By JIRAPAN BOONNOON THE NATION 4,371 Viewed
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.”