| Startup Thailand | TH |
Government Support:
When the Public Sector and Thai Startups
Join Hands to Go Global
In an era where Thai startups need to grow rapidly, having a “government partner” to support them in every dimension becomes a crucial element for sustainable development. “Government Support,” organized by the National Innovation Agency (Public Organization) or NIA, is a platform that brings together public sector agencies driving the Thai startup ecosystem. These agencies provide a full range of tools and mechanisms to support startups, helping them understand the role of the public sector and effectively expand their businesses.
NIA has systematically designed its startup support mechanisms under the “Groom – Grant – Growth – Global” concept. This begins with nurturing a new generation of entrepreneurs through the Startup Thailand League program, a nationwide competition for students to pitch ideas and create innovative prototypes, continuously laying the foundation for future entrepreneurs. In terms of funding, the Regional Open Innovation program provides regional innovation grants of up to 1.5 million baht, while Thematic Innovation supports startups in target industries such as FoodTech, AgriTech, Circular Economy, Clean Energy, EV, AI, and Medical, with grants of up to 5 million baht per project.
Additionally, NIA focuses on developing and accelerating the potential of startups in future industries, including FoodTech, Climate Tech, Ag Tech, HealthTech, and Travel Tech, through its Accelerator program. It also provides opportunities for ready-to-scale startups to expand into international markets, targeting ASEAN+, the European Union (EU), and the GCC countries (Qatar, Saudi, UAE) through business matching, partnership linkages, and the promotion of international investment.
The Digital Economy Promotion Agency (depa) plays a vital role in systematically driving the growth of Thai digital technology startups, from the early stages to international market expansion. This is done through programs like depa Growth Lab and depa Global Launchpad, which nurture and accelerate startups in FinTech, EdTech, AgTech, Travel Tech, HealthTech, and Industry Tech sectors. depa offers various funding options, including grants and convertible notes ranging from 200,000 to 5 million baht, as well as tax benefits such as exemption from Capital Gains Tax and a 200% tax deduction for purchasing technologies listed in the Thai Digital Catalog.
Meanwhile, the Technology and Innovation Entrepreneurship Development Fund (TED Fund), under the Office of the Permanent Secretary, Ministry of Higher Education, Science, Research and Innovation, focuses on empowering technology entrepreneurs. It provides support from proof-of-concept and business plan development to prototype creation and real business expansion. The fund offers four types of grants: 1) Proof-of-Concept (IDEA) Grant, which must be under the supervision of a certified incubator or TED Fellow; 2) Business Plan and Prototype Development (POC) Grant; 3) Startup Promoter Grant; and 4) Business Expansion Grant of up to 2 million baht per project, with a project duration of no more than 24 months. Applicants can be students, recent graduates, or corporate entities.
The Board of Investment of Thailand (BOI) also has a prominent role in promoting high-potential startups under the Act on Increasing the Country’s Competitiveness for Target Industries. It offers a Matching Fund of 20–50 million baht, where the BOI co-invests with capital received by the startup from a VC or CVC. This comes with special benefits such as visas, work permits, land ownership, and corporate income tax exemptions for up to 15 years. Key conditions include founders holding at least 60% of the company’s shares and receiving a minimum investment of 15 million baht from a VC or CVC. The business must also operate in a target industry, such as digital, agri-tech, or medical.
Finally, the Stock Exchange of Thailand (SET) has developed the LiVE Exchange and LiVE Platform as fundraising and business incubation venues for high-potential SMEs and startups. Those with VC or PE co-investment can effectively raise between 10–500 million baht. The platforms offer relaxed governance and financial standards, suitable for businesses in their early to scale stages. Standard business documents like shareholder agreements, NDAs, term sheets, and privacy policies are also provided to help startups manage their internal affairs professionally. Additionally, a comprehensive support system on the LiVE Platform includes:
1) Education Platform
2) Scaling Up Platform
3) Business Matching & Networking,
along with standard business documents. Today, Thai startups are no longer alone. Public sector agencies are joining forces to pave the way for a strong and sustainable future, pushing Thai businesses to fully reach the global stage.
