The program include the following key policies and actions include
(1) The entrepreneurial university program to transform universities across the country to become entrepreneurial universities. The entrepreneurial university program composes of several activities including entrepreneurship education and startup boost camp, innovation playground development, specialized incubator development, translational research grants to support university spin-offs, and corporate-university linkage program (business brotherhood) to enhance entrepreneurship.
(2) Early startup support and grants including, Innovation Coupon, Software Dee, Startup Voucher programs to nurture early stage startups with high risks with opportunity to grow.
(3) New legislations and tax incentives to increase number of new ventures including 5 years corporate tax exemption for new ventures and to boost up the development of venture capital industry in Thailand including the exemption of corporate and capital taxes for venture capitalists. New legislations will also include the study and
(4) Creating startup districts and co-creative spaces to provide environment for startup to grow. The startup district program will be joint efforts of industry-university-government agencies. The pioneer districts include (a) Yothi Districts, led by the National Innovation Agency, Mahidol University, and a number large research-based hospital and medical schools (b) Siam Square District, led by Ministry of Science and Technology, Chulalongkorn University and Kasikorn Bank (c) Klongsan-Thonburi District led by Ministry of Science and Technology and King Mongkut University of Technology Thonburi (d) Nimanhemindha District, led by Ministry of Science and Technology and Chiang Mai University.
(5) Developing national program to support incubators and accelerators both public and private.
The Government has incorporated the National Startup Committee, chaired by the Permanent Secretary of the Ministry of Finance, will be the key focal point for the development of startup ecosystem in Thailand. The Committee has established 4 working groups, including the working groups on entrepreneurial awareness, on startup ecosystem, on incubation and acceleration development, and on support and incentive policy. The National Startup Committee’s secretariat team, run by the Ministry of Finance and the Ministry of Science and Technology and, already submit the National Startup Policy Development Framework to the cabinet for approval.
Startup Thailand-Project Management Office (Startup Thailand-PMO) incorporated under the Ministry of Science and Technology, is responsible for the implementation of several key initiatives and activities including the entrepreneurship education, startup district development,
The National Science Technology and Innovation Policy Office (STI) as the chair the National Startup Committee’s working on startup ecosystems is commissioned to monitor and evaluate the development of startups and startup ecosystem. STI is working with Thailand Tech Startup Association (TTSA) to develop key indicators and a measurement framework for startup development in Thailand with the aim to publish regular Thailand startup report.
Startup Thailand National Program was officially kicked off the Startup Thailand 2016 event under the theme “Unite to Rise”. The event is very successful as it draws some 36,000 participants to become one of the largest startup event in Asia. The event gather more than 180 startup exhibitors, 50 organizations, 200 speakers, domestic and international. The event has provided a good momentum for Thailand to design and establish startup support, under the provision of National Startup Committee.
Challenges include the alignment of Startup policy design, formulation, and implementation as there are a number of agencies across Ministries responsible for startup development and support. Also, the linkages among public sector, well-established enterprises, academia, and startup community are still somewhat weak. Also, startup community still do not command full trust of the government. The establishment of the National Startup Committee and 4 core working groups that bring together all stakeholders aims to address this challenge.