Thailand has yet to see a healthier startup ecosystem than the present. Starting out with three startups in 2011, it now rules Startup and Digital Nomad Index’s list of the best startup destinations in Asia.
On a global scale, Bangkok takes the seventh spot, with factors such as quality of life, cost of living, rent, the ease of starting a business, office space, and monthly salary accounted for. This does not come as a surprise, especially with the increased support the Thai government is giving to the startup community.
In an effort to position the country as an Asian startup hub, the government has called for an acceleration of three laws pertaining to startups. 2018 also sees further growth in government support, with the government due to spend US$312 million on the startup community. Under the Thailand 4.0 model, benefits like incentive packages, different funding options, and smart visas are also made available to those looking to venture into the industry.
Tying in with government efforts to accelerate the growth of the Thai ecosystem comes the 200,000 sqm digital innovation park, True Digital Park, which is due to open its doors in March 2019 to host some of Thailand’s biggest startup players. The park brings together the necessary elements to build a thriving startup into a single location.
Tech in Asia takes a peek at the Thai startup ecosystem’s biggest players.