The Thai government is promoting the country as an attractive investment destination for startups in Asia with the aim of raising 30 billion baht in funds from investors by 2020.
The «Bangkok Post» reports that the National Innovation Agency (NIA) will soon sign a memorandum of understanding (MoU) with the Ministry of Economy, Trade and Industry of Japan for startup collaboration, plus another MoU with China's leading technology firm for firm for an accelerator development scheme.
The NIA recently entered into a similar collaboration with the Israeli government to form an accelerator development scheme to support high-potential Thai startups.
The Thai government, meanwhile, has also relaxed the rules of doing business with startups.
The ASEAN Fintech Gateway
Last year The Bank of Thailand announced it would open the way for financial-technology product experimentation under its regulatory «sandbox.»
In another sign of the country's lure as a financial technology gateway to ASEAN, Thailand's Bangkok Bank has partnered with Nest to kick-start its international fintech startup program.
«Given our geographical location, large population and variety of industrial sectors, Thailand can be an investment hub for startups in this region,» said Pun-Arj Chairatana, Director of the NIA under the Science and Technology Ministry.
In Thailand, there are nine targeted industrial sectors for startups including insurtech, fintech and e-commerce.
