BOI joins hands with NA to organize the “BCG Startup Investment Day” exhibition to increase opportunities for the group. Start-up enterprises have access to funding. Mobilize measures to support both the government, the private sector and investors, aiming to build a network business expansion partners Driving Thailand into a new economy
Ms. Duangjai Asawachintachit Secretary-General of the Board of Investment or BOI revealed that the BOI, together with the National Innovation Agency. (Public Organization) or NIA organizes the exhibition “BCG Startup Investment Day” under the concept of economy. Bio-Circular-Green Economy (BCG Economy) for the first time to promote and support startup enterprises or potential startups to access various funding sources and support measures, as well as open a network of partners to build on future business opportunity
“This event This is the first time that the BOI, NIA and more than 10 partner agencies, both public and private, and investors jointly organized to support startups with technology, innovation and creativity. but lack of funding have the opportunity to access funding sources and measures of the public, private sectors, including investors by gathering support measures in one place This event focuses on startups in the BCG group, in line with the BCG Model, which is an important guideline for the next period of Thai economic development,” said Ms. Duangjai.
Businesses in the BCG group are considered very important to the Thai economy. As can be seen from the statistics of applying for investment promotion in the past 2021, applications for investment promotion in the BCG industry totaled 152,434 million baht, an increase of 123% compared to the same period last year. Of the 746 projects, an increase of 63%. From 2015 – 2021, applications for investment promotion in the BCG industry totaled 675,781.
million baht, total 2,996 projects
The BOI has measures to support businesses in the BCG and related industries. Covering various types of businesses Whether it’s a big business or a small one and realizes the importance of startup entrepreneurs with technology and innovation, ready to create changes for the economy and society and help to strengthen and upgrade the Thai economy towards sustainable development in the future. In addition to investment promotion measures under the Investment Promotion Act such as corporate income tax exemption Exemption of import duty on machinery Including facilitating measures such as Smart Visa, the BOI has also issued financial measures to support startups in the targeted industries under the Act on Improving the Country’s Competitiveness for Targeted Industries B.E. 2560 (2017). as well, focusing on groups with innovations or technologies that have the potential to have a positive impact on
economy and society
Dr. Pun-Arj Chairat, Director of the National Innovation Agency (Public Organization) or NIA said that one of the main missions of NIA is to promote and support the creation of innovative businesses. To drive the country’s economy under the concept of “BCG Model”, especially startups that use deep technology (BCG DeepTech Startup) in 3 areas, namely FoodTech, Agriculture (AgTech), and Medicine (MedTech), which are fields with high opportunities and potential for growth But there are still a small number and it takes time to apply the complex technology from research and development. to lead to competitive advantages
Therefore, NIA has set up a framework to develop entrepreneurs or startups that use in-depth technology. To accelerate the building of competitiveness from the concept stage, prototype, market trial, expand growth until complete ready to be the driving force of the country’s economic system The goal is to create 65 BCG DeepTech Startups within 3 years. It is an opportunity for startups to have access to both domestic and international funding sources. including support measures from relevant agencies, all in one place It is also open to Thai and foreign startups who take part in pushing the BCG Startup Ecosystem in a concrete way.
Saran Sutantivorakun, President of the Thai Venture Capital Business Association (TVCA), said that he is very pleased that government and private agencies have given importance to promoting the growth of startups in Thailand. especially small start-ups that lack a ton of start-up capital Currently, Thai startups have a good understanding of business fundamentals. technology has been developed and innovations in line with changing lifestyles which will help create a new economy
to the country
The exhibition “BCG Startup Investment Day” will be held on March 24, 2022 at C asean Center, 10th Floor, CW Tower, Ratchadaphisek Road. Activities can be divided into Startup Pitching activities.
Startup Talk and Affiliate Networking Activities It is expected that there will be at least 1,000 entrepreneurs participating in this event both online and offline. Interested parties can contact www.boi.go.th, telephone 02-5538111.