Several big events took place around town over the past weekend, and one of the most successful was "Startup Thailand 2016" at Queen Sirikit National Convention Centre, which ended on Sunday.
Hosted by the Ministry of Science and Technology, the event was professionally organised with the focus on effective collaboration among several involved parties in the public and private sectors. It also proved the government's support and awareness on the potential of Thai young entrepreneurs.
It was held under the concept "Unite to Rise", with the tag line, "a get-together of start-ups to make a big move to Thai economy". The four-day event was a powerful platform that unveiled over 200 top start-ups, participated in by public and private sectors in Thailand and over 10 international start-up support agencies. Inspiration abounded from new entrepreneurs, ranging from college and university students, office workers, a new generation of farmers to corporate executives, so they could get an insight into start-ups and further develop their businesses sustainably.
Minister of Science and Technology Dr Pichet Durongkaveroj noted that this event would accelerate the growth and increase the opportunity of Thai start-ups which will be a key driving force to push forward the Thai economy.
The inspiring event was expected to attract 10,000 attendees, but the actual number could have reached more than 20,000.
The start-up exhibition zone was divided into categories in line with entrepreneurs from different types of business including tourism, transportation, utilities, agriculture technology and food technology start-ups, education technology, property technology, lifestyle start-ups, e-commerce and logistics start-ups, financial technology start-ups and healthcare start-ups.
Dave McClure, founding partner at 500 Startups, a global venture-capital firm based in Silicon Valley in the US and who was a keynote speaker, said Thailand has high potential for start-up investment.
McClure started 500 TukTuks, a micro-fund under 500 Startups, to put investment in promising Thai new projects. The venture capitalist sees an opportunity to "invest early and often" in the next generation of Thai-based entrepreneurs.
At the event, 500 TukTuks announced an investment of US$1.1 million (38 million baht) in T2P, creator of the e-Wallet App DeepPocket. The funding round also saw participation from Bechnachinda Holding. T2P is based in Thailand and the additional capital will be leveraged to expand their services beyond Thailand and into other Asean countries.
"Financial technology is a global phenomenon and it is growing rapidly in Thailand", said Krating Poonpol, fund manager of 500 TukTuks.
The first ever grand start-up event in Thailand ended on Sunday though the real chapter for Thai start-ups is now just beginning.
