Thailand startup and venture capital ecosystem study

Growing the seeds of innovation in Thailand

The Thai startup and venture capital ecosystem faces a number of growing pains. But with the right multi-stakeholder collaboration, there is opportunity to develop these industries to become regional leaders.

Thai startup ecosystem is currently ranked #53 globally and #11 in Asia Pacific.1 This report outlines a number of challenges Thailand must overcome to improve its rankings—including limited risk capital available, particularly in the seed stage; lack of impactful government programs to drive innovation; and few unicorn success stories to attract top talent into the field. These chicken and egg conundrums often present a negative feedback loop for stakeholders. 

So, how can Thailand successfully move from a negative loop to a virtuous cycle? In our report, we look at lessons learnt from countries abroad - including Singapore, Malaysia, the United Kingdom, and Israel - that Thailand can consider when developing its startup and VC ecosystem.

One of the key lessons to consider is about the role that governments play to support their respective innovation ecosystems. In particular, we found that governments that adopt a strong national vision, coordinate their multiple agency efforts, and establish cornerstone innovation programs (such as equity matching programs) in pursuit of this vision are often able to find early momentum and success.


Key Contacts

Metinee Jongsaliswang
Executive Director,

Kenneth Tay
Executive Director, Consulting

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