Thai Government Grant’s Available to Startups
As a Thailand based startup DRVR conducted some analysis of the various government schemes available. This was a time consuming process with information largely being unavailable in English.
Whilst there are some grants available to startups in Thailand these are entirely restricted to startups which have 51% ownership from a Thai national. We also heard (from a number of startups) that the processes involved were sometimes very laborious and the actual payment of the grants were sometimes many years in arrears.
Please note that these grants do change and that the information provided below should only be used as a guide.
If you want to find out more then contact the relevant Thai bodies.
The grants available from the HK, Singapore and Bahrain governments are far more generous and don’t have racial criteria attached to them.
- NIA coupon
It is a project to provide financial support for SMEs / startup in innovative business for commercial purposes. The government give money to support not more than 1,500,000 Baht.
Conditions
1. Startup: Emerging businesses that have developed products or services. Business innovation model that can be repeated (Scaled) and expand (Scalable) to increase value and increase growth (Exponential growth).
2. It is a Small and Medium Enterprises (SMEs) as defined by the Ministry of Industry.
3. A juristic person registered in Thailand holding fifty one percent of the share capital of such juristic person is held by a Thai individual.
4. The project is not supported by other agencies.
5. Not a bankrupt in accordance with the judgment of the court in civil cases, or punished in criminal cases
Project Financing Model
-NIA will provide grants in the form of a “coupon” mechanism to support small and medium enterprises. It is divided into compensation such as innovative service provider pay (ISP), consultant wage, Feasibility Analysis (Feasibility), except for compensation. Directors and authorized signatories of corporate sponsored pay are paid to temporary employees in accordance with the actual costs incurred and assigned who directly work with the innovative coupon program. It is not including employees in other areas not related to this project, and not include salary wages of the project owner and staff costs and materials involved in the innovative coupon program. The following items. Cost of consumable material not more than 50% of the cost. Direct raw materials not more than 50% of the cost. Wage analysis, test certification, standard License fees (if any) or royalty fees (if any) for the transfer of technology. The NIA will support such expenses not more than 50% of the NIA’s estimated cost of the equipment specified in the program that is supported by the budget. In the innovative coupon program support for such expenses does not exceed 50% of the cost.
2. Software Dee Season 3
Opportunity to get government funding for tech startup, ranging from 500,000 to 2,000,000 baht. After the success of Tech Startup support “Good software Smart Solution Season 2” which encourages and promotes Thai software industry to develop software for target industries. This project attract startup more than 222 participants and this project has supported software innovation. 20 projects
This year, NIA joined with Tech Startup alliance in support of grants of up to 500,000 baht for 20 projects and up to 2,000,000 baht for 5 software projects
Condition
- Presenting the project at the event
- The project involves area of Tourism innovation. Hospitality , FinTech , Retail and Ecommerce, Digital Marketing, or Smart SMEs with a support duration of not more than 1 year
3. Success 2018 Project by Business Incubation Center (National Science and Technology Development Agency (NSTDA))
Success 2018 Project is a project that has been upgraded from the incubation project for 16 years. It is a project for executives. All of the software and IT companies involved in ERP, Mobile, Enterprise, Digital Content, IT Consultant, IT Services, E-learning, Game, Web, etc. that require to build strong foundation, need partners to expand business opportunities, learn success stories and shortcuts from the experience of successful people in the business.
Privilege
1. Has the right to become part of the operator network in order to get the opportunity to cooperate with others company.
2. Get the training for business owners only by business owners, and specialize in software / digital business. Leading Thai and International
3. Get the right business consultant services from experienced software / digital consultants to reduce mistakes in business operations and business choices. (Value: 200,000 Baht / Company)
4. Has the right to participate Foreign Market Opening Event (There may be sponsorships. Each company have to go through the selection process.)
5. Opportunity to reach buyers, both public and private, through a variety of channels.
6. Get access to both domestic and international funding through an alliance network of banks, financial institutions. And both domestic and foreign investors.
7. Get Microsoft Bizspark with Azure Cloud for free for 3 years (valued at ฿ 4,000,000).
8. Supported office space At Chaengwattana Software Park and Garden of Innovation, Rangsit Science Park (valued at ฿ 80,000)
9. Opportunity to promote your product through various media.
10. Supported by SAMSUNG.
- Get the technology training from SAMSUNG first.
- Get access to the Samsung Mobile Device Lab.
- Increase sales opportunities. Through the sales team of SAMSUNG
11. get the opportunity for Vertical Market (valued at ฿ 400,000)
12. The right to receive consulting fees for product development is 50% of the project but not exceeding 400,000 Baht.
Participant Qualification
1. It’s an Software entrepreneur, IT and all types of ERP, Mobile, Enterprise, Digital content, IT Consultant, IT Services, E-learning, Game, Web, etc.
2. Have a clear product, ready to go to market.
3. Commit to lay the foundations of business organizations to be strong and growing
4. It aim to be part of the country’s technological development.
5. Special! if you pass the following stage will be considered specially.
5.1 get training ‘New Entrepreneurship Training Program (NEC)’
5.2 was awarded by Startup both at home and abroad.
6. Those participants will be waived for participation fee.
6.1 TICTA Award Winners, APICTA, IT Prince, Samart Innovation Awards
6.2 A company that dedicate for society (Social Enterprise)
6.3 A company with Healthcare solution, Agriculture solution
Participation fee of 5,350 baht (including VAT)
Limited to only 20 companies.
4.Innovative Business Technology Scheme
(Startup Voucher) 2561
Qualifications
1. It is a juristic person incorporated under Thai laws between 1 January 2010 and
February 28, 2017 and Thai people hold share no less than 51%.
2. Nature of Business: A business that uses technology in the production or service process.
3. Products or services that are released to the market, and have the first customer already. It has the potential to grow.
4. Have a plan of activities, accurate cost estimates and plans are consistent. It is possible that the income will not be less than 1 million baht.
5.The availability of staff, their ability to carry out their work and reach company’s goal
Project financing
NTC provides financial support not more than 75% of project value. Up to 800,000.
The project cost is based on the actual cost. NSTDA reserves the right to provide support at the level consistent with the results that the operator promise to deliver.
Period
Valid from 1 May to 31 December.2018
