Over the last five years or so there has been a huge rise in the number of funded startups in Thailand. Going back to 2012, there were only a paltry three which were funded, fast forward to 2017 and that number had risen to over 90, with over $280 million raised in funds. This number is expected to continue to grow at a rapid rate, but it will be sometime before it reaches levels similar to the ones seen in Singapore.
However, something big is coming to Thailand and it’s called Thailand 4.0. This economic model and roadmap have been specifically designed in order to unlock the potential of the nation, turning it into a digital hub on a global scale. Thailand wants to be known for digital innovation and incorporated into Thailand 4.0 is the launch of the True Digital Park which is set to launch in the fourth quarter of 2018.
The park will potentially be the biggest of its kind in the whole of Southeast Asia and aims to be the one stop shop for any government support for start-ups and corporate tenants. There are expected to be project areas the size of 10 football pitches, with 1,000 workstations as well as in excess of 3,000 square meters for all sorts of labs; which are guaranteed to accommodate everyone’s needs and requirements.
Startups are naturally excited ahead of the park’s launch for a number of reasons, one being that there will be a huge increase in the government support available. The park will also provide a great open learning environment which will be available to everyone. So, no matter who you are in the tech and start-up field, regardless of how big you are, how long you have been active or who you are affiliated with, you can still benefit from everything provided at True Digital Park.
The park will also be the ideal place for people to not only have better access to supportive facilities, but there will also be a chance to learn about new technologies too. It will also be a great way for like-minded individuals/businesses to connect and communicate, giving them the chance to exchange ideas and offer each other support too. As a global hub for digital innovation, True Digital Park will see people from all over the world coming together to use the facilities on offer, giving it a real multicultural edge too.
It may even lead to Thailand’s brightest and most innovative minds learning how to survive as well be successful in highly competitive spaces like online gaming and using principles seen there to incorporate into their own business plans. SBObet is one established gaming brand that is a perfect example of a prosperous business which we can all learn from.
The digital park really does have the ability to accelerate the startup dreams of many people, especially with more money being raised in funds. Thailand is taking steps in the right direction but there is still a long way to go if they are to rival the likes of Singapore. The aim is that the True Digital Park will help to accelerate Thailand into becoming a key hub for startups in Southeast Asia. As things stand, over 80% of the True Digital Park has been booked, proving it to be in high demand as expected.