A Techsauce Series: Thai Government ministries facilitating the growth of the ecosystem | Techsauce

A Techsauce Series: Thai Government ministries facilitating the growth of the ecosystem

Techsauce is taking a closer look at the Thai Government ministries facilitating the growth of the ecosystem. These official platforms, companies, and government initiatives have really helped to propel and stabilize the Thai economy, startup scene and create a stable business environment.

Below we have listed the top government ministries that have contributed to the tech startup ecosystem and collaborate with Techsauce on a regular basis.

The Digital Economy Promotion Agency was established to promote and support the development of digital industry and innovation and the digital technology adoption in order to achieve the economic, social, cultural and security benefits in the national level in accordance with the Digital Development for Economy and Society Act B.E. 2560 (A.D. 2017) promulgated on 23 January 2017, the 2nd year of the reign of King Rama X.

 

Digital Government Development Agency  (DGA) has been established by the Thai  Cabinet since February 22, 2011.   It is operated under the Ministry of Communication and Information Technology (MICT).  The mandate of DGA is to help government agencies for their IT development in order that citizens and businesses can access government information and services easily and equally as well as reducing the cost and length of services.  DGA has positioned itself as an important mechanism for driving the development of Thailand's e-Government.

Electronic transactions play a vital role in Thailand's economic growth. ETDA provides an IT infrastructure which facilitates electronic transactions, helping businesses related to electronic transactions which create secure, safe and reliable IT standards, and communication. ETDA’s main mission is to conduct studies and research while providing support for the Electronic Transactions Commission and related agencies.  Additionally, ETDA provides support to people’s sector organizations which participate in the development, promotion, and support of electronic transactions by establishing necessary infrastructure and advocating for an increase in volume and value of electronic transactions.  It also provides technical services or other practical services related to Thailand’s economic transactions.

The Royal Thai Government approved the establishment of the National Innovation Agency (Public Organization) (NIA) to be under the supervision and management of the Ministry of Science and Technology as well as independent of bureaucratic operations, where the “Innovation Development Fund” was transferred to be the NIA’s initial investment capital. The policy framework was developed exclusively for the supervision and management of a small-sized organization, as part of a strategy to stimulate greater efficiency and convenience for organizational operations.

 

The Market for Alternative Investment (MAI) is a stock exchange of Thailand which was established by the Stock Exchange of Thailand (SET) in 1998 under the Securities Exchange of Thailand Act as an alternative stock market for small and medium-sized enterprises.

The MAI operates independently under the supervision of the SET's board of directors. The MAI committee sets its policies and oversees the market's operation and front office duties such as stock listing and public relations. MAI also has a number of Venture Capitalists that financially stabilise the startup scene in Thailand.

 

Software Park Thailand is an organization under the national science and technology development agency. Our task is to support and strengthen those in the software industry by any means necessary, through marketing, securing investment and developing the latest technology. The Software Park also help stakeholders in Thailand's software industry from manufacturing industry to agriculture as well as the service domestic software industry and instill confidence in this industry for overseas operators wishing to establish themselves in Thailand.

The Software Park Thailand has a clear vision to support entrepreneurs and help create as strong world-class software industry that will enhance the strength and competitiveness of the Thai economy.

When the SEC was established in 1992, there was only the Securities and Exchange Act B.E. 2535 (1992)(SEA) that governed the Thai capital market. Over the past 20 years of development, the SEA along with rules and regulations have been revised to keep pace with the country’s changing economic and social environment as well as international standards. They are empowered by the SEC, the Capital Market Supervisory Board, and the SEC Office to issue regulations in details. Thus, for enforcement, the SEC shall consider all applicable laws and notifications.

 

The Techsauce global summit is Thailand's top Technology conference for startups to meet investors, strengthen their network while connecting the affiliates that create and develop the ecosystem. For more information on how to be part of the Techsauce global summit follow the link https://summit.techsauce.co/

 

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