DEPA is also hosting an international expo from Jan 25 to January 27, which is expected to generate more than 400 investor-startup deals

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State-run Digital Economy Promotion Agency (DEPA) is launching a 100 million baht (approximately US$3 million) fund for the growth of digital startups in Thailand, according to a Bangkok Post report.

With this fund, DEPA aims to take at least 20 active startups to market by next year. In total, the agency is planning to increase the number of active startups to 10,000 by 2027 from 2,000 this year, adds the report. 

The fund, officially approved in July this year, will start operations this month.

According to DEPA President Nuttapon Nimmanphatcharin, the startup fund will be divided into four categories of startup development — 20 million baht of startup vouchers, 20 million of startup fund, 25 million of startup growth fund, and 35 million of digital transformation fund.

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Under the voucher programme, DEPA will fund 400 idea-stage startups with 50,000 baht each to help them develop their ideas into business models. The startup fund, on the other hand, will infuse money into 20 of the 400 startups to further develop their business models into companies.

The 25-million-baht startup growth fund will provide financial support to five startups out of 20 to help them start providing services to market. 

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The 35-million-baht digital transformation fund will channel financial support to spur digitally-driven activities in related industries to promote digital ecosystems in all sectors of the economy.

DEPA is also hosting an international expo, called Asia Digital Expo 2018, from Jan 25 to January 27. The agency expects the event to attract 10,000 participants and  generate more than 400 investor-startup deals.

 

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