Ministry to turn Bangkok into start-up hub
The Ministry of Science and Technology has plans to turn Bangkok into a hub for start-ups.
Science and Technology Minister Suvit Maesincee yesterday said the ministry is working with public and private agencies to attract science and innovation start-ups to the city.
Last year, Bangkok was ranked the most suitable place in Asia for start-ups to set up shop and seventh overall in the world, according to a survey called the StartUp City Index, by freelance marketplace PeoplePerHour.
The ministry has selected several areas in Bangkok. They are Yothi, Pathumwan, Klong San, Rattanokosin, Kluai Nam Thai, Lat Krabang, Punnawithi and Bang Sue.
In the next phase, the scheme will be expanded to nearby eastern seaboard provinces including Bang Saen, Sri Racha, Pattaya, U-tapao and Ban Chang to complement the government’s Eastern Economic Corridor scheme.
Currently, there are around 8,000 start-up investors in Thailand, according to the ministry’s data.
Mr Suvit said the ministry will initially target 5,000 whose investments are relate to science and technology.
In the early stages, three existing facilities will serve as “incubators” for investors and assisting agencies to help entrepreneurs turn their ideas into profitable businesses.
The three are Knowledge Exchange at King Mongkut’s University of Technology Thonburi in Thung Khru district; True Incube at Siam Square in Pathumwan; and Wecosystem in the same district.