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Thailand Startup Ecosystem Q1 2016

This is the second version of the Thailand Startup Ecosystem Report, by Bangkok Entrepreneurs. This report has for ambition to provide a comprehensive overview of the current startup ecosystem in Bangkok and in Thailand. It will tentatively be published every quarter or so. We welcome your comments and questions.

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Thailand Startup Ecosystem Q1 2016

  1. ThailandStartupEcosystem–Q12016 ©Little Photographer V 1.2 – Feb 2016 Thailand Startup Ecosystem Q1 2016 By Bart, Bangkok Entrepreneurs
  2. ThailandStartupEcosystem–Q12016 Announcing ‘Thailand Startup Summit 2016’ February 2016 2 A Showcase of Thailand’s Best Startups! Wednesday 30 March 2016 at Rembrandt Hotel Bangkok Interested in Startups? Buy your ticket now! http://thailandstartupsummit2016.eventbrite.com
  3. ThailandStartupEcosystem–Q12016 Note: This report will tentatively be updated and published every quarter. If you think that you should be in it, please get in touch. Disclaimer February 2016 3 This is an informal, non comprehensive document that is meant for information only. Opinions expressed here are solely my own. Use at your own risk. Bart Bangkok Entrepreneurs Co Ltd
  4. ThailandStartupEcosystem–Q12016 Summary February 2016 4 Note: Click on company logos to access their website. About Us.………………………………………………………………….05 Introduction………………………………………………………………06 Thailand in Numbers…..…………………………………………….07 Startup Ecosystem…………………………………………….………10 Mergers & Acquisitions …………………………………………….12 Series C …………………………………………………………………….16 Series B …………………………………………………………………….18 Series A …………………………………………………………………….21 Seed Funding……………………………………………………….......27 More Thai Startups……………………………………………………33 Foreign Startups………………………………………………………..36 Finance & Funding..……………………………………………….....39 Resources and Organizations..……………………………………44
  5. ThailandStartupEcosystem–Q12016 About ‘Bangkok Entrepreneurs’ February 2016 5 Bangkok Entrepreneurs Co Ltd is an Event Management Startup based in Bangkok. Our mission is to help SMEs and Startups doing business, to connect fellow professionals and to facilitate business partnerships. We organize several events and conferences in Bangkok, including Bangkok Entrepreneurs (Bangkok’s largest business networking group), WebMob (a monthly networking event for the tech community) and the new Thailand Startup Summit 2016 (an all-day Tech & Startup conference). We partner with business and tech related third-party events in Thailand and SEA (Echelon, IOT Show, Crowdfunding Asia, Rice Bowl Startup Awards, etc). We also help other event organizers by providing venues, speakers and other related services. Monthly Business Event for the Tech Community http://www.meetup.com/WebMobThailand Monthly Business Networking Event for All http://www.meetup.com/Bangkok-Entrepreneurs
  6. ThailandStartupEcosystem–Q12016 Introduction February 2016 6 Only 3.5 months have passed since the last report and so much has happened in the Thai Tech Startup industry! Seed Funds, Series A, Series B, new startups… we have had it all. Out of the 8 startups that we recommended to watch 3 months ago, 6 have raised money since! They are Washbox 24, WishBeer, Eatigo, FlowAccount, Playlab and JobNisit.com. Find all the details in the following pages. As we mentioned in our first edition (in October 2015), our ambition with this report is to provide a comprehensive overview of the current startup ecosystem in Bangkok and in Thailand. We don’t pretend to be exhaustive and objective, but we do try to be accurate and fair. This report will be updated every quarter or so. If you have a comment, a question, an addition, a correction or anything else to report, don’t hesitate to get in touch. Thank you for reading. Bart
  7. ThailandStartupEcosystem–Q12016 Thailand, a leading market in Southeast Asia • 2nd Largest Economy (after Indonesia), • Strategic Location, • 2nd Tourism Destination 24.7M Tourist Arrivals in 2014 (after Malaysia with 27.4M), • Best Cost of Life / Development Ratio. February 2016 7 Source: http://data.worldbank.org/country/thailand - https://en.wikipedia.org/wiki/World_Tourism_rankings -
  8. ThailandStartupEcosystem–Q12016 Thailand, a regional hub • 6 International Airports, • Direct flights from Bangkok to all countries in Asia and most countries in Europe and North America, • Low-cost flights (NokScoot, Air Asia, Tiger Airways, etc.) and cheap ground transportation (Airport Rail Link, Taxi, etc.). February 2016 8 1hr 2hrs 3hrs 4hrs 5hrs 6hrs 7hrs Flight Time: NokScoot is a new Joint Venture of Thailand’s Nok Air and Singapore based Scoot.
  9. ThailandStartupEcosystem–Q12016 Thailand Rank in SEA • Population: 64 Million 4th after Indonesia, Philippines and Vietnam. • GDP (Nominal): 373.8 Billion 2nd after Indonesia. • Mobile Connections: 97 Million 4th after Indonesia, Vietnam and Philippines. • Mobile Penetration: 150% 2nd after Singapore. • Internet Users: 24 Million 4th after Indonesia, Philippines and Vietnam. • Internet Penetration: 37% 5th after Singapore, Malaysia Philippines and Vietnam. • Social Media Users: 32 Million 3rd after Indonesia and Philippines February 2016 9 Source: http://data.worldbank.org/country/thailand - http://www.slideshare.net/wearesocialsg/digital-social-mobile-in-2015 Thailand at a glance in Southeast Asia Southeast Asia: 11 Countries and >620 Million people
  10. ThailandStartupEcosystem–Q12016 Startup Ecosystem February 2016 10 Thai and Foreign Startups
  11. ThailandStartupEcosystem–Q12016 The Global Startup Ecosystem Ranking 2015: Bangkok is not there (yet)… But we do have some success stories! February 2016 11 Source: Compass
  12. ThailandStartupEcosystem–Q12016 Thailand Startups: Mergers & Acquisitions February 2016 12
  13. ThailandStartupEcosystem–Q12016 Thai Startup Acquired by Foreign Companies (1/2) February 2016 13 Agoda: Online Hotel Booking. • 1997: Founded by Michael Kenny and Robert Rosenstein, • 2007: Acquired by Priceline.com (USA). https://www.agoda.com/info/priceline.html Sanook.com: Web Portal. • 1998: Founded by Poramate Minsiri, • 2010: Co-owned by Tencent (49.92% for US$ 10.5 million) (China) and MIH Naspers (RSA). http://www.businessinsider.com/tencent-invests-sanook-2010-8 • 1999: Founded by Pawoot Pongvitayapanu, • 2009: Acquired by Rakuten (67%) (Japan). http://corp.rakuten.co.jp/ir/releases/pdf/2009/2009_09_30_02.pdf Tarad.com: E-Commerce. • 2010: Founded by Paul, Tom, and John Srivorakul, • 2011: Acquired by Living Social (USA). http://www.prnewswire.com/news-releases/livingsocial-acquires-three-international-deal-sites- launches-in-the-netherlands-124589548.html Ensogo: Daily Deal Site. (In No Particular Order)
  14. ThailandStartupEcosystem–Q12016 • 2007: Founded, • 2011: Acquired by Property Guru (Singapore) for THB 80 Million (US$ 2.2M). http://www.propertyguru.com.sg/property-management-news/2011/7/30846/propertyguru- acquires-thailand-s-ddproperty DD Property.com: Real Estate Portal. ThinkOfLiving: Real Estate Portal. • 2011: Founded by Beam Toranavikrai and 3 others, • 2015: Acquired by iProperty Group (Malaysia) for US $4.43 million in cash and 675,570 new ordinary shares in the iProperty Group. http://www.iproperty-group.com/news-room/press-releases/australia/thinkofliving-com- acquisition-complete-iproperty-group-now-owner-and-operator-of-thailands-number-one-real- estate-portal Thai Startup Acquired by Foreign Companies (2/2) February 2016 14 (In No Particular Order) Paysbuy: Online Payment Provider. • 2004: Founded by Aung Kyaw Moe and Somwang Luangphaibooonsri, • 2008: Acquired by Dtac (Thailand). https://www.techinasia.com/online-payment-provider-paysbuy-celebrates-10year-anniversary- plans-launch-4-services/The only one acquired by a local company!
  15. ThailandStartupEcosystem–Q12016 Jan 2016: Moxy, the women-focused ecommerce site with roots in Thailand announces its fusion with Indonesian mom and baby products site Bilna. Mergers February 2016 15 (In No Particular Order)
  16. ThailandStartupEcosystem–Q12016 Thailand ‘Series C’ Startups February 2016 16
  17. ThailandStartupEcosystem–Q12016 Thai Startups: ‘Series C’ Funding February 2016 17 • 2003: Founded by Aung Kyaw Moe, • 2011: Series A: US$ 1 Million, • 2014: Series B: US$ 2 Million, • 2015: Series C: US$ 7 Million from Amun Capital and GMO Venture Partners. 2C2P: Payment Service Provider. (In No Particular Order) Current Funding: US$ 10 Million
  18. ThailandStartupEcosystem–Q12016 Thailand ‘Series B’ Startups February 2016 18
  19. ThailandStartupEcosystem–Q12016 Thai Startups: ‘Series B’ Funding February 2016 19 • 2011: Founded by Moo Natavudh and 2 others, • 2012: Series A: US$ 2 Million (Invent), • 2014: Series B: US$ 7 Million (Transcosmos) for 10% shares, • 2015: Launched Ookbee Mall, as a Joint Venture with Transcosmos and US$ 5 Million. Ookbee.com: Digital Publication Platform (In No Particular Order) Current Funding: US$ 9 Million • 2011: Founded by Julien Chalte and Martin Toft Sorensen • 2014: Series A: US$ 1.5 Million from Digital Media Partners (DMP) • Sept 2015: Series B: Undisclosed Amount from Japanese e- commerce firm Start Today Co. Ltd. • LAST MINUTE Feb 2016: Final Series B round from Sebrina Holdings. WearYouWant.com: E-Commerce Current Funding: Unknown
  20. ThailandStartupEcosystem–Q12016 Thai Startups: ‘Series B’ Funding February 2016 20 (In No Particular Order) Playlab: Video game studio • 2012: Founded by Jakob Lykkegaard Pedersen and Thomas Andreasen, • Oct 2015: Series B: US$ 5 Million from Monk’s Hill Ventures.Current Funding: US$ 5 Million
  21. ThailandStartupEcosystem–Q12016 Thailand ‘Series A’ Startups February 2016 21
  22. ThailandStartupEcosystem–Q12016 • 2010: Founded by Yod Chinsupakul and Pattrawoot Suesatayasilp, • 2013: Series A: US$ 500,000 from Japan’s Recruit Strategic Partners (RSP), • 2014: Raised another undisclosed amount from Japan’s Recruit Strategic Partners (RSP). Wongnai.com: Restaurant Review. Current Funding: Unknown Thai Startups: ‘Series A’ Funding (1/3) February 2016 22 (In No Particular Order) • 2012: Founded by Robert Zepeda, • 2014: Seed: US$ 770,000 from 500 Startups, Ardent Capital, Axis Capital, • 2015: Series A: US$ 1.85 Million from InVent and Cherubic Ventures. Playbasis: Social Engagement & Gamification. Current Funding: US$ 2.6 Million • 2012: Founded by Korawad Chearavanont and David Zhang, • 2014: Seed: US$ 1 Million from 500 Startups, TigerLabs and WaveMaker Partners, • 2015: Series A: US$ 5.7 Million from Gobi Partners. EkoApp: Enterprise communications platform. Current Funding: US$ 6.7 Million
  23. ThailandStartupEcosystem–Q12016 • 2013: Founded by Paul and Tom Srivorakul and 2 others, • 2013: Venture: US$ 3.1 Million from CyberAgent Ventures and NTT DOCOMO Ventures, • 2014: Series A: US$ 10.7 Million from Inspire Ventures, Ardent Capital and more, • 2015: Venture: US$ 5 Million from Inspire Ventures, Ardent Capital and more. aCommerce.asia: e-commerce solutions. Current Funding: US$ 18.8 Million Thai Startups: ‘Series A’ Funding (2/3) February 2016 23 Sinoze.com: Game Studio. • 2012: Founded, • Mar 2015: Series A: US$ 750,000 from InVent.Current Funding: US$ 750,000 Computerlogy.com: Software Development and Social Media Integration. • 2009: Founded by Kamolsit Mongkolsrisawat, Jakkris Kietpermsak and Vachara Aemavat, • 2013: Series A: US$ 932,000 from InVent. • Aug 2015 Acquired by Yello Mobile! Current Funding: US$ 932,000 (In No Particular Order)
  24. ThailandStartupEcosystem–Q12016 • 2013: Founded by Jun Hasegawa and Ezra Don Harinsut, • 2014: Seed: US$ 300,000 from East Ventures, • May 2015: Series A: US$ 2.6 Million from SMDV, 500 Startups and others. • Oct 2015: “Expansion” round: Undisclosed amount from Golden Gate Ventures used to expand to SEA. Omise: Payment Gateway. Thai Startups: ‘Series A’ Funding (3/3) February 2016 24 Current Funding: Over US$ 2.9 Million (In No Particular Order) Pomelo Fashion: Online Fashion Retail. • 2014: Founded by David Jou and Casey Liang • 2014: Pre-Series A: US$ 1.6 Million from Jungle Ventures, 500 Startups and others, • July 2015: Series A: Undisclosed amount from Jungle Venture, Hong Leong Financial Group, Toivo Annus, 500 Startups and others. Current Funding: Over US$ 1.6 Million Priceza.com: Shopping Search Engine and Price Comparison Shopping Site. • 2010: Founded by Thanawat Malabuppha, • 2013: Series A: Undisclosed amount from CyberAgent Ventures. Expansion to Indonesia, • 2015: Expansion to Singapore, Malaysia, Philippines and Vietnam. Current Funding: Unknown
  25. ThailandStartupEcosystem–Q12016 Thai Startups: ‘Series A’ Funding (3/3) February 2016 25 (In No Particular Order) ClaimDi.com (Anywhere to Go): Mobile App for Car Drivers. • 2000: Founded by Kittinan Anuphan, • 2014: New version of ClaimDi.com for consumers, • 2014: Seed: Undisclosed amount from 500 Startups, Golden Gate Ventures and others, • Nov 2015: Series A: US$ 2M from Cyber Agent Venture, 500 Durian, 500 Startup, GoldenGate Venture, Dtac, DoubleA, and 2 Thai private investors. Current Funding: Unknown Hubba: Co-working space and Tech community. • 2012: Founded by Amarit and Charle Charoenphan, • Oct 2015: Pre-Series A: US$ 350,000 from 500 Durians, 500 Tuk Tuks, Golden Gate Ventures, Ardent Capital and several local Angel investors. Current Funding: US$ 350,000 Stamp: Creator of a multi-factor authentication device. • Nov 2015: Series A: Undisclosed amount from Altpoint Ventures and Golden Gate Ventures.Current Funding: Unknown
  26. ThailandStartupEcosystem–Q12016 Thai Startups: ‘Series A’ Funding (3/3) February 2016 26 (In No Particular Order) StylHunt: Search for Online Shops You Can Trust. • Apr 2014: Founded by Surawat Promyotin, Phiraphon Penmas, Pitchapol Penmas, Methee Treewichian and Kongkiat Supagitjongjaroen, • Jan 2016: Pre-Series A: US$ 500,000 from Cyber Agent Venture, 500 TukTuks, Expara Ventures, Singapore Angel Network, and Thai TV personality, author, and entrepreneur Paul Pattarapon Sinlapajan. Current Funding: Unknown Eatigo: Restaurant Booking Website and Mobile App. • Jul 2013: Founded by Judy Tan, Pumin Yuvacharuskul, Siddhanta Kothari, Michael Cluzel. • Dec 2015: Series A: ‘Several’ millions of dollars from undisclosed investors.Current Funding: Unknown Hotel Quickly: Last Minute Hotel Booking Mobile App. • Mar 2013: Founded by Christian Mischler, Thomas Labouka, Mario Peng, Raphael Cohen and Michal Juhas. • Aug 2013: Seeds: US$ 1.15 Million from various inverstors. • Jul 2014: Series A: US$ 4.5 Million from GREE ventures and private investor William E. Heinecke. Current Funding: US$ 5.65 Million
  27. ThailandStartupEcosystem–Q12016 Thailand ‘Seed Funding’ Startups February 2016 27
  28. ThailandStartupEcosystem–Q12016 Thai Startups: ‘Seed’ Funding (1/5) February 2016 28 • 2009: Founded by Patai Padungtin, Pongsawat Krishnamra and Teeraboon Ariyasuthiwong, • 2013: Seed: Raised an undisclosed amount. Builk: FREE SaaS (Software as a Service) for Construction Industry. Current Funding: Unknown (In No Particular Order) Hipflat: Real Estate Portal. • 2012: Founded by Grant Babinyan and Denis Nemtsev, • 2013: Seed: US$ 335,000 from Crystal Horse Investments, 8capita and others, • 2014-2015: Additional funding not officially announced yet. Current Funding: US$ 900,000 Page365 by Softbaked Company Limited: Social Media e- Commerce Platform. • 2012: Founded by Trumph Lusarun Silpsrikul and Prathan Thananart, • 2014: Seed: US$ 529,000 (in 2 rounds) from Galaxy Ventures and Inspire Ventures. • 2015: Expansion to Vietnam. Current Funding: US$ 529,000
  29. ThailandStartupEcosystem–Q12016 Thai Startups: ‘Seed’ Funding (2/5) February 2016 29 • 2013: Founded by Nikki Assavathorn and Tanapon Petapanpiboon, • 2014: Seed: US$ 500,000 from InVent. Infinity Levels: Game Studio. (In No Particular Order) Current Funding: US$ 500,000 TaamKru: Education Software. • ?: Founded by Keerati Inochanon and Wicharn Manawanitjarern, • 2014: Seed: US$ 620,000 from 500 Startups and others.Current Funding: US$ 620,000 Piggipo.com: One App for All Credit Cards. • 2013: Founded by Sirathorn Thamprateep, Pongchai Tangbowonweerakun and Supichaya Gak Surapunthu, • 2014: Seed: US$ 70,000 from Dtac and Ookbee. Current Funding: US$ 70,000
  30. ThailandStartupEcosystem–Q12016 Thai Startups: ‘Seed’ Funding (3/5) February 2016 30 • 2013: Founded by Phuvadol Thongthavorn, • 2015: Seed: US$ 300,000 from East Ventures, DENA and 500 Startups (500 Tuk Tuks + 500 Durians). Blisby: Online Market Place for Handmade Crafts. (In No Particular Order) Current Funding: US$ 300,000 ShopSpot: Mobile Shopping App. • 2012: Founded by Natsakon Kiatsuranon and Chawanop Witthayaphirak, • Feb 2013: Seed: US$ 628,000 from Singtel Innov8, Jungle Ventures, NRF and Kris Nalamlieng. • Jan 2016: Undisclosed amount from Invent Intouch (AIS). Current Funding: Over US$ 628,000 Golfdigg: Mobile app offering last-minute golf deals in Thailand. • Jan 2013: Founded by Wichartbhol Surapolbhichet, Thera Siricharoen. • Oct 2015: Seed: THB 23.83 Millions (US$ 673,700) from Invent Intouch (AIS).Current Funding: US$ 673,700
  31. ThailandStartupEcosystem–Q12016 Thai Startups: ‘Seed’ Funding (4/5) February 2016 31 • 2013: Founded by Phuvadol Thongthavorn, • 2015: Seed: US$ 300,000 from East Ventures, DENA and 500 Startups (500 Tuk Tuks + 500 Durians). Blisby: Online Market Place for Handmade Crafts. (In No Particular Order) Current Funding: US$ 300,000 Zilingo: Mobile Marketplace. • Apr 2015: Founded by Ankiti Bose and Dhruv Kapoor, • Nov 2015: Seed: US$ 1.88 Million from Sequoia India, Teru Sato of Beenext, and Freecharge’s Kunal Shah and Sandeep Tandon. Current Funding: US$ 1.88 Million StockRadars: Stock Analysis App. • Aug 2013: Founded. • Jan 2015: Seed: Undisclosed amount from CyberAgent Ventures and East Ventures. Current Funding: Unknown NoonSwoon: Online Dating app. • 2013: Founded by Kavin Asavanant, Theeranit Pongtongmuang and Peter Panas. • Sep 2013: Seed: US$ 400,000 from Golden Gate Ventures and private investors. Current Funding: US$ 400,000
  32. ThailandStartupEcosystem–Q12016 Thai Startups: ‘Seed’ Funding (5/5) February 2016 32 (In No Particular Order) Nov 2015: These 5 Startups received a seed investment by 500 TukTuks (the Thai branch of 500 Startups), but the amount has still to be confirmed: - Washbox 24 (Dry Cleaning Service), - TakeMeTour (Connecting Tourists with Locals), - Wishbeer (Online Craft Beer Store), - Skootar (Scooter Messenger and Delivery Service), - FlowAccount (Online Accounting System for SMEs). 500 TukTuks Round:
  33. ThailandStartupEcosystem–Q12016 More Thai Startups February 2016 33
  34. ThailandStartupEcosystem–Q12016 Some Thai Startups to Watch in Q2 2016 Passion Delivery: “Artisan Food” Delivery Service. They already got traction and are on their way to seed funding. (In No Particular Order) Prime Time: Video on Demand. 70% owned by DNA 2002, a leading home entertainment distributor. Netflix launch in Thailand will have consequences for Prime Time, one way or the other. Job Nisit: Job Board for Fresh Graduates. They offer a unique feature (they match the profiles and the jobs) and have developed a strong relationship with many universities. February 2016 34 Kiidu: The nanny on demand service just launched in Thailand and Indonesia and is already attracting investor’s interest.
  35. ThailandStartupEcosystem–Q12016 More Thai Startups (In No Particular Order) February 2016 35 And many more out there! Contact us if you think you should be mentioned here!
  36. ThailandStartupEcosystem–Q12016 Foreign Startups in Thailand February 2016 36
  37. ThailandStartupEcosystem–Q12016 Foreign Startups Doing Well in Thailand They quickly outsmarted Easy Taxi and Uber to become the number one Taxi App in Thailand. They bought their main competitor and are rapidly expanding in the country’s major cities. They initiated the e-commerce momentum in Thailand with aggressive pricing, sales and advertising strategies. They benefited from their recent acquisition by LVMH / Sephora. (In No Particular Order) February 2016 37 The subsidiary of the Big C Supermarket Group is taking advantage of the booming E-commerce market. Now Sephora Digital Iflix was doing well until Netflix recently announced a global launch…
  38. ThailandStartupEcosystem–Q12016 Happy Fresh: Online Grocery Shopping, coming from Malaysia, with a lot of cash (US$ 12M Series A). Chope: Restaurant Booking Website, coming from Singapore with also a lot of cash (US$ 11.39M in 3 rounds) and a partnership with BK Magazine. Foreign Startups Launching in Thailand (In No Particular Order) February 2016 38 Lalamove: The delivery and moving services app launched a while ago but is still looking for a place in a very crowded market (Skootar, Deliveree, Sendit and now Grab).
  39. ThailandStartupEcosystem–Q12016 February 2016 39 Finance & Funding Crowdfunding, Investors, VCs, Business Angels, etc.
  40. ThailandStartupEcosystem–Q12016 Dreamaker and Dreamaker Equity Dreamaker is a Thailand-based crowdfunding platform that allows individuals or startup companies to raise fund for their project and give back products or services in return. Crowdfunding in Thailand (In No Particular Order) Launched in 2015 A local platform with regional ambitions, launched by the ‘Crowdfunding Asia’ team (Singapore). SinWattana Launched in 2015 February 2016 40 2 local Crowdfunding Platforms have recently launched: Dreamaker Equity is the first equity crowdfunding in Thailand that helps startup companies to raise fund from general investors and give back equity of the company in return
  41. ThailandStartupEcosystem–Q12016 Five VC (Venture Capital) Firms based in Thailand (In No Particular Order) - Founded in 2011 (Srivorakul brothers + others), - Geography: Thailand and SEA - Investment Size: US$2,500,000 to US$12,000,000 - Investments in Thailand: Hubba, aCommerce, Moxy, Whatsnew. - Founded in 2013 by Tom Kim and Tony Williams, - Geography: Thailand and SEA - Investment Size: US$200,000 to US$2,500,000 - Investments in Thailand: aCommerce, Page365. - Founded in 2012 by Adrian Stewart, - Geography: Thailand and SEA, - Investment Size: From US$ 10,000 to US$ 500,000 - Investments in Thailand: Page365, Sokochan, Ezcommerce, Arcade Plus. - Bangkok Team Established in 2015 by Krating Poonpol and Moo Natavudh. - Geography: Thailand, - Investment Size: US$10M USD micro-fund, - Investments in Thailand: Omise, Hubba and Blisby. - Founded in 2012 (Same group as AIS Telco), - Geography: Thailand and SEA, - Investment Size: From US$ 150,000, - Investments in Thailand: Ookbee. 500 Startups February 2016 41
  42. ThailandStartupEcosystem–Q12016 (In No Particular Order) - Founded in 2010 by Dmitry Levit, - Geography: Singapore and SEA, - Investment Size: N/A, - Investments in Thailand: WearYouWant. - Founded in 2010, - Geography: SEA, Japan and USA, - Investment Size: US$300,000 to US$4M, - Investments in Thailand: Omise. - Founded in 2011, - Geography: Singapore and SEA, - Investment Size: US$500,000 to US$1M, - Investments in Thailand: Taamkru. - Founded in 2010, - Geography: Singapore and SEA, - Investment Size: US$300,000 to US$7.5M, - Investments in Thailand: Shopspot (SG based Startup). Six Foreign VC Firms Investing in Thailand - Founded in 2011, - Geography: Singapore and SEA, - Investment Size: US$1.5M to US$6M, - Investments in Thailand: Noonswoon, Hubba. - Founded in 2006, - Geography: Japan, China, Taiwan, South Korea, SEA and USA, - Investment Size: US$2.5M, - Investments in Thailand: aCommerce, Stock Radars, PriceZa. February 2016 42
  43. ThailandStartupEcosystem–Q12016 True Incube is managed by True Corporation and is partnering with 500 Startups. Every startup accepted into their Incubator program receives an investment of THB 500,000 in return for certain percentage but not less than 5% of equity Five Thailand-based Incubators and Accelerators i4-x is the first venture-backed business accelerator based in Thailand. The accelerator is backed by Expara IDM Venture Pte Ltd, a Singapore-based multi-stage venture capital firm and a number of local investment groups. TechGrind Thailand Incubator is the 1st private Technology Incubator in Southeast Asia. dtac Accelerate Batch 3 is a 4-month bootcamp that will help startups accelerate their success with world-class curricula, intensive mentoring, investment opportunity and business support from Telenor Group. The bootcamp will be running during the second half of 2015. dtac Accelerate offers support funds from THB 500,000 - 1,500,000. Consumer-centric services and enterprise solutions that leverage on mobile network services e.g. Mobile Data, Carrier Billing, Location, SMS, etc. AIS The Startup offers a THB 1 Million Reward! February 2016 43 (In No Particular Order)
  44. ThailandStartupEcosystem–Q12016 February 2016 44 Resources Media, Organizations, Events, Coworking Spaces, etc.
  45. ThailandStartupEcosystem–Q12016 Local Tech Media Tech Blog Techsauce is an association between the ‘Thumbsup’ and ‘Hubba’ teams. Most articles are in Thai. Some are in English or Japanese. Tech Blog All articles are in Thai. These foreign media are also covering Thailand’s Tech industry news: Tech Blog Most articles are in Thai. Some in English. February 2016 45 (In No Particular Order)
  46. ThailandStartupEcosystem–Q12016 Sukhumvit Area: Sukhumvit Line Bangkok Coworking Spaces Nana Asok Phrom Phong Thong Lo Ekamai Silom/Sathorn Area: Silom Line Siam Ratchadamri Silom SurasakChong Nonsi February 2016 46 (By location) Most Coworking Spaces are located in one of the two main business areas of Bangkok, near a subway or sky train station:
  47. ThailandStartupEcosystem–Q12016 February 2016 47 Organizations and Associations C-Asean: C-Asean is a business community, an event organizer, a venue for third-party events, and more. Thailand Tech Startup Association: Association of Thai Tech Startup led by Patai Padungtin (Builk) Hubba Thailand: A community of startups built around the coworking space. They organize events and training for startups. (In No Particular Order) Bangkok Entrepreneurs: Organizes several networking events and Tech conferences, including Bangkok Entrepreneurs (Bangkok’s largest business networking group), WebMob (a monthly networking event for the tech community) and Thailand Startup Summit 2016 (an all-day Tech & Startup conference).
  48. ThailandStartupEcosystem–Q12016 February 2016 48 Education (Startup-focused programs) Sasin Graduate Institute of Business Administration: MBA, Executive MBA, Entrepreneurship Course, Startup Events, etc. ICE (Institut for Creative Economy) by Bangkok University: Organizes Seminars and Workshops and provides Resources for Startups. Disrupt University: Proposes a program based on actual classes taught at Stanford University (USA) and hands on workshops with Startup advisors. (In No Particular Order)
  49. ThailandStartupEcosystem–Q12016 February 2016 49 Governmental Organizations and Initiatives (1/2) Thailand Board of Investment: Supports business and investments in Thailand and grants special incentives to companies that meet their requested criteria. Thailand Science Park: “The most attractive location in Thailand to invest in your research, development and innovation activities”. The National Science and Technology Development Agency (NSTDA) locates its headquarter and its 3,000 employees in Thailand Science Park. (In No Particular Order) Software Park: Software Park Thailand offers office facilities for software companies as a part of our effort to create a software cluster and thereby allow for the exchange of experience, ideas and for forging new business alliances and technology transfer. Smart Thailand, by the Information and Communications Technology Ministry (ICT): Smart Thailand is part of the national ICT framework called 'ICT2020', a development blueprint for the country that will lead and guide all parts of the economy, especially the government sector, to move forward with ICT development. Read more here.
  50. ThailandStartupEcosystem–Q12016 February 2016 50 Governmental Organizations and Initiatives (2/2) EGA: “The Electronic Government Agency (Public Organization) takes the roles to develop and integrate information and communication technology systems to achieve establishing e-Government which is the country's key strategy to effectively leverage government’s capabilities of management and public service systems.” (In No Particular Order) SIPA: Software Industry Promotion Industry. Note: They do not provide any information in English on their website. ETDA: Electronic Transactions Development Agency. Note: They do not provide any information in English on their website. NIA: “The National Innovation Agency undertakes a broad-based and systematic approach in facilitating innovation development in Thailand, both in terms of making improvements and pioneering new initiatives. More precisely, NIA focuses on fostering strategic innovation and sectoral-industry innovation, which enhances national productivity, encourages economic restructuring and social development as well as promoting national competitiveness. NIA also focuses on coordinating industrial clusters both at the policy and operational levels, promoting innovation culture and building up innovation systems, with a broader aim to transform Thailand into an innovation-driven economy.”
  51. ThailandStartupEcosystem–Q12016 Meet the Tech Community at ‘Thailand Startup Summit 2016’ February 2016 51 Wednesday 30 March 2016 at Rembrandt Hotel Bangkok http://thailandstartupsummit2016.eventbrite.com
  52. ThailandStartupEcosystem–Q12016 Thank you. To be continued… Stay tuned! February 2016 52

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    Jul. 26, 2018
  • berthaaliciaCrdenasm

    Feb. 17, 2019
  • MickeyBerlianshik

    Mar. 7, 2019
  • RiverPlacid

    Jul. 27, 2019
  • SahidaAkter

    Sep. 10, 2019
  • Keyonduke

    Sep. 27, 2019
  • return001

    Aug. 20, 2020
  • PaxyPdaSupaG

    Jan. 23, 2021
  • JudithSalinas6

    Jul. 29, 2021

This is the second version of the Thailand Startup Ecosystem Report, by Bangkok Entrepreneurs. This report has for ambition to provide a comprehensive overview of the current startup ecosystem in Bangkok and in Thailand. It will tentatively be published every quarter or so. We welcome your comments and questions.


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