February 10, 2016 – Mr. Sompoat Chansomboon, Director of Business Innovation & dtac Accelerate, represented dtac Accelerate, the startup incubation program by Total Access Communication PLC or dtac, to sign Memorandum of Understanding with over 60 parties of government agencies, private financial institutions, and educational institutions to support and develop startup ecosystem for new business with Innovation Driven Entrepreneurship (IDE startups). The program was honored by the attendance of Dr. Somkid Jatusripitak, Deputy Prime Minister of Thailand, to preside over the signing ceremony along with Dr. Suvit Maesincee, Vice Minister of Commerce, and Mr. Supant Mongkolsuthee, Chairman of the Federation of Thai Industries, acting as the Chief Government Sector and the Chief of Private Sector of the working group on the SMEs startups & Social Enterprises, respectively.
Mr. Sompoat Chansomboon, Director of Business Innovation & dtac Accelerate, stated that “Government and private sectors have been working together to build startup ecosystem in Thailand to increase the opportunity, create business model, raise fund, and accelerate growth of Thai startups so we can take our startups to international market. As of now, many Thai startups have to register their companies in other countries, such as Singapore or Malaysia. In regard to this matter, the government sector can step in and help by formulating policy and making law to benefit Thai startups in competition with other countries. For examples, capital gain tax policy should give more advantages for Thai startups when exit or sell their companies, or allow foreign investors to hold more than 49% share, and make ESOP (Employee Stock Option) legal for Thai startup employees is also important. At the present, these limitations become barriers for the registered startups in Thailand to run their business, not like registered startups in Singapore, Malaysia or Vietnam where the regarded government policies are already adjusted.
And today, dtac Accelerate has had a pleasure to collaborate with government sectors to support and boost the potential of Thai startups to expand and grow in Thailand and other countries. We have been arranging dtac Accelerate program for 3 consecutive years, which is well accepted by startups due to the strong points in world-class startup curriculum for Silicon Valley, including part of seed fund and strategic alliance support to reach over 200 million customers of dtac and Telenor in 13 countries worldwide. We also promote Thai startup community by establishing HANGAR Co-Working Space, the No. 1 Community of Innovation. It is the place for Thai startups to meet, to work, and to organize events, conferences, and continuous activities of program developers. This year, dtac Accelerate will start accepting applications for startups to join the program for the 4th year, or Batch 4, in this coming March.”
