Thai Government Unveils DEPA Digital Startup Fund to Propel Global Expansion

The Digital Economy Promotion Agency (DEPA) in Thailand is spearheading an initiative to boost the global expansion of Thai digital startups. With the announcement, the government aims to provide financial backing for emerging startups, facilitating their international growth and fostering innovation in key sectors.

On Saturday, government spokesman Chai Wacharonke revealed that the DEPA Digital Startup Fund would allocate up to 1 million baht to 15 early-stage projects in vital sectors such as state services, healthcare, tourism, agriculture, education, services, finance, and smart cities. 

Operated as an “angel fund,” the “D-startup” project, as explained by Chai Wacharonke, welcomes applications from individuals or companies registered for no more than three years. This approach signals a concerted effort by Thailand‘s DEPA to empower and support nascent digital enterprises, laying the groundwork for their success and contribution to the country’s digital economy.

The “D-startup” project, functioning as an “angel fund,” is actively accepting applications from individuals or companies with no more than three years of registration. The initiative, building on the success of past support for 160 Thai digital startups, has generated over 15 billion baht in revenue. With this, it aims to propel additional digital enterprises towards developing market-ready products and services. 

Emphasizing the critical role of technology and innovation in enhancing Thailand’s competitiveness, Prime Minister Srettha Thavisin highlighted the importance of supporting startups in the country. 

Prospective applicants can conveniently submit their proposals online at member.depa.or.th or via email at [email protected]. The application window is open until June 30, allowing interested individuals or companies to tap into the DEPA Digital Startup Fund. 

Drawing on DEPA’s track record of successful endeavors, having previously assisted around 160 Thai digital startups, the agency aims to further augment the development of digital products and services by launching the ‘D-startup’ project.

Prime Minister Srettha Thavisin, recognizing the vital role of startups and the significance of Thailand’s digital industry, has emphasized the government’s commitment to creating an enabling environment with ample space and opportunities for entities seeking support or funding.

Prime Minister Srettha Thavisin’s vision for the digital industry aligns seamlessly with the objectives of the “D-startup” project. He strongly believes in Thai startups’ potential and creativity, seeing them as catalysts to enhance the country’s competitiveness. 

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