Agenda 3: Incubate Entrepreneurs and Develop Networks of Innovation-Driven Enterprise

The 5 technology cluster, as well as newly-emerging industries will support entrepreneurs and networks of innovation – driven enterprises through the following developments:

• 1. A shift from traditional farmers to” Smart Farmer” who focus on management and technology and have the ability to convert themselves into a modern agricultural business model. Development of ecosystem for smart farmers will include educational and training, study and career support funds, database and agricultural information system development.

 

• 2. A transformation of traditional SMEs into “Smart SMEs” Thailand 4.0 aims to increase the revenue and contribution of SMEs from 37% of total GDP to 50% of national GDP within 10 years. The Government plans to develop SMEs through financial support for SMEs that have potential but lack of financial liquid, develop knowledge and management skills, enhance digital transformation, create Big Data and develop open innovation for SMEs.

 

• 3. A switch from traditional services to “High Value Services” Thailand is internationally recognized in 6 service businesses; (1) Wellness & medical services: spa and beauty services, elderly care, medical services (2) Digital content services: movie industry, advertising, animation, gaming, and software (3) Hospitality services : tourism service, hotel management, reception services, event organizations (4) Education services (5) Professional services: designers, accountants, lawyers, consultants, doctors, dentists, IT developers and (6) Logistics services: logistics, distribution centers, IT logistics, postal services. Several measures are set  to enhance competitiveness of these 6 services cluster, for example, investment promotions, establishment of Service Innopolis, build global collaborative and  market networks.

 

• 4. Startup development promotion Thailand 4.0 has set the policy to support startups development at all stages with the policy to push Thailand towards becoming “Center of Connectivity and Destination for Startup Investment in ASEAN” by encouraging competition for business ideas, providing clear and strong incentives to angel and venture investors, undertaking policies to support incubation and growth of startups and establishing stock exchanges for startups to sell the equity of successful startups to interested investors.

 

Moreover, 3 measures have been set in order to build ecosystems for incubating startups. Such measures include (1) financial support and risk management measures, (2) Capacity-Building Measures for Thai startups, and (3) Building connectivity with the regional and global community.