Agency seeks to unlock private capital
The NIA targets funding for 50 startups by the end of 2027 under the new decree.
The National Innovation Agency (NIA) expects the long-awaited Startup Act to help revitalise Thailand's startup ecosystem by enabling co-investment mechanisms to attract private capital, prepare high-potential startups for initial public offerings, and support their expansion into global markets.The draft aims to create a legal framework for startups, designating NIA as a one-stop service agency and addressing long-standing legal and fundraising constraints that have limited the growth of Thai startups.
Krithpaka Boonfueng, executive director of NIA, said the draft is expected to seek cabinet approval within 1-2 weeks, before moving through parliament later in the year given support from political parties.
The primary goal of the draft is to remove legal barriers under the Thai Civil and Commercial Code that hinder the growth of limited companies and modern fundraising methods, she said. The regulation also addresses challenges related to funding, skilled labour, expert advice, and the lack of support from a central government agency, said Ms Krithpaka.
