Stock Exchange Ready to Support Startups and Develop Ecosystems

The Stock Exchange of Thailand hopes to have a role in pushing startups as a base for developing the country in the new digital era by helping to develop the startup ecosystem for startups in four aspects.

SET President Kesara Manchusree said the exchange sees the importance of developing startups as essential cogs in pushing through new technology as a tool for future development of the Thai economy.

Kesara said the Stock Exchange itself had the duty to help develop financial technology, or fintech and create platforms enabling startups to raise capital to develop their products and services and make a real profit.

However, startups can find a steep path to success if there is no ecosystem to help them. Therefore, the SET has laid out a plan to develop a startup ecosystem, first by focusing on education. The SET previously held courses on investing and raising capital from capital markets. The exchange will expand this to include useful courses on entrepreneurship and startups, tapping into Thailand’s vast university system, where professors have their ideas on how to create new businesses.

The second focus is the investment. The SET has set up a venture capital fund with the Government Savings Bank and Kasikorn Bank to invest in startups businesses and small and medium-sized enterprises, or SMEs.

The third area of focus is infrastructure. The LiVE Platform has been created as a source to raise capital through equity crowdfunding. Its outstanding feature is offering startups the opportunity to pitch their products and services, and a chance to expand markets from having a diversity of investors willing to provide much-needed funding.

This will help increase alternatives for raising capital and create a secondary market as an alternative exit for investors.

The fourth aspect is to stimulate the development of innovations concerning capital markets by hosting the capital market innovation contest.

The SET also cooperated with the National Innovation Agency as a sponsor of Startup Thailand 2018. Besides launching the LiVE Platform for startups and investors, startup veterans have been invited to share their knowledge and listen to startup businesses on the LiVE Platform.

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Mrs. Kesara Manchusree, President, The Stock Exchange of Thailand