Thai startups are growing

BANGKOK, March 23 (TNA) -- About 1,500 Thai startups have thrived for two years and a bright prospect continues for them this year especially in the technological sector. Sakon Varanyuwatana, vice minister for commerce, quoted the New Economy Academy (NEA) as reporting that about 1,500 startups ran their businesses well in 2016 and 2017 and the combined value of their assets was estimated at 53 billion baht. High growth potential is expected this year for startups with businesses concerning e-commerce, FinTech, AgriTech, EdTech, e-service and the Internet of Things, he said. Mr Sakon said that this year the Commerce Ministry was supporting startups by enhancing their capacities, helping them reach Southeast Asian markets, introducing them to the value creation economy, enabling them to meet global new demand and developing new trade infrastructure. NEA has conducted about 150 activities to empower startups and intends them to cover more than 100,000 startups, he said. (TNA)