Thailand may be known for its sunny beaches and flavorful cuisine, but with the second-largest economy in Southeast Asia, high mobile penetration and increasing social media usage, it is also proving to be an attractive location for startups and investments in a variety of sectors, including fintech, e-commerce, foodtech and agtech. A supportive government, which launched the Startup Thailand initiative in 2019 under the National Innovation Agency (NIA), is also investing heavily in boosting Thailand’s attractiveness as an innovation ecosystem. At the same time, a multitude of public and private accelerators and incubators have also popped up to support aspiring entrepreneurs and nascent startups. Read on to learn more about the top 10 accelerators and incubators in Thailand!
Who: SPARK Accelerator is a 12-week boot-camp program that supports high-potential early-stage Thai startups through intensive mentoring sessions with regional and international experts to guide and improve startups’ capabilities, products and solutions. It was launched by the Israeli AGW Group in conjunction with the Thai NIA.
Who: HUBBA was Thailand’s first co-working space, established in 2012. HUBBA Accelerator is a next-generation accelerator established in partnership with Investible, an Australian early-stage investment group, with an eight-week program.
Sector(s): Three sectors or niches selected per program
Who: Thailand’s first global fintech accelerator program is a 12-week program that allows startups to collaborate with Bangkok Bank, one of Thailand’s and Southeast Asia’s largest commercial banks. Selected startups will receive dedicated mentorship from financial experts from across Bangkok Bank and its subsidiary, Bualuang Ventures, as well as strategic guidance from international venture firm and innovation provider, Nest.
Who: Krungsri Unicorn is an internal startup studio targeted at employees while Krungsri RISE is a corporate fintech accelerator, both under the auspices of Krungsri Finnovate, a Corporate Venture Capital (CVC) started by Krungsri Group (also known as the Bank of Ayudhya, Thailand’s fifth-largest bank in terms of assets, loans and deposits.)
Who: This 2-month Bangkok-based program has positioned itself as the First Smart City Accelerator in the region. It was developed by the Thai Digital Economy Promotion Agency (DEPA) in partnership with HUBBA Thailand and Techsauce Media.
Sector(s): Smart City
Who: StormBreaker Venture is the first EdTech-focused venture capital fund in Southeast Asia, and its accelerator program consists of an eight-week boot camp for EdTech startups in Thailand.
Who: SPACE-F is the first global FoodTech startup incubator and accelerator in Thailand. The 4-month accelerator program is designed for more experienced startups with some traction. Startups will focus on scaling their business, getting market feedback and building relationships with food industry partners and investors.
Who: Global innovation ecosystem developer Plug and Play’s Thai presence has two prongs: its Smart Cities Program and its Food and AgTech Program. It brings together technology startups, corporations, governments and investors.
Sector(s): Smart Cities, FoodTech, AgTech
Who: Developed by the Thai NIA along with the Research & Innovation Sustainability Center and Siam Kubota Corporation, a manufacturer of agricultural machinery, AGrowth is a 12-week accelerator program in Bangkok aimed at agricultural startups looking to enter the international market.
Who: Cofounded by a number of different corporate players including SCG Chemicals (one of the largest integrated petrochemical companies in Asia) and Houston Technology Center Asia, Sprint offers a 3-month accelerator program for deep tech startups at the early or seed stages.
Sector(s): Sustainability, Industrial IoT, Advanced Materials, Healthcare, Medical Devices