Singapore, Hong Kong, Tokyo, or Seoul are probably the most dynamic cities of Southeast and East Asia, and when it comes to technology, business or finance, these are the names that come up first. As a startup founder, you will probably consider these locations first.
How about Bangkok? What’s happening there? Thailand is obviously a good tourist destination, but what are the business opportunities for the tech industry?
To answer this question, Bangkok Entrepreneurs, a community of local business people, has published the Thailand Startup Ecosystem Q4 2015 Report.
This report gives a comprehensive overview of the current startup ecosystem in Bangkok and in Thailand as of October 2015.
Thailand has a few success stories to put forward, including Agoda, the online hotel booking company bought by the American Priceline, or Ensogo, the daily deal website acquired by another American company, Living Social, but also some less famous names like Think Of Living, the real estate portal absorbed by the Malaysian iProperty or Tarad.com, the eCommerce platform taken over by the Japanese Rakuten.
Thai startups are also getting funding! As of today, the top-funded startup in Thailand is the ecommerce service provider aCommerce, that raised a total of US$18.8 million, but there are also a lot of ‘Series B’ and ‘Series A’ startup on their way to their next investment rounds.
Bangkok is also hosting more and more venture capital firms, accelerators and incubators, and even the local government is developing tools and services for the Tech industry.
Coworking spaces are opening everywhere and more and more associations and meetups help to connect founders, cofounders, partners, investors, and job seekers.
Of course, Thailand is less developed than some of its richest neighbors like Malaysia or Singapore, and it is a smaller market than others, like Indonesia and the Philippines, but the country offers what is probably the best cost of living versus development ratio in the region (or even in the world), decent transportation and a good quality of life.
So, if you are looking for a place to start your new project, or to expand your current activities, or if you are an investor looking for new opportunities in Southeast Asia, have a look at the startup report and see what Bangkok and Thailand have to offer.
What do you think? Have you been to Bangkok? What do you think of the startup ecosystem here?
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
