New entrepreneurs and other startups using technology in their business operations are the target groups that the government attaches great attention to because they serve as a base for employment and emergence of innovations. Although each one is regarded as a small business by many people, it is considered a fast-growing business group and plays an important role in driving the Thai economy.
Therefore, in order to develop and support the growth of startups, the government established the Angel Fund to connect and provide support to the entrepreneurs, including partners in both the public and private sectors, in the form of financial resources and business and innovation skills development courses.
Delta Electronics (Thailand) Public Company Limited is one of the private sector partners in collaboration with the Department of Industrial Promotion (DIProm) in implementing the Angel Fund program. This company provides funding to entrepreneurs who win business idea presentations with their plans. It aims to develop talents in Thailand and nurture startups in the industrial and innovation sectors in order to respond to the government’s policy to support new entrepreneurs with advanced technology-based business models to improve their potential, business extension, and product commercialization.
The Angel Fund not only provides startups access to funding opportunities but also provides them with the latest business experience and technology and know-how. It also helps entrepreneurs develop six vital business skills: business composition and modeling, innovative design that meets customer needs, monetization design, financial planning analysis, market testing, and communications and presentations. This helps them to prepare for presenting the business model to the private sector in the search for potential sponsors and funding sources to ensure the acceleration of capital injection into the industrial sector. The commercial marketing links, cooperation with the country’s leading private sector partners through DIProm Startup Connect will strengthen the Thai economy in the future.
The Angel Fund is now able to increase access to funding for many Thai startups from various fields of business and create more economic value.
The Angel Fund for Startups is a cornerstone of collaboration between the Thai government, educational institutions and industry partners to support Thailand’s economic recovery in the “new normal” era and further development toward Thailand 4.0.
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