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Thailand’s Digital Economy Promotion Agency

Digital Economy Promotion Agency (depa) recently revealed the results of its Smart Economy Showcase Project organised in Lat Phrao and Pathum Wan areas, highlighting over 50 digital startups that have implemented 12 digital technologies. 

With its “On Ground” and “On Cloud” activities, the project urges entrepreneurs to apply digital technologies to uplift their businesses. Over 1,000 business matchings have resulted, generating more than 30 million baht in business value. Now depa aims to expand the project to six other areas.

Dr. Nuttapon Nimmanphatcharin, President/CEO of depa, explained that the Smart Economy Showcase Project was implemented in Lat Phrao and Pathum Wan districts in collaboration with eight supporting partners. Its objective is to support Thai entrepreneurs, SMEs, vendors, street food stalls, and fresh market shops to apply digital technologies in their businesses. 

“Twelve digital technologies provided have been developed by 50 Thai digital startups selected for this project,” he said. “Using ‘On Ground’ and ‘On Cloud’ activities, entrepreneurs learn to deal with business management, market expansion, cost saving, and revenue generating issues.”

All the activities were organised with COVID-19 safety protocols in place and in accordance with the new normal way of living.

“The project attracted attention and interest from entrepreneurs in the two pilot areas, resulting in over 1,000 business matchings,” Dr. Nuttapon continued. “depa also targets expanding implementation to six other areas of Bangkok, Nakhon Sawan, Nakhon Pathom, Chai Nat, Sing Buri, and Lop Buri.”

“Overall, depa expects the project to support over 20,000 small-to-large size entrepreneurs to gain access to and proficiency in digital technologies. The project can help entrepreneurs run their business more effectively, thereby increasing income, reducing cost, and expanding their markets, so making the most of the advantages of the digital economy era we are living in. If the Smart Economy Showcase Project runs as planned, it will generate over 30 million baht.”

depa plans to execute the project for all levels of entrepreneurs, especially small vendors and street food stalls. This is to be done by organising events and activities for entrepreneurs and digital startups to meet, share, get ideas, and have digital technology ‘try on’ experiences.”

“The activities focus on developing human capabilities and building (upskilling) digitally-skilled human resources (smart people) to serve industrial sectors. The project also supports businesses to gear towards Smart City features and gives them opportunities to expand their market reach regionally by utilising knowledge from the free digital transformation courses provided.”

“With the importance of applying digital technologies to advance Thai business sectors, in this project, depa and partners integrate collaborative actions to help Thai entrepreneurs run their businesses effectively, broaden their horizons, and ensure stability and competitiveness in the Digital Economy System world unfolding.”

www.depa.or.th

S. Jack Heffernan Ph.Dhttps://www.knightsbridgelaw.com
S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.

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