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Digital, Creative, and Startup
Ecosystem
September 2019
Thailand’s Burgeoning Digital Economy
Source: 1Ministry of Digital Economy and Society
2
With the market value of its digital economy considered the 2nd largest in ASEAN, Thailand has witnessed a digital revolution affecting
processes, activities and transactions across almost every sector. Driven by the pursuit of the economic targets and vision contained
within its Thailand 4.0 policy, Thailand is well on its way to achieving digital transformation. In 2018, it was estimated that approximately
17% of Thailand’s Gross Domestic Product (GDP) was derived from the digital economy1.
As part of the country’s drive towards achieving an economy that is propelled by digital and cutting-edge technologies, numerous steps
have been taken to improve overall efficiency and economic growth. This approach has seen Thailand stand out as a digital leader
within ASEAN, and is reflected in the country’s improvements across a range of international rankings.
Digital Contribution
Estimated contribution to
Thailand’s GDP
Forecast contribution to Thailand’s
GDP
17%
25%
Thailand 4.0 “Value-Based Economy”
Innovation Technology Creativity
2018
2027
The digital economy has had a profound impact on both the business landscape and the lives of ordinary people. At the global level, the
number of internet users has grown exponentially due to a number of significant technological advancements. Southeast Asia is no
exception to this trend. It is regarded as the world’s fastest growing internet region, while ASEAN’s digital economy has also been
predicted to reach a value of USD 2 trillion by 2025.
Thailand’s Digital Competitiveness
3
Since Thailand’s creation of the Digital Economy and Society Development Plan in 2016, a number of positive strides have
been taken towards achieving improved economic and social development. These developments have been captured across a
range of different international rankings and indices.
The ICT Development Index World Digital Competitiveness Index
e-Government Development Index World Competitiveness Ranking (Technology Infrastructure)
The ICT Development Index: Designed
by the International Institute for
International Telecommunication Union
(ITU), which reflect progress in ICT
development in both developed and
developing countries.
World Digital Competitiveness Index:
Published by the International Institute
for Management Development (IMD),
this ranking determines countries’
levels of digital competitiveness as
scored against 50 indicators.
e-Government Development
Index (EGDI): Issued by the
United Nations, the EGDI
assess the quality and
capacity of e-government
services in nations across
the globe.
World Competitiveness Ranking (WCR):
Launched by the International Institute for
Management Development (IMD), the WCR
measures the institutions, policies, and factors
affecting the levels of economic prosperity. In
2018, Thailand improved significantly in
technology infrastructure, jumping form 41st
2014, to 36th in 2018
2013
2017
78th 78th
81st
2014
2018
39th
44th
2014
2018
73rd
102nd
2014
2018
36th
41st
Why Thailand:
Human resources
Source: 1Digital Economy Promotion Agency and 2Adecco
4
Thailand’s labor force has played a significant role in transforming the country into a
digital economy. This progress has been fundamentally driven by a consistent stream
of university graduates in a range of fields related to ICT. In 2018, there were
approximately 31,000 people working in ICT-related fields in Thailand.
Thailand provides the necessary social and economic factors required for a strong and
vibrant digital economy. These include human resources, digital infrastructure and
supportive government policies.
Estimated New Graduate Salary by IT Jobs2
Database Administrator 536-788
IT Application Support 473-946
IT Support 568-788
Programmer 473-946
Software Engineer 568-788
System Administrator 473-788
Data Scientist / Data Engineer 1,104-1,261
(USD per Month)
Estimated Number of ICT Workforce (2018)1
16,850
4,885
4,889
4,830
0 4,000 8,000 12,000 16,000
Programmer/ Softwear Developer/ Tester
Business Analyst/ Softwear Analyst and
Designer/ Softwear Architect
Softwear/ IT Project Mager
System Engineer/ Network Engineer
Number of Universities
Offering ICT Programs
Thailand’s Global Talent
Competitiveness Index
122
Universities
4th
in ASEAN
Why Thailand:
Digital Infrastructure
Source: 1The National Broadcasting and Telecommunications Commission and 2 Ministry of Digital Economy and Society
5
In 2016, the Thai government established the Ministry of Digital Economy
and Society. This was followed up one year later with the announcement of
a Thailand Digital Government Development Plan 2017-2021. Each of these
steps was aimed at developing digital proficiencies across all sectors of Thai
society, including tourism, education, finance, and public administration.
To drive genuine transformation and develop a digital infrastructure
that is easily accessible, notable investment has been made across a
range of areas. For hard infrastructure, the government has put
emphasis on providing internet speed, internet connection, as well as
the connection of submarine cables and clusters for digital industry.
Hard Infrastructure
Development of Access to Internet 1
2.07 2.62 3.17 3.78 4.31 4.87 5.44 6.23
7.22
8.21 9.00
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018(e)
Number of Broadband Subscribers (Million)
11% 13% 16% 19% 21% 24% 26% 29% 34%
38% 42%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018(e)
Broadband Penetration per Household (%)
Submarine Cable Network Connections2
Digital Park Thailand is a new economic cluster
strategically located in the Eastern Economic Corridor
(EEC) as a destination for digital global players and
digital business innovators.
• Ultra high speed broadband infrastructure
• International submarine cable station
• Data center
• Package of tax and non-tax incentives
Core Infrastructure
and Facilities
Currently, there are 6 submarine cable systems provided
by CAT Telecom, with another route currently under
construction. This will strengthen network connection
across different regions and support Thailand’s goal of
becoming an internet and communication hub of Asia.
6
Submarine
Networks
Digital Cluster
Why Thailand:
Digital Infrastructure
Source: Bank of Thailand
6
Soft Infrastructure Service Infrastructure
• Real-Time Fund Transfer System
• Facilitate e-Payment transactions among
people, businesses and governments
In order to move towards a cashless society, the ‘National e-
Payment Master Plan’ was introduced in 2017 to encourage the
use of e-payments, such as PromptPay, Electronic Data Capture
(EDC), and Quick Response (QR) Code.
39 Million IDs
Digital Government Services
Over the past few years, the Thai government has launched
various new laws and regulations to support the implementation of
its digital economy policy. Legal updates also include the Act on
Digital Development for Economy and Society, which saw the
establishment of the National Digital Economy and Society
Committee chaired by the Prime Minister. The purpose of these
new laws and regulations is to enhance convenience, reduce
obstacles, and increase efficiency in online activities and
transactions.
Example of Thai laws and regulations
• Electronic Transactions Act
• Computer Crime Act
• Digital Development for Economy and Society Act
• Data Privacy Act
• National Cyber Security Act
2
5
t
h
• Platform
• Online Software
Why Thailand:
Supporting Policies
Source: 1 Minister of Digital Economy and Society as of January 2019
7
Thailand’s digital transformation is supported by a number of national policies, most notably Digital Thailand, which was announced in
2016. Comprising six strategies, the plan acts as a digital blueprint for revolutionizing current structures and operations. The ultimate goal of
this plan is to leverage digital technology and strengthen the economy and society with sustainable growth.
Status of Digital Thailand1
Strategy 1: Build country-wide
high-capacity digital infrastructure
Strategy 2: Boost the economy
with digital technology
Strategy 3: Create a knowledge-
driven digital society
Strategy 4: Transform into
a digital government
Strategy 5: Develop a workforce
for the digital era
Strategy 6: Build trust and confidence
in the use of digital technology
• Provide free WiFi for 24,000 villages
through the “Net Pracharat” program
• Extend submarine cables across the region
• Encourage the establishment of a 5G
Testbed in the EEC area
• Issue laws relevant to digital security and
data piracy such as the personal data
protection law
• Establish the ASEAN-Japan Cybersecurity
Capacity Building Centre
• Establish 2,280 local digital centers
• Introduce the “Coding Thailand” and
“Digital Startup” programs
• Develop a local e-commerce platform
• Establish the IoT institute to support R&D for
the digital industry
• Conduct a Smart City pilot project in 7
provinces, including in the EEC
• Increase people’s awareness of digital literacy
through the “Net Pracharat” network
• Develop a digital identity system (Digital
ID platform)
• Encourage the use of Big Data Analytics
to enhance government integration and
develop data centers
Digital Industry Landscape
Source: Hootsuite as of 2018
8
Just as in many parts of the world, the digital economy in Thailand has been growing at a rapid pace. In 2017, Thailand’s
digital economy grew by 20%, accounting for approximately 17% of the nation’s GDP. In 2018, the value of the digital
economy was expected to rise again and surpass 19% of GDP.
Main key drivers for such growth are the high internet penetration and large number of social media users.
Use of Social Media
57 Million
82% of Population
Average daily time spent on
social media via any device
3 H 10 M per person
55.6 Million
80% of Population
Active Social Media Users
51 Million
Mobile Users
Internet Users
Source: 1Electronic Transactions Development Agency 2Digital Economy Promotion Agency and 3True Internet Data Center
9
Each year, a growing number of Thai citizens become smartphone users,
with approximately 67% of the entire population now owning or having
access to a smartphone on a regular basis. This trend, along with ever-
increasing internet penetration rates, has contributed significantly to the rapid
expansion of Thailand’s vibrant e-commerce sector. Since 2014, the total
value of the e-commerce market in Thailand has grown by approximately
10% each year, and in 2018 was valued at 103.6 billion USD.
e-Commerce
Thailand’s software industry has been consistently robust on
the back of the country’s excellent infrastructure, which is
crucial to software production. This includes broadband
internet, network security, a low rate of power outages, and
sound production facilities.
Software
67.11 74.09 84.48 91.16 103.96
2014 2015 2016 2017 2018f
+10.41 +14.03% +7.91% +14.04%
Value of e-Commerce1
Unit: Million USD
Value of Software Market2
Data Center & Cloud Data centers and the cloud industry have flourished due to demand from
organizations with an interest in digital transformation and AI adoption, especially in
the banking sector. This trend has also gained popularity among SMEs and
Startups looking to reduce costs and the risks of cyber threats. In 2017, Thailand’s
market grew by approximately 35%, compared to 12% for the global market. The
value of data centers and the cloud market is approximately 0.88 billion USD3.
Examples of Notable Providers
Unit: Billion USD
463.7 464.2 420.1 451.1
1,250.8 1,270.3 1,234.2 1,275.7
1,714.4 1,734.5 1,654.3 1,726.8
2014 2015 2016 2017
Software Software Service Software Market Value
Digital Industry Landscape:
e-Commerce, Software and Data Center
Creative Industry Landscape:
Film Industry
Source: 1Department of International Trade Promotion
10
In an attempt to expand beyond the traditional industries within the digital economy, the Thai government has in recent years
made a concerted effort to direct additional support towards a range of creative sectors. With an abundance of talent in the
country, Thailand’s creative industry has the potential to grow significantly in the years to come.
Thai films are generally well received across the region, with
a number, including Laddaland, The Billionaire, Bangkok
Traffic (Love) Story, and Bad Genius, receiving notable
recognition.
Thailand has long been known within Southeast Asia as a
hub for filmmaking. The industry’s contribution to the Thai
economy continues to increase significantly, with an
approximate value of 0.78 billion USD1. There has been a
corresponding growth in the number of foreign production
companies entering the Thai market. One of the most
notable entrants was South Korea’s CJ Entertainment.
Following an initial investment of 3.27 million USD, the group
is expected to complete 10 feature-length films by the end of
2019.
Nakee 2 is a Thai fantasy / romance film that earned more than 1.64 million USD in revenue on its first
day of release, making it the highest-grossing Thai film premiere in history. Nakee 2 is considered one of
the most immersive computer-generated (CG) films made in Thailand, and is representative of the
increasing ability of Thai production houses to achieve world-leading status. Following its release, Nakee 2
received countless positive reviews from film critics both within and outside Thailand. The movie was also
released in cinemas in Laos, Cambodia and Vietnam.
Creative Industry Landscape:
Animation
11
Since the early-mid 2000s, Thailand has developed a reputation for generating high-quality animation work whilst
simultaneously offering a huge pool of creative talents. Coupled with relatively low overheads, this has enabled Thailand to
produce and contribute to a range of local and international animations such as The Blue Elephant and Adventure Planet.
It is forecast that the value of the animation
industry in Thailand will reach 131.62 million USD
in 2019, a 4% increase from the previous year.
The Blue Elephant was written and directed by Thai filmmakers and
has gone on to be shown in cinemas and festivals across the world
including Canada, the USA, Iceland and South Korea. The movie
follows the adventures of a young elephant by the name of Khankluay,
highlighting his experiences of personal growth along the way.
Notable Animation by Thai Studios
Yak, or the Giant King, gained critical acclaim from both local
and international critics for its story telling, creative adaptation
and the advanced technology used in the movie. It was shown in
Russia and South Korea, while it was sold on DVD in New
Zealand and Australia.
The Legend of Muay Thai: 9 Satra was released
in 2018 to widespread acclaim from both domestic
and international critics. Combining a beautiful
story, with high-quality production and
international-standard specials effects, it
demonstrated the success of the Thai film industry
on the global stage.
Many Thai studios are also chosen as outsourced service providers for
world-leading animation developers. Visual effects and animation made
by Thai studios are behind the success of well known animation films
such as Rango, Journey to the West 2 and Frozen.
Creative Industry Landscape:
Gaming
Source: 1 Global Mobile Game Confederation (2017)
12
The global gaming market is worth an estimated 46 billion USD per year. With Thailand playing host to 18.3 million self-
declared gamers1, it is no wonder that it is the fastest-growing video game market in Southeast Asia. A survey by the Digital
Economy Promotion Agency reveals that the Thai gaming industry grew by 18% in 2018, up from 15% growth in 2016. It is
forecast that the value of the industry will reach 0.75 billion USD in 2019.
Thai Local Games for the Global Stage
Araya Candy Meleon
Home Sweet Home
ARAYA is a first person horror game,
developed by Thai-based company, MAD
Virtual Reality Studio. The game involves
gathering evidence in a hospital to discover
the truth behind the mysterious murder
case of Araya. ARAYA was developed to
be optimized with the VR head set, creating
another level of the horror game experience
for players.
Home Sweet Home is a video game
developed by the Yggdrazil Group, a Thai
development team. Featuring horror
elements drawn from Thai folklore, the
game received positive comments from
industry critics on the use of Thai
mythological elements to create its
frightening atmosphere. The game has
gone on to achieve international success.
Candy Meleon is considered a masterpiece
created by Thai game company LevelLoop
in 2013. After it was selected by Apple to
be featured on the App Store, the game
achieved international renown and is in the
top 50 downloaded games in many
countries, including the USA, China and
France.
Startup Ecosystem
Source: 1 Ministry of Higher Education, Science, Research and Innovation
13
Thailand’s vibrant startup ecosystem is largely attributed to the availability of strong partnerships with creative companies, groundbreaking
ICT entrepreneurs, and high customer demand. From 2012 to 2017, the number of startups funded by venture capital in Thailand increased
from a mere 3 in 2012, to more than 90 companies in 2017. Funding for startups over the same period also increased at a rapid rate from
2.1 million USD in 2012 to 271.48 million USD in 2017.
The country provides a robust, well-functioning, and well-
structured ecosystem to support various startup initiatives,
ranging from venture investors, accelerators, and incubators,
to government agencies and private firms.
3
60
75
90
1
56
74
96
2
30
44 44
1 5 7 8
0
20
40
60
80
100
120
2012 2015 2016 2017
No. of Stakeholders in Thailand’s Startup Ecosystem2
Funded Startups VCs and Corporations investing in Thailand
Active Angle Investors in Thailand Accerelators
Thailand Startup Ecosystem Development1
Source: 2Techsause
Startup Ecosystem:
Funding Opportunities and Successful Startups
14
Funding Opportunities
With a growing number of startups operating in Thailand, the
potential for forward growth is exciting. As such, there has been a
range of funding commitments made by various government
agencies including the 570 million USD venture fund made
available in 2016 to support the startup ecosystem, and the 150
million USD ‘angel fund’ provided by the Digital Economy
Promotion Agency under the Ministry of Digital Economy and
Society.
In addition, a large number of corporate capital venture firms
and Thai commercial banks have also mobilized funding in
support of new startup initiatives. In total, venture capital firms
supported more than 101 startups in 2018, up from only 1 in
2012 . In the same period, the number of venture capitalists
and corporations investing in Thai startups grew accordingly,
from 1 to 96.
Successful Thai Startups
Omise: Launched in 2015, Omise is an
online payment gateway that provides
online stores with simple and cost-
effective payment solutions. Within a
short span of time, it has flourished as a
large-scale enterprise in Asia.
aCommerce: With its headquarters in
Thailand, this startup was established in
2013. Currently, aCommerce is known as
one of the largest regional e-commerce
enablers that provides end-to-end and a la
carte e-commerce solutions for brands in
Southeast Asia.
Pomelo Fashion: Pomelo originated
from an online clothing store in
Thailand. Funded by angel investors,
this startup has grown with remarkable
speed and, finally, stepped up to
establish itself as a leading fashion
brand for Asian customers.
Startup Ecosystem:
Startup Accelerators
15
Thailand’s digital ecosystem continues to grow at a rapid pace. This is primarily due to the wide range of banks, telecommunications companies,
and other leading businesses that have developed and implemented accelerator programs in recent years.
Digital Ventures is a subsidiary of Siam Commercial Bank with a primary focus on the financial and technology sectors. Successful startups
have the chance to access a 300,000 THB (9,810 USD) grant and a subsequent 1,000,000 THB (32,700 USD) in seed funding. Some of their
past successful startups include Chomchob (credit card exchange platform), OneStockhome (construction materials supplier) and PetInsure
(insurance brokerage service).
The AIS The Startup CONNECT program allows startups to present ideas and projects for potential collaboration and partnership with AIS.
Notable successful startups include Food Story (restaurant POS system provider), Stock Radar (stock application) and QueQ (restaurant
reserving application).
True Incube is an accelerator program from True Cooperation. The focus is on supporting creative startups with funding and tailored coaching.
It provides an opportunity for businesses to partner with True Cooperation and to receive relevant marketing support. Some previous
successful startups include ARINCARE (software system provider for pharmacies) and Sellsuki (stock and order management application).
Dtac accelerate has been funding startups for the past six years. Over this time, it has invested in 46 teams from 5 different batches of
startups. Dtac has shown interest in all types of startups, including Agritech, Edtech and Deeptech. Previous successful Dtac accelerate
startups include Claim Di (car accident claiming platform), Ricult (agriculturist credit scoring application), and Somjai Loan (home loan linker).
FinLab is a business accelerator that primarily supports technology companies. Running since 2015, it is searching for tech companies that
provide innovative solutions for SMEs. Previous alumni include Siam Express (travel solution service) and HelloGold (gold saving platform).
ImpacTech offers private acceleration programs and skills training for successful applicants. This training normally lasts for three months.
Two of the most notable successful alumni include weeboon.com (donation platform) and ChiiWii (health consultation platform).
Key Supporting Organizations
16
Ministry of Digital Economy and Society: oversees and implements relevant policies that support the growth of the
technology sector and the digital economy.
Digital Economy Promotion Agency (Public Organization): supports
the development of the digital industry through innovation and digital
technology.
National Science and Technology Development Agency (NSTDA):
a key driver of national science and technology capabilities providing
support for R&D in five core areas, namely agriculture and food, energy
and environment, health and medicines, bio-resources and communities,
and manufacturing and service industries.
National Innovation Agency (NIA) (Public Organization): operating
under the auspices of the Ministry of Science and Technology, the NIA
is mandated to conduct and promote activities that fast-track innovations
in industry, business, and government sectors.
National Electronics and Computer Technology Center (NECTEC):
has the primary mandate to support research and development
opportunities for electronics and computer technologies. It also provides
a unique linkage between research communities and industries.
Privileges, Incentives and Offers
DEPA Fund including Digital Manpower Fund,
Digital Manpower Executive, Digital
Transformation Fund and Digital RDI Fund
Startup Voucher Program
- Fund for Thai startups (with not less than 51
percent Thai shareholders)
- 2 periods of reimbursement for a maximum
75% of project costs (not exceeding 800,000
bath)
NECTEC Research Unit and Laboratory
- Artificial Intelligence Research Unit (AINRU)
- Communications and Networks Research
Unit (CNWRU)
- Incentive program for innovation business
development
- Innovation project development and funding
- Collaboration with True Digital Park to launch
the Bangkok Cyber Tech District
Investment Incentives
17
Group Activities
CIT
exemption
Exemption of import
duties on machinery
Software
A1 Embedded Software 8 years 
A1 High Value Added Software 8 years 
A3 Enterprise software and/or digital content 5 years 
A3 Digital Services 5 years 
B2 E-commerce - -
Group Activities CIT exemption
Exemption of import
duties on machinery
Industrial Zone or Technology Industrial Zone
A1 Digital Park 8 years 
A1 Data center 8 years 
A1 Innovation Incubation Center 8 years 
A1 Cloud Service 8 years 
Digital Infrastructure
A2
International High-speed Marine
Communication Circuits
8 years 
Industrial Zone or Technology Industrial Zone
A3 Maker Space or Fabrication Laboratory 5 years 
B1 Co-working Space - 
Activities
CIT
exemption
Exemption of import
duties on machinery
Targeted Core Technology Development
Digital Technology Development 10 years 
Technology and Innovation
Service and Public Utilities
The BOI offers a wide range of incentives for investment projects
that meet national development objectives. The tax incentives
include the exemption of corporate income tax, together with the
exemption of import duty on machinery required for the project
and on raw or essential materials used in manufacturing exported
products. As for the non-tax incentives, the BOI also grants the
permission to bring in expatriates, the permission to take or remit
foreign currency abroad, and the permission to own land for use
in the project.
Creative Industry
Group Activities CIT exemption
Exemption of import
duties on machinery
A3
Industrial Zone for Motion Picture
Production (Movie Town)
5 years 
A3 Thai Motion Picture Production 5 years 
A3 Motion Picture Support Services 5 years 

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Thailand's Digital, Creative and Startup Ecosystem

  • 1. Digital, Creative, and Startup Ecosystem September 2019
  • 2. Thailand’s Burgeoning Digital Economy Source: 1Ministry of Digital Economy and Society 2 With the market value of its digital economy considered the 2nd largest in ASEAN, Thailand has witnessed a digital revolution affecting processes, activities and transactions across almost every sector. Driven by the pursuit of the economic targets and vision contained within its Thailand 4.0 policy, Thailand is well on its way to achieving digital transformation. In 2018, it was estimated that approximately 17% of Thailand’s Gross Domestic Product (GDP) was derived from the digital economy1. As part of the country’s drive towards achieving an economy that is propelled by digital and cutting-edge technologies, numerous steps have been taken to improve overall efficiency and economic growth. This approach has seen Thailand stand out as a digital leader within ASEAN, and is reflected in the country’s improvements across a range of international rankings. Digital Contribution Estimated contribution to Thailand’s GDP Forecast contribution to Thailand’s GDP 17% 25% Thailand 4.0 “Value-Based Economy” Innovation Technology Creativity 2018 2027 The digital economy has had a profound impact on both the business landscape and the lives of ordinary people. At the global level, the number of internet users has grown exponentially due to a number of significant technological advancements. Southeast Asia is no exception to this trend. It is regarded as the world’s fastest growing internet region, while ASEAN’s digital economy has also been predicted to reach a value of USD 2 trillion by 2025.
  • 3. Thailand’s Digital Competitiveness 3 Since Thailand’s creation of the Digital Economy and Society Development Plan in 2016, a number of positive strides have been taken towards achieving improved economic and social development. These developments have been captured across a range of different international rankings and indices. The ICT Development Index World Digital Competitiveness Index e-Government Development Index World Competitiveness Ranking (Technology Infrastructure) The ICT Development Index: Designed by the International Institute for International Telecommunication Union (ITU), which reflect progress in ICT development in both developed and developing countries. World Digital Competitiveness Index: Published by the International Institute for Management Development (IMD), this ranking determines countries’ levels of digital competitiveness as scored against 50 indicators. e-Government Development Index (EGDI): Issued by the United Nations, the EGDI assess the quality and capacity of e-government services in nations across the globe. World Competitiveness Ranking (WCR): Launched by the International Institute for Management Development (IMD), the WCR measures the institutions, policies, and factors affecting the levels of economic prosperity. In 2018, Thailand improved significantly in technology infrastructure, jumping form 41st 2014, to 36th in 2018 2013 2017 78th 78th 81st 2014 2018 39th 44th 2014 2018 73rd 102nd 2014 2018 36th 41st
  • 4. Why Thailand: Human resources Source: 1Digital Economy Promotion Agency and 2Adecco 4 Thailand’s labor force has played a significant role in transforming the country into a digital economy. This progress has been fundamentally driven by a consistent stream of university graduates in a range of fields related to ICT. In 2018, there were approximately 31,000 people working in ICT-related fields in Thailand. Thailand provides the necessary social and economic factors required for a strong and vibrant digital economy. These include human resources, digital infrastructure and supportive government policies. Estimated New Graduate Salary by IT Jobs2 Database Administrator 536-788 IT Application Support 473-946 IT Support 568-788 Programmer 473-946 Software Engineer 568-788 System Administrator 473-788 Data Scientist / Data Engineer 1,104-1,261 (USD per Month) Estimated Number of ICT Workforce (2018)1 16,850 4,885 4,889 4,830 0 4,000 8,000 12,000 16,000 Programmer/ Softwear Developer/ Tester Business Analyst/ Softwear Analyst and Designer/ Softwear Architect Softwear/ IT Project Mager System Engineer/ Network Engineer Number of Universities Offering ICT Programs Thailand’s Global Talent Competitiveness Index 122 Universities 4th in ASEAN
  • 5. Why Thailand: Digital Infrastructure Source: 1The National Broadcasting and Telecommunications Commission and 2 Ministry of Digital Economy and Society 5 In 2016, the Thai government established the Ministry of Digital Economy and Society. This was followed up one year later with the announcement of a Thailand Digital Government Development Plan 2017-2021. Each of these steps was aimed at developing digital proficiencies across all sectors of Thai society, including tourism, education, finance, and public administration. To drive genuine transformation and develop a digital infrastructure that is easily accessible, notable investment has been made across a range of areas. For hard infrastructure, the government has put emphasis on providing internet speed, internet connection, as well as the connection of submarine cables and clusters for digital industry. Hard Infrastructure Development of Access to Internet 1 2.07 2.62 3.17 3.78 4.31 4.87 5.44 6.23 7.22 8.21 9.00 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018(e) Number of Broadband Subscribers (Million) 11% 13% 16% 19% 21% 24% 26% 29% 34% 38% 42% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018(e) Broadband Penetration per Household (%) Submarine Cable Network Connections2 Digital Park Thailand is a new economic cluster strategically located in the Eastern Economic Corridor (EEC) as a destination for digital global players and digital business innovators. • Ultra high speed broadband infrastructure • International submarine cable station • Data center • Package of tax and non-tax incentives Core Infrastructure and Facilities Currently, there are 6 submarine cable systems provided by CAT Telecom, with another route currently under construction. This will strengthen network connection across different regions and support Thailand’s goal of becoming an internet and communication hub of Asia. 6 Submarine Networks Digital Cluster
  • 6. Why Thailand: Digital Infrastructure Source: Bank of Thailand 6 Soft Infrastructure Service Infrastructure • Real-Time Fund Transfer System • Facilitate e-Payment transactions among people, businesses and governments In order to move towards a cashless society, the ‘National e- Payment Master Plan’ was introduced in 2017 to encourage the use of e-payments, such as PromptPay, Electronic Data Capture (EDC), and Quick Response (QR) Code. 39 Million IDs Digital Government Services Over the past few years, the Thai government has launched various new laws and regulations to support the implementation of its digital economy policy. Legal updates also include the Act on Digital Development for Economy and Society, which saw the establishment of the National Digital Economy and Society Committee chaired by the Prime Minister. The purpose of these new laws and regulations is to enhance convenience, reduce obstacles, and increase efficiency in online activities and transactions. Example of Thai laws and regulations • Electronic Transactions Act • Computer Crime Act • Digital Development for Economy and Society Act • Data Privacy Act • National Cyber Security Act 2 5 t h • Platform • Online Software
  • 7. Why Thailand: Supporting Policies Source: 1 Minister of Digital Economy and Society as of January 2019 7 Thailand’s digital transformation is supported by a number of national policies, most notably Digital Thailand, which was announced in 2016. Comprising six strategies, the plan acts as a digital blueprint for revolutionizing current structures and operations. The ultimate goal of this plan is to leverage digital technology and strengthen the economy and society with sustainable growth. Status of Digital Thailand1 Strategy 1: Build country-wide high-capacity digital infrastructure Strategy 2: Boost the economy with digital technology Strategy 3: Create a knowledge- driven digital society Strategy 4: Transform into a digital government Strategy 5: Develop a workforce for the digital era Strategy 6: Build trust and confidence in the use of digital technology • Provide free WiFi for 24,000 villages through the “Net Pracharat” program • Extend submarine cables across the region • Encourage the establishment of a 5G Testbed in the EEC area • Issue laws relevant to digital security and data piracy such as the personal data protection law • Establish the ASEAN-Japan Cybersecurity Capacity Building Centre • Establish 2,280 local digital centers • Introduce the “Coding Thailand” and “Digital Startup” programs • Develop a local e-commerce platform • Establish the IoT institute to support R&D for the digital industry • Conduct a Smart City pilot project in 7 provinces, including in the EEC • Increase people’s awareness of digital literacy through the “Net Pracharat” network • Develop a digital identity system (Digital ID platform) • Encourage the use of Big Data Analytics to enhance government integration and develop data centers
  • 8. Digital Industry Landscape Source: Hootsuite as of 2018 8 Just as in many parts of the world, the digital economy in Thailand has been growing at a rapid pace. In 2017, Thailand’s digital economy grew by 20%, accounting for approximately 17% of the nation’s GDP. In 2018, the value of the digital economy was expected to rise again and surpass 19% of GDP. Main key drivers for such growth are the high internet penetration and large number of social media users. Use of Social Media 57 Million 82% of Population Average daily time spent on social media via any device 3 H 10 M per person 55.6 Million 80% of Population Active Social Media Users 51 Million Mobile Users Internet Users
  • 9. Source: 1Electronic Transactions Development Agency 2Digital Economy Promotion Agency and 3True Internet Data Center 9 Each year, a growing number of Thai citizens become smartphone users, with approximately 67% of the entire population now owning or having access to a smartphone on a regular basis. This trend, along with ever- increasing internet penetration rates, has contributed significantly to the rapid expansion of Thailand’s vibrant e-commerce sector. Since 2014, the total value of the e-commerce market in Thailand has grown by approximately 10% each year, and in 2018 was valued at 103.6 billion USD. e-Commerce Thailand’s software industry has been consistently robust on the back of the country’s excellent infrastructure, which is crucial to software production. This includes broadband internet, network security, a low rate of power outages, and sound production facilities. Software 67.11 74.09 84.48 91.16 103.96 2014 2015 2016 2017 2018f +10.41 +14.03% +7.91% +14.04% Value of e-Commerce1 Unit: Million USD Value of Software Market2 Data Center & Cloud Data centers and the cloud industry have flourished due to demand from organizations with an interest in digital transformation and AI adoption, especially in the banking sector. This trend has also gained popularity among SMEs and Startups looking to reduce costs and the risks of cyber threats. In 2017, Thailand’s market grew by approximately 35%, compared to 12% for the global market. The value of data centers and the cloud market is approximately 0.88 billion USD3. Examples of Notable Providers Unit: Billion USD 463.7 464.2 420.1 451.1 1,250.8 1,270.3 1,234.2 1,275.7 1,714.4 1,734.5 1,654.3 1,726.8 2014 2015 2016 2017 Software Software Service Software Market Value Digital Industry Landscape: e-Commerce, Software and Data Center
  • 10. Creative Industry Landscape: Film Industry Source: 1Department of International Trade Promotion 10 In an attempt to expand beyond the traditional industries within the digital economy, the Thai government has in recent years made a concerted effort to direct additional support towards a range of creative sectors. With an abundance of talent in the country, Thailand’s creative industry has the potential to grow significantly in the years to come. Thai films are generally well received across the region, with a number, including Laddaland, The Billionaire, Bangkok Traffic (Love) Story, and Bad Genius, receiving notable recognition. Thailand has long been known within Southeast Asia as a hub for filmmaking. The industry’s contribution to the Thai economy continues to increase significantly, with an approximate value of 0.78 billion USD1. There has been a corresponding growth in the number of foreign production companies entering the Thai market. One of the most notable entrants was South Korea’s CJ Entertainment. Following an initial investment of 3.27 million USD, the group is expected to complete 10 feature-length films by the end of 2019. Nakee 2 is a Thai fantasy / romance film that earned more than 1.64 million USD in revenue on its first day of release, making it the highest-grossing Thai film premiere in history. Nakee 2 is considered one of the most immersive computer-generated (CG) films made in Thailand, and is representative of the increasing ability of Thai production houses to achieve world-leading status. Following its release, Nakee 2 received countless positive reviews from film critics both within and outside Thailand. The movie was also released in cinemas in Laos, Cambodia and Vietnam.
  • 11. Creative Industry Landscape: Animation 11 Since the early-mid 2000s, Thailand has developed a reputation for generating high-quality animation work whilst simultaneously offering a huge pool of creative talents. Coupled with relatively low overheads, this has enabled Thailand to produce and contribute to a range of local and international animations such as The Blue Elephant and Adventure Planet. It is forecast that the value of the animation industry in Thailand will reach 131.62 million USD in 2019, a 4% increase from the previous year. The Blue Elephant was written and directed by Thai filmmakers and has gone on to be shown in cinemas and festivals across the world including Canada, the USA, Iceland and South Korea. The movie follows the adventures of a young elephant by the name of Khankluay, highlighting his experiences of personal growth along the way. Notable Animation by Thai Studios Yak, or the Giant King, gained critical acclaim from both local and international critics for its story telling, creative adaptation and the advanced technology used in the movie. It was shown in Russia and South Korea, while it was sold on DVD in New Zealand and Australia. The Legend of Muay Thai: 9 Satra was released in 2018 to widespread acclaim from both domestic and international critics. Combining a beautiful story, with high-quality production and international-standard specials effects, it demonstrated the success of the Thai film industry on the global stage. Many Thai studios are also chosen as outsourced service providers for world-leading animation developers. Visual effects and animation made by Thai studios are behind the success of well known animation films such as Rango, Journey to the West 2 and Frozen.
  • 12. Creative Industry Landscape: Gaming Source: 1 Global Mobile Game Confederation (2017) 12 The global gaming market is worth an estimated 46 billion USD per year. With Thailand playing host to 18.3 million self- declared gamers1, it is no wonder that it is the fastest-growing video game market in Southeast Asia. A survey by the Digital Economy Promotion Agency reveals that the Thai gaming industry grew by 18% in 2018, up from 15% growth in 2016. It is forecast that the value of the industry will reach 0.75 billion USD in 2019. Thai Local Games for the Global Stage Araya Candy Meleon Home Sweet Home ARAYA is a first person horror game, developed by Thai-based company, MAD Virtual Reality Studio. The game involves gathering evidence in a hospital to discover the truth behind the mysterious murder case of Araya. ARAYA was developed to be optimized with the VR head set, creating another level of the horror game experience for players. Home Sweet Home is a video game developed by the Yggdrazil Group, a Thai development team. Featuring horror elements drawn from Thai folklore, the game received positive comments from industry critics on the use of Thai mythological elements to create its frightening atmosphere. The game has gone on to achieve international success. Candy Meleon is considered a masterpiece created by Thai game company LevelLoop in 2013. After it was selected by Apple to be featured on the App Store, the game achieved international renown and is in the top 50 downloaded games in many countries, including the USA, China and France.
  • 13. Startup Ecosystem Source: 1 Ministry of Higher Education, Science, Research and Innovation 13 Thailand’s vibrant startup ecosystem is largely attributed to the availability of strong partnerships with creative companies, groundbreaking ICT entrepreneurs, and high customer demand. From 2012 to 2017, the number of startups funded by venture capital in Thailand increased from a mere 3 in 2012, to more than 90 companies in 2017. Funding for startups over the same period also increased at a rapid rate from 2.1 million USD in 2012 to 271.48 million USD in 2017. The country provides a robust, well-functioning, and well- structured ecosystem to support various startup initiatives, ranging from venture investors, accelerators, and incubators, to government agencies and private firms. 3 60 75 90 1 56 74 96 2 30 44 44 1 5 7 8 0 20 40 60 80 100 120 2012 2015 2016 2017 No. of Stakeholders in Thailand’s Startup Ecosystem2 Funded Startups VCs and Corporations investing in Thailand Active Angle Investors in Thailand Accerelators Thailand Startup Ecosystem Development1 Source: 2Techsause
  • 14. Startup Ecosystem: Funding Opportunities and Successful Startups 14 Funding Opportunities With a growing number of startups operating in Thailand, the potential for forward growth is exciting. As such, there has been a range of funding commitments made by various government agencies including the 570 million USD venture fund made available in 2016 to support the startup ecosystem, and the 150 million USD ‘angel fund’ provided by the Digital Economy Promotion Agency under the Ministry of Digital Economy and Society. In addition, a large number of corporate capital venture firms and Thai commercial banks have also mobilized funding in support of new startup initiatives. In total, venture capital firms supported more than 101 startups in 2018, up from only 1 in 2012 . In the same period, the number of venture capitalists and corporations investing in Thai startups grew accordingly, from 1 to 96. Successful Thai Startups Omise: Launched in 2015, Omise is an online payment gateway that provides online stores with simple and cost- effective payment solutions. Within a short span of time, it has flourished as a large-scale enterprise in Asia. aCommerce: With its headquarters in Thailand, this startup was established in 2013. Currently, aCommerce is known as one of the largest regional e-commerce enablers that provides end-to-end and a la carte e-commerce solutions for brands in Southeast Asia. Pomelo Fashion: Pomelo originated from an online clothing store in Thailand. Funded by angel investors, this startup has grown with remarkable speed and, finally, stepped up to establish itself as a leading fashion brand for Asian customers.
  • 15. Startup Ecosystem: Startup Accelerators 15 Thailand’s digital ecosystem continues to grow at a rapid pace. This is primarily due to the wide range of banks, telecommunications companies, and other leading businesses that have developed and implemented accelerator programs in recent years. Digital Ventures is a subsidiary of Siam Commercial Bank with a primary focus on the financial and technology sectors. Successful startups have the chance to access a 300,000 THB (9,810 USD) grant and a subsequent 1,000,000 THB (32,700 USD) in seed funding. Some of their past successful startups include Chomchob (credit card exchange platform), OneStockhome (construction materials supplier) and PetInsure (insurance brokerage service). The AIS The Startup CONNECT program allows startups to present ideas and projects for potential collaboration and partnership with AIS. Notable successful startups include Food Story (restaurant POS system provider), Stock Radar (stock application) and QueQ (restaurant reserving application). True Incube is an accelerator program from True Cooperation. The focus is on supporting creative startups with funding and tailored coaching. It provides an opportunity for businesses to partner with True Cooperation and to receive relevant marketing support. Some previous successful startups include ARINCARE (software system provider for pharmacies) and Sellsuki (stock and order management application). Dtac accelerate has been funding startups for the past six years. Over this time, it has invested in 46 teams from 5 different batches of startups. Dtac has shown interest in all types of startups, including Agritech, Edtech and Deeptech. Previous successful Dtac accelerate startups include Claim Di (car accident claiming platform), Ricult (agriculturist credit scoring application), and Somjai Loan (home loan linker). FinLab is a business accelerator that primarily supports technology companies. Running since 2015, it is searching for tech companies that provide innovative solutions for SMEs. Previous alumni include Siam Express (travel solution service) and HelloGold (gold saving platform). ImpacTech offers private acceleration programs and skills training for successful applicants. This training normally lasts for three months. Two of the most notable successful alumni include weeboon.com (donation platform) and ChiiWii (health consultation platform).
  • 16. Key Supporting Organizations 16 Ministry of Digital Economy and Society: oversees and implements relevant policies that support the growth of the technology sector and the digital economy. Digital Economy Promotion Agency (Public Organization): supports the development of the digital industry through innovation and digital technology. National Science and Technology Development Agency (NSTDA): a key driver of national science and technology capabilities providing support for R&D in five core areas, namely agriculture and food, energy and environment, health and medicines, bio-resources and communities, and manufacturing and service industries. National Innovation Agency (NIA) (Public Organization): operating under the auspices of the Ministry of Science and Technology, the NIA is mandated to conduct and promote activities that fast-track innovations in industry, business, and government sectors. National Electronics and Computer Technology Center (NECTEC): has the primary mandate to support research and development opportunities for electronics and computer technologies. It also provides a unique linkage between research communities and industries. Privileges, Incentives and Offers DEPA Fund including Digital Manpower Fund, Digital Manpower Executive, Digital Transformation Fund and Digital RDI Fund Startup Voucher Program - Fund for Thai startups (with not less than 51 percent Thai shareholders) - 2 periods of reimbursement for a maximum 75% of project costs (not exceeding 800,000 bath) NECTEC Research Unit and Laboratory - Artificial Intelligence Research Unit (AINRU) - Communications and Networks Research Unit (CNWRU) - Incentive program for innovation business development - Innovation project development and funding - Collaboration with True Digital Park to launch the Bangkok Cyber Tech District
  • 17. Investment Incentives 17 Group Activities CIT exemption Exemption of import duties on machinery Software A1 Embedded Software 8 years  A1 High Value Added Software 8 years  A3 Enterprise software and/or digital content 5 years  A3 Digital Services 5 years  B2 E-commerce - - Group Activities CIT exemption Exemption of import duties on machinery Industrial Zone or Technology Industrial Zone A1 Digital Park 8 years  A1 Data center 8 years  A1 Innovation Incubation Center 8 years  A1 Cloud Service 8 years  Digital Infrastructure A2 International High-speed Marine Communication Circuits 8 years  Industrial Zone or Technology Industrial Zone A3 Maker Space or Fabrication Laboratory 5 years  B1 Co-working Space -  Activities CIT exemption Exemption of import duties on machinery Targeted Core Technology Development Digital Technology Development 10 years  Technology and Innovation Service and Public Utilities The BOI offers a wide range of incentives for investment projects that meet national development objectives. The tax incentives include the exemption of corporate income tax, together with the exemption of import duty on machinery required for the project and on raw or essential materials used in manufacturing exported products. As for the non-tax incentives, the BOI also grants the permission to bring in expatriates, the permission to take or remit foreign currency abroad, and the permission to own land for use in the project. Creative Industry Group Activities CIT exemption Exemption of import duties on machinery A3 Industrial Zone for Motion Picture Production (Movie Town) 5 years  A3 Thai Motion Picture Production 5 years  A3 Motion Picture Support Services 5 years 