Directions of Government Policy toward Startup Business Development for Thailand 4.0
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Abstract
The purpose of this article is to investigate the startup business development stages and to study government promotional measures on startup business development based on Thailand 4.0 policy through a method of collecting data from related researches and government related documents. The data analysis reveals that there are 4 stages of the startup business development, which include (1) idea stage: the stage of developing ideas and transforming them into products or services, (2) market testing stage: the stage of conducting product tryout with different markets and bringing back the outcomes for product development to be in line with market needs, (3) growth stage: the stage of business and market expansions, attracting investors and teamwork to accelerate the business growth, and (4) harvest stage: the stage of transforming from a startup business into a complete business organization, the period of maturity and readiness for exit. Currently, Thai government agencies have imposed the promotional measures for each startup business development stages. Stage one and stage two include various measures on creating entrepreneurs and developing digital manpower; research encouragement and development; innovation district development; organizing private equity funds; registration of patent intellectual property; knowledge training in regard to intellectual property legislations as well as transforming the intellectual property into a capital. Stage three is the stage which government agencies establish different measures to boost on market expansion; to access financial sources of low interest rate; to provide privilege on taxes as well as to create startup business data base. Stage four is the one where government agencies establish additional measures to promote product brands and Thai services to the global market as well as to develop a capital market. All aforesaid supporting measures are consistent with the 20 year national strategy (B.E. 2560-2579) which is the country development plan aimed to achieve the vision of “Thailand: stability, prosperity and sustainability”.
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