Thailand plans to grow 10,000 new startups by 2027
Thailand's 10,000 startup project aims to nurture innovative startups in key sectors like agriculture and health by the end of 2027, according to a report from Nikkei Asia. Under the plan, the government will provide financial and technical support to help startups grow and expand.
The project is part of a larger effort to promote innovation and entrepreneurship in the country, with the goal of boosting economic growth and creating jobs. If successful, the 10,000 startup project could have a transformative impact on Thailand's economy and society.
Thailand's healthcare sector is attracting a growing number of HealthTech startups, with about 270 HealthTech, including Salary Hero, Advanced Buteyko, Ooca, HD, and HonestDocs, per Tracxn data. These startups are developing innovative solutions to improve access to healthcare, lower costs, and improve patient outcomes.
Despite having a large agricultural population, Thailand has a surprisingly small number of AgTech startups. According to the NIA survey, there are only 53 AgTech startups in the country, which is a fraction of the number of startups in other sectors. The coming in of new agricultural startups will definitely help change the way agriculture helps farmers in the future.
While the new startups in the 10,000 startup project may have the potential to disrupt the agriculture and healthcare sectors, they will face tough competition from existing players.
These new startups will need to find ways to differentiate themselves and offer unique value to succeed in this competitive environment.
