The Stock Exchange of Thailand (SET) aims to develop the capital market for the benefit of all sectors, including new opportunities for startup entrepreneurs. To create a complete startup ecosystem, SET’s latest initiative and first-of-its-kind, platform named "LIVE" is the first trading market place for startups in Thailand unveiled at Startup Thailand annual event during July 6–9 organized by the National Innovation Agency (NIA), Ministry of Science and Technology, and other related government agencies. The event is at Queen Sirikit National Convention Center, Bangkok. “LIVE” will be ready to operate, after the SEC’s approval, in the third quarter of 2017.
SET President Kesara Manchusree stated that SET is focused on developing the capital market to benefit all sectors of the economy under the SET vision "To Make the Capital Market 'Work' for Everyone". SET promotes the quality growth of businesses of all sizes: large, medium and small. It has in the past few years reached out to the “startups” entrepreneurial group with clear strategy to create comprehensive infrastructure of startup ecosystem. This consists of the systematic sharing of knowledge and experience in business management and how to mobilize capital for further business growth via specific training for entrepreneurs, including other knowledge-based materials. In addition, SET has also invested in trust funds, jointly with the Government Savings Bank and Krung Thai Bank, to provide innovative entrepreneurs with working capital to grow their business ventures. Moreover, SET has also developed a proprietary new platform named “LIVE” for startups to access capital funding, which will be introduced for the first time at Startup Thailand.
Simultaneously at this event, SET will be signing a memorandum of understanding with government agencies and private sector to jointly enhance the rules and regulations of operating business via the Sharing Economy, finding ways to set up testing center and boosting cutting-edge innovation for startups. The initiative will mainly be operated by the National Startup Committee.
”Today the new generation of entrepreneurs has keen interest in startups, seemingly a global trend. Bright, new fresh ideas and innovations have been generated, tech or non-tech, with larger impact and benefit, creating major changes in the current business environment. In Thailand, startups will be another key mechanism to propel the nation's economy into the new era of Thailand 4.0. Truly realizing its significance, SET will share expertise and exchange views as well at the Startup Thailand seminar under the topic “Asia Capital Market: Driving Force for Startups”, together with top stock exchange executives from Japan and Korea with extensive experience in promoting access to funding sources for startup entrepreneurs,” added Kesara.
‘LIVE’ platfrom is the first trading market for startups and SMEs in Thailand, with the support of the National Startup Committee. The ‘LIVE’ platform will be operated by LiveFIN Corp, Ltd., having 99.99% of its shares held by SET. LIVE platform has been developed to facilitate startup entrepreneurs to access working capital via fundraising and boost trading liquidity, while strengthening business growth in the future.
LIVE Platform has applied and is waiting for a business license from the Securities and Exchange Commission (SEC) and will be ready to begin its operation in Q3/2017. For more information, please visit: www.set.or.th
