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The National Science and Technology Development Agency (NSTDA) has signed a memorandum of understanding (MoU) with The Stock Exchange of Thailand (SET) to promote and support SMEs and startups to appropriately apply technology and innovation in business operations. The partnership initiative aims to increase management efficiency and streamline business operations through key organizational management systems such as accounting, finance, and enterprise resource planning (ERP), as well as to give entrepreneurs opportunities to access NSTDA research projects for business expansion, new business creation, while increasing competitiveness and boosting growth potential readiness via capital market mechanism.
NSTDA President Narong Sirilertworakul said that NSTDA is committed to driving Thailand’s stability and prosperity on the global economic arena by leveraging expertise in science, technology and innovation (STI) to effectively enhance entrepreneurs’ competitiveness in manufacturing, services and trade. Operated by the Technology Management Center (TMC), NSTDA has offered services by applying STI to over 12,000 entrepreneurs in product development and manufacturing efficiency through the Innovation Technology Assistance Program (ITAP) that provides advisory and financial assistance to entrepreneurs in each industry.
To achieve exponential and sustainable growth, it is necessary to have integrated cooperation of public and private sectors in alliance with specialists to push SMEs and startups to transform their businesses across the board to become more competitive with proper digital technology and get ready to enter into the capital market in the future.
“In this partnership initiative, NSTDA will provide the budgetary support and highly skilled digital experts under the ITAP program,” said Narong.
SET President Pakorn Peetathawatchai said that SET continues to focus on the development of SMEs and startups through knowledge and business skills sharing. Notably, SET has enabled the entrepreneurs to capture growth opportunity and access capital market mechanism via proprietary LiVE platform. Operated by SET’s subsidiary, Live Fin Corp Co., Ltd. as a transformation partner, LiVE platform has been designed to step up the growth journey of SMEs and startups, from initially providing fundamental knowledge of entrepreneurship to more in-depth know-how, and then moving on to strengthen key business processes equipped with growth opportunity via capital market mechanism.
This collaboration with NSTDA will help SMEs and startups under SET’s LiVE platform to adopt and apply digital technology and innovation to their businesses. LiVE platform will be a center of ERP system provider comprising a key and fully integrated system within the organization, such as accounting, finance, and business resources. This will serve the needs of SMEs and startups that are building strong foundation and stand ready for business expansion. Moreover, LiVE platform will also enable entrepreneurs to access NSTDA data and research to grow their businesses or diversify new investments. The selected entrepreneurs are eligible to use ERP services, starting from 2021 onwards.”
For more information about this program, SMEs and startups can visit www.live-platforms.com or contact@live-platforms.com .
