Getting Ready for Business: Firming Up Thailand’s Startup Ecosystem

Hanno Stegmann Benjamin Fingerle Johannes von Rohr Wing Vasiksiri

Thailand, the second-largest economy in Southeast Asia, is poised to reclaim attention in the startup landscape. While currently boasting approximately 180 funded startups, a modest figure compared to other ASEAN-6 nations, Thailand's economic stature hints at vast untapped opportunities. The impending boost comes from a strategic shift in investment focus, prioritizing rapid profitability, complemented by government initiatives fostering a digital economy. This dynamic combination is set to propel Thailand's startup ecosystem into accelerated growth, particularly in sectors like Industry 4.0, Software, Fintech, B2B Marketplaces, and Climate Tech. As the landscape evolves, Thailand emerges as a compelling hub for innovation and entrepreneurial success.

This report by BCG and BCG X – produced in collaboration with Alpha Founders Capital and WV, with Tech in Asia as our Knowledge and Data Partner – provides an in-depth analysis of Thailand's startup environment, encompassing a macroeconomic overview, selected startup case studies, and insights into the country's most promising investment opportunities.