Money help drives billion-baht earnings
PUBLISHED: 19 Nov 2024 at 10: 05
To help tech companies expand their start-up businesses for the upcoming season, the Ministry of Higher Education, Science, Research, and Innovation announced an increase of nearly 20 % of its tech account.
To honor its efforts to support emerging entrepreneurs by allowing them to incorporate research and innovations into commercial ventures, the ministry’s Technology and Innovation-Based Enterprise Development Fund ( TED Fund ) recently hosted TED Fund Grant Day 2024.
Supachai Pathumnakul, the agency’s permanent secretary and TED Fund chair, emphasised the agency’s commitment to fostering the market’s green self-reliance and profitability.
He said the department assigned the TED Fund to deliver students, recent graduates, and business companies with access to government money, allowing them to commercialise their research and innovations.
Prof Supachai said the shift aligns with the president’s medium-term and long-term plans for advancing the modern economy.
In 2024, the TED Fund has supported 264 jobs statewide with over 232 million ringgit in cash.
” TED Fund’s financial aid is not concentrated only in the country’s heart but is distributed across all areas”, said Prof Supachai.
Tipawan Vetchakarunyakorn, a director of TED Fund, mentioned the bank’s key initiative efforts for this year, including Startups for Startups, supporting startups with up to 2 million baht of money, and TED Youth Startup, which supports young entrepreneurs through funding programs like TED Youth Startup’s Ideation Incentive Programme and TED Market Scaling Up, which aid businesses ‘ domestic and international expansion.
The TED Fund’s aim for the next year is to support another 270 projects in 13 innovative sectors, with a budget of over 273 million baht, a 17.6 % increase.
According to Ms. Tipawan, the TED Fund’s investment in tech entrepreneurs this year has led to more than a billion baht being made for social and economic improvement initiatives.