A trading board for startup shares is expected to be established in a few years to support Thailand's path to becoming a startup nation, says Deputy Prime Minister Somkid Jatusripitak.
Startups are not qualified to list on the main board of the Stock Exchange of Thailand (SET), so an exclusive trading board is necessary to provide funding access in the fast-paced startup environment, Mr Somkid told the audience at a seminar titled "GSB Smart SMEs Smart Start Up 2018".
Startups should create many jobs in the economy, he said. The country must adopt 5G within two years to move towards a digital economy and the goal of becoming a startup nation.
If Thailand supports a large number of startups, the country's economy will grow exponentially, not linearly, Mr Somkid said.
"Take Israel and China as examples. Israel is a small country located in a desert area, but its economy is advanced, thanks to its support for startups," he said.
Like Israel, China's economy grows at a fast pace and supports startups.
The SET in May unveiled Live, a platform for startup trading based on blockchain technology.
The fund-raising platform for startups was a result of instructions from Mr Somkid, who said the SET should consider offering a venue for startup fund-raising and venture capital exits.
He said it's unnecessary for Thai startups to be set up strictly by the young or for high-tech activity.
Given that Thailand differs from other economies, local startups could be in the agricultural or tourism sectors, Mr Somkid said.
"The Thai economy could not expand at full throttle if we had only a few large companies," he said. "You cannot have a forest if there are a handful of big trees. Forests must comprise both small and large trees to create moisture for the soil. Like abundant forests, small and big firms will make the economy prosperous and create more jobs."