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5 Oct 2016

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Thai Digital Startups Venturing into other Businesses… JVs with Large Corporations Needed to Earn Success (Current Issue No. 2783)

คะแนนเฉลี่ย
Currently, new digital startups in Thailand are thriving amid the proliferation of their numbers and types of businesses they have been ventured into from predominantly E-commerce before. A survey conducted by KResearch shows that the top three most popular digital startups focus on consumer lifestyles, FinTech and online enterprise management software services, accounting for 32 percent, 22.7 percent and 16 percent, respectively, of the total digital startups in Thailand. KResearch expects that these three types of business will become more popular with consumers or users over the coming 1-2 years.
KResearch attributes their rising shares to three key factors: 1) the ability of startups to improve their digital platforms to better meet the needs of Thai consumers in the new digital era; 2) efforts by relevant Thai public and private sector agencies in creating an ecosystem or environment that is conducive to the digital business; and 3) the creation of new business models that are better integrated with targeted industries through the synthesis and analysis of big data.
However, digital startups here are in their infancy and need to develop an appropriate business environment within which to spur new ideas. In addition, digital startups are exiting the market faster than new startups appear and become successful because many such businesses were started by relatively young entrepreneurs with little business experience and perhaps insufficient capital, thus making it difficult for them to advance new ideas into long-term business success.

Given this, we at KResearch are of the view that if digital startups with new, creative ideas are able to enter into joint ventures (JV) or similar business cooperation with larger companies, they will likely be more successful because large businesses are better equipped with finances and human resources, as well as having significant customer databases and numerous business partners.

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