BOI Matching Fund: Essential Support for Startups in Thailand

The BOI Matching Fund is designed to provide financial assistance to startups in Thailand by matching investments from private investors. This fund aims to bridge the funding gap for early-stage startups, helping them scale their operations and bring innovative products and services to market. The fund size is expected to be THB 500 million, with the BOI matching up to 50% of the private investment.

1. Encourage Innovation: Support startups that are developing new technologies or innovative business models.

2. Boost Economic Growth: Promote the growth of new businesses to contribute to Thailand’s economic development.

3. Attract Foreign Investment: Encourage international investors to invest in Thai startups by providing a safety net through matching funds.

Startups that qualify for the BOI Matching Fund can enjoy several benefits, including:

Startups can receive substantial financial support, which can be pivotal in the early stages of development. This support can help cover various costs, including R&D, marketing, and operational expenses. For instance, if a startup secures a private investment of THB 2 million, the BOI will match it with an additional THB 2 million, providing a total of THB 4 million in funding.

Receiving funding from the BOI enhances a startup’s credibility. It signals to private investors and partners that the business has potential and is supported by a reputable government agency.

Startups benefiting from the BOI Matching Fund gain access to an extensive network of industry experts, mentors, and potential business partners, facilitating growth and expansion.

To be eligible for the BOI Matching Fund, startups must meet the following criteria:

1. Registered in Thailand: The startup must be a legally registered entity in Thailand. Learn more about how to register a company in Thailand.

2. Innovative Business Model: The business should demonstrate a unique and innovative product or service offering.

3. Growth Potential: The startup must show potential for significant growth and scalability.

4. Private Investment: There must be a commitment from private investors, as the BOI fund is designed to match these investments.

The BOI Matching Fund primarily focuses on startups in high-growth sectors, including:

The application process for the BOI Matching Fund is straightforward but requires thorough preparation. Here’s a step-by-step guide:

1. Prepare Your Business Plan: Develop a comprehensive business plan that outlines your startup’s vision, market analysis, growth strategy, and financial projections. Include how the BOI funds will be utilized to achieve your objectives.

2. Secure Private Investment: Obtain a commitment from private investors. The BOI will match the amount raised from these investors.

3. Submit an Application: Visit the BOI website to access the application form. Fill out the form with accurate and detailed information about your startup.

4. Provide Supporting Documents: Attach all necessary documents, including your business registration, financial statements, and investor commitment letters. To ensure your documents are in order, our corporate secretary services can provide the necessary support.

5. Await Evaluation: The BOI will evaluate your application based on several criteria, including the innovation of your business model, growth potential, and the amount of private investment secured.

6. Receive Funding: If approved, the BOI will disburse the matching funds to your startup.

Registering a startup in Thailand involves several critical steps. Here’s a comprehensive guide:

1. Choose a Business Structure: Select the appropriate business structure, such as a limited company or a representative office. For more details, visit our page on Company Registration in Thailand.

2. Register with the DBD: Register your business with the Department of Business Development (DBD).

3. Apply for BOI Promotion: Submit an application for BOI promotion to access various incentives. Learn more about BOI Promotion in Thailand.

4. Obtain Necessary Licenses: Secure all required business licenses and permits.

5. Tax Registration: Register for taxes and ensure compliance with Thai tax regulations. Visit our Accounting and Tax Services page for more information.

Understanding the process of company registration in Thailand is crucial for startups looking to apply for the BOI Matching Fund. Our experts at Themis Partner can guide you through the registration process, ensuring compliance with all legal requirements.

Understanding the financial details and success rates is crucial for planning.

• Funding Amount: Up to 50% matching of the startup’s investment.
• Fund Size: THB 500 million.
• Success Rate: The success rate of applications is around 30-40%, based on previous initiatives.
• Approval Timeframe: The review and approval process typically takes between 3 to 6 months.

The BOI Matching Fund presents a remarkable opportunity for startups in Thailand to secure essential funding and support for their growth. By providing matching funds, the BOI is not only fostering innovation but also boosting economic development and attracting foreign investment.

For more information and assistance with registering your startup in Thailand, navigating BOI incentives, or any other business needs, contact us today. Our team of experts is here to help you every step of the way.