Built in Thailand, funded in Singapore, as startups gravitate to city-state
The kingdom is pouring billions into its digital future, but without strong startup support, it is the Republic that is reaping the rewards
[BANGKOK] In October 2026, Thailand will host the World Bank and International Monetary Fund annual meetings, with digital transformation expected to take centre stage. But even as the country readies for its time in the global spotlight, it is hard to ignore a key gap – its own lacklustre startup ecosystem.
Thailand has made big strides in building its digital infrastructure. As at the first quarter of 2025, 70 data centres have been approved, alongside heavy investments in cloud computing, nationwide 5G coverage, and booming digital commerce, with e-commerce transactions reaching six trillion baht (S$237.5 billion) and e-payments hitting eight trillion baht in 2024.
Yet despite these promising numbers, the country continues to lag regional peers in critical areas such as information and communications technology manufacturing, digital services, and, most notably, venture capital (VC) funding for startups, according to the World Bank’s latest Thailand Economic Monitor.
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