Paul Polapat Arkkrapridi, Managing Director, Corporate Venture Capital of Digital Ventures was among the speakers at the Techsauce Global Summit 2017 held during July 28-29, 2017. Paul shared a topic titled “Around the World in 30 Ecosystems: A Global Comparison of Startup Ecosystems“, together with Paul Papadimitriou, Founder of Intelligencr, renowned innovation scouter from Tokyo. Today, we summarized the main ideas to shade light on the world’s startup ecosystem share in this single session.
What are the basic infrastructures that will sustain startups development?
Nurturing the startup ecosystem. This consists of several basic factors as follow:
- Co-operation with Academy – Building a startup ecosystem begins at an education level. Schools need to groom individuals with the knowledge and skills capable of building an ecosystem in the future. Therefore, the business sector must collaborate with the education sector to deliver sufficient scholars in various fields to support the increasing demand of the businesses.
- Government – A majority of remarkable startup ecosystems in the world usually involves the government. However, the limitation of government involvement and support shall be present to avoid extreme sanctions. A good example is in Israel wherein the startup ecosystem is about 15 years old and has received full support from the government.
- Media – Media plays a significant role. Media who understands the business and know-how of startups will enhance information transfer, build networks, and attract talents into a community to support businesses in the future.
These are only the basic elements in building a startup ecosystem. There are other aspects that contribute to a startup ecosystem which may differ in different countries.
What about Thailand’s startup ecosystem?
Paul mentions that the startup ecosystem in Thailand is only in its beginning stage. Looking back, the ecosystem only began in 2012, therefore, when compared to the first Ipad in 2010, the startup ecosystem is even younger than the Ipad! However, although Thailand’s startup ecosystem is still in the initial phase, numerous parties have contributed to its growth and it is gradually improving.
“The startup ecosystem in Thailand is in its initial phase. We need to be patient as there will be more experiments and developments. However, I am sure that we are on the right path.” - Paul Polapat Arkkrapridi, Managing Director, Corporate Venture Capital of Digital Ventures.
Towards the end of the session, Paul mentioned that there are various nationalities residing in Thailand with businessmen from all over the world. Therefore, he prefers the idea that startup ecosystem development is not only limited to Thais. If everyone pitches in, it will surely boost the startup ecosystem in Thailand.
This is among the many sessions from the Techsauce Global Summit 2017 where Digital Ventures had the opportunity to participate. We still have more great ideas from world Fintech influencers who shared their perspectives. Visit the Digital Ventures Blog soon to learn more.