Thailand unicorn may appear by year-end 2021

Alex Chen, Taipei; Joseph Tsai, DIGITIMES Asia 0

Because of the coronavirus pandemic, investors in Thailand have turned their investment targets to enterprises in the stage of growth, resulting in a reduction in number of loans to startups in 2020 to 30 from 2019's 41, but the overall investment amount still went up from US$109 million in 2019 to US$364 million in 2020, according to a report by Techsauce.

Techsauce CEO Oranuch Lerdsuwankij believes Thailand will have its first unicorn startup by the end of 2021 and it may stimulate more entrepreneurs to form startups for Thailand's food/agriculture, health technology and education industries.

Thailand's startups have obtained a total of US$845 million in investments since 2012 and the pandemic has caused several startups devoted to developing technologies for tourism to suffer from serious losses.