Bangkok, April 21, 2014 ? The SEC jointly with the National Science and Technology Development Agency (NSTDA), the Stock Exchange of Thailand (SET), the Thai Business Incubators and Science Parks Association (Thai-BISPA), the Thai Venture Capital Association (TVCA), the Investment Banking Club, participating approved auditors and the National Federation of Thai Film Associations (NFTFA) co-announced the launch of ?The Pride in Thai Innovative and Creative Businesses? Project, aiming to promote raising fund through capital market for innovative and creative businesses. The application period will last until July 31, 2014.
The Project was launched to raise awareness and accessibility to capital market among business operators in areas of research, development, science, technology and innovation as well as local wisdom, art and culture or creativity based businesses, such as alternative energy, software, movies, contents and animation industries. Knowledge on fund raising and required preparation will support participants to combine ?science? and ?art? in creation of value added products and services, and will become a key economic driver.
Vorapol Socatiyanurak, SEC Secretary-General, said that ?The Project has been initiated under the SEC?s strategic plans aiming to reach out to targeted business sectors, in particular to enable access to capital market for science and creative-based businesses in which Thailand has comparative advantage. Providing an enabling condition that encourages growth of the said businesses will certainly help them to play the key role in adding value to products and services and driving changes in Thai economic fundamentals into a value creation and eventually into a high-income economy.?
Thaweesak Koanantakool, President of NSTDA, said that ?Science and technology are essential for economic development and sustainability. Applying science to Thailand?s resource abundance and biological diversity will bring about better quality of life and economic sustainable development. This public-private collaboration will generate business opportunity to access the capital market and improve management quality and thus to support a role of science and technology in economic and social development.?
Chanit Charnchainarong, Vice President of SET, said that ?Innovation and creativity contribute to competitive advantage and business opportunity. For years, the SET and mai have placed priority on promoting business potential and fund access in the capital market. The Project will help support and prepare businesses to raise fund, and the SET is willing to cooperate and give support.?
Suwipa Wanasathop, President of Thai-BISPA, said that ?Thai-BISPA and network of 30 business incubators and science parks across the country determine to develop and support science and creative-based businesses combining science and technology with creativity to deliver high quality and outstanding products or services. Joining with alliances in this Project will enhance opportunity for those businesses to access funding source and promote good corporate governance in Thai businesses in preparation for future fund raising.?
Vorasit Pokachaiyapat, President of TVCA, said that ?Innovation and creativity bring us new businesses, products and services or production processes. Businesses operating amid increasingly fierce competition need innovation and creativity to increase incomes and profits, a primacy of investment of investors.?
Norachet Sangruji, Chairman of Investment Banking Club, said that ?Innovation and creativity are at present among pillars sustaining the country?s competitiveness. Therefore, furnishing workable capital structures for innovative and creative businesses can foster such businesses to become flourish and sustainable. As financial advisors, members of the Club are ready to give support and advice on business restructuring, and fund raising. It will help enhance business potential in developing innovative products, which will eventually back the country?s economic strength and provide more attractive investment choices.?
Weerasak Kowsurat, Secretary-General of NFTFA, said that ?The NFTFA is very pleased to see the SEC initiative to welcome ?creative industry? to the capital market; the initiative itself could be regarded as an innovation. The latest research indicates that total income of film industry totaled 26,992 million baht while those of music and karaoke industry and game industry reached 12,397 million baht and 32,499 million baht, respectively. For animation industry, it marked a starting point for success with total income of 5,623 million baht, definitely with high growth potential in the future. In an era of digital TVs and 3G to 4G transformation, the importance of these industries will become even more eminent.?
?The Pride in Thai Innovative and Creative Businesses? Project focuses on companies having specified core businesses with value creation or value-added products and services, and incorporated not less than two years. They are required to have either a paid-up registered capital with shareholders? equities not less than 20 million baht or have profit or retain earnings in the latest fiscal financial statements. Qualified business operators in areas of research, development, science, technology and innovation as well as local wisdom, art and culture or creativity based businesses, will enjoy various privileges; for example, join training courses on capital market, obtain advice for going public, and exchange business perspectives with venture capital businesses. In addition, IPO application fee and application fee for listing shares on the bourse will be waived, if submitting IPO and listing applications within 2015. Other privileges from other alliances might be included.
Interested business operators can seek further details of the Project and download application form at www.sec.or.th or call for information at tel. 1207 ext. 2. Application forms can now be submitted at the SEC without any expenses from now until July 31, 2014.