Thailand: DEPA Fund to Help Startups Protecting Their Trademark
This year, an intellectual property fund will be established by the Digital Economy Promotion Agency (DEPA) in Thailand. The aim of this fund is to help startups active on the digital market to register their creation.
DEPA will collaborate directly with the Department of Intellectual Property (DIP) to provide this fund which will help the startup by subsiding 50% of the costs of IP registrations. For the DEPA president Mr. Nuttapon Nimmanphatcharin it is important to encourage local startups to protect their innovation in order to promote digital innovation and to compete in the market with protection.
Moreover, DEPA has been mandated by the government to promote tech startups and to improve Thailand competitiveness. Regarding this matter, a memorandum of understanding was signed in April and the DEPA has invested 100 million baht in developing startups over 2017. 20 new tech startups are expected by the end of 2018.
The fund will be split into four in order to provide the most efficient assistance to start-ups. Firstly, it will help startup with idea to make real and efficient business model. Secondly, to assist startups to build real business and set up their company. Thirdly, the fund will help set up company to expand their business and invest. Lastly, the rest of the fund will be given to promote digital environment. [Source: Bangkok Post]Contact us