FTI to help startups, SMEs with fundraising

The Federation of Thai Industries (FTI) is preparing to help its startup and small and medium-sized enterprise (SME) members raise funds in the capital market to help support the development of their businesses.

FTI is working with the Stock Exchange of Thailand (SET) and KPMG in Thailand to help companies raise funds through the LiVE Exchange platform.

“We set up a market for SMEs and startups called LiVE Exchange as a new fundraising channel for entrepreneurs. This platform also provides an investment alternative to investors,” said Pakorn Peetathawatchai, president of the SET.

The development of LiVE Exchange is based on a concept of light-touch supervision, making it easier for SMEs and startups to raise funds in the capital market. LiVE Exchange is expected to launch at the end of this year.

The FTI expects more than 100 SMEs and startups will take part in fundraising via the new platform this year.

Some 80% of 13,000 entrepreneurs who are members of the FTI are operators of SMEs and startups, said Supant Mongkolsuthree, chairman of the FTI.

“FTI members with a high potential to raise funds in the capital market are in healthcare, food and cosmetics sectors,” he said.

The LiVE Exchange will increase the opportunity for SMEs and startups as they will have funds to support their growth.

Mr Supant said more than 50% of companies which already raised funds in the capital market are FTI members.

Charoen Phosamritlert, chief executive of KPMG in Thailand, Myanmar and Laos, said KPMG in Thailand is well equipped with experts who can help SMEs and startups deal with fundraising issues.

The company, which provides advice on audit and assurance, tax and business laws, has access to a network of knowledge, technology and experts worldwide.

“We hope this initiative will play a part in sustainably helping develop and strengthen the Thai economy,” he said.