Start-Up Accelerators and Crowdfunding to Drive Innovation Development

Abstract

This article attempts to study the mechanisms of start-up accelerators and crowdfunding to support entrepreneurial development in Thailand. In particular, the study explores the major accelerator programs to support innovation commercialization and the start-up eco-innovation system. The results show the problems of a weak triple helix system: The interactions among universities, industry and government are not strong enough to drive effective technology commercialization. Arguably, the accelerator program should act as an intermediary among the institutional spheres to provide interactive linkages and promote effective utilization of research results. The empirical study provides insightful implications on the move toward Thailand 4.0 and the lessons Thailand can offer on stimulating entrepreneurial development that can be applied to other developing economies.

TOPICS: Emerging markets, private equity, factor-based models

Key Findings

• • The Thai government has established the start-up eco-innovation system so as to transition to a new economic model of Thailand 4.0.

• • The Thai government has adopted the US model in building the start-up eco-innovation system.

• • The effective start-up eco-innovation system in Cambridge, USA is mainly fueled by strong Triple Helix interactions.