Page 330 - Social Enterprise A New Business Paradigm for Thailand

partnership with local administrative organizations (LAOs). This would help raise
awareness of social enterprises within local governments. The system could apply to
both product and service procurement, for example, early childhood care, drug

rehabilitation services, palliative care for the elderly, maintenance of public buildings
and parks, and pollution monitoring for companies across various sectors. The initiative
should begin with pilot projects that can be scaled up over time.
▪ Support the integration of social enterprise education into LAO-operated schools by
enabling social enterprises to deliver both academic instruction and hands-on project-
based learning. Schools with exemplary business models should be eligible for monetary
awards that help them launch operational ventures.
▪ Implement incubation programs for legal entities with annual revenues under 5 million
baht and for organizations already engaged in social activities. These initiatives would
prepare such entities for formal social enterprise registration and provide them with

initial seed funding. Entities that meet performance benchmarks could receive follow-
up funding for an additional three years. Social enterprises should be classified by
potential (tiers), such as investment size, to facilitate targeted incubation and foster
transparent, publicly visible competition within each tier. In addition to capacity-based
tiering, groups may also be classified by experience level, for example, newcomers
operating for less than three years versus those with clear business plans and early-
stage financial sustainability.

▪ Develop a centralized portal website to enhance the visibility of social enterprises
among government agencies, clients, and consumers.
▪ Organize an annual “Buy Social” marketplace to allow social enterprises to exhibit their
work, set up vendor booths, and exchange knowledge with fellow entrepreneurs. This
event could be hosted in conjunction with trade fairs organized by the Ministry of
Commerce or alongside the annual conference of the Municipal League of Thailand.

3. The Ministry of Finance could assume a more active role through the following measures:

▪ Review the use of existing legally established funds to support the creation of a Social
Innovation Fund. This could involve reevaluating how dormant assets, such as

unclaimed bank deposits, insurance reserves, and scattered funds held by private-sector
institutions, are utilized. These assets could serve as initial funding for a Social
Innovation Fund aimed at developing products and services for limited or undeveloped
markets. Examples include insurance products tailored to motorcycle taxi drivers and
delivery riders; crowdfunding platforms to support emergency rescue operations; and
online marketplaces for artwork, crafts, and recycled goods produced by persons with
disabilities, older adults, and marginalized communities.

▪ Consider co-investing with professional associations and private-sector organizations.
For instance, partner with the Federation of Thai Industries to support climate-focused
startups; the Thai Bankers’ Association to launch initiatives addressing household debt;

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