Mr. Nitid Manoonporn, President of TCG, together with Dr. Narong Sirilertworakul, President of NSTDA, announced progress in promoting technology-based/innovative SMEs through the use of Thailand Technology Rating System, or TTRS, at INC 2 Building, National Science and Technology Development Agency, Thailand Science Park (TSP), on 7 February 2018.
TTRS was developed on the basis of KTRS, a distinctive technology rating system of the Korea Technology Finance Corporation (KOTEC). KTRS has earned world-wide recognition as a good practice and its excellence has been verified through its contribution to supporting innovative SMEs in Korea. “KTRS has been instrumental in supporting innovative SMEs as it is a proven successful technology rating tool that has been recognized as a good practice by renowned institutions in many countries” said by Dr. Narong and Mr. Nitid.
TCG plans to launch a new credit guarantee product with TTRS worth Baht 500 million for technology-based/innovative SMEs. Currently TCG is under discussion with financial institutions that are interested in joining this scheme before proposing the draft guarantee product to the Ministry of Finance for approval. This new product is expected to be launched during the second or third quarter of this year with anticipated 50 SMEs applying for the scheme.
The success of setting up technology guarantee scheme with TTRS model was attributable to close collaboration between Thai government and Korean government, an opportunity provided by the Knowledge Sharing Program (KSP) of the latter. Under the program, TCG and NSTDA worked closely with KOTEC, which showed sincere commitment in sharing with Thai experts valuable knowledge and experiences in helping the SMEs in this segment to get access to finance. Over 2 years of KSP implementation, the program has enabled Thailand to develop the TTRS that could effectively identify and facilitate promising technology-based/innovative SMEs with access to funding sources, which will
consequently help to enhance economic value of Thailand. TCG and NSTDA expect to have a continued cooperation among TCG, NSTDA, and KOTEC for the purpose of promoting and supporting technology-based/innovative SMEs of the 2 countries in the future.