Factors Influencing Tech-Focused Government Agency in Funding Tech Start-ups: The Evidence from Thailand

Abstract

This study aims to analyze factors that influence tech-focused government agencies’ decision-making process to evaluate tech start-ups for supporting funds. The conceptual framework was based on qualitative research principles from in-depth interviews with seven tech-focused government agencies and confirmed the factors used in their decision-making processes. It was confirmed that the main factors consist of entrepreneurship characteristics, product/service characteristics, market characteristics, financial consideration, and capability of the management team. Furthermore, our findings revealed additional factors that influence tech-focused government agencies’ decision-making process, namely technology and innovation, business potential, and personnel and team.