Rationale

The Capital Market Development Fund (CMDF) was established under the Securities and Exchange Act B.E. 2535, as amended by the Securities and Exchange Act (No. 6) B.E. 2562, to initiate capital market research studies and projects that contribute to the cohesive growth and competitiveness of various sectors within the capital market ecosystem.

Objectives and Expected Outcomes

Objectives

1. Promote organizational development and infrastructure services to enhance capital market competitiveness
2. Promote competency among capital market professionals, including those in charge of market oversight
3. Increase knowledge and understanding of the capital market, investment, and market development among investors, the general public, and relevant organizations
4. Promote the advancement of capital-market-related research, training, and academic work

Expected outcomes

1. Projects, research studies, and bodies of knowledge with broad implications for capital market development or capital market stakeholders
2. Projects and research studies that support the development of capital market organizations and infrastructures to increase capital market competitiveness
3. Capital market personnel have been trained and are capable of adapting to the rapidly changing business environment and digital landscape of the capital market
4. Investors, the general public, and related organizations gain knowledge and understanding of the capital market, saving, and investing through a variety of capital market tools
5. Projects, research studies, and capital market knowledge that provide tangible benefits with a practical implementation approach 

Grant Consideration and Selection Criteria

The project/research proposal must meet all of the following criteria:

Funding Amount

CMDF will consider providing funding according to the amount deemed appropriate by CMDF, based on each project/research study proposal.

Application Submission and Channels

1. Log in via the CMDF Grant Application System at https://granttrack.cmdf.or.th/login (For first-time applicants, please register as a member before logging in).
2. Fill out the grant application form thoroughly. The form requires detailed information about the project proposal, divided into nine sections:
   Section 1: General Information
   Section 2: Project Team Members’ Background Information
   Section 3: Responsible Organization
   Section 4: Project Details
   Section 5: Work Plan and Budget
   Section 6: Outputs and Impact
   Section 7: Value for Money and Sustainability Plan
   Section 8: Additional Information
   Section 9: Project Proposal Qualifications

3. After submitting the project proposal, the system will send the information to the selected project designated endorser in order.

   3.1 When an applicant submits a project proposal, if the designated endorser fails to submit a review result or rejects the proposal within 60 days, the system will automatically forward the project to the next designated endorser respectively. However, if a designated endorser determines that additional time is needed for consideration, they may request an extension.
   3.2 In the case that 2 out of 3 designated endorsers reject the proposal, the system will automatically terminate the project review process.
4. Once the project has been certified by the designated endorser, it will enter the grant consideration process.

Grant applicants must submit the grant application form and receive project/research endorsement approved by the designated endorser from July 1 to September 30, 2026. 

Grant Consideration and Selection Process

1. An applicant submits the project/research proposal in accordance with the criteria and within the application submission period specified in this announcement.
2. The screening committee appointed by the CMDF Board will conduct the initial screening and selection. The proponents whose proposals pass the initial screening will be invited to present their projects to the screening committee.
3. The CMDF Board will consider and select the grant recipient and will notify the recipient of the result of the consideration. The result will also be made public within 120 days of the application deadline. The decision made by the CMDF Board is final.

The CMDF reserves the right to reject project proposals/research studies submitted by unqualified individuals or proposals that are inconsistent with the criteria and conditions outlined in this announcement unless they are minor errors with no significant consequences.

Responsibilities of Grant Recipients

Grant recipients must:

1. Prepare a fund contract with the CMDF using the contract format specified by the CMDF, reimburse payments according to the operating period, and begin the project/research within the time frame specified in the contract; 
2. Maintain a separate account for the funds received from CMDF, distinct from the recipient’s regular operational accounts; and
3. Report on the progress of the project/research within the agreed-upon timeline.

The CMDF reserves the right to change the grant application details specified in this announcement, such as the application submission period and the consideration period, or to cancel this announcement without prior notice or explanation. The CMDF is not responsible for any costs incurred in preparing and submitting project proposals in response to this announcement, and the applicants acknowledge and agree not to seek compensation from the CMDF.