The National Innovation Agency (NIA) of Thailand and True Digital Park have partnered to launch the Bangkok CyberTech District – an innovation district based in the Punnawithi area of Bangkok. The center is designed to provide a startup ecosystem for both domestic and international startups, particularly those focusing on IoT, big data analytics, AI and machine learning, e-commerce, creative content, gaming, FinTech, AgriTech, and HealthTech. The government plans to provide one-stop service centers within the district to support corporates and startups and to provide services for foreign investors to Thailand. The agency expects to invite around 50 international startups per year to set up base in Thailand.
“Bangkok CyberTech District will bring together capital, knowledge and talents to help businesses thrive and be able to compete globally. At Bangkok CyberTech District in Punnawithi zone, corporates and startups will be exposed to amazing talents and inspiring figures from around the globe to foster knowledge-sharing and digital innovation within an ideal environment. We are certain that this designated area will be a game-changer for Thailand’s economy and become a world’s center for digital innovation,” Mr. Thanasorn Jaidee, president of True Digital Park, said.
The NIA is also working with the Thailand Board of Investment (BOI) and True Digital Park to establish the Startup Thailand Center within the District. The center will provide services, benefits, and facilities to attract international businesses, including co-working space, event space, private offices, and a special platform to promote and support new startups.
Dr. Suwit Maesincee, Minister of Science and Technology, said, “As the pace of technology accelerates and global startup rates are surging, the National Innovation Agency under Ministry of Science and Technology of Thailand has been establishing pilot innovation districts in Bangkok and other provinces across the country. These districts are aimed at creating technology-centric ecosystems that offer startup firms full support on business administrative aspects and clustering them to facilitate long-term economic development and productivity. The NIA, as assigned by the ministry, will take responsibility for implementing a strategic plan to promote the area-based innovation that contributes to economic growth through solutions and new opportunities that allow startups to better compete in the global market, and forge partnerships with private sectors for several projects that help improve the country’s competitiveness.”