Thai Deep Tech Startups Flourish, Generating Over 965M Baht Economic Value

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In a remarkable boost to Thailand's economy, the Higher Education Ministry’s Programme Management Unit for Competitiveness (PMUC) has nurtured more than 90 deep tech startups, yielding an economic benefit of over 965 million baht. By leveraging cutting-edge university research to commercialise innovative products, the PMUC plays a pivotal role in invigorating the national economy.

 

Under the stewardship of Director Thongchai Suwansichon, the PMUC has successfully linked academic research with industry, transforming groundbreaking science and technology into market-ready products. Their efforts were showcased this week at the PMUC CONNECT event, which seeks to align these startups with investors, propelling them towards international markets.

 

Over the past five years, the PMUC has channelled 250 million baht towards collaborations with nine universities and agencies, resulting in twelve deep science and technology accelerator programmes. These initiatives support early-stage startups in transitioning their research innovations from theory to commercial reality.

 

Deep tech startups are at the forefront of Thailand’s economic expansion, exploiting advanced science and technology to develop pivotal products and services. The PMUC facilitates business matches, connecting university researchers with investors, fostering an environment ripe for innovation and economic development.

 

By the 2025 fiscal year, the PMUC aims to expand its accelerator programmes globally, forging links with foreign embassies and international partners in regions such as Singapore, Sweden, the UK, and Hong Kong. This global reach intends to open new market and regulatory opportunities for Thai startups.

 

Furthermore, the PMUC is enhancing its strategy by training university executives to morph researchers into chief technology officers, thus reinforcing the entrepreneurial ecosystem. Notably, ModGut Co, an entity within the PMUC's accelerator, develops solutions for analysing gut microbiota. The startup is currently negotiating Series A funding to expand its influence across Southeast Asia and potentially into Western markets.

 

The PMUC's initiatives not only spotlight Thailand’s rising deep tech sector but also underline the global potential of innovative Thai startups ready to make their mark on the world stage.

 

File photo for reference only

 

-- 2024-10-24