Mr. Uttama Savanayana, Industry Minister, announced an establishment of InnoSpace (Thailand) Company Limited, a public-private joint venture to serve as a national platform supporting new startups, and invited NSTDA to serve as a shareholder and partner of this new venture.

InnoSpace (Thailand) will have a mechanism to incubate and develop startups at all stages and in every target industry in order to enhance their competitiveness and enter international market. This will be achieved through connecting startups with venture capital and providing access to expertise in government agencies and private entities in Thailand and abroad.

This 500-million-baht venture will be co-invested by leading conglomerates in Thailand, namely Bangkok Bank PCL, Thai Beverage PLC, Siam Cement PLC, PTT PLC, True Corporation PLC and Charoen Pokphand Group. InnoSpace (Thailand) will form partnerships with local and international agencies in three forms: Incubation Partner, Knowledge Partner and Investment Partner. Current partners include NSTDA, large-scale companies and academic institutes in Thailand, Thai Venture Capital Association, Hong Kong Cyberport Management Company Limited, Hong Kong Trade Development Council and Israel Economic and Trade Mission.

NSTDA President, Dr. Narong Sirilertworakul, stated that NSTDA is pleased to be a partner of InnoSpace (Thailand) and that NSTDA’s mission on promoting the exploitation of science, technology and innovation in the industrial sector aligns perfectly with the work of InnoSpace (Thailand).