Southeast Asia has been experiencing a huge boom in its startup ecosystem as of late, being noted as one of the most attractive destinations for investors. Thailand, in particular, is a nascent market for entrepreneurship. The Thai government has been working to build the country’s tech ecosystem in recent years.
Recently, the National Innovation Agency, a government agency aimed at encouraging innovation, overhauled its financial support programme for startups to help move progress along quicker and allowing them to access THB44 (US$1.4 billion) billion in funding.
With the goal of building 3,000 innovation-based startups within the next decade, the agency is working in partnership with True Digital Park (TDPK), the country’s first and Southeast Asia’s largest digital innovation hub, in order to help nurture the startup ecosystem and nurture growth.
Based in Bangkok, the global start-up destination is a playground of sorts for innovation, providing space for work and daily living in an integrated community. Initiatives like these really emphasise Thailand’s dedication to a digital transformation.
With the sheer amount of talent and investment being gathered at Thailand’s TDPK, the park provides crucial knowledge creation that is supportive of digital innovation. By positioning itself as a hub where innovation thrives and sprawls, TDPK empowers the region’s startup ecosystem and boosts its potential exponentially.
One such instance of empowerment occurred in September 2019, when TDPK hosted a tech conference, Togetherness of Possibilities, which aimed to inspire and share knowledge and experiences among startups, businesses, and government agencies.
Said conference allowed for new technologies and innovation labs to be exhibited by partners of the space, from both the public and private sectors, as well as top executives and entrepreneurs whose work is designed at driving more sustainable digital economic development in Thailand and the SEA region.
Innovation and digital technology are the driving forces behind digital transformation especially for enterprises and industries that need to change their business model and apply digital technology to create added value for products and services.