Assoc. Prof. Dr. Thongchai Suwansichon, the Director of the Program Management Unit for Competitiveness (PMUC), represented the organization in receiving an honorary plaque for supporting Thailand’s Deep Tech Startup Ecosystem during the “Chula Deep Tech Demo Day 2023” event held by Chulalongkorn University Innovation Hub (CUiHub) on October 16, 2023, at the Queen Sirikit National Convention Center in Bangkok.
Ms. Supamas Israpakdee, the Minister of the Ministry of Higher Education, Science, Research, and Innovation (MHESI), presided over the event. She mentioned that “This event was designed for startups focusing on advanced technology (Deep Tech) with the primary objective of providing opportunities for startups to present and showcase their products to potential investors. It also aimed to attract venture capital investors (VCs) and corporate venture capitalists (CVCs) from around the world to Thailand. Additionally, attendees had the opportunity to network with startups and key players in the Deep Tech innovation ecosystem and gain important insights into the current state of Thailand’s startup market.
Assoc. Prof. Dr. Thongchai talked about the role of PMUC in supporting Thailand’s Deep Tech Startups. He highlighted the importance of creating a culture of innovation and technology development in Thailand to promote high-value research and development, which would lead to commercial products and services. PMUC’s “Deep Science and Technology Accelerator Platform” has been instrumental in supporting Thai Deep Tech Startups and SMEs by providing mentorship, guidance, and facilitating collaboration between the public and private sectors to foster innovation. Over the past three years, PMUC has provided over 190 million baht in funding to 11 accelerators from nine leading universities and one research institute, resulting in the creation of 84 startups across eight industries, with a total value of over 972 million baht.
PMUC’s mission to help Thai Deep Tech Startups succeed involves creating connections, collaboration between the public and private sectors, converting research into commercial innovations, and catalyzing their entry into the global market. This will ultimately enhance the competitiveness of Thai entrepreneurs, helping them expand beyond the middle-income trap and produce high-value products and services that can attract investments in various industries and contribute to the country’s economic growth.
At the end of October, PMUC will accompany 22 entrepreneurs from 11 accelerators to showcase their innovative work at the “TechInnovation 2023, Singapore” event, organized by Innovation Partner for Impact (IPI) in Singapore. This participation aims to find new international partners for investment in innovation and create opportunities for Thai entrepreneurs to compete on a global scale in the future.
