Neighbourhood is set to provide a comprehensive ecosystem for both domestic and international start-ups
Thailand’s National Innovation Agency (NIA) in collaboration with True Digital Park have announced the creation of an innovation district based in the Punnawithi area of the capital city, Bangkok.
The Bangkok CyberTech District aims to provide a comprehensive start-up ecosystem for both domestic and international startups while proactively positioning Thailand as a global hub for digital innovation.
“As the pace of technology accelerates and global start-up 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,” said Dr Suvit Maesincee, Thailand’s minister of science and technology.
“These districts are aimed at creating technology-centric ecosystems that offer start-up firms full support on business administrative aspects and clustering them to facilitate long-term economic development and productivity.”
Powered by True Digital Park, Bangkok CyberTech District is looking to attract global tech giants to set up their offices or experience centres in Thailand, as well as start-ups and entrepreneurs focusing on IoT, big data analytics, artificial intelligence (AI) and machine learning, e-commerce, FinTech and more.
“Bangkok CyberTech District will bring together capital, knowledge and talents to help businesses thrive and be able to compete globally”
The hub is projected to become home to leading accelerators, incubators, VCs and investors from the around the world, initiating programs and workshops that harness start-up businesses while empowering start-up community at regional level. The Government’s one-stop service centres will also be established within the district to support corporates and start-ups, and provide a range of services to attract foreign investors to Thailand.
“Bangkok CyberTech District will bring together capital, knowledge and talents to help businesses thrive and be able to compete globally,” added Thanasorn Jaidee, president of True Digital Park.
“Corporates and start-ups 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 centre for digital innovation.”
Start-up Thailand Centre has been named as the first organisation to take up residency in the hub. The centre will provide diverse services and benefits as well as facilities to attract start-ups, investors and talents from around the world to invest and set up their business operations in Thailand. This will include co-working space, event space, private offices and a special platform to promote and support new start-ups.
Bangkok CyberTech District is intended to attract start-ups mostly from Singapore, Japan and China. NIA expects that Thailand will have welcomed over 1,000 start-ups and develop more than 5,000 professionals and experts by 2021.
This will contribute to better employment opportunities, long-term economic growth, and an improved perspective of the country’s contribution to the global digital landscape.
For more Smart City Expo World Congress news from Barcelona, go to SCEWC18