BANGKOK, June 12 – Thirty organizations of the government, the private sector and the educational sector join forces to support InnoSpace (Thailand) Co with a plan to invest about 600 million baht in developing Thai startups.
In the signing ceremony of the cooperation, Tevin Vongvanich, chief advisor to InnoSpace (Thailand), said the 30 organizations agreed to set up InnoSpace (Thailand) Co to help develop Thai startups. The startup incubator has sealed cooperation with Hong Kong Cyberport and will expand its cooperation with other countries in the future, he said.
InnoSpace (Thailand) is a non-profit organization that will raise funds from organizations. Next month a sponsorship worth about 500 million baht will be signed, Mr Tevin said. The company would gather knowledge and use innovation to strengthen the Thai economy, he said.
Kobchai Sungsitthisawad, director-general of the Industrial Promotion Department, said 50 potential startups would be selected to present their business plans in the Hong Kong Cyberport fair in November.
He also said that state agencies and the private sector was interested in injecting at least 640 million baht into InnoSpace (Thailand).
They include PTT Plc, Thai Beverage Plc, Charoen Pokphand Group, the Electricity Generating Authority of Thailand, Siam Commercial Bank, Bangkok Bank, Saha Group, Bangkok Airways, Thai Union Group, Bangkok Dusit Medical Services. (TNA)
