Thailand joins hands with Chile for startup development

Representatives from National Innovation Agency (NIA), Venture Capital Association of Thailand, Suranaree University of Technology, and Chiangmai University recently visited Republic of Chile to study the startup ecosystem of Chile and strengthen collaboration in startup of the two countries. Agencies of Chile include Ministry of Economy, Development and Tourism, Chilean Production Development Agency (CORFO), Startup Chile, IncubaUC, Government Lab, Chile-ASEAN Chamber of Commerce A.G., and Valparaiso Reginal Chamber of Commerce

NIA and CORFO have signed a memorandum of understanding (MoU) in collaboration and partnership in innovation and startup business development of the two countries to enhance the development and management of ecosystem supporting innovative enterprises and deep tech startups.

This trip also focuses on exchange information and experience on startup ecosystem in city level in Santiago and Bangkok in order to grow and sustain vibrant startup ecosystems through eight major factors: funding, market reach, global connectedness, technical talent, startup experience, resource attraction, corporate involvement, founder ambition and strategy.

Meanwhile, NIA, Suranaree University of Technology, and Chiangmai University have signed a tripartite agreement with Pontifical Catholica University of Chile.

According to Ambassador Sarikan Pholmani, the policy called “Thailand 4.0” is an economic model that aims to move the country into a new era of industrial development defined by innovative science and technology-based manufacturing and services with a view to getting Thailand out of middle-income trap by the year 2037.  In practice, generous investment incentives, including “smart visa” are offered to foreign investors in the targeted industries considered as Thailand’s future industries. Recognizing the increasing role startups can play in national economic development, the government entrusts the work with the National Innovation Agency, under the Ministry of Science and Technology, to promote and network Thai startups with the rest of the world.

“For Latin America, we spot Chile as our counterpart due to Chile’s high international standings and potentials. Chile made her first entry in SEA biggest startups event in May 2018 in Bangkok, practically the first Latin American country to be there. The collaboration of Thailand and Chile will deepen our understanding of where our potentials lie and serve as a bridge to link our officers and entrepreneurs together so that both sides can join hands and take advantage of the existing potentials.”

Dr. Pun-Arj Chairatana, NIA Executive Director said NIA has been assigned to build and develop national innovation system. This year marks 10th year anniversary that NIA has been supporting and facilitating innovation and entrepreneurship development and capability in Thailand. NIA has established ‘Innovation Strategy for 2020-2030’ in accordance to Thailand 4.0 policy Which would be time of important changes and transformation.

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