Latest news with #KrithpakaBoonfueng
The Sun
07-05-2025
- Business
- The Sun
Thailand Showcases Climate Tech Startups at Web Summit Qatar 2025 to Accelerate Green Innovation on Global Stage
BANGKOK, THAILAND - Media OutReach Newswire - 7 May 2025 - The Ministry of Higher Education, Science, Research and Innovation (MHESI), through the National Innovation Agency (Public Organization), or NIA, is opening up new international opportunities by leading four Thai startups specializing in environmental technologies (Climate Tech/Green Tech) to participate in the Web Summit Qatar 2025 in its capital Doha. The event serves as a gateway for Thai innovation to enter the global market, bringing together startups, experts, and international investors to exchange insights and showcase cutting-edge solutions. This move comes amid booming global demand for green technology. The environmental tech sector is expected to grow at an average rate of 25% annually over the next ten years, underscoring a unique opportunity for Thailand to cultivate and launch a new generation of climate/green tech startups—potentially propelling them to unicorn status. Dr. Krithpaka Boonfueng, Executive Director of the National Innovation Agency (NIA), noted that the global sustainability movement is gaining significant momentum. SMEs, startups, and industrial sectors worldwide are rapidly integrating technology to drive sustainable innovation. As a result, startups that develop solutions for environmental preservation and climate change mitigation are attracting increasing attention from both consumers and investors—domestically and abroad. The surging global appetite for these technologies reinforces their massive market potential, with projections suggesting a sustained average growth rate of 25% annually for the next decade. Thai startups are well equipped with innovation capabilities comparable to their international counterparts. However, a lack of opportunities and readiness in structured business management has often hindered their full potential for expansion into global markets. As the nation's designated Focal Conductor for innovation, the NIA is therefore committed to providing comprehensive support—including funding, opportunities, and knowledge development—to empower Thai startups to grow with greater strength and readiness for international expansion. A particular focus is being placed on accelerating the development of startups in the fields of environmental technology and sustainability, with the ambition of nurturing more Thai unicorns—startups valued at over 1 billion US dollars—over the coming years. To achieve this, it is crucial to stimulate investment through collaborative efforts between the public sector, private enterprises, and academic institutions. One key initiative towards this goal is the Unicorn Factory Thailand project, which aims to enhance the capabilities of promising startups and unlock new opportunities to propel them onto the global stage. The program will feature workshops targeted at startups in the Series A stage and beyond, covering vital areas such as building sustainable businesses, expanding investor and partner networks, strategies for international market entry, and gaining opportunities to pitch at leading global technology and innovation showcases. Dr. Krithpaka further added that over the past year, the NIA successfully created new business opportunities and connected four growth-stage Thai startups, along with one winning student team from the Startup Thailand League 2024, to the global stage at TechCrunch Disrupt 2024—a leading global technology and startup conference and exhibition. During the event, the delegation also engaged in discussions with partner organizations supporting startup development in the United States. These engagements provided valuable exposure for Thai startups, enabling them to explore market expansion strategies and gain access to networks of investors, experts, and global business partners. In 2025, the NIA remains committed to driving Thai startups towards international markets by continually building new business opportunities. This year, four promising Thai startups in the fields of Climate Tech and Green Tech have been selected for further internationalization efforts. These are: 1. – developers of intelligent energy management systems; 2. ION ENERGY CORPORATION – a leading provider of residential solar energy solutions in Thailand, offering integrated energy management and payment platforms for PPA/EPC clients; 3. VEKIN (Thailand) – creators of the AI Carbon Editor tool, designed to analyze and manage carbon emissions for corporate and industrial sectors; and 4. MUI Robotics – developers of intelligent robotics and automation systems for applications in industries such as manufacturing, logistics, healthcare, and agriculture. These four startups are showcasing their innovations, presenting business plans, and engaging directly with investors and international markets at Web Summit Qatar 2025, held in Doha, Qatar. As the Middle East's largest technology and startup conference, the event brings together startups, investors, major corporations, public and private sector organizations, and technology leaders from across industries to exchange knowledge, foster collaboration, and strengthen the international startup ecosystem. The summit expects more than 25,000 attendees, featuring 1,520 startup companies, 723 investors, and 167 partners from around the world. Notably, the Thai startups' booths attracted strong interest from investors and businesses across multiple countries, resulting in numerous business discussions and information exchanges. 'The NIA aims to produce one to two new homegrown unicorns within the next three years, focusing on startups in the FoodTech and GreenTech sectors,' stated Dr Krithpaka. 'These sectors have considerable market demand, particularly GreenTech, which is proving especially promising. Organizations of all sizes—from large corporations to SMEs—are actively seeking solutions to environmental challenges, spurred in part by the growing pressure of carbon taxes imposed on fossil fuel emissions. This has created significant demand for environmental innovations, providing fertile ground for the emergence of high-growth startups in this space. Investment in environmental and sustainability-focused technologies continues to rise, both in Thailand and abroad. Thailand, in particular, offers a unique combination of factors that position its startups for global expansion: abundant space and resources, as well as real-world environmental challenges that make it an ideal sandbox environment for piloting environmental technologies. These technologies can be trialed across industries under the country's Green Transformation framework—whether through the adoption of renewable energy, boosting energy efficiency, reducing greenhouse gas emissions, or mitigating pollution. There is capital available—both from end-users and from investors—and there is strong momentum in the ecosystem. All of this makes Thailand a viable launchpad for unicorns.' Mr Phattananat Wongwan, Chief Growth Officer (CGO) of MUI Robotics Co Ltd, stated that MUI Robotics' technologies are already being widely adopted within Thai industries, thanks to their ability to address environmental concerns within industrial production processes. With the support of the NIA, MUI Robotics has been able to accelerate its growth and extend its reach into international markets. In particular, the opportunity to meet with investors and showcase their solutions at Web Summit Qatar 2025 has significantly raised the profile of Thai innovation and helped gain recognition from overseas investors. 'Our technologies go beyond solving local environmental challenges—they're applicable to industrial problems on a global scale,' said Mr Phattananat. He emphasized that government support is key to enabling more startups to emerge and thrive. 'If the government continues to champion and invest in the startup ecosystem, especially in the Climate Tech and Green Tech sectors, Thai startups will be well positioned for sustainable growth on the world stage.' Mr Pamekitti Puktalae, Technical Product at AltoTech Global Co Ltd, remarked that many industries today are striving to position themselves as leaders in sustainability. This demand creates opportunities for startups developing environmental solutions—whether by creating carbon-neutral spaces or providing ESG-supporting tools—to step in and add real value. He continued, 'NIA's support in enabling AltoTech, which integrates AI and IoT to address sustainability challenges, to showcase our capabilities at Web Summit Qatar 2025 has opened a crucial gateway for Thai startups to enter the global stage. A market like Qatar, which prioritizes sustainability and smart infrastructure, is an ideal fit. Participating in this event has not only allowed us to engage with global stakeholders and gain insights into international market demands, but also helped us fine-tune our solutions to align with diverse expectations and accelerate our global expansion.' 'Additionally,' he added, 'this opportunity has significantly boosted the credibility of Thai entrepreneurs, which in turn has increased our visibility and appeal to both domestic and international investors.'
Zawya
06-02-2025
- Business
- Zawya
NIA Unveils 2025 Startup Trends: AI, Green Tech, and FinTech Set to Soar as Thailand Drives Global Growth Ambitions
BANGKOK, THAILAND - Media OutReach Newswire - 6 February 2025 - The Ministry of Higher Education, Science, Research, and Innovation (MHESI), through the National Innovation Agency (Public Organisation) or NIA, has revealed an overview of Thailand's startup growth for 2024. The data shows a consistent upward trajectory, with a cumulative growth rate of 3.3% since 2021, reinforcing Thailand's position as one of the world's most startup-friendly hubs. As we step into 2025, startups face a dynamic landscape marked by economic fluctuations, evolving consumer behaviours, and the rapid emergence of new technologies. Amid these challenges, three key technology sectors are poised for significant growth and investment opportunities: Artificial Intelligence (AI); Sustainability Technologies, including Green Tech, CleanTech, and Climate Tech; and Financial Technologies (FinTech). Dr. Krithpaka Boonfueng, Executive Director of the National Innovation Agency (NIA), stated that over the past year, Thailand has been home to approximately 2,100 startups, comprising 700 in the pre-seed stage and 1,400 in the go-to-market or growth stage. When compared to other countries in Southeast Asia, Thai startups have demonstrated consistent growth, with seed-stage funding increasing by 4% year-on-year and a cumulative growth rate of 3.3% since 2021. According to the Global Startup Ecosystem Index published last year by StartupBlink—a leading global hub for startup ecosystem data—Thailand ranked 54th globally and 4th in Southeast Asia, following Singapore, Indonesia, and Malaysia. This reflects the significant progress of Thailand's startup ecosystem, which is increasingly recognised on the global stage as one of the region's emerging hubs for entrepreneurial ventures. One of the key challenges for Thailand's startup ecosystem lies in the rapid expansion of Data Centres, with the country emerging as a prime destination for both domestic and global investors. Positioned as the region's new "Digital Economy Hub," Thailand's data centre capacity has surged by over 54% in the past three years, ranking third in ASEAN, following Singapore and Malaysia. Projections for 2024–2027 estimate that Thailand could attract around 260 billion baht in data centre investments. However, to fully capitalise on this growth, Thailand must accelerate talent development to meet market demands and establish robust, long-term policies that inspire investor confidence. These efforts are critical in fostering a sustainable ecosystem that aligns with the broader challenges of the AI-driven society, the need for upskilling and reskilling the workforce, and the global shift towards ESG (Environmental, Social, and Governance) principles. Embracing ESG not only ensures sustainable business practices but also positions Thailand competitively within the evolving global economic landscape. Looking ahead to 2025, both in Thailand and globally, the startup landscape is set to be driven by transformative technologies that promise significant growth potential. These key trends include: Artificial Intelligence (AI): AI is rapidly revolutionising industries, with Generative AI at the forefront due to its versatility across sectors. This technology fuels continuous, efficient innovation by creating new content, solutions, and processes. Additionally, the rise of AI Agentic Systems—capable of autonomous thinking, analysis, and decision-making—marks a major leap forward. These systems excel at managing complex tasks and solving multidimensional problems, with over 70% of business leaders and investors confident in their potential to transform operations, from strategic planning and production to customer service. AI Agents not only enhance responsiveness to market demands but also significantly reduce resource consumption, making them an essential asset for future-focused organisations. Sustainability Technologies (Green Tech, CleanTech, and Climate Tech): As environmental challenges intensify, businesses are increasingly prioritising ESG (Environmental, Social, and Governance) principles, while consumers demand eco-friendly, socially responsible products and services. This shift is propelling the global environmental tech market towards exponential growth, with forecasts predicting an average annual increase of nearly 25% over the next decade. Innovative solutions addressing clean energy, waste management, and sustainable products are driving this momentum. For startups to succeed in this space, it's critical to develop business models that balance profitability with positive environmental and social impact. Financial Technology (FinTech): In Southeast Asia, FinTech continues to dominate the investment landscape, securing an impressive 26% of seed funding in 2024—the highest across all sectors—followed closely by blockchain technologies at 20%. This underscores the sector's resilience and attractiveness, fuelled by innovations in digital payments, decentralised finance, and blockchain applications. In an era defined by rapid technological change, agility is key. Startups must cultivate adaptability, building flexible systems that can pivot in response to evolving market conditions. This dynamic approach not only strengthens business foundations but also ensures sustained growth and scalability in an increasingly competitive global environment. Dr. Krithpaka emphasised that in 2025, under its role as Thailand's "Focal Conductor of Innovation," the National Innovation Agency (NIA) remains committed to fostering and accelerating the growth of startups through its extensive mechanisms and networks. The agency will focus particularly on the development of "Impact Tech"—technologies designed to create positive economic and social impacts, reinforcing Thailand's global image and recognition as an "Innovation Nation." NIA's support framework spans the entire startup journey, from inception to international market expansion guided by the strategic pillars of Groom -> Grant -> Growth -> Global. GROOM (Knowledge Incubation & Network Building): This phase nurtures entrepreneurial capabilities through the NIA Academy, offering comprehensive courses in collaboration with strategic partners and self-paced learning via online platforms like MOOCs. Additionally, the Startup Thailand League plays a pivotal role in enhancing innovation skills among university students, equipping them with entrepreneurial mindsets and preparing them to transition from academic environments to the real-world startup ecosystem. GRANT (Funding Support): NIA provides diverse forms of non-repayable grants tailored to stimulate innovative business development. These grants support both economic drivers—such as national innovation business promotion platforms and regional innovation ecosystems—and social impact projects, including the 'Innovation Village' initiative and urban and community-focused programmes. For startups aiming to scale rapidly and penetrate new markets, the National Innovation Agency (NIA) offers robust opportunities to drive business growth under the GROWTH pillar. This is achieved through a suite of tailored incubation and acceleration programmes across four key sectors: Food Technology – via the flagship SPACE-F programme, designed to nurture food-tech startups towards global competitiveness; Agricultural Technology – through the AGROWTH initiative, focusing on innovations that revolutionise modern agriculture; Health Technology – supporting startups that develop cutting-edge health and medical solutions. Climate Technology – fostering sustainable innovations that address climate change and environmental challenges. To inspire and showcase outstanding innovation success stories, NIA runs the "Nin Mangkorn" project, a platform highlighting transformative ventures. This initiative has evolved into "Nin Mangkorn 10X," with a bold mission to propel high-potential entrepreneurs into capital markets, targeting revenues of no less than 100 million baht within three years. Under the GLOBAL pillar, NIA is committed to expanding Thailand's startup footprint on the international stage through the establishment of a Global Startup Hub. This initiative facilitates cross-border market access, strategic partnerships, and international networking. NIA has forged strong alliances with key global ecosystems, including Hong Kong, Japan, South Korea, Germany, and the Nordic countries, creating a dynamic bridge for Thai startups to thrive in diverse markets. In addition to its growth and global expansion strategies, the National Innovation Agency (NIA) is actively fostering investment opportunities through mechanisms such as Corporate Co-Funding, in partnership with the Thai Venture Capital Association (TVCA). This initiative provides co-investment funding of up to 10 million baht to support high-potential startups. Complementing this effort are key government and industry bodies offering robust financial support: The Board of Investment (BOI) promotes promising startups with incentives ranging from 20 to 50 million baht, particularly for those in the Pre-Series A+ stage and beyond; The One Innovation Fund, managed by the Federation of Thai Industries (FTI), offers substantial backing with a total fund allocation of 1 billion baht to accelerate industrial innovation; and Beacon Venture Capital has launched the Beacon Impact Fund, focusing on investments aligned with Environmental, Social, and Governance (ESG) principles, with an initial fund of 1.2 billion baht. Moreover, the upcoming "Startup Promotion and Development Act" or the long-waited "Startup Act", a landmark legislative framework is set to play a pivotal role in solidifying Thailand's startup landscape. The Act will introduce comprehensive measures to support entrepreneurship, attract investment, and create a more conducive environment for startups to thrive, marking a significant milestone in the evolution of Thailand as a leading innovation-driven economy. Hashtag: #NIA #NationalInnovationAgency The issuer is solely responsible for the content of this announcement. NIA
