As the nation works to establish itself as a premier global innovation centre, deep tech firms in Thailand should be more daring and approachable with government organizations, experts advised on Friday.
The comments were delivered at a seminar on “Deep Tech Ecosystem in Thailand and Beyond,” which was organized by the Thai digital marketing and advertising agency MCFIVA.
Three panelists reviewed the difficulties and possibilities in the deep-tech sector in Thailand, including Pongwud Praipaisankij, CEO of Multiverse Expert, Nimit Nipattummaku, project manager at National Innovation Agency (NIA), and Paradorn Kulkliang, director of Samitivej Chonburi Hospital.
Thai deep-tech entrepreneurs frequently make the error of being too hesitant to interact with governmental institutions. Pongwud claims that this is because they are afraid that laws and regulations will reject or forbid their proposal.
“Keep in mind that speaking up can help you receive 50% financial and spiritual assistance. You won’t get anything, though, if you don’t present your case, he warned.
Instead of attempting to invent their own technology, he recommended all entrepreneurs to think about working with researchers and specialists because it can be a beneficial strategy to help their business grow.
The project manager for NIA, Nimit, agreed with the assessment and described deep tech as a business strategy that seeks an inventive remedy to human problems.
He observed that while there are many top-notch researchers and studies conducted in Thailand, very few of them are applied to the business sector to benefit end consumers.
He stated it would be great if the commercial sector got involved so that these studies might actually help society.
He added that entrepreneurs might save time and money by working with numerous government organizations and respected universities nationwide.
All three panelists agreed that Thailand’s deep-tech sector is on the right track and has the foundation and infrastructure necessary to support all deep-tech innovations, including 5G networks, blockchain, big data, and artificial intelligence (AI).
Also, Thailand is more competitive than nations at the top of the sector since deep tech has received both enough and clear laws from the government in addition to strong support from the latter.
Working in one of the most important sectors of deep technology and healthcare in the nation, Paradorn asserted that deep technology has changed from being a source of hard-to-replicate innovative technology that generated revenue for a single business to being a source of value for social solutions.
Other than healthcare, he said, deep tech can have a big impact in finance, food, agriculture, and data management.
He emphasized the multiple chances for Thai deep-tech entrepreneurs to launch long-term commercial operations. Regrettably, the majority of businesses fail because they lack a solid business plan despite having great ideas.
He was agreed with by Pongwud. He urged startup owners not to try to run every part of their business themselves.
Let someone else be a CEO if you weren’t meant to be one, he urged.
The lecture was a component of a press conference that MCFICA sponsored to advertise its yearly major event, “SEAT 2023: Southeast Asia Technology Conference 2023,” which will be place on March 28-29 in Bangkok.
Deep-tech startups must interact with government organizations more frequently.
The two-day event, according to Pireeya Wiriyapan, chief operating officer of MCFIVA (Thailand), intends to give Thailand’s innovation technology business fantastic opportunity to learn about the most recent worldwide trends.
While this is going on, top-tier experts and venture investors can meet with Thai invited businesses and startups for an update and business matching.
The by-invitation-only SEAT Conference 2023 attendees will have the chance to converse with about 30 global leaders in a variety of technology fields, including climate tech, entertainment tech, metaverse tech, fintech tech, health tech, agri tech, venture capital tech, food tech, Internet of Things tech, and hardware tech, among others.
Pireeya thought that this conference will contribute to the development and improvement of Thailand’s tech sector as well as give Thai executives fresh ideas on how to approach and manage global technology in the future.