News

Articles:

Thailand’s Ministry of Digital Economy and Society to develop a national digital community for startups and entrepreneurs

Thailand’s Ministry of Digital Economy and Society to develop a national digital community for startups and entrepreneurs

The Ministry of Digital Economy and
Society
(DE) will be collaborating with the Hong Kong Cyberport
for the development of a national digital community and one-stop facilitator
for startups and entrepreneurs. Details pertaining to Thailand Cyberport will
be finalised in the next two months, prior to getting the project off ground by
the end of the year.

According to the report
made by the Bangkok
Post
, the Digital Economy and Society (DE) Minister, along with his
team, met up with the chairman of Hong Kong Cyberport Management Co to drive
the development of Thailand Cyberport together.

DE Minister Pichet Durongkaveroj shared
that Thailand Cyberport aims to be a national innovative community for multiple
sectors and a centre for the startup ecosystem in the region, attracting venture
capital firms and global enterprises.

He furthered that the country’s existing
ecosystem for startup incubation is not enough to drive the Thailand 4.0
roadmap of the government. Therefore, the government needs a more practical
driver for the development of a digital ecosystem.

The existing ecosystem does not provide
startups with the opportunity to create connections with strategic partners and
investors that could have assisted them upon incubation. Moreover, there is
also a lack of driving collaborations with local and international business partners.

However, Minister Pichet countered, with
Thailand Cyberport, incubators of all levels may seek angel funds, skills
management coaching and venture capital. The project will include areas as
diverse as culture, tourism and agriculture.

Thailand Cyberport will be set up in the
vicinity of the Digital
Park
in Chon Buri province. This will be under the Eastern Economic Corridor
scheme of the Thai government.

The Ministry of Digital Economy and Society
is working with the Ministry of Science and Technology,
the Ministry of Industry
and the Board
of Investment
to finalise major details of the Thailand Cyberport
project.

Hong Kong Cyberport is a digital community
whose management company is wholly owned by the Hong Kong Government. It is a
business park consisting of four office buildings, a hotel and a retail
entertainment complex, described as a creative digital community with a cluster
of technology and digital content tenants.

Minister Pichet added that the Thai government,
through the DE Ministry, is pushing several initiatives that will fulfil the
digital transformation of Thailand. One such initiative is the establishment of
a test base for 5G wireless broadband at the Digital Park. The 5G test base was
approved by the National Digital Economy and Society Committee headed by Deputy
Prime Minister Prajin Juntong.