Thailand Launches Global Startup Acceleration Program with Sweden to Boost Innovation

Berita Baru, Bangkok – The Ministry of Higher Education, Science, Research, and Innovation (MHESI), through the National Innovation Agency (NIA), along with five partners from both the public and private sectors: Program Management Unit for Competitiveness (PMUC), the Royal Thai Embassy Stockholm, Techsauce, and the Thai Startup Association (TSA), co-hosted the launch of the “The Scaleup Impact! Thailand – Sweden Global Startup Acceleration Program” in partnership with Epicenter. This program aims to elevate Thailand’s startup ecosystem to a global level, focusing on connecting Thai Impact Tech startups with the global market through an intensive acceleration process to create innovations that meet global market demands, the launch event was graced by Mrs. Krongkanit Rakcharoen Director-General, Department of European Affairs, Ministry of Foreign Affairs, alongside Dr. Krithpaka Boonfueng, Executive Director of the National Innovation Agency (Public Organisation).

H.E. Mrs. Arunrung Phothong Humphreys, Ambassador-Designate of the Kingdom of Thailand to Sweden, stated, “One of the primary missions of the Royal Thai Embassy Stockholm and the Thailand and Nordic Countries Innovation Unit (TNIU) is to promote proactive economic diplomacy driven by innovation and sustainability. Sweden is renowned as an ‘Innovation Powerhouse,’ a global leader in innovation, and a hub for successful unicorns. The key to success lies in accessing opportunities and a startup ecosystem that fosters global growth. Therefore, the Embassy, together with leading government and private sector organizations in Thailand’s startup ecosystem, has initiated this ‘flagship project’. This project is a true integration of planning, budget, and project support. Through the Scaleup Impact! program, the Embassy has partnered with Epicenter (Stockholm) which specializes in accelerators for startups, to open doors of opportunity from Thailand to Sweden, the Nordics, and the global market.”

The Ambassador further stated, “In today’s rapidly changing world, new challenges require innovative solutions and collaboration across all sectors. Startups are key drivers of innovation and can create significant impact quickly. I encourage entrepreneurs committed to developing sustainable innovations to join this program. I firmly believe in the potential of Thai startups and that we can leapfrog from being ‘soonicorn’ to unicorns.”

Assoc. Prof. Thongchai Suwonsichon, Director of the Program Management Unit for Competitiveness (PMUC), stated that “PMUC, through the Global Partnership project, places great importance on enhancing the international competitiveness of Thailand’s private sector. This is achieved through international network collaborations involving universities, research institutions, government agencies, and private sectors from both Thailand and foreign countries. These networks collaborate on research and innovation, facilitating technology transfer from foreign countries and/or the dissemination of domestically developed technologies to international partners. This is done in a targeted manner to meet the specific needs of the country, aiming to strengthen the Thai private sector’s ability to bring research and innovation to the global market.”

Furthermore, Assoc. Prof. Dr. Thongchai added, “For this project, PMUC is delighted to support Thai entrepreneurs, particularly Deep Tech startups, in accelerating their growth. By connecting them with Swedish entrepreneurs, we aim to provide them with a foothold in the global market. This is a crucial mechanism that empowers Thai entrepreneurs to enhance their international competitiveness and access larger funding sources, enabling them to distribute their products and services worldwide.”

Dr. Krithpaka Boonfueng, Executive Director of the National Innovation Agency (Public Organisation), stated, “As the driver of Thailand’s innovation landscape, NIA is committed to fostering exponential growth among Thai startups to enable them to enter the global market, especially Sweden. Sweden is renowned for its robust startup ecosystem and is a leading global innovation hub. This collaboration under The Scaleup Impact! Thailand – Sweden Global Startup Acceleration Program aims to nurture 12 Thai startups in the Impact Tech sector that can create positive social and environmental impacts. The program focuses on connecting Thai startups with the global market through knowledge exchange and expertise from leading Swedish entrepreneurs and investors who excel in innovation and have produced numerous successful startups. The Impact Tech sector is of particular interest to Nordic investors. This 6-month program, running from September 2024 to March 2025, includes various activities such as workshops on determining Objectives and Key Results (OKR), expert talks, and business matching to enhance the skills and networks of Thai startups for global competitiveness. Additionally, these startups will have the opportunity to present their business plans in Sweden at the Thailand Pitch Day 2025 in March 2025.”

Dr. Krithpaka further stated, “Beyond opening doors for Thai startups to new markets and fostering unlimited growth opportunities, this project enables startups to access resources, networks, and the rapidly

growing European market. This will facilitate sustainable growth and future global leadership, aligning with NIA’s goal of propelling Thai startups onto the world stage.”

Early-stage startups with innovative technologies in the ImpactTech sector, such as Smart City Solutions, Green Energy, Climate Tech, Creative Industries, HealthTech, FoodTech, and FinTech, who are seeking to expand into international markets are invited to apply for the “The Scaleup Impact! Thailand – Sweden Global Startup Acceleration Program”. Applications are now open from 10 September to 30 September 2024. You can register through Epicenter Accelerate Thailand Cohort 2024/25 (confetti.events) or scan the QR code below.