Bangkok, Thailand – The National Innovation Agency (NIA), under the Ministry of Higher Education, Science, Research, and Innovation (MHESI), has partnered with Thai Union Group PCL, Mahidol University, and other key industry players like Thai Beverage PCL, Lotte Fine Chemicals Co. Ltd., Nestlé (Thailand) Co. Ltd., and Deloitte Thailand, to enhance investment prospects in Thailand’s food industry and FoodTech startups. This collaboration is facilitated through the SPACE-F Batch 5 program, aiming to solidify Thailand’s position as a global food technology innovation hub and elevate its FoodTech startups onto the world stage.
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Dr. Krithpaka Boonfueng, Executive Director of NIA, emphasized NIA’s commitment to driving Thailand’s innovation-driven economy through the Groom-Grant-Growth-Global strategy. This strategy involves funding support, entrepreneurial capacity building, access to innovation infrastructure, and adaptability to change, focusing on leveraging innovation to drive growth and add value in key industries like food innovation.
SPACE-F, a global incubator and accelerator program for FoodTech businesses, supports both domestic and international FoodTech startups in developing market-driven products, enhancing Thailand’s competitive edge in the rapidly evolving global landscape. It fosters collaboration between public and private sector partners, providing startups access to networks, funding, and expert guidance. The program has been instrumental in driving the growth of the FoodTech sector in Thailand, attracting an impressive investment of 2 billion baht from domestic and international sources over the past five years.
Mr. Tawat Suthasineenont, Group Director Global (Innovation) at Thai Union Group PLC, shared Thai Union’s vision of a future food industry thriving on innovation and sustainability, committed to “Healthy Living, Healthy Oceans.” He highlighted the importance of sustainable practices, particularly in developing alternative protein sources, reducing food waste, and enhancing nutritional value, aligning with the objectives of the SPACE-F program.
Associate Professor Dr. Yodchanan Wongsawat, Vice President for Research at Mahidol University, expressed his delight at the success of SPACE-F Batch 5, which has cultivated a robust ecosystem for FoodTech startups from Thailand and around the world. The program has paved the way for numerous startups to thrive, providing a co-innovation lab, dedicated workspaces, and comprehensive mentoring and consulting programs.
SPACE-F distinguishes itself through the strong partnership between its co-founders and stakeholders, including the government, private sector giants, and academic institutions. Mahidol University, with its focus on global research, innovation, and entrepreneurial education, has contributed significantly through high-quality research, innovative developments, and a steady supply of globally competitive graduates.
Mr. Victor Seah, Chairman and Chief Executive Officer of Nestlé Indochina, shared his positive experience of Nestlé’s first-time participation in the SPACE-F program. He emphasized the program’s role in fostering innovation and driving startup growth, highlighting the valuable learning opportunities it provides even for large corporations.
Thai Beverage Public Company Limited (ThaiBev) plays a pivotal role in conducting Proof of Concept (POC) initiatives, allowing FoodTech startups to test and refine their products in real-world environments. This enhances product quality, builds credibility, and paves the way for the development of market-ready solutions.
The SPACE-F Batch 5 program features 18 startup teams at the forefront of FoodTech innovation, focusing on sustainable solutions and products. The Incubator Program showcases groundbreaking ideas like Thailand’s first solution for reducing single-use packaging, coffee products derived from plant cells, software for minimizing CO2 emissions in the food and agriculture sectors, and supplements enriched with probiotics and prebiotics using Nano Encapsulation technology.
The Accelerator Program includes startups developing microbial-based nutrients for aquafeed, antimicrobial agents and food-coating films from cashew nut shells, food coatings to extend the shelf life of fresh produce, phage technology to control bacteria in livestock and aquaculture, and a coffee-like substitute made by fermenting bread, soybeans, and barley.
SPACE-F Batch 6 is set to launch in January 2025, inviting innovative startups worldwide to participate. The program offers expert mentorship, networking opportunities, and access to cutting-edge resources, further accelerating the growth of the FoodTech sector.
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