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Techsauce unveils 4 THAI Strategies, Pioneering public-private to drive Thailand as the Regional Tech Gateway

Techsauce, solidifies its commitment as a Tech Ecosystem Builder with the launch of the “Bridging Thailand to Global Impact” event, catalyzing Thailand’s ascent onto the global arena. With a steadfast focus on propelling Thailand towards its vision of becoming a premier “Tech Gateway”, a hub for technology and innovation enterprises, Techsauce pioneers a collaboration across diverse sectors – both public and private – to drive economic advancement through technology and innovation, along with announcing the 4 THAI strategy encompassing 7 key objectives to expedite Thailand’s emergence as the Tech Gateway of the region.

Prasert Jantararuangtong, Minister of Digital Economy and Society declares At present, fostering technological advancement, particularly in AI, is paramount for Thailand’s journey towards sustainable development, aligning it with global industries. Notably, the Ministry of Digital Economy and Society has initiated the Growth Engine of Thailand plan, aimed at enhancing the competitiveness of the Thai digital startup sector.

This comprehensive strategy encompasses various initiatives such as the establishment of platforms to promote Thai startups (Digital Startup Nation), the creation of a digital startup fund to facilitate investor support through co-investment with the private sector, and the promotion of digital service accounts. Central to this plan is the Tech Gateway project by Techsauce, in collaboration with the Digital Economy Promotion Agency (depa) and its network of partners, dedicated to positioning Thailand as the Tech Gateway of Southeast Asia. This initiative serves as a pivotal gateway, attracting foreign investment into Thailand, a crucial endeavour endorsed by the government, the Thai private sector, international organisations, and every stakeholder. It promises to catalyse sustainable economic growth and digital advancement not only in Thailand but also across Southeast Asia in the foreseeable future

At the Techsauce event, a dynamic collaboration with the private sector was forged to drive Thailand into its envisioned role as the premier Tech Gateway of the ASEAN region. This partnership unveiled the ambitious 4 THAI strategic plan, comprising 7 shared objectives to be achieved by 2030. Encompassing initiatives to bolster investment within Thailand (Inbound), attract top-tier talent (Talent), and stimulate increased business activities domestically, the plan also champions the expansion of Thai enterprises abroad (Outbound), positioning them as conduits for Thailand’s ascent to the forefront of global innovation. Poised to invigorate the economy and foster sustainable investment inflows, this endeavour holds immense promise for stakeholders across the government sector, private enterprises, entrepreneurs, the social sector, and all technology enthusiasts alike.

The 4 THAI strategy consists of 7 Inbound and Outbound goals aimed at driving Thailand towards a Tech Gateway comprises

Inbound (4 Objectives): T H A I

  • T – Talent: Attract more skilled personnel (Tech Talent) from abroad to work in Thailand. To contribute in enhancing technological knowledge in the region and create elite personnel and a new generation of high quality in Thailand.
  • H – Home base:  Expand a production base from abroad to Thailand by increasing the number of companies and projects in the technology business group with the objective to set up offices and production bases in Thailand.
  • A – Asset movement: Promote cooperation in technology by reintroducing and implementing technology investments made by Thai organizations abroad. This endeavor aims to enhance Thailand’s efficiency and competitiveness in the global market while fostering sustainable technological development within the country.
  • I – Investment: Increase investment in technology businesses in Thailand by attracting foreign investors to Thailand with the aim to distribute investment funds from investors from various countries, starting in August 2024.

Outbound (3 Objectives):  Thai Innovation, Thai Brand, and Thai Tech Talent

  • Thai Innovation: Elevate the level of innovation in Thailand and strengthen the ability to create innovation for Thai businesses by using innovative technology by Thai innovators or “Thai – Use – Thai”.
  • Thai Brand: Lead Thai innovation-based organizations to grow on a regional level, increasing chances for Thai innovation-based organizations to regionally prosper with the “Thai brands can grow” campaign.
  • Thai Tech Talent: Develop skills for Thai tech talent to grow on an international scale and attract Thai tech talent living abroad to return home and develop the innovation scene in the country.

The Tech Gateway project is a collaborative effort between the private sector and key organizations, including Beryl 8 Plus Public Company Limited, the Digital Economy Promotion Agency (depa), Export-Import Bank of Thailand, Kasikorn Bank Public Company Limited, SCG – The Siam Cement Public Company Limited, the Thai Startup Association, True Digital Park Company Limited, WHA Corporation Public Company Limited, UOB Bank Company Limited, and the Department of International Trade Promotion, Ministry of Commerce, Thailand (DITP). Embracing a unified vision, these entities are driving technological advancements to foster Thailand’s development across various sectors. With a strategic roadmap spanning 5 years, the project is poised for full implementation by 2030. The Tech Gateway initiative stands as a pivotal catalyst for transformative changes in Thailand’s economy and society, leveraging technology to benefit all segments of society.

depa announces investment in Techsauce 

In a strategic move to drive the Tech Gateway forward, the Digital Economy Promotion Agency (depa) has unveiled its investment in Techsauce Media, forging a symbiotic partnership rooted in a shared vision. This investment not only bolsters Techsauce’s role as a Tech Ecosystem Builder but also synergizes efforts to elevate the efficiency of Tech Gateway operations. Moreover, it serves as a significant driving force for the ongoing advancement of Thailand’s digital startup ecosystem and the nation’s burgeoning digital industry.

DITP inks an MOI agreement with Tech Gateway

The Department of International Trade Promotion (DITP), Ministry of Commerce, furthered its commitment to bolstering the Tech Gateway initiative by formalizing support through a memorandum of intent (MOI) signed at the Conrad Hotel, Bangkok, on 3 May 2024. This collaborative effort aims to empower Thai tech startup entrepreneurs (Tech Startup) by facilitating market expansion into foreign territories, thereby stimulating economic growth, and enhancing competitiveness in the tech startup service sector. This initiative opens avenues for international trade business operations and fosters opportunities for foreign investment, marking a significant stride towards broader global engagement.

Techsauce Global Summit 2024

Techsauce announces launch of the Techsauce Global Summit event while establishing “Innovative Work of the Nation”
Furthermore, Techsauce has unveiled its plans to move forward with the “Techsauce Global Summit 2024”, themed ‘The World of Tomorrow With AI’, ensuring the continuity of Asia’s foremost cutting-edge technology event. Positioned to assemble a formidable alliance of technology partners from both the public and private sectors in Thailand, alongside more than 300 foreign companies spanning 40 countries worldwide. 

Oranuch Lerdsuwankij, CEO and co-founder of Techsauce Media Company Limited states The establishment of the Tech Gateway project over the past year has entailed collaboration with key national organisations, pushing Thailand towards a technological and innovative frontier. Our aim includes empowering Thai entrepreneurs to tap into diverse knowledge pools and avenues for business expansion. Last year, Techsauce Global Summit 2023 generated more than 300 million baht of economic growth for Thailand which aligns seamlessly with Techsauce’s mission to catalyze technological investment within Thailand, alongside attracting foreign capital inflows (Inbound) and fostering the growth and global expansion of Thai SMEs and startups (Outbound).

Moreover, it underscores our commitment to fostering robust knowledge-sharing within the tech industry, nurturing Thai entrepreneurs in technology and innovation. This year, through initiatives like the Techsauce Global Summit 2024, we are enhancing the event’s organization with a fortified vision. Beyond providing a gateway of opportunity for Thai SMEs and startups, it serves as a nexus for connecting businesses both domestically and internationally, with the overarching goal of cultivating a resilient Tech Ecosystem. Our collective efforts aim to position Thailand competitively on the global stage in the future.

For the Techsauce Global Summit 2024 event, the primary sponsors include: the Digital Economy Promotion Agency (depa), Kasikorn Business-Technology Group Company (KBTG), and SCB. These sponsors are instrumental in driving Thailand’s technological advancement by leaps and bounds, while fostering economic growth hand in hand. Their support is poised to attract investment from both domestic and international investors, solidifying Thailand as a prime destination for technology investment. This creates opportunities for Thai SMEs and startups to thrive on the global stage. The event is scheduled to take place from 7 – 9 August 2024, at the Queen Sirikit National Convention Center.

Techsauce Global Summit 2024

Furthermore, this year Techsauce will continue to host the Techsauce Global Summit in Indonesia in September and Techsauce Global Summit in Vietnam in October, in collaboration with Kasikorn Business-Technology Group (KBTG). This effort aims to solidify Techsauce’s position as a Tech Ecosystem Builder and foster collaborative partnerships with other Southeast Asian countries. This endeavor aligns with the overarching goal of driving Thailand to become the Tech Gateway of the ASEAN region.

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