Thai deep tech startups generate over 965 million baht

The Higher Education, Science, Research and Innovation Ministry’s Programme Management Unit for Competitiveness (PMUC) has successfully fostered over 90 Thai deep tech startups, generating an economic value exceeding 965 million baht.

PMUC Director Thongchai Suwansichon highlighted the unit’s role in leveraging university research to commercialise products that benefit the national economy.

“The PMUC sees the potential of research work in universities that are innovative and use advanced science and technology capabilities and local materials to commercialise products and benefit the country’s economy.”

This week, the PMUC hosted its PMUC CONNECT event, designed to link startups with investors, aiming to propel deep tech startups onto the global stage.

In the past five years, the PMUC has allocated 250 million baht to link nine universities and agencies, resulting in the creation of 12 deep science and technology accelerator programmes. These programmes support deep tech startups in their pre-venture stages to commercialise innovations.

Deep tech startups utilise advanced science and technology to develop products and services, which are crucial for Thailand’s new economic growth.

Matching business and investors

The PMUC aids universities in establishing deep science and technology accelerator platforms that bring research to market visibility. According to Thongchai, this support helps researchers understand their target markets and facilitates business matching with investors to deliver innovations.

“We have a wide range of science and technology work ranging from foodtech, medical and wellness, herbs, robotics, and biotech, depending on the university’s expertise.”

Through these accelerator programmes, the PMUC collaborates with universities to transition research from laboratories to production, market testing, intellectual property registration, and valuation.

In fiscal 2025, the PMUC intends to promote these accelerators globally by connecting them with embassies and international accelerators, particularly in Singapore, Sweden, the UK, and Hong Kong. This initiative aims to expose startups to overseas market opportunities and regulatory frameworks.

Furthermore, the PMUC facilitates connections with foreign startups interested in investing in or expanding to Thailand, enhancing investor confidence in local startups.

The PMUC has also introduced a training programme for university executives to transform researchers into chief technology officers, reported Bangkok Post.

Nijaporn Chongudomliuk, chairman of the executive committee of ModGut Co, a startup in PMUC’s accelerator programme, shared insights into the company’s services. ModGut Co analyses gut microbiota to identify causes of chronic conditions and risks related to non-communicable diseases.

She mentioned that the company is in discussions for Series A funding, which could lead to product licensing in the Philippines, Singapore, and Vietnam, potentially extending into Western markets. ModGut Co was incubated by the ANT Accelerator at King Mongkut’s University of Technology Thonburi, in collaboration with Biotech Global Innovation Co Ltd.