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Thailand’s New Digital Park Will Drive Digital Transformation

Thailand True Digital Park

Southeast Asia’s start-up ecosystem has been booming recently, being earmarked as one of the most attractive destinations for investors. Thailand, in particular, is a nascent market for entrepreneurship. The Thai government has been working to build the country’s tech ecosystem in recent years.

The National Innovation Agency, a government agency aimed at encouraging innovation, overhauled its financial support programme for start-ups to help move progress along quicker and allowing them to access THB44 billion in funding.

The agency’s main goal is to build 3,000 innovation-based start-ups in the next decade, to nurture the start-up ecosystem and generate growth. It also works in partnership with True Digital Park (TDPK), the country’s first and Southeast Asia’s largest digital innovation hub.

Based in Bangkok, the global start-up destination is a playground of sorts for innovation, providing space for work and daily living in an integrated community. Initiatives like these really emphasise Thailand’s dedication to a digital transformation.

When talking about digital transformations, the first thing to come to mind for most people is simply shifting daily manual processes and activities into a digital framework. However, the process is far more complex than that.

A digital transformation in the business context involves fundamentally changing the way a firm operates and delivers value. It also encompasses cultural change that requires organisations to continually challenge the status quo, experiment, and get comfortable with failure.

Thailand’s TDPK is where such digital transformations can find their genesis. With the sheer amount of talent and investment that the park brings together, it provides crucial knowledge creation that is supportive of digital innovations. By positioning itself as a hub where innovation thrives and sprawls, TDPK empowers the region’s startup ecosystem and boosts its potential exponentially.

Bridging the Region Together

In September 2019, TDPK held a tech conference, Togetherness of Possibilities, which aimed to inspire and share knowledge and experiences among startups, businesses, and government agencies.

New technologies and innovation labs were exhibited by partners of the space, from public and private sectors, as well as top executives and entrepreneurs whose work is designed at driving more sustainable digital economic development in Thailand and the SEA region.

Innovation and digital technology are the driving forces behind digital transformation especially for enterprises and industries that need to change their business model and apply digital technology to create added value for products and services.

Digital technology also plays an important role in making communities, societies, healthcare, and the environment better. It reduces the income divide and helps to sustainably create prosperity for Thailand.  True Digital Park has been developed to increase Thailand’s competence through innovation, creativity, and technology. All these factors combine to create sustainable economic growth in the long run.

The conference provided an excellent opportunity for budding entrepreneurs to meet with experts and highly-rated speakers from leading companies and start-ups from Thailand, as well as other countries.

Integration and Support from the Region

  • It has been made apparent that there is a need in Southeast Asian tech ecosystems to integrate and support one another.
  • Malaysia, Singapore, Vietnam, Thailand already have programmes to help ASEAN start-ups. Joining forces would enable data sharing and thereby encourage investments.
  • Most venture capitals do not only think about investing in one country; they see it as investing in Southeast Asia as a whole. Hence, there is a need to collaborate and use existing programmes as landing and launching pads, and exchange programmes, to help start-ups.
  • Congregations of tech players like TDPK’s Togetherness of Possibilities are essential in building networks and strengthening local startups in the region.

TDPK’s Role in Thailand’s Digital Transformation

TDPK reflects Thailand’s commitment to sustainable development in both the country and the region. It recognises the difficulties local start-ups face when it comes to accessing investors or the wider market, and how they lack deep technology and are actively creating opportunities and putting in measures that will help these start-ups gain a more global perspective. Despite being slow to start with, the Thai ecosystem is gaining speed and attracting attention from all around the world.

TDPK recently announced the completion of its start-up ecosystem, reinforcing how prepared it is to drive the regional digital economy forward.

TDPK’s focus on building a complete start-up ecosystem that encourages connectivity and knowledge-sharing has driven its mission to help start-ups and tech entrepreneurs reach their full potential forward. In order for this innovation hub to thrive, TDPK and other Thai agencies, both public and private, must seek out more collaborations and capital from other Southeast Asian hubs.

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Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

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SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and consulting services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,800 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity, and service. For more information, visit www.ibm.com