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Thai FoodTech start-ups to receive support

Image Credits: The Thaiger, News Report

According to a recent report, a global platform for early-stage start-ups announced its partnership with the National Innovation Agency (NIA), Thai Union Group and Mahidol University’s Science Faculty. The parties are collaborating the SPACE-F program that aims to build a sustainable ecosystem to nurture FoodTech start-ups in Thailand.

SPACE-F is the first global FoodTech start-up incubator and accelerator in Thailand and will provide innovative services and support to empower the next generation of innovation in FoodTech. There are two tracks to the program: Incubator track for initial stage start-ups; and Accelerator track for growth stage start-ups (Thai and non-Thai nationals), and it is accepting applications from now until the end of this July 2019.

Eligible applicant start-ups must innovate in one of the following areas: health and wellness; alternative proteins; smart manufacturing; packaging solution; novel food and ingredients; biomaterial and chemical; restaurant tech; food safety and quality; smart food services.

The SPACE-F program’s non-equity model allows founders to have full ownership of their ideas and products and at the end of the program (up to 15 months for Incubator and three to eight months for Accelerator), founders will have opportunities to meet qualified investors including Thai Union Group and other VCs and CVCs. Participants of the program will also be provided with unique expertise and guidance from local and global mentors.

By providing value beyond space, start-ups will be mentored in SPACE-F, helping them with the tools and knowledge they need to succeed, and leveraging the companies’ global expertise to support them through the program.

It was noted that now is the perfect time for FoodTech advancements, and along with the perfect partners for this program, the co-work space provider was excited to select Thailand as the first stop to launch its partnered Food Labs program and help bring to life some of today’s brightest ideas right here in Thailand.

The Labs arm of the company is its innovative platform that supports early-stage start-ups and corporations, and it has recently debuted its Food Labs program, which is the company’s first innovation space dedicated to powering the future of food and aims to support growing start-ups by bringing together entrepreneurs, industry experts and investors to build an innovative community to address the biggest challenges facing the global food industry.

In Thailand, the Labs arm partnered with the National Innovation Agency, Thai Union Group PCL. and Mahidol University to form part of SPACE-F’s unique cooperation – comprising government, private, and university partners – that supports the local ecosystem by enabling greater accessibility of resources for both ideas and start-ups to grow.

The Executive Director of the National Innovation Agency (NIA) stated that the aim is to create greater platforms for nurturing deep tech start-ups in the food industry and is delighted to partner with the co-working space firm and leverage its Food Labs platforms to further accelerate start-ups to grow beyond Thailand seamlessly.

Together with its strength in innovation, this will help foster new initiatives leading to a better quality of life, improved global food security and innovative job creation, as well as showcasing Thailand’s ability to compete on the global stage.

As innovation in the food industry is looked into further, it will help raise the competitiveness of Thailand’s food industry to international standards, the partnership will open new avenues for start-ups to prove their ideas.

In aiming to boost Thailand on the global stage, a new wave of FoodTech start-ups looking to disrupt the industry is expected to appear in the marker.

SPACE-F will be located at Mahidol University’s Faculty of Science and provides downtown lab access to high-tech machinery and instrumentation that will facilitate the research and development of great ideas.

Expanding to other countries is made easy with access to the co-working space firm’s workspaces in 60 locations worldwide, the support of its connections, as well as the NIA program of promoting start-up’s abroad.

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