Techsauce reveals strategy to make Thailand tech, innovation hub

During the event at Conrad Hotel in Bangkok, the agency’s CEO and co-founder Oranuch Lerdsuwankij said the strategy was a part of its partnership with the government and private agencies to achieve the aforementioned goal by 2030.

She confirmed that the timing was right to launch these strategies, saying that several technology companies have plans to expand investment abroad, especially in Asia.

“Thailand needs to boost potential in technology to draw foreign talents and investments, as well as boost Thai tech talents’ competitiveness in the global market,” she said.

Oranuch outlined the four-step strategy, comprising seven shared objectives to bolster investment within Thailand, attract top-tier talent, and stimulate increased business activities domestically.

The plan also covers the expansion of Thai enterprises abroad, positioning them as conduits for Thailand’s ascent to the forefront of global innovation.

Summit for innovative work

Techsauce announced the launch of the Techsauce Global Summit 2024 at the Queen Sirikit National Convention Centre in Bangkok from August 7-9 to ensure the continuity of Asia's foremost cutting-edge technology event. It assembles a formidable alliance of technology partners from both the public and private sectors in Thailand, alongside more than 300 foreign companies from 40 countries worldwide.

“Last year's summit generated more than 300 million baht in economic growth for Thailand, which aligned seamlessly with the agency’s mission to catalyse technological investment within Thailand, alongside attracting foreign capital inflows and fostering the growth and global expansion of Thai SMEs [small and medium-sized enterprises] and startups,” Oranuch said.

“Moreover, it underscores our commitment to fostering robust knowledge-sharing within the tech industry, nurturing Thai entrepreneurs in technology and innovation.”

She added that similar events were scheduled to be held in Indonesia’s Bali on September 12-13, and Vietnam’s Ho Chi Minh on October 11.

Thailand’s digital transformation

The Digital Economy and Society Ministry said that Techsauce’s bid to drive Thailand as the technology gateway aligns with the ministry’s plan to enhance the competitiveness of the Thai digital startup sector.

“This comprehensive strategy encompasses various initiatives, such as the establishment of platforms to promote Thai startups, 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,” said Digital Economy and Society Minister Prasert Jantararuangtong.

He affirmed that the government was also paying attention to the adoption of artificial intelligence to enhance the country’s economy and society, as well as boosting competitiveness in the digital market.

If the plan succeeds, Thailand would have an advantage in digital competitiveness, and become a technology gateway to the region, he added.