FOOD INDUSTRY START UP DEMOS HELD IN THAILAND
Food industry start up demos held in Thailand. SPACE-F, the first global food-tech start-up incubator and accelerator in Thailand, hosted a ‘Demo Day’ to allow a group of Thai and international start-ups to present their companies to a group of investors.
The seven start-ups, whose business models for their ideas and products have been developed during the SPACE-F Accelerator programme, delivered presentations to about 70 guests including venture capitalists, investors and representatives from commercial financial institutions based in Thailand. Their products are now being fine-tuned to the needs of the market and customers.
After spending the past four months at the SPACE-F programme, co-founded by Thai Union Group PCL, Mahidol University and the National Innovation Agency, the accelerators said they feel ready to upscale their businesses.
“A rapid increase in the world population has created a global challenge around how we can deal with the rising demand for food in both quantity and quality. SPACE-F, with its focus on food-tech start ups, responds well to global concerns about food supply,” said Dr. Pun-arj Chairatana, Executive Director at the National Innovation Agency (NIA). “At the NIA, we work very hard to support young companies, as Thailand is looking to become a hub for food-tech startups. We provide advice on visa applications for foreign entrepreneurs, there is possible support from Thailand’s Board of Investment Office (BOI) including funding for Thai start-ups to develop prototype products. Lastly, being based in Thailand, the SPACE-F program offers close proximity to various F&B markets and food supply chains.”
“SPACE-F was established with an intention not only to help food-tech start-ups to grow and be successful but also to create a food-tech ecosystem. The programme has been a proof positive of collaboration between the government, academia and the private sectors contributing to the industry,” said Thiraphong Chansiri, Thai Union Group CEO, “As one of the world’s leading seafood producers, we have committed to innovation as a key driver to our future success. We continue to offer innovative products to consumers and keep pace with continuous lifestyle changes and sustainability impacts.”
“Mahidol University is very happy to support SPACE-F and excited to see its journey to success today. To encourage an innovation ecosystem, further collaboration with other offices within the university have been put in place to help start-ups achieve their goals,” added Prof. Dr. Bunjong Mahaisawariya, Acting Rector, Mahidol University.
SPACE-F is open to start-ups innovating in health and wellness; alternative proteins; smart manufacturing; packaging solution; novel food and ingredients; biomaterial and chemical; restaurant tech; food safety and quality; and smart food services. With a non-equity model, it allows founders to have full ownership of their ideas and products.