Accra:Discussions have been held between key players in Thailand and Singapore to explore joint investment opportunities for startups. Professor Dr. Yotsanun Wongsawat, Deputy Prime Minister and Minister of Higher Education, Science, Research and Innovation of Thailand, met with Mr. Ng Boon Heong, Executive Director and CEO of Singapore's Temasek Foundation, to discuss potential collaborations with the National Innovation Agency (NIA). The goal is to bridge the gap between the two nations in nurturing startups across three future industries.

According to Thai News Agency, the discussions focused on co-investing to support startups in healthcare, climate change adaptation, and future food. The strategy includes using the SPACE-F project, a collaboration involving NIA, Thai Union Group Public Company Limited, and Mahidol University, to drive food technology innovations.

Professor Dr. Yoschanan emphasized the mutual advantages of this two-way collaboration. Temasek Foundation, known for funding social and environmental initiatives in Asia, aims to assist Thai startups in entering the Singaporean market while encouraging Singaporean startups to adapt their technology for the Thai market through localization. The funding strategy will involve grants from the Temasek Foundation, in conjunction with NIA, leveraging venture capital and private equity networks to ensure continuous support for startups. Additionally, business acceleration programs from both organizations will be linked to bolster this ecosystem.

This collaboration is seen as a vital mechanism to connect Thailand’s innovation ecosystem with regional investor networks, enhancing the joint technology development between Thailand and Singapore. Furthermore, the Temasek Foundation has been invited to manage the Global Innovation Challenge in Thailand in 2027, offering Thai startups a global platform to showcase their innovations.