Microsoft Innovation Center will assist tech start-ups
Microsoft Corporation, the world’s largest software maker, has joined with the National Science and Technology Development Agency (NSTDA) to open an innovation centre for tech business start-up entrepreneurs under the government’s digital economy policy.
“Building up new-tech start-up firms that create innovative products and services is a critical factor for Thais,” NSTDA president Thaweesak Koanantakool said yesterday.
“The government wants the digitaldriven economy to be used as a major tool to pull Thais out of the middle-income trap.”
The new Microsoft Innovation Center (MIC) at the Science and Technology Ministry on Rama VI Road affords young graduates and tech start-ups access to global technology resources provided by Microsoft as well as software and services. At the same time, it helps to match them with the global market and venture capital firms.
Microsoft previously operated its own centre at Rangsit University for eight years but created just 50 or so tech start-ups.
Mr Thaweesak said the NSTDA had set an ambitious goal of at least 200 tech start-ups a year despite Microsoft targeting only 100.
“We want to create as many as we can, as these start-ups have a survival rate of only 20-30%,” he said.
Microsoft Thailand managing director Haresh Khoobchandani said the MIC would provide digital training skills and knowledge transfers to local talent and turn them into digital-driven entrepreneurs.
Thailand’s MIC is one of 113 in 37 countries.
Meanwhile, the Thailand Tech Startup Association anticipates 500 local tech startups by year-end.
Mr Khoobchandani said the government’s digital economy policy would drive growth in the information and communications technology (ICT) sector.
Thai ICT spending is expected to grow by 10.5% to US$3.4 billion this year.
Moreover, Mr Thaweesak said the government was mulling changes to procurement regulations that would allow Thailand-based innovation firms to enter the public sector.