Deep tech startups spawned

The Program Management Unit for Competitiveness (PMUC), a research funding unit under the Higher Education, Science, Research and Innovation Ministry, has successfully nurtured more than 90 Thai deep tech startups and innovation-based entrepreneurs, resulting in an economic value of more than 965 million baht.
“The PMUC sees the potential of research work in universities that are innovative and use advanced science and technology capabilities and local materials to commercialise products and benefit the country’s economy,” said Thongchai Suwansichon, director of the PMUC.
The PMUC held its PMUC CON- NECT event this week to connect startups with investors as a way to push deep tech startups into the global market.
Over the past five years, the PMUC has invested 250 million baht from its budget to connect nine universities and agencies that have been able to create 12 deep science and technology accelerator programmes that help groom and develop deep tech startups during the pre-venture stage to commercialise innovations.
A deep tech startup refers to a business that uses deep science and technology to develop products and services, which is considered key to advancing Thailand’s new economy.
The PMUC supports universities creating their own deep science and technology accelerator platforms that navigate research work to make it visible to the market, assisting researchers in understanding target markets and facilitating business matching with investors to deliver innovations to the market, said Mr Thongchai.
“We have a wide range of science and technology work ranging from foodtech, medical and wellness, herbs, robotics, and biotech, depending on the university’s expertise,” he said.
Through the accelerator programmes, the PMUC connects and collaborates with the accelerators to expand the university’s research from its laboratory to the production phase, market testing, intellectual property registration and valuation.
In fiscal 2025, the unit will focus on promoting these accelerators to expand into the global market by connecting them with embassies and accelerators overseas, mainly in Singapore, Sweden, the UK and Hong Kong.
This will enable the startups to learn from overseas market opportunities and the regulatory framework of each country.
The PMUC also links startups overseas that are interested in investing in or expanding into Thailand.
Mr Thongchai said with the PMUC’s support, investors will feel confident in the startups.
Moreover, the PMUC launched a training programme for university executives to help turn researchers into chief technology officers.
Nijaporn Chongudomliuk, chairman of the executive committee of ModGut Co, a startup under the PMUC’s accelerator programme, said the company offers a service to analyse gut microbiota to identify the causes of chronic conditions and risks pertaining to non-communicable diseases.
She said the firm is discussions over Series A funding, as it has the potential to license products to the Philippines, Singapore and Vietnam, which would help it to springboard into Western markets.
The firm was incubated by the ANT Accelerator at King Mongkut’s University of Technology Thonburi, in cooperation with Biotech Global Innovation Co Ltd.