The Japan External Trade Organisation (JETRO) supports collaboration between Japanese startups and Thai businesses, aiming to strengthen sustainable technology partnerships.
There are now approximately 6,000 Japanese companies operating in Thailand, making Japan the third-largest foreign investor here after China and the United States.
Japan has been a significant trading partner for Thailand, particularly in advanced technology and innovation. Japanese businesses view Thailand as an attractive investment destination.
JETRO, in collaboration with CP Group, Thai ministries of economy and trade and industry, as well as True Digital Park, recently organised the 5th Rock Thailand event on November 4.
Titled “Empowering Growth in ASEAN”, the event provided opportunities for Japanese startups to showcase innovative products and expand their businesses in Thailand.
These startups were carefully selected for their products that cater to the needs of the Thai market.
Yasutoshi Nishimura, Japan’s Minister of Economy, Trade and Industry, emphasised the strategic collaboration between Japanese startups and Thai companies at the Rock Thailand event. Both countries have established crucial supply chains, particularly in the automotive industry.
Participating Japanese startups represent various sectors, including artificial intelligence (AI) technology, biotechnology, and more. Ten companies, including Extra Bold, CADDI, Recursive, Quwak, Spiber, Thermalytica, TOWING, Plant Life Systems, KAICO, and Bacchus Bio Innovation, presented their innovative products and solutions at the event.
The startup Extra Bold, which specialises in 3D printing technology, stands out for its manufacturing of large-scale 3D printers capable of producing items quickly. They focus on using recycled materials to reduce the use of new resources, aligning with sustainable practices.
Recursive, on the other hand, focuses on sustainable AI innovation, aiding businesses in predicting various risks, such as disaster and health threats, and providing valuable data for research and work purposes.
Among other startups is Spiber, which produces Brewed protein, a synthesised protein derived from plant biomass, which can be transformed into long fibres suitable for textile industries or further processed into synthetic leather.
Then there is KAICO, which utilises silkworms to produce protein powder and liquid for vaccines, contributing to the development of animal and human vaccines.
These startups aim to not only revolutionise their industries but also address social challenges. Strong support comes from the Japanese government, both financially and through various incentives such as research and development projects worth 25 billion baht for advanced technology startups, and a 5 billion baht budget to support foreign investments.
This well-positions Japanese startups to collaborate with Thai businesses and create innovative solutions for both countries and the global community.
Kuroda Jun, President of JETRO Bangkok office, concluded the event by emphasising its potential to facilitate collaboration between businesses from both countries.
Thailand remains a vital part of the ASEAN and Asia-Pacific supply chains for Japan. JETRO aims to facilitate the transfer of Japanese technology to Thailand and promote collaborative business models between the two nations, fostering sustainable innovation and a mutually beneficial future.
Source: The Nation