Ten Japanese start-ups put forward their ideas to Thai investors

“Business cooperation between Japan and Thailand through co-creation is key to supporting and empowering start-ups to grow strongly as well as being an inspiration for start-ups in Thailand and ASEAN to do business to create a sustainable world,” CP Group CEO said.

If properly promoted and supported, it can attract investors to invest in ASEAN start-ups, thereby strengthening the regional economy, he added.

JETRO President Kuroda Jun emphasised Thailand’s important business role for Japanese companies and startups, saying that the event will foster close collaboration, resulting in positive outcomes for all parties.

He noted that this type of collaboration remains in its early stages, which means there is still work and support to be done.

METI Minister Nishimura said that METI was committed to providing various support measures, such as subsidies, loans, tax breaks, and systems, to ensure the “co-creation” that Rock Thailand generates between Japanese start-ups and Thai conglomerates.

Those supportive measures included approximately 25 billion baht to support deep tech start-ups’ overseas research and development projects, and another 5 billion baht to support overseas investment expansion in collaboration with domestic and international venture capital firms.

He then added that METI is now working to secure a budget of around 36 billion baht for emerging and developing countries as a whole.

“It is my conviction that if the public and private sectors in Japan and Thailand cooperate through various channels, we can co-create innovations that will contribute to solving societal challenges around the world. Japan will spare no effort in striking the balance between solving societal challenges and achieving growth in close collaboration with the ASEAN region,” he said.

True Digital chairman Natwut Amornvivat, one of the corporate venture capitalists, said that all start-ups are valuable and interesting to collaborate with.

However, he urged them to take into account the local Thai context when considering providing their solutions on a large scale in Thailand, as well as to be cost-conscious.

Rock Thailand is a pioneering initiative for fostering innovation. Since 2019, it has promoted strategic alliances between various innovative Japanese start-ups and Thai conglomerates.

This year’s 10 startups are Extra Bold, Caddi (Thailand), Recursive, Quwak, Spiber (Thailand), Thermalytica, Towing, Plant Life Systems, Kaico and Bacchus Bio Innovation.