InnoSpace (Thailand) Announces a Year of Strategic Investments and Partnerships, Pledging $3M in 2024 for Emerging Technologies

Monday 18 March 2024 12:39
In a year marked by significant advancements and strategic collaborations, InnoSpace (Thailand), a leading force in the venture capital landscape, proudly announces its achievements for 2023 and sets an ambitious agenda for 2024. With a focused investment in cutting-edge deeptech startups, the initiation of two synergy projects with our esteemed limited partners, collaboration with international accelerators for global expansion, and a partnership with a renowned university and government agencies for the seamless transition from research to commercialization, InnoSpace (Thailand) continues to solidify its position at the forefront of technological innovation and venture capitalism with an investment plan of $3M in 2024.
InnoSpace (Thailand) Announces a Year of Strategic Investments and Partnerships, Pledging $3M in 2024 for Emerging Technologies

The summit promised an engaging and forward-thinking agenda, highlighted by a panel discussion featuring esteemed academics from leading universities in Thailand. These distinguished panelists delve into the critical topic of "How to Commercialize Research with support from University" offering invaluable insights into transforming theoretical knowledge and scientific breakthroughs into market-ready solutions and products.

In addition to the enlightening panel discussion, the Innospace Summit 2024 also fosters an environment of collaboration through its unique business matching opportunity. This segment of the summit is designed to connect startups with government agencies, paving the way for partnerships that can benefit from grants and other forms of support. This initiative aims to not only fuel the growth of startups but also to encourage the practical application of research in addressing market needs and challenges.

Strategic Investments in Deep Tech Startups

In 2023, InnoSpace (Thailand) made significant investments in two startups, catapulting them onto the global stage. With one co-investment in cutting-edge deeptech startup in biotechnology together with Innovation One, managed by FTI. These startups, specializing in Biotechnology and Satellite image processing, have demonstrated potential to disrupt their respective industries, promising revolutionary changes that align with our mission to back ventures driving the future.

Synergy Projects and International Collaborative partnership.

Our firm initiated two groundbreaking synergy projects in collaboration with our limited partners (LP), fostering an environment of mutual growth and innovation. These projects not only leverage our collective expertise but also aim to address pressing global challenges through technological advancements. Understanding the importance of global markets, InnoSpace (Thailand) partnered with leading international accelerators in 2023. This strategic move not only broadens our portfolio's geographical footprint in Hongkong and Mainland China but also provides our startups with the invaluable exposure and resources needed to succeed on the international stage.

Bridging the Gap: From Research to Commercialization

In a landmark collaboration, InnoSpace (Thailand) joined forces with several leading universities and government agencies such as Mahidol University, Chulalongkorn University, Kasetsart University, Regional science parks, PMU-C, depa, NSTDA, TCELS, NIA, bridging the gap between academic research and commercial success. This partnership underscores our commitment to fostering innovation that not only emerges from the lab but also thrives in the marketplace, delivering real-world solutions.

Looking Ahead: A $3M Investment plan for 2024

With an eye on the future, InnoSpace (Thailand) is excited to announce a plan to invest $3M in 2024, focusing on three key sectors: Industry 4.0 with AI/ML and sustainability tech, Food for the future, and Health Technology. This investment underscores our confidence in the transformative power of technology and our ongoing commitment to nurturing the next generation of innovators and entrepreneurs as Thailand New S-Curve.

InnoSpace (Thailand) at a glance

InnoSpace, a venture capital firm established by a consortium of 16 leading companies in Thailand, with a mission to fuel innovation and technological advancement, InnoSpace has made a significant impact by investing in 18 promising startups (with 1 exit), achieving one notable exit, and deploying a total of $2.5 million in investment capital. Demonstrating a commitment to accelerating growth and innovation, InnoSpace is actively seeking matching fund or fund-of-fund opportunities to further support and enhance investment in Thailand's vibrant innovation landscape and aims to cultivate a thriving environment for startups to develop groundbreaking solutions and drive economic progress.

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Source: 888Ideas

InnoSpace (Thailand) Announces a Year of Strategic Investments and Partnerships, Pledging $3M in 2024 for Emerging Technologies