Bangkok, 14 June 2022 – True Digital Park in partnership with New Energy Nexus (Thailand) announces the launch of a program to support decarbonization according to the National Energy Plan 2022 called ‘Decarbonize Thailand Startup Sandbox’ (DTS). This program facilitates five industry leading corporations to engage with climate tech startups in a 3-month Sandbox pilot project. The program will help climate tech startups and corporate partners to accelerate their collaboration and knowledge exchange, while also supporting the national goal of reaching Net Zero emissions and accelerating a decarbonized economy.
Dr. Tarit Nimmanwudipong, General Manager of True Digital Park (TDPK) says that TDPK, the biggest tech and startup hub in ASEAN, has partnered with New Energy Nexus (Thailand) to help local and international startups strengthen decarbonization businesses. From this collaboration comes the ‘Decarbonize Thailand Startup Sandbox’ – a space giving the opportunity for startups to connect and collaborate with experts from different industries. They can meet with mentors to adjust and develop specific solutions for targeted high-emitting industries, as well as learn from experts and expand their network.
The project is supported by B.Grimm Power, C.P. Group, IRPC, PTT and True Corporation. Interested startups can apply.
“Following PM Prayut Chan-o-cha’s announcement that Thailand will achieve carbon neutrality by 2050 and Net Zero by 2065 after joining COP26, we have seen several organizations declaring similar goals in reducing emissions. At the same time, we feel there is a lack of activities in the business sector to work together and support investment in innovation to build technology, people and startups. It is crucial that we create a collaborative platform to connect stakeholders within the industry and startup entrepreneurs with relevant technology in reducing carbon emission together.”
“The Decarbonize Thailand Startup Sandbox is set to bring about a unique opportunity for both local and international startups in order for them to expand business opportunities and increase sustainability for high-emitting industries in Thailand. They will be supported by industrial experts and mentors from the New Energy Nexus Ecosystem who will be sharing their knowledge and experience. The teams selected from the Startup Selection Event will be partnered with Thailand’s leading organizations and work closely together in the Startup Sandbox for 3 months. Corporates will have the opportunity to engage and support startups relevant to the challenges they are facing, while startups will be able to gain insights into the Thai market, test their business feasibility in the Thai context, backed by a corporate. ”Those interested can join as a team, whether from companies, startups or as individuals. The requirement would be to support the private sector in mitigating industrial carbon to achieve Net Zero in Thailand, together with the selected corporates and readiness to explore the Thai market” said Dr.Tarit
Mr. Stanley Ng, Program Director at New Energy Nexus (Thailand) stated:“New Energy Nexus’ mission is to support innovations in climate and energy. Since 2004 we have impacted thousands of entrepreneurs and leveraged over 1.5B USD in investment into these startups. Decarbonization is a huge economic opportunity for both climate startups and industry leaders. With the Decarbonize Thailand Sandbox, we want to support these leaders to realize their decarbonization goals while building a healthy ecosystem of climate startups in Thailand.”
The Decarbonize Thailand Startup Sandbox program will proceed as follows:
1. Startup Selection & Pitch Event: On July 16-17, 2022, Thai and international startups are welcomed to engage industry experts and present their technology solutions for a chance to match with partner organizations and join the DTS Startup Sandbox in the next phase.
2. Startup Sandbox Phase: From August 1 – October 31, 2022, the Startup Sandbox phase will be the time where paired startup-corporate teams work on developing their proof of concept of their solution in decarbonizing the business and industrial sector together. During these 3 months, startups will receive support in the form of resources to work such as masterclass workshops, consultations with corporate mentors and experts in an optional provided workspace.
3. DTS Symposium: This will take place in November 2022. The symposium will feature conferences and activities to build collaboration between startups, public and private sectors, leading organizations from different industries, researchers, economists and individuals within the climate and innovation field. The aim is to discuss the challenges, opportunities and future of Thailand in the face of climate change and the transition to a low carbon economy.
Mr. Ng concluded that in addition to providing an opportunity to match with the country’s leading corporations to expand their business opportunities, startups that participate in the Decarbonize Thailand Startup Sandbox will also receive several other benefits such as workshops and access to international experts, as well as receiving insights from corporate mentors who will assist startups to customize solutions for potential proof of concepts. Furthermore, New Energy Nexus has a network of mentors who will provide consultation in developing successful projects in clean energy and decarbonization. They will support Thai startups to gain access to investment opportunities, and advise on growth and expansion.