SPACE-F Project Aims to Make Thailand ‘Silicon Valley of Food’ for Southeast Asia
by: The Beat Asia
October 12, 2022
With the aim to bolster food innovation industry in Thailand, the National Innovation Agency (NIA), Thai Union Group Plc., and Faculty of Science of Mahidol University have collaborated to launch the “SPACE-F.”
The goal of the SPACE-F project is to promote Thailand to become the "Silicon Valley of food for Southeast Asia" by bringing investment opportunities to Thailand's food tech sector.
In a report published by the Green Queen on Oct. 11, NIA Executive Director Dr. Pun-Arj Chairatana said that food security has become a global issue as a result of the COVID-19 pandemic, which has been exacerbated by population growth, climate change, a reduction in agricultural sector production, and food waste.
Dr. Chairatana believes that Thailand would be able to meet the increasing demands as they have an adequate supply of raw materials combined with the country’s “top-notch logistics service.” Despite these factors that demonstrate the potential of the Thai food industry to become "the kitchen of the world," the country appears reluctant to make use of and adopt new technology, he added.
The SPACE-F project offers innovative mentorship, business connections, and a co-working programme across various FoodTech startups and companies. Its purpose is to familiarize entrepreneurial startups with deep technology and innovation to improve their businesses as well as the food industry in general. Startups that will be part of the project will be mentored to help them participate in Southeast Asian and global markets, as per Dr. Chairatana.
The FoodTech industry is projected to bring in THB7.76 trillion by the end of 2025, while continuing to support the startup ecosystem.
Since its inception in 2019, the SPACE-F program has provided guidance to over 50 different FoodTech firms. Project alums continue to find success and attract investment from the private sector.
Subscribe to The Beat's newsletter to receive compelling, curated content straight to your inbox! You can also create an account with us for free to start bookmarking articles for later reading.