Malaysia wants to emulate Thailand’s digital park

Malaysia wants the bank to emulate the True Digital Park in Thailand to develop start-ups and innovative ecosystems. The 200,000-square-meter campus in the heart of Bangkok Cybertech District is the first technology and start-up campus in Thailand and the largest in Southeast Asia, primarily run by the private sector.

The campus is an interconnected ecosystem for start-ups and co-operatives for technology entrepreneurs, technology companies, investors, accelerators, incubators, academies and government agencies that help make Thailand a global hub for digital innovation.

Datuk Seri Mustapa Mohammad, Minister (Economics) in the Prime Minister’s Department, said the campus would create a complete start-up ecosystem to take the regional digital economy forward with state-of-the-art facilities. “The idea is good because it is funded by the private sector and supported by the government.

If possible, we want to duplicate the model to encourage start-ups and innovative companies in the country, “he told Barnama. Mustapa was impressed on campus during a visit to True Digital Park in the heart of Fra Khanang’s Bangkok Cybertech District on 22 April.

Thanasorn Zaidi, president of True Digital Park, gave him a briefing, after which he toured the digital park. The digital park includes innovation area (academy, lab), lifestyle area (retail, food and beverage, and wellness) and residential area (three high-rise condominium), event space, co-working space, flexible office space and government digital one- Stop service.

The park currently has more than 1,000 ecosystem players, including 900 start-ups, 52 corporate tenants and partners, 29 universities and academies, and 17 government agencies and associations. Big names in the park include Google, Mitsubishi, Huawei, UOB, Bosch and Rico.

The Digital Economy Promotion Agency (DEPA), another government agency, is also present at the park. It is responsible for the development of digital manpower and the promotion of the industry in Thailand. Foreign tenants can apply for a smart visa through the DEPA office at True Digital Park. The company also acts as an investor because it is the “only government company” that can hold equity from start-ups.

The agency assists start-ups in providing industry connections and advice in a variety of ways, from the moment they are born until they are unicorn. Regarding the imitation of True Digital Park in Malaysia, Fabian Bigger, CEO of MidDigital Corporation, said the private sector must evaluate the merits of such an initiative. “The Minister was impressed by the campus which was developed entirely by the private sector and commented that this kind of development should be replicated in Malaysia. “MIDGITAL CORP is ready to implement any decision of the cabinet,” he said. Source: The Edge Markets

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