NIA has facilitated a suitable and conducive ecosystem for the development of deep tech for the food industry.
SPACE-F program supports innovative food businesses covering 9 key FoodTech trends, namely, Health & Wellness, Alternative Proteins, Smart Manufacturing, Packaging Solutions, Novel Food & Ingredients, Biomaterials & Chemicals, Restaurant Tech, Food Safety & Quality, and Smart Food Services.
The National Innovation Agency (Public Organization), Thailand or NIA continues its support in scaling up the FoodTech startups through the 2022 edition of the “SPACE-F” project. With aims to encourage investment opportunities for the Thai food sector and encounter global food security crisis, the agency targets to stimulate the use of deep tech as the main engine to drive Bangkok towards becoming the FoodTech Silicon Valley – an innovative food hub of Southeast Asia and the world.
Dr. Pun-Arj Chairatana, Executive Director of NIA said, “According to the State of Food Security and Nutrition in the World 2022 report by the UN, more than 800 million of the world population, or around 10 percent, are now suffering from hunger in the effect of the COVID-19 pandemic, economic crisis, shortage of raw material, and the decline of food safety. If we focus on food security in Thailand and around the world during the COVID-19 outbreak, all countries are fronting the same distressing situations where travel restrictions have caused a shortage of food supply. And as the world’s population is increasing rapidly, coupled with climate change, the decline of agricultural labor, and food waste resulting from mass consumption; global food security is now a serious issue that needs to be solved.”
“By the end of 2025, the FoodTech industry is expected to be worth 7.76 trillion baht. And with our vision and commitment to supporting the startup ecosystem, NIA will continue to drive Bangkok towards becoming the Food Silicon Valley using SPACE-F as the main mechanism. SPACE-F, initiated 3 years ago, has mentored more than 50 FoodTech startups to embrace innovation and technology for their growth. Graduates from the project are now blossoming and have received continued investment from the private sector, especially the Alternative Proteins. These new economic warriors will play pivotal roles in shaping the sustainable future of global food security,” Dr. Pun-Arj concluded.
The ‘SPACE-F’ project has initiated in 2019 to incubate and accelerate the growth of FoodTech startups in Thailand. The project brings together FoodTech startups and corporates through innovative mentorship, business connections, and a co-working program.