Amid the rise of the digital economy and tech-driven capitalism, PTT moves forward to join hands with a leading tech-platform in Silicon Valley to drive the Thai economy
With the intention to transform Thailand through digital transformation, PTT Public Company Limited declares its collaboration with Plug and Play Tech Center, an innovation platform company based in Silicon Valley. The collaboration will groom Thai and international investment start-ups with Paypal, Dropbox or LendingClub in their portfolio with the intention of raising national competitiveness under the Powering Thailand’s Transformation initiative.
PTT hopes to create an international Innovation Ecosystem with the Partnership and Platform strategy to become more than just a manufacturer and distributor. To this end, it hopes to attract potential partners such as large firms and tech start-ups globally, through Plug and Play, as an accelerator platform to drive its business.
Mr. Worawat Pitayasiri, PTT Senior Executive Vice President, Innovation and Digital, comments that, “The collaboration is a good opportunity for us to make the most of our potential to be creative and innovative, and then achieve concrete outcomes.”
“It is also an opportunity to learn from leading companies and use what we learn to improve, so PTT and Thailand can compete globally.”
In doing this, PTT will have more partnership channels and earn more recognition. This will enable the company to establish direct contact with tech companies. Moreover, data obtained from different start-ups and firms can be invaluable for PTT itself in extending the company’s s-curve with its ExpresSo team.
Expert at innovation and tech business, PTT ExpresSo has a firm hold on three blueprints.
New Energy is the idea of building a business with alternative energy for sustainability and energy security by adopting technology for effective maintenance of solar cells for example.
New Mobility is the notion of improving domestic transport systems to reduce pollution for better quality of life for people, including battery production for electric cars.
New Industry is the concept of driving Thailand’s capacity to compete under Industry 4.0 management and maintain national economic security such as artificial intelligence (AI) systems for factories.
“We are glad to work with PTT,” said Shawn Dehpanah, VP, Corporate Innovations, APAC. “Leading tech companies will collaborate, including companies in energy and sustainability, real estate, autos, internet of things (IoT), and health. They are ready to solve problems in response to PTT’s needs, especially how to develop alternative energies, drive new transport forms and propel Thai industry into Industry 4.0.”
With over 32 global affiliations, the Plug and Play platform brings together over 400 leading corporations and start-ups, including DuPont, Convestro, Tetra Pak, Johnson & Johnson, Mercedes-Benz, Dyson, P&G, BNP Paribas, ExxonMobil, Yamato Holding, Bangchak Corporation, Krungthai Bank, and many more. It also facilitates over 50 business accelerations and supports more than 10,000 start-ups every year.