Nestlé (Thai) has signed a memorandum of understanding (MoU) to collaborate with the National Innovation Agency (NIA), Thai Union Group Plc and Mahidol University through the SPACE-F programme, Thailand's first global food tech startup incubator and accelerator.
The SPACE-F programme has been running since 2019. The programme has already supported a portfolio of 60 local and global startups that have successfully raised over US$63 million.
"We are delighted to join the SPACE-F programme to drive innovation. We believe that collaborating with diverse sectors on the programme is key to driving Thailand's food industry to deliver a future of food that is both 'Good for You' and 'Good for the Planet', aligned with the company's strategic focus," said Victor Seah, chairman and chief executive of Nestlé Indochina.
"We will work together with our programme partners and entrepreneurs to innovate more products that are both tastier and healthier, and address sustainability challenges faced by the food industry and the nation," he said.
Minister of Higher Education, Science, Research and Innovation Supamas Isarabhakdi said the SPACE-F programme stands as a cornerstone initiative of the ministry, focusing on fostering and developing the potential of food tech startups to grow and innovate, thereby reshaping the food industry to become more robust and sustainable both nationally and globally.
It is also expected to drive Thailand to become an "Innovation Nation" and move up to 30th in the Global Innovation Index within 2030.
"The SPACE-F programme has been encouraging innovation-driven entrepreneurship, with a focus on pioneering trends of the future such as health and wellness, alternative proteins, smart manufacturing, sustainable packaging solutions, and smart food services," added Krithpaka Boonfueng, executive director of NIA.
The SPACE-F programme provides an alternative platform to help startups transform their creative ideas into successful products or business globally.
Significantly this year, Nestlé joins SPACE-F to bring its expertise to the programme and offer opportunities for both global and local startups to collectively shape the future of food innovation, Ms Krithpaka said.