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Shocking Tech Boom: Thai Innovation-Driven Enterprises Set to Amass 1 Billion Baht – the Science & Technology Revolution Begins!

NXPO president Kitipong Promwong recently expressed his confidence in Thailand’s steady growth in the fields of science, technology, and innovation. He highlighted the crucial role played by Chiang Mai University’s Science and Technology Park (CMU STeP) in fostering the development of small enterprises and boosting their revenue generation capabilities. A few years back, these enterprises were making merely 1 to 2 million baht, whereas now, they can generate up to a staggering 300 million baht.

Kitipong Promwong holds high hopes for the future, stating, “We firmly believe that we can achieve our ambitious goal of nurturing 1,000 innovation-driven enterprises, capable of generating a combined revenue of 1 billion baht, within the next five years.”

One of CMU STeP’s prominent projects contributing to an innovation-led economy is the path-breaking Uniform Thermal Distribution of Radio Frequency Technology (UTD RF). This revolutionary technology successfully eradicates weevils and their eggs from rice, ensuring complete safety for consumers and also raising farmers’ incomes. The UTD RF technology has already garnered widespread acceptance from the rice milling industry, cooperatives, and community enterprises alike.

Customers demonstrate a clear preference for rice treated with the UTD RF process, as opposed to grains that have undergone chemical treatment to eliminate weevils. The willingness to spend more on UTD RF-treated rice reflects the increasing demand for safer and healthier food options.

In addition to the UTD RF technology, CMU STeP director Tanyanuparb Anantana revealed that the agency is actively working on several other technologies and research projects spanning six major areas. These areas include:

  1. Offering laboratory services such as testing, calibration, and analysis for various industries.
  2. Providing expert consultation on every aspect of business operations, ranging from launching a business to successfully penetrating the market.
  3. Conducting comprehensive research and development to foster innovation-driven businesses.
  4. Facilitating seamless business matching and recommending appropriate funding sources for enterprises.
  5. Supplying working spaces and meeting rooms for businesses to function smoothly and efficiently.
  6. Delivering facilities and utilities tailored to suit the unique requirements of the innovation eco-system in the region.

With such projects and initiatives in motion, it is evident that CMU STeP and Thailand as a whole are making steadfast progress towards becoming a powerhouse in science, technology, and innovation, ultimately enhancing their economy and quality of life for their citizens. The unwavering commitment of organizations like CMU STeP towards fostering innovation-driven businesses will undoubtedly play a critical role in shaping the country’s future.

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