Techsauce Media Co, Thailand’s leading technology-oriented content provider, announced on February 22, 2018 that it will host its third annual international technology conference on June 22 and 23, 2018. The event is considered Southeast Asia’s biggest technology conference, aimed at connecting tech ecosystems in the region together with a range of global tech players, such as Techstars, to share their experience. It also highlights the key trends –AgTech, FoodTech, HealthTech, Living Tech and EnergyTech – which will help support better life and create social impact.
Chief executive and co-founder Oranuch Lerdsuwankij said its third edition will take place at Centara Grand at Central World. The Summit is aimed at raising the bar for technology ecosystems across Thailand and the countries in Southeast Asia. Knowledge sharing and networking among entrepreneurs, investors and stakeholders in the event are expected to bring tangible changes into the industry.
More than 200 key speakers around the world, ranging from CEOs, investors and technology specialists will attend the event to share their thoughts and experiences. For instance, David Brown, co-founder of Techstars, the world’s leading accelerator house, Joseph Lubin, co-founder of Ethereum, the world’s hottest Cryptocurrency exchange platform and Mike Peng from IDEO Tokyo.
This year, Techsauce Global Summit is overwhelmingly sponsored by Thailand’s leading corporations, of which Siri Ventures Co, True Digital Park, PTT Plc, Advance Info Service Plc, Line Company (Thailand), dtac accelerate, Digital Ventures Co by SCB, Muang Thai Insurance Plc, AddVentures by SCG and Thailand Convention and Exhibition Bureau (TCEB), etc.
Ms.Oranuch said: “This year we want to see the extensive use of technology in other industries, particularly in food and agriculture sector, where Thailand plays a crucial role in the global stage. A huge chunk of Thai population is in the sector. Food and agriculture technology (FoodTech and AgTech) will make radical changes by adding more value into commodity products, generating more revenue and make a better life eventually.
In addition, health, wellness and energy should be empowered by technology, which will lift the quality of life and make positive social impact.
“Bringing the extensive use of technology into people’s lives is very essential, which will bridge the gap in the society and help develop the country to the next level. AgTech, FoodTech or HealthTech need to be focused on as we have seen in many countries, where they held very specific tech fairs,” said Ms.Oranuch.
Techsauce Global Summit 2018 has a total of 10 stages, divided into 2 groups. First, topics on social technologies for enterprises, which range from AgTech&FoodTech, HealthTech, LivingTech to FinTech. This is expected to encourage businesses, startup and technology enthusiasts to join a task force of social change.
The other group will keep you updated on the state of the art technology, giving you a broader view of what happens in the innovation world, which covers startup, venture capital (VC), deep tech showcase and head-to-the-future, blockchain and cryptocurrency, AR&VR as well as data science and AI. This will enable stakeholders in startup industry to catch up with technological trends with more than 200 topics from 10 stages.
Ms.Oranuch added: “Apart from seminar, there are many more key activities, such as business matching, the final round of startup’s investor pitch deck from more than 20 countries across Asia and Oceania continent. Amidst the rapid pace of technological changes that fundamentally shaped industries, we expect that the Summit would lure more than 10,000 attendants, up 40% compared to last year, thanks to the rising numbers of startups launched by domain experts”.
Southeast Asia tech boom
Thailand is strategically positioned between three of the fastest growing economies in the world, India, China and Southeast Asia making Bangkok the new convergence point of a rapidly advancing Asia.
Southeast Asia has seen a massive influx of investment in recent years with foreign direct investment in the region growing from $20bn per annum to over $120bn in just 15 years. Its expected the region will see economic growth of 5% over the next ten years to emerge as the fifth largest economy in the world by 2020.
The resulting influx of investment and economic growth has had a massive impact on the tech sector in the region. Since 2012, funding for tech start-ups in the region has increased by a dramatic 18,000% from $280m to $6.4bn in 2017. The number of deals has also increased from 22 in 2012 to over 500 in 2017.
Singapore, Malaysia and Indonesia have seen the lion's share of investment but countries like Thailand, Vietnam and Philippines are beginning to see rising levels of investment and the creation of their own tech ecosystems. It’s estimated that Vietnam, for example, has 14,000 tech firms with 1,000 new tech start-ups every year. The sector didn’t exist in 2002 but is now attracting investors from all over the world including US fund 500 Startups.
Tipping point approaching for Thailand?
Momentum in the Thai tech ecosystem is also beginning to rapidly increase rapidly. Just six years ago only $1m of disclosed investment was secured by Thai tech start-ups but this year it’s expected to reach over $100m. The number of funded start-ups has also increased from 3 to 75 over the same period with a similar rise in the number of active VC’s and angel funds in the country.
VC funding is now in excess of $300m with hundreds of corporations backing thai start-ups resulting in more accelerator programmes and M&A’s. Over a five year period, $108m in deals have taken place with the majority completed in 2016. The Thai government also recently announced a $570m investment fund for early stage start-ups to encourage rapid growth in the sector.
The Thai start-up scene has an established reputation in e-commerce with companies like Zilingo, Ookbee and Orami raising significant rounds in recent years but the sector is beginning to diversify with fintech start-ups such as piggipo, stockradars and Finnomena emerging.
Techsauce Global Summit 2018 is designed for startups, technology enthusiasts and those companies who are going towards digital transformation.