Thailand’s National Innovation Agency (NIA), in collaboration with True Digital Park, has launched an innovation platform for startups, says a report by Bangkok Post.

The platform, called Bangkok Cyber Tech District, which is located in True Digital Park in the Punnawithi area in the city, aims to house more than 20,000 local and international startups.

The facility intends to encourage open innovation by supporting multinational tech companies, startups and entrepreneurs, universities, venture capital firms, investors, and public agencies. This way, startups will be able to share and transfer knowledge which will in turn lead to innovation.

NIA expects to invite around 50 international startups per year to set up base in Thailand.

As per this report, search engine giant Google also plans to set up Google Academy there. More tech giants are expected to announce their plans next month.

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The first phase of True Digital Park, spanning over 77,000 sq.m, is scheduled to open at the end of this year, with the second phase a few years later.

Pun-arj Chairattana, Executive Director of NIA, said the district will serve as a landing pad for foreign startups and a launching pad for local startups.

“It will not only serve as a centre for digital innovation and support the next-generation workforce that is connected and in tune with more digital lifestyles, it will be a comprehensive innovation district offering a complete system that supports startups in Southeast Asia, attracting both domestic and international businesses to Thailand,” he said.