EGAT invests 100 million baht in InnoSpace to support Thai startups
7 September 2021EGAT supports the investment and growth of Thai startups by investing 100 million baht in InnoSpace (Thailand) Co., Ltd., (InnoSpace) with an aim to increase Thailand’s competitiveness through innovations.
Miss Jiraporn Sirikum, EGAT Deputy Governor – Strategy, reveals that EGAT has been placing importance on raising the competitive position of the country by supporting innovations covering knowledge sharing and investments. Recently, EGAT has invested 100 million baht in InnoSpace to support the sustainable growth of Thai startups, in accordance with the resolution of Thai’s Cabinet dated July 13, 2021. This investment aims at driving the innovation development in new S-curve industries of Thailand, responding to the new normal lifestyle, and preparing the country for new business challenges.
EGAT is one of sixteen investors of InnoSpace, a joint venture with a 700-million-baht investment fund and over 10 fund-approved companies. The InnoSpace has plans to invest more in deep-technology startups such as power system technology, biotechnology, and medical technology. Interested startups can propose their projects in Thailand’s potential businesses to the joint venture or directly to EGAT. EGAT will study and choose interesting energy-related startup technologies to develop for its business operations, as well.
