Dr. Arjakkana Siboonruang, Minister of Science and Technology, honored as the chairperson at the signing ceremony of the Memorandum of Understanding for the Development of Startups in Property Technology and Urban Technology (PROPERTYTECH & URBANTECH) at the Queen Sirikit National Convention Center. This initiative is a collaboration between the National Innovation Agency (Public Organization) or NIA, the Thai Real Estate Association, the Town Planning Association, 11 real estate associations, and 8 urban development companies, totaling 21 organizations, including:

  1. National Innovation Agency (Public Organization)
  2. Thai Real Estate Association
  3. Rayong Real Estate Association
  4. Khon Kaen Real Estate Association
  5. Phuket Real Estate Association
  6. Songkhla Real Estate Association
  7. Chonburi Real Estate Association
  8. Nakhon Ratchasima Real Estate Association
  9. Phitsanulok Real Estate Association
  10. Nonthaburi Real Estate Trade Association
  11. Chiang Mai Real Estate Association
  12. Udon Thani Real Estate Association
  13. Thai Town Planning Association
  14. Khon Kaen Urban Development Company (KKT)
  15. Phuket Urban Development Company
  16. Chiang Mai Urban Development Company
  17. Phitsanulok Urban Development Company
  18. Samut Sakhon Urban Development (Social Enterprise) Company
  19. Saraburi Urban Development Company
  20. Rayong Urban Development Company
  21. Bangkok Urban Development Company

Assoc. Prof. Dr. Somjet Tinphong, Chairman of the National Innovation Agency, stated that the NIA has been assigned by the Ministry of Science and Technology to be the main agency in promoting an environment conducive to the development of startups in Property Technology and Urban Technology, which is one of the 9 business sectors under the government's policy to support startups for driving the future economy.

The National Innovation Agency is pleased and ready to collaborate with 11 real estate associations, 8 urban development companies, and the Thai Town Planning Association to promote, support, and apply innovations in property technology and urban development, as well as to develop startups according to government policies. This includes exchanging and promoting knowledge, experiences, and information in science, technology, innovation, and the environment among personnel from both parties to jointly drive Thailand's economy.

Dr. Phanuch Chaiyarat, Director of the National Innovation Agency, emphasized that the agency focuses on developing startups, which are a crucial mechanism for driving the country towards an innovation-driven economy and creating a Startup Ecosystem through collaboration with associations to promote and support startups in property and urban development in various forms, such as pitching training, funding, and applying innovations in property technology and urban development. This will help propel and enhance the capabilities of Thai startups in property and urban development to grow and compete on an international level.

Additionally, this initiative will lead to the creation of new business models for property and urban development, aligning with Area-Based Innovation to enhance the potential of local innovation districts (Innovation District). This aims to develop areas and activities within districts, attracting startups to cluster together, by developing tools and mechanisms that facilitate business operations and enhance the quality of life for residents and activities within the area, utilizing innovations, sharing resources, and setting innovation goals that align with the local context. This will meet the needs of all stakeholders, including investors, land developers, landowners, educational institutions, research agencies, entrepreneurs, startups, service users in the area, and residents. As a result, each area will foster the creation of startups, jobs, and unique value specific to each locality, starting with 15 pilot innovation districts, which include:

  1. Innovation Districts in Bangkok (BANGKOK INNOVATION DISTRICTS) 8 districts include:
    1) Yothi Innovation District
    2) Pathumwan Innovation District
    3) Klongsan Innovation District
    4) Rattanakosin Innovation District
    5) Kluaynamthai Innovation District
    6) Latkrabang Innovation District
    7) Punnawithi Innovation District
    8) Bangsue Innovation District
  2. Innovation Districts in the Eastern Economic Corridor (EEC) 4 districts include: 1) Bangsaen Innovation District 2) Sriracha Innovation District 3) Pattaya Innovation District 4) U-Tapao-Ban Chang Innovation District
  3. Innovation Constellation Network 3 districts include:
    1) Innovation District in Chiang Mai
    2) Innovation District in Khon Kaen
    3) Innovation District in Phuket
    and areas promoting innovation in Chachoengsao province, including fostering connections to promote GovTech in providing public services to citizens in various cities.

Mr. Pornarits Chuanchaisit, President of the Thai Real Estate Association, discussed the importance of the real estate sector to the overall economy of the country, as it is related to many business sectors, with a market value of 450,000 - 500,000 million baht per year, not including figures for urban development, shopping malls, hotels, apartments, industrial estates, and other types of real estate businesses. The Thai Real Estate Association, as a coordinator for urban development across all regions of the country, has continuously facilitated collaboration, forming a network of regional real estate associations and supporting the establishment of urban development companies in 8 major cities throughout Thailand, developing according to the criteria of Smart Growth, LEED-ND, Form-Based Codes, TOD, as well as the Thai Town Planning Association, which is ready to support the NIA for sustainable and stable development. Furthermore, this also supports awareness, usage, and the enhancement of development in PropertyTech, UrbanTech, and other Tech Startups to proliferate among developers or users, as well as creating an ecosystem for Property Tech in Thailand.

Thank you for the information from www.thairealestate.org  and www.nia.or.th/innovationdistrict