Strengthening this emerging ecosystem discussion opens up the platform with Sarah Jane Maxted - Executive Director, MIT REAP, as the Moderator for this particular session and a cross-section of MIT's top influencers and entrepreneurs.
Todd Glickman, Senior Director of MIT Corporate Relations
Lesley Millar - Nicholson - Director, MIT Technology Licensing Office
Sauwanee Thairunroj - President, University of Thai Chamber of Commerce
Reinaldo Normand - Entrepreneur - in - Residence, MIT Legatum Center
Pun - arj Chairatana - Director, Natural Innovation Agency, Thailand
MIT is well known for its unique entrepreneurial environment, which has supported the translation of cutting-edge technologies into over 30,000 companies.
This panel will elaborate on the critical elements of MIT's innovation ecosystem, and how these factors may be applied to promote impactful innovation abroad.
Key areas of focus include technology licencing, relationships between academia and industry, university and government initiatives, and other programs that support an entrepreneurial ecosystem.
As Thailand is a frontier and emerging market, it's the hot topic at the moment. Building these markets up is never easy and is very difficult and a real challenge. We want markets similar to Silicon Valley. Its the model that we want to replicate, with each ecosystem having its own unique selling point. System strategy stakeholders are part of the dynamics along with innovation and entrepreneurship that hold the keys to driving a stronger ecosystem.
Taking a look at how ideas and products become innovative transformational startups is to understand how entrepreneurs and stakeholders intertwine to create a stronger ecosystem.
MIT is such an entrepreneurial influencing body and coming from a developed ecosystem, MIT can help to influence, implement and grow ideas to fruition and develop these emerging markets greatly. We have a huge opportunity to help solve the problems that surround these emerging markets.
'Explore Forever.' - the community we want to help expands further than Thailand and looks to bring stakeholders into the country.
Creating boot camps that engage in social innovation and interact with Thai locals by generating competitions with clear initiatives. Within Thailand its all about developing and improving national innovation. Its all about the balance between social and economic.
The private sector within Thailand is very promising, enabling product expansion with experts at the core, along with incubators and accelerators.
The government is also pushing forward innovation in Tech. Over the past 20 or 30 year's we have come on leaps and bounds in terms of implementing and enabling corporate venture capitalists who have boosted the whole private and public sector finance.
Thailand universities play a huge role as an open ecosystem platform for startups to develop across all industries that need tech. We are looking to increase and strengthen the ties between the west and east corridor with around 65 companies that are working on the innovation eastern corridor, along with university researching teams. Its all about sustainability and encouraging entrepreneurial enterprises.
It's about engagement, networking and transferring skills into the developments of products, companies and innovation that goes beyond the ideas of innovation
Academic innovation dynamics is crucial for MIT along with integral research and matching large corporations with startups in spearheading innovation and growth and accelerating commercialization. Corporate relations is key on a global scale for MIT interrelations for strategic developments. Education is a pillar for new developments is key in strategising tech advancements. This helps drive MIT's mission and build up the resources in these developing markets.
Large corporations collaborating with university students help to develop relations which is crucial and allows a partnership to develop and benefits everyone all around. This is critical for an ecosystem, product and entrepreneurial developments.
Developing and understanding entrepreneurship in Thailand helps us to understand the complexity of the South-East Asian landscapes. The tech startup scene is all about enabling exponential innovation which is the building blocks of the ecosystem.
The thing about entrepreneurship is that it is a jungle out there. There is stiff competition and the path can be unclear. To enable an entrepreneurial ecosystem there needs to be room for failure and it needs to be welcomed. Embrace the chaos and adapt as much as possible.
'Being entrepreneurial is not always about starting a business and is more about bring concepts and products into the market and developing these off the wall ideas that are highly innovtive. Explore forever as you never know what will fit together so keep evolving."
Thailand is much more innovative than America for example, however, there are governmental institutions that startups need to navigate around. KPI's are not really flourishing in Thailand as there is not enough room, instead, Entrepreneurial innovation is the way to driving the economy forward.
Person to person collaboration is a powerful tool that should be celebrated and honoured.
There are a lot of stakeholders in the MIT ecosystem with a very customer focused driven outlook. The focus also has to be less on monetary gain and more on impact, socially and economically.
Venture Capitalists which are growing internationally and nationally are becoming an institutional bedrock for ecosystem developments in the region.
As we have discussed the evolution and building of a successful and strong ecosystem, the Techsauce global summit is happening from the 22 - 23rd of June 2018.
Startups both Thai and international come together to display their products and services, along with industry experts, influencers and a range of Investors ranging from seed funders to Niche angel investors, supplying Series A, B & C funding.