Media OutReach
Successful Completion: The Yunlin Offshore Wind Farm Project in Taiwan is now fully operational

HAMBURG, GERMANY – EQS Newswire – 3 February 2025 – Skyborn Renewables (Skyborn) and its partners in Yunneng Wind Power Co., Ltd. (Yunneng) are pleased to announce a major milestone: The Yunlin Offshore Wind Farm (OWF) is now fully operational and producing clean energy at its design capacity of 640 MW. All 80 wind turbine generators (WTGs) have been successfully installed and are producing electricity, powering Taiwanese homes and businesses. This achievement marks a major step forward in Taiwan’s offshore wind farm and renewable energy sectors, contributing to the country’s transition to a sustainable energy future. Yunneng, a joint venture between Skyborn, TotalEnergies, Electricity Generating Public Company (EGCO Group), and Sojitz Corporation (Sojitz), is responsible for the construction and operation of the Yunlin OWF.
As one of Taiwan’s largest offshore wind farms, the 640 MW Yunlin OWF generates enough clean energy to power over 600,000 Taiwanese homes annually. With a capacity of 2,400 Gigawatt hours (GWh), and meeting 90% of Yunlin County’s non-industrial electricity needs, the Yunlin OWF will also reduce CO2 emissions by approximately 1,200,000 tons per year. The development and construction was led by Skyborn, with the support of its partners. Following the commercial operations date (COD), which is envisaged for June 2025, TotalEnergies will take the lead of the technical operations management, whilst Skyborn will continue to lead all other management services.
“I’m proud to see the 640 MW Yunlin Offshore Wind Farm now generating at full capacity. This project is a testament to our commitment to creating lasting value for our partners and society and delivering on our promises. We promised to deliver it, and we’ve done just that. I’d like to extend a special thanks to the Taiwanese government for their unwavering support throughout this project,” said Patrick Lammers, CEO of Skyborn.
“We are pleased with the completion of the Yunlin offshore wind farm, which is now producing at its planned capacity. The 640 MW project, realized together with our partners, will help Taiwan reach its 2025 target of 5.7 GW of offshore wind power. This achievement, which contributes to the growth of free cash flow from our electricity business, marks a new step towards TotalEnergies’ goal of exceeding 100 TWh of net electricity production by 2030,” said Olivier Jouny, Senior Vice President Renewables at TotalEnergies.
“We are delighted that the Yunlin Offshore Wind Farm has successfully commenced its commercial operations with a total capacity of 640 MW, as the first offshore wind project in our power portfolio. Thanks to the collaborative efforts of all relevant parties with efficient construction planning and project management capabilities. We especially thank the Taiwanese government for their continuous support in all aspects of the project. The achievement also fulfils EGCO Group’s business strategy that addresses sustainable growth across all dimensions by balancing business opportunities, profitability, and our low-carbon organizational targets,” said Dr. Jiraporn Sirikum, President of EGCO Group.
“We are honoured to see the Yunlin Offshore Wind Farm commence its operations, as our first offshore wind project. This achievement is in line with our strong commitment to create “value for society” for developing local economies and environmental conservation. We extend our deepest gratitude to our valued partners, senior lenders, EPC contractors and all stakeholders, which have been crucial in making this project a reality,” said Takefumi Nishikawa, Executive Officer, COO of Energy Solutions & Healthcare Division at Sojitz.
The Yunlin OWF is located in the Taiwan Strait, between 8 and 17 km off the west coast of Taiwan, at water depths from 7 up to 35 m. The 82 km² project area comprises 80 WTGs, whose generated electricity is fed into the Taiwanese power grid via two onshore substations near the townships of Taixi and Sihu in Yunlin County. Electricity from the project is provided to Taiwan Power Company (TPC) under two 20-year power purchase agreements. The project is backed by a strong financial consortium established in 2019, including Taiwanese and international banks alongside export credit agencies.
Shareholders of Yunneng Wind Power Co., Ltd.
About Skyborn Renewables (Skyborn)
Skyborn is an accomplished offshore wind developer and operator with more than 20 years’ experience, headquartered in Germany. The company’s capabilities cover the entire offshore wind value chain, including greenfield development, project engineering and design, procurement, financing, corporate power purchase agreements, construction management and asset management. Skyborn is a portfolio company of New York based Global Infrastructure Partners (GIP), a leading infrastructure investor and part of Blackrock.
About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.
As part of its ambition to get to net zero by 2050, TotalEnergies is building a world class cost-competitive portfolio combining renewables (solar, onshore and offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. By the end of 2024, TotalEnergies’ gross renewable electricity generation installed capacity reached over 24 GW. TotalEnergies will continue to expand this business to reach 35 GW in 2025 and more than 100 TWh of net electricity production by 2030.
TotalEnergies’ portfolio in offshore wind has a total capacity of more than 18 GW, with most farms bottom-fixed. These projects are in the United Kingdom (Seagreen, Outer Dowsing, West of Orkney and Erebus), South Korea (Bada), Taiwan (Yunlin and Haiding 2), France (Eolmed), the United States (Attentive Energy and Carolina Long Bay), in the Netherlands (OranjeWind), in Germany (Nordsee Energies 1 & 2, Ostsee Energies, N-9.1 and N-9.2).
About Electricity Generating Public Company Limited (EGCO Group)
EGCO Group is the first Independent Power Producer in Thailand. EGCO Group presently has a total equity capacity of 7,019 MWe in operation and under construction. Total equity capacity from renewable energy is 1,463 MWe (equivalent to 21% of the total portfolio). The RE portfolio includes biomass, hydropower, solar power, onshore and offshore wind power, fuel cells, and battery storage. EGCO Group’s facilities are located in 8 countries, namely Thailand, Lao PDR, the Philippines, Indonesia, Australia, South Korea, Taiwan and USA. In addition, EGCO Group has also 11 other energy-related businesses including the fuel and infrastructure business group and the customer solution and startup business group. EGCO Group has been listed in the Dow Jones Sustainability Index (DJSI) for four consecutive years (2020-2023) and aims to achieve Net Zero goal by 2050. Learn more about EGCO Group through our website at www.egco.com
About Sojitz Corporation (Sojitz)
Sojitz is a major investment and trading firm in Japan developing wide range of businesses globally, including manufacturing, selling, importing, and exporting a variety of products, in addition to providing services and investing in approximately 50 countries around the world through approximately 440 consolidated subsidiaries and affiliated companies located in Japan and overseas. Sojitz was formed out the union of Nichimen and Nissho Iwai Corp. both with long world-wide investment histories of more than 160 years, Sojitz is a publicly listed company on the Tokyo Stock Exchange.
Hashtag: #skyborn
The issuer is solely responsible for the content of this announcement.
About Skyborn Renewables
Skyborn Renewables is driving global decarbonisation by accelerating offshore wind energy across the world. We believe offshore wind is a cornerstone of the clean energy transition and an enabler to achieve net-zero targets and ensure energy security and a sustainable energy supply for future generations. Skyborn is an accomplished offshore wind developer and operator with more than 20 years’ experience. Our capabilities cover the entire offshore wind value chain, including greenfield development, engineering and design, procurement, financing, corporate power purchase agreements, construction management and asset management.
For more information, visit www.skybornrenewables.com
Media OutReach
4 in 5 Singapore residents prioritising savings, investments and insurance amongst others despite expectations of a tough year ahead: AIA Live Better Study
18-29 year olds significantly more optimistic and feel more financially prepared to confront the year compared to 40-49 year olds.
SINGAPORE – Media OutReach Newswire – 6 February 2025 – AIA Singapore today announced findings from the seventh edition of the AIA Live Better Study, which reflects the evolution of a society where more than 4 in 5 (83%) of Singapore residents plan to actively manage their finances amid concerns of a sluggish economy in 2025. The survey aims to uncover the aspirations and concerns of Singapore residents as they navigate these challenging times in the new year.
The study also found a stark contrast in the temperament and financial preparedness between two age groups. While more than half (54%) of those aged 18 – 29 feel financially prepared to tackle the challenging economic situation in 2025, only 34% of those aged 40 – 49, many of whom are taking care of their parents or kids, share similar sentiments.
Conducted in November 2024, the AIA Live Better Study[1] investigated the evolving financial, health, and wellness needs of Singapore consumers. Against expected muted economic growth in 2025[2], this year’s study explores the mindset and actions of Singapore citizens and PRs as they navigate these challenging times.
Unsurprisingly, only 47% of Singapore residents are optimistic about the economy. Inflation and cost of living (50%) remain the top economic concern amongst the population, followed by worries over job security (35%) and income levels (34%).
“Despite the expectation of challenging times, the people of Singapore are showing remarkable resilience and proactiveness. This reflects a maturing society which has a better understanding and appreciation of the value of planning early and planning well for their future and that of their loved ones, which is especially noteworthy as we celebrate Singapore’s 60th birthday this year,” said Irma Hadikusuma, Chief Marketing and Healthcare Officer at AIA Singapore.
“AIA Singapore is committed to supporting the community with compelling solutions, tools and resources needed to overcome today’s challenges and secure a prosperous future. Our mission is to help people live healthier, longer, better lives, ensuring financial and overall well-being,” she added.
Securing financial resilience: Insurance and investments take centerstage in long-term financial plans
Rather than wringing their hands in despair, Singapore residents are taking on a positive mindset with more than 1 in 2 (54%) indicating that financial readiness in the long-run is more important to them in 2025 compared to the previous year.
The top three priorities Singapore residents believe will help them achieve financial security are savings (62%), a stable income (57%), and to have emergency funds (52%). Notably, 1 in 2 (48%) Singapore residents also cited insurance as an important way to ensure financial stability, a positive indication of an increased understanding about the importance of insurance as part of long-term financial planning.
Looking ahead, Singapore residents have plans to uptake a myriad of long-term financial solutions to prepare against the volatile economy in 2025:
- Approximately 3 in 5 (59%) Singapore residents are tightening their purse strings and planning to spend less on daily expenses or big-ticket purchases.
- Singapore residents are making plans to build emergency funds (29%), plan for retirement (28%), and diversify investments (27%) to strengthen their long-term financial readiness.
- Singapore residents are likely to see an increased uptake in endowment and investment plans as over a fifth of respondents intend to boost their expenditure towards insurance (22%) and investments (27%) in the coming year.
AIA Singapore offers a comprehensive range of compelling solutions designed to align with the unique aspirations of individuals and families, encouraging them to start their savings journey early. By leveraging the power of compounding interest, we help individuals and their families grow their investments for the long-term and secure a prosperous future. AIA insurance representatives are here to provide personalised guidance to help you make informed decisions about your financial well-being.
Balancing the budget in preparation for rising healthcare expenses
A substantial subset when it comes to Singapore’s cost of living is healthcare costs. Aligned with Health Minister Ong Ye Kung[3], the study noted that the increasing cost of healthcare is a key economic concern that must be addressed. Key insights include:
- More than half (53%) of Singapore residents perceive healthcare costs to be expensive.
- Yet, less than half (47%) feel financially prepared to manage these costs, calling for more support, financial and non-financial, by both the government and private sectors.
- Singapore residents are taking matters into their own hands, planning to combat the potential high healthcare costs via insurance plans (57%), personal savings (56%) and government healthcare financing and support (49%).
A Generational Gap: 18 – 29 year olds are stressing and skimping less compared to their 40 – 49 year old counterparts
Many in their 40s are feeling the pressures of being in the sandwiched generation, and they are the most pessimistic about their outlook for 2025 across all demographics. This is in comparison to the more optimistic demographic of 18 – 29 year olds in Singapore.
Financial Priorities Shift with Age: From Experiences to Stability
Despite the nation’s overall sentiment, the younger generation (aged 18 – 29) are less stressed about the economy and are less likely to take steps towards financial preparedness. This is in contrast to Singapore residents in their 40s.
- The younger generation is more optimistic (56%) about the economy than those in their 40s (38%),
- They are less concerned about inflation and cost of living (34% compared to 63%).
- Fewer 18-29 year olds strive to be debt and loan free (16%) compared to their older counterparts (28%).
- Less than 2 in 5 (34%) younger adults foresee themselves cutting back on daily expenses and only 35% planning to reduce their budgets for big-ticket items.
- In contrast, approximately 1 in 2 (47%) of those in their 40s will be cutting their daily spending and 45% will be reducing purchases of big-ticket items.
This could be attributed to their current phase in life – between completing their education and starting their working life – those between the ages of 18 and 29 are focused on experiencing the fun and joys of life[4].
Stresses on the Job Market
Having stable employment is important to all Singapore residents regardless of age. Approximately 1 in 2 (47%) of those aged between 18 and 29 years old, and approximately 3 in 5 (61%) of those in their 40s cited it as an increasingly important aspect of their overall wellness in 2025.
However, their likely approach to pre-empting a potential loss of job differs:
- While the younger ones prioritise upskilling (40%) more than the older generation (28%),
- The latter will focus on building their savings (55%) and setting aside emergency funds (46%).
Even the support that the two age groups require differs:
- While 18 – 29 year olds find mental health and well-being support (40%) to be more important,
- 40 – 49 year olds would prefer more practical support in the form of job placements, career transition services (52%) and access to online training and upskilling programmes (47%).
The differing reactions and behaviours towards the economy underscore the stage of life that both groups are in. While the younger generation is still learning to live life and experience the joys that come with it, those in their 40s recognise the many responsibilities they have. While their approaches differ, both generations share the goal of securing a stable future in challenging times.
[1] The seventh wave of the AIA Live Better Study is an independent study that was conducted from 29 November to 9 December 2024 with a sample size of 1,000 representing Singapore’s general population.
[2] ‘Economic trends to watch for Singapore in 2025’ (Jan 1, 2025) The Straits Times. Available at: https://www.straitstimes.com/business/economic-trends-to-watch-for-singapore-in-2025
[3] ‘Healthcare costs are rising in Singapore. Is there really nothing we can do about it?’ (Nov 23, 2024) CNA. Available at: https://www.channelnewsasia.com/cna-insider/healthcare-costs-rising-singapore-hospitals-government-subsidies-moh-4764391
[4] ‘The Big Read: Understanding why millennials and Gen Zers feel the way they do about work’ (Jul 30, 2022) CNA. Available at: https://www.todayonline.com/big-read/big-read-understanding-why-millennials-and-gen-zers-feel-way-they-do-about-work-1956641
Hashtag: #AIASingapore
The issuer is solely responsible for the content of this announcement.
About AIA
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR[1], Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR[2], and a 49 per cent joint venture in India. In addition, AIA has a 24.99 per cent shareholding in China Post Life Insurance Co., Ltd.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$289 billion as of 30 June 2024.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 42 million individual policies and 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock codes “1299” for HKD counter and “81299” for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol “AAGIY”.
Media OutReach
24/7 FITNESS Launches Flagship Club at Orchard Road, Targets 40 Locations Across Singapore in 3 Years

The 10,000-square-foot Orchard flagship club is Singapore’s largest 24/7 FITNESS facility and boasts state-of-the-art equipment from world-renowned brands. Offering advanced cardio machines and weight-training equipment, the gym is designed to meet the needs of all fitness levels, from beginners to seasoned athletes. As a 24-hour gym, members can work out conveniently, enjoying unparalleled flexibility in their fitness schedules.
“Our goal is to redefine fitness accessibility in Singapore by providing world-class facilities and services at an affordable price,” said Ingrid Wong, CEO of 24/7 FITNESS. “By expanding to 40 locations over the next three years, 24/7 FITNESS is committed to becoming the fitness brand of choice for Singaporeans who prioritize their health and well-being.”
24/7 FITNESS has already opened 13 branches in strategic locations across Singapore, including popular spots like Ci Yuan Community Club, Keat Hong Community Club, The Seletar Mall, Margaret Market and Yew Tee MRT. Upcoming sites include prominent destinations such as The Cathay, Jalan Besar, Beauty World and Tampines North Community Club, ensuring that members across the island have easy access to 24/7 FITNESS’s world-class facilities.
24/7 FITNESS offers a transparent pricing model starting at just $98 per month, with no joining fees or prepayment required. This straightforward pricing ensures that members receive exceptional value without the hidden costs often associated with other gyms. With access to all 24/7 FITNESS locations across the Asia-Pacific region, members can enjoy flexibility and convenience wherever they go. For those seeking personalized guidance on their fitness journey, the gym has a team of dedicated personal trainers available to help customers achieve their goals.
24/7 FITNESS is also introducing cutting-edge technology with its Smart Face Recognition Terminal, allowing for seamless and secure access to all locations worldwide without the need for a physical key fob or card. This contactless entry system is ideal for those with busy schedules or traveling abroad, ensuring quick and easy access whenever needed. Additionally, the gym’s welcoming atmosphere, designed with a neutral color scheme and soothing Tiffany Blue accents, fosters a comfortable environment where members of all fitness levels can feel at ease and motivated to reach their goals.
Founded in Hong Kong, 24/7 FITNESS has rapidly grown to over 200 locations across the Asia-Pacific region, including Hong Kong, Mainland China, Taiwan, and Macau. Its entry into Singapore marks a significant milestone in the brand’s mission to make fitness accessible and affordable for all. As part of its commitment to the local community, 24/7 FITNESS aims to redefine the fitness experience in Singapore by combining convenience, technology, and value, ensuring that all Singaporeans can achieve their health and wellness goals.
For further details about 24/7 FITNESS clubs, please visit: https://bit.ly/3BzsHj9.
Hashtag: #247fitness
The issuer is solely responsible for the content of this announcement.
24/7 FITNESS
24/7 FITNESS is a renowned international fitness brand with over 200 locations in Asia-Pacific, including Hong Kong, Mainland China, Taiwan, and Macau. Founded in Hong Kong, 24/7 FITNESS is dedicated to making fitness easy, affordable, and accessible for everyone. The brand offers 24-hour gym access with no long-term contracts, joining fees, or upfront payments. With a commitment to providing high-quality, hassle-free fitness solutions, 24/7 FITNESS empowers individuals of all fitness levels to achieve their health and wellness goals.
Official Website:https://sg.247.fitness/
Media OutReach
NIA Unveils 2025 Startup Trends: AI, Green Tech, and FinTech Set to Soar as Thailand Drives Global Growth Ambitions

As we step into 2025, startups face a dynamic landscape marked by economic fluctuations, evolving consumer behaviours, and the rapid emergence of new technologies. Amid these challenges, three key technology sectors are poised for significant growth and investment opportunities: Artificial Intelligence (AI); Sustainability Technologies, including Green Tech, CleanTech, and Climate Tech; and Financial Technologies (FinTech).
Dr. Krithpaka Boonfueng, Executive Director of the National Innovation Agency (NIA), stated that over the past year, Thailand has been home to approximately 2,100 startups, comprising 700 in the pre-seed stage and 1,400 in the go-to-market or growth stage. When compared to other countries in Southeast Asia, Thai startups have demonstrated consistent growth, with seed-stage funding increasing by 4% year-on-year and a cumulative growth rate of 3.3% since 2021.
According to the Global Startup Ecosystem Index published last year by StartupBlink—a leading global hub for startup ecosystem data—Thailand ranked 54th globally and 4th in Southeast Asia, following Singapore, Indonesia, and Malaysia. This reflects the significant progress of Thailand’s startup ecosystem, which is increasingly recognised on the global stage as one of the region’s emerging hubs for entrepreneurial ventures.
One of the key challenges for Thailand’s startup ecosystem lies in the rapid expansion of Data Centres, with the country emerging as a prime destination for both domestic and global investors. Positioned as the region’s new “Digital Economy Hub,” Thailand’s data centre capacity has surged by over 54% in the past three years, ranking third in ASEAN, following Singapore and Malaysia. Projections for 2024–2027 estimate that Thailand could attract around 260 billion baht in data centre investments.
However, to fully capitalise on this growth, Thailand must accelerate talent development to meet market demands and establish robust, long-term policies that inspire investor confidence. These efforts are critical in fostering a sustainable ecosystem that aligns with the broader challenges of the AI-driven society, the need for upskilling and reskilling the workforce, and the global shift towards ESG (Environmental, Social, and Governance) principles. Embracing ESG not only ensures sustainable business practices but also positions Thailand competitively within the evolving global economic landscape.
Looking ahead to 2025, both in Thailand and globally, the startup landscape is set to be driven by transformative technologies that promise significant growth potential. These key trends include:
Artificial Intelligence (AI): AI is rapidly revolutionising industries, with Generative AI at the forefront due to its versatility across sectors. This technology fuels continuous, efficient innovation by creating new content, solutions, and processes. Additionally, the rise of AI Agentic Systems—capable of autonomous thinking, analysis, and decision-making—marks a major leap forward. These systems excel at managing complex tasks and solving multidimensional problems, with over 70% of business leaders and investors confident in their potential to transform operations, from strategic planning and production to customer service. AI Agents not only enhance responsiveness to market demands but also significantly reduce resource consumption, making them an essential asset for future-focused organisations.
Sustainability Technologies (Green Tech, CleanTech, and Climate Tech): As environmental challenges intensify, businesses are increasingly prioritising ESG (Environmental, Social, and Governance) principles, while consumers demand eco-friendly, socially responsible products and services. This shift is propelling the global environmental tech market towards exponential growth, with forecasts predicting an average annual increase of nearly 25% over the next decade. Innovative solutions addressing clean energy, waste management, and sustainable products are driving this momentum. For startups to succeed in this space, it’s critical to develop business models that balance profitability with positive environmental and social impact.
Financial Technology (FinTech): In Southeast Asia, FinTech continues to dominate the investment landscape, securing an impressive 26% of seed funding in 2024—the highest across all sectors—followed closely by blockchain technologies at 20%. This underscores the sector’s resilience and attractiveness, fuelled by innovations in digital payments, decentralised finance, and blockchain applications.
In an era defined by rapid technological change, agility is key. Startups must cultivate adaptability, building flexible systems that can pivot in response to evolving market conditions. This dynamic approach not only strengthens business foundations but also ensures sustained growth and scalability in an increasingly competitive global environment.
Dr. Krithpaka emphasised that in 2025, under its role as Thailand’s “Focal Conductor of Innovation,” the National Innovation Agency (NIA) remains committed to fostering and accelerating the growth of startups through its extensive mechanisms and networks. The agency will focus particularly on the development of “Impact Tech”—technologies designed to create positive economic and social impacts, reinforcing Thailand’s global image and recognition as an “Innovation Nation.”
NIA’s support framework spans the entire startup journey, from inception to international market expansion guided by the strategic pillars of Groom -> Grant -> Growth -> Global.
GROOM (Knowledge Incubation & Network Building): This phase nurtures entrepreneurial capabilities through the NIA Academy, offering comprehensive courses in collaboration with strategic partners and self-paced learning via online platforms like MOOCs. Additionally, the Startup Thailand League plays a pivotal role in enhancing innovation skills among university students, equipping them with entrepreneurial mindsets and preparing them to transition from academic environments to the real-world startup ecosystem.
GRANT (Funding Support): NIA provides diverse forms of non-repayable grants tailored to stimulate innovative business development. These grants support both economic drivers—such as national innovation business promotion platforms and regional innovation ecosystems—and social impact projects, including the ‘Innovation Village’ initiative and urban and community-focused programmes.
For startups aiming to scale rapidly and penetrate new markets, the National Innovation Agency (NIA) offers robust opportunities to drive business growth under the GROWTH pillar. This is achieved through a suite of tailored incubation and acceleration programmes across four key sectors: Food Technology – via the flagship SPACE-F programme, designed to nurture food-tech startups towards global competitiveness; Agricultural Technology – through the AGROWTH initiative, focusing on innovations that revolutionise modern agriculture; Health Technology – supporting startups that develop cutting-edge health and medical solutions. Climate Technology – fostering sustainable innovations that address climate change and environmental challenges.
To inspire and showcase outstanding innovation success stories, NIA runs the “Nin Mangkorn” project, a platform highlighting transformative ventures. This initiative has evolved into “Nin Mangkorn 10X,” with a bold mission to propel high-potential entrepreneurs into capital markets, targeting revenues of no less than 100 million baht within three years.
Under the GLOBAL pillar, NIA is committed to expanding Thailand’s startup footprint on the international stage through the establishment of a Global Startup Hub. This initiative facilitates cross-border market access, strategic partnerships, and international networking. NIA has forged strong alliances with key global ecosystems, including Hong Kong, Japan, South Korea, Germany, and the Nordic countries, creating a dynamic bridge for Thai startups to thrive in diverse markets.
In addition to its growth and global expansion strategies, the National Innovation Agency (NIA) is actively fostering investment opportunities through mechanisms such as Corporate Co-Funding, in partnership with the Thai Venture Capital Association (TVCA). This initiative provides co-investment funding of up to 10 million baht to support high-potential startups.
Complementing this effort are key government and industry bodies offering robust financial support: The Board of Investment (BOI) promotes promising startups with incentives ranging from 20 to 50 million baht, particularly for those in the Pre-Series A+ stage and beyond; The One Innovation Fund, managed by the Federation of Thai Industries (FTI), offers substantial backing with a total fund allocation of 1 billion baht to accelerate industrial innovation; and Beacon Venture Capital has launched the Beacon Impact Fund, focusing on investments aligned with Environmental, Social, and Governance (ESG) principles, with an initial fund of 1.2 billion baht.
Moreover, the upcoming “Startup Promotion and Development Act” or the long-waited “Startup Act”, a landmark legislative framework is set to play a pivotal role in solidifying Thailand’s startup landscape. The Act will introduce comprehensive measures to support entrepreneurship, attract investment, and create a more conducive environment for startups to thrive, marking a significant milestone in the evolution of Thailand as a leading innovation-driven economy.
Hashtag: #NIA #NationalInnovationAgency
The issuer is solely responsible for the content of this announcement.
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