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True Digital Park opens Work Space to ignite future Thai unicorns

Under the concept of ‘One Roof, All Possibilities’, True Digital Park is now ready to ignite startup unicorns and support the country in driving digital economy.

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True Digital Park aims to become Thailand’s first and Southeast Asia’s largest digital innovation hub.

Under the concept of ‘One Roof, All Possibilities’, True Digital Park is now ready to ignite startup unicorns and support the country in driving digital economy.

Today it reveals “Work Space”, the workplace and digital innovation development space in the most complete ecosystem for startups and tech entrepreneurs.

Among startups and tech community, True Digital Park also collaborates with government agencies, enterprises and global tech giants including The National Innovation Agency (NIA), Digital Economy Promotion Agency (DEPA), Electronic Transactions Development Agency (ETDA), King Mongkut’s Institute of Technology Ladkrabang, Google, AWS, Huawei, Ricoh, UOB, Wongnai, MuSpace, Thailand e-Center (TeC), CP Innovation and True Digital Academy.

It is equipped with full serviced facilities for meetings, workshops, town halls, events and lifestyle activities to enhance work life. True Digital Park is now open the door for startup and tech entrepreneurs to experience its Work Space.

Work Space is designed to be open and connected to create an atmosphere that truly encourage knowledge exchange for innovation.

This space also strengthens and fulfills all startups’ needs as well as provides support from partners through their journey from business establishment, knowledge sharing by economies and R&D centers, cutting-edge technology from world leading tech companies, and supports from related government organizations.

In addition, the startups in the community will also have opportunities to meet with venture capitals and investors. These elements make the startup ecosystem complete and ready to help startups achieve sustainable growth.

Thailand has potential to be digital innovation hub in this region, according to key findings from Global Innovation Index (GII) by Cornell SC Johnson College of Business and INSEAD WIPO. Thailand is ranked 44th in GII’s 2018 study, a big jump of 7 rankings.

Thai startup success rates are still relatively low

The nation is also among 20 Innovation Achievers. Thailand has its strengths in the following categories; Market Sophistication, Knowledge and Technology Outputs and Innovation Efficiency Ratio.

True Digital Park is confident that our complete startup ecosystem and integrated support from partners are key drivers to help startups and tech entrepreneurs become unicorns and grow strongly and sustainably. This will also benefit Thailand’s digital economy and help the country reach its potential as a digital innovation hub in the region

Thanasorn Jaidee, President of True Digital Park

On the other hand, Thai startup success rates are still relatively low compared to its neighbors such as Indonesia, Malaysia and Vietnam.

Therefore, True Digital Park is committed to building a complete ecosystem for startups and tech entrepreneurs to support and increase potentials of the country’s digital economy.

True Digital Park is located on Sukhumvit 101 road near Punnawithi BTS station. The first phase of the project is now open in three areas including Work Space (77,000 sq.m), Lifestyle Space (30,000 sq.m) and Living Space which comprises of condominium and residential area.
Work Space, an innovation hub and startup community, is designed under Open Innovation concept to help accelerate and incubate startups to grow strongly and ultimately become an ‘unicorn’.   

“Our current database of members and partners at our Work Space reflects the complete ecosystem at True Digital Park. Members and partners are working in various business types including digital content, social platforms, enterprise platform, e-commerce, robotics as well as tech startup such as FinTech, TravelTech, MarketingTech, PropTech and AgriTech. In terms of demographic statistics, our members are 57% male and 43% female.

Over 60% of our members work in digital and technology business. Their job functions can be separated as follows: 40% are  engineering, IT, technology, and innovation, 15% are technician support, 6% are digital marketing, 25% are management and business development, and 14% are other support functions such as accounting, admin, and HR.

Work Space comprises of 4 areas

1. Co-Working Space: working space, pantry and break-out area  

2. Office Space: a large office space with meeting rooms and event and function areas. The open space architecture is being represented through connected stairs that encourage members of the community to meet, learn, share and build community organically.

3. Innovation Space: technology showcase, academy and innovation labs by partnering with government agencies, enterprises and world leading tech companies such as National Innovation Agency (NIA), Digital Economy Promotion Agency (DEPA), Electronic Transactions Development Agency (ETDA), King Mongkut’s Institute of Technology Ladkrabang, Google, AWS, Huawei, Ricoh, UOB, Wongnai, MuSpace, Thailand e-Center (TeC), CP Innovation and True Digital Academy

4. Event and Business Services Space: full serviced facilities for meetings, seminars, business services and government’s one-stop service centers            

True Digital Park’s Work Space provides more than just a traditional work stations.

True Digital Park members can enjoy more than 400 workstations with well-designed seating options. You can connect anywhere in the digital world via 1 Gbps ultra high-speed internet networks and WiFi exclusively provided to members only.

Our shared facilities include meeting rooms and pantries with free-flow premium coffee and infused water. In addition, VC Clinic, funding opportunities for startups, advice and support for smart visas for foreign workers, business consultation, legal and other support services, tax privileges, connections with educational institutions for the improvement of tech talents are some of the other benefits members can take advantage of.

In addition to enjoyable working experience at Work Space, members will also take advantage of convenient cashless society at Lifestyle Space, a lifestyle complex where retails meet nature and technology.

This includes a 24/7 retail space that serve consumers’ modern lifestyle of managing their own time freely. This is the ideal space for everyday living for urban citizens.  


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Ecommerce

Thailand Ecommerce Market: Shooting For Success

At present, the Thai ecommerce market is valued at USD 3.5 billion. According to a Google Temasek study, Thailand’s e-commerce market value is expected to surge to 13 billion USD by 2025 on the back of strong global demand for Thai products.

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Thailand’s nascent e-commerce industry is thriving and making serious money. According to the Ministry of Digital Economy and Society, Thai e-Commerce grew the most in ASEAN, the value of Thai ecommerce grew 14% in 2018, estimating that the value would increase to USD 103 billion, and its growth is expected to hit 20% this year.

The region is flourishing

According to the report Asia-Pacific B2C E-Commerce Market, over one half of total global online retail sales happens in the Asia-Pacific region. Over 50% of all the online shopping for retail goods and services takes place in the Asia Pacific region, and South-East Asia accounts for about 40% of the e-commerce market of the region.

Southeast Asia is definitely a new big e-commerce hit, and the region is currently a very attractive market for big players involved globally in the e-commerce sector and smaller local companies.

At a reflection point of Internet penetration and mobile devices rapid spread, the population of Southeast Asia is quickly adapting its behaviors to take advantage of new purchasing products and services online opportunities.

According to the latest e-Conomy Southeast Asia 2018 report from Google and Singapore-based Temasek, the digital economy in Southeast Asia is on track to hit $240 billion by 2025, which is $40 billion more than previous estimates.

The digital economy in Southeast Asia is on track to hit $240 billion by 2025

As e-commerce continues to grow exponentially, Southeast Asia will account for 20% of worldwide e-commerce by as early as 2022.

Thriving Market

With a GDP worth of USD 602 billion, Thailand is the second largest economy in Southeast Asia, surpassed only by Indonesia. In addition to that, according to EcommerceIQ research, Thailand is also the second largest Business-to-Consumer (B2C) e-commerce market in the region.

At present, the Thai ecommerce market is valued at USD 3.5 billion. According to a Google Temasek study, Thailand’s e-commerce market value is expected to surge to 13 billion USD by 2025 on the back of strong global demand for Thai products.

As Ebay’s General Manager for Hong Kong, Taiwan and Southeast Asia border trade Jenny Hui has stated, Thai products are in global demand, with jewelries and watches, health and beauty products, auto parts, home and garden, and collectibles rapidly gaining popularity.

Electronics is currently the leading product category, accounting for USD 1.3 billion market share.

Fashion is second, accounting for USD 525 million. According to Statista, online shoppers in Thailand spend on average $283.95 USD online annually, and four years from now, this sum is expected to grow to $401.73 USD.

Young Mobile-First Generation of Users

What makes the country a true breeding ground for ecommerce is its great number of internet users – one of the highest in Southeast Asia. At present, Thailand has an Internet penetration rate of 57.4% with Millennials making up the majority and spending on average 53.2 hours a week online.

When comparing the number of Internet users over the past 10 years, there were only 16.1 million Internet users in 2008 and the number reached approximately 45 million in 2018; moreover, at present there are 124.8 million mobile subscribers, 44 million people using LINE messenger and 52 million Facebook users.

Internet-savvy young people here definitely play a key role in driving mobile commerce. Thailand is a regional leader in mobile commerce, as 52% of online transactions take place via mobile devices (only South Korea is higher with 58%). According to the Thailand Marketing Research Society, 71% of smartphone users in Thailand shop online an average of twice a month, while 90% intend to shop online in the future. 

On top of that, a growing middle class with increasing incomes also plays a huge role in this surge trend.

Big players bet big on it

Thailand’s market size and e-commerce potential has made it an appealing market to foreign investment. In the last two years, Chinese Internet giants like Alibaba and JD.com have invested in Thailand.

Alibaba through its USD $3.7 billion investment in Lazada in 2018, and USD $306 million injection into the first stage of the Eastern Economic Corridor (EEC), while JD.com has poured USD $457 million into a joint-venture with Thailand’s leading retail conglomerate, Central Group. E-commerce is the leading category that has received the greatest foreign investment compared to payment, logistics, fintech and food and beverage sectors.

Consequently, the increase in interest from foreign investors in Thailand’s e-commerce sector has encouraged local firms to increase their competitiveness and encouraged more SMEs in Thailand to innovate in the areas of online commerce, fintech and artificial intelligence. The investment also resulted in more joint ventures between offline wholesale companies and online companies.

Affiliate marketing opportunities

According to affiliate network Indoleads, e-commerce success brings also a bunch of great affiliate-marketing offers. About 97% of all Thailand’s ecommerce brands use affiliate marketing to attract customers. That means the opportunities for publishers are limitless, and the programs are abundant.

Lazada, Shopee and JD Central are one of the most attractive ones. The three platforms have strong financial support from larger firms. Lazada is backed by Chinese e-commerce giant Alibaba, while Shopee is supported by Tencent, another massive Chinese company. JD Central is a joint venture of China’s JD.com and Thailand’s Central Group.

These three online marketplaces in Thailand are drawing each in over 30,000,000 sessions per month, providing brands with high visibility, and give publishers a higher chance to earn commission through sales.

Not only big international players have appealing affiliate programs. A variety of local e-commerce stores widely use affiliate marketing. For example, Namu life, a leading retailer of skincare products produced with natural ingredients, is one of the most popular shops in this niche. It is not a secret that skincare products are always in high demand in Thailand, so there is always a great choice of online stores selling them.

Another one is CMART, Thailand’s most popular e-commerce website, selling almost everything from electronics to health and beauty products and providing top-notch service. CMART has developed a successful multi–channel strategy and innovative operating model.

The travel aggregators and platforms, such as Bookaway, are also extremely popular not only among locals, but also thousands of foreigners permanently living in Thailand.  

In the perspective of flourishing Thailand ecommerce market, affiliate marketing is very likely to present real and meaningful chance to reach consumers in novel, creative way to drive performance-based results. Publishers definitely should consider this option for sure.

Indoleads are happy to present you all these amazing opportunities. Indoleads is one of the leading affiliate platforms in South-East Asia. They have 500 CPS/CPL/CPA direct affiliate offers from over 60 countries around the globe. Our team is dedicated to your affiliate business success, so join Indoleads to promote Thailand brands and cut a piece of cake from their enormous revenue!

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Banking

Aspire Set to Become First SME Neobank in Southeast Asia with US$32.5 Million Raise

The recent financing has been led by Mass-Mutual Ventures Southeast Asia with participation from Silicon Valley’s Arc Labs and existing investors Y Combinator, Hummingbird and Picus Capital.

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SINGAPORE, August 1st 2019. Y Combinator backed Aspire, who is on a mission to reinvent SME banking across Southeast Asia, announced today a US$32.5 million raise.

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Press Release

How is Thailand Bringing Technology to the Table?

In Asia, a country like Thailand has taken the initiative to implement agricultural biotechnology in its industry. The country has long been considered as the kitchen of the world since it’s agricultural exports play a crucial role in its GDP.

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Technology is revamping how the world works. We are leaving in a tech-savvy world where technological advancements are making their way to every industry.

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