NIA approaches Finland for innovation cooperation

Thanks to the meetings between the Minister of Economic Affairs of Finland, the Finnish ambassador to Thailand, the Finnish business delegation comprising of representatives from 18 companies and the NIA board of directors on August, 20, Thai and Finnish government are planning to promote cooperation in the field of innovation to push forward Thailand 4.0 policy.

Moreover, they are looking forward to joint ventures in bio economy in the area of renewable energy and circular economy, hoping to draw Finnish startups to invest in Thailand.

Dr. Pun-Arj Chairatana, the director of National Innovation Agency said that NIA has increasingly expanded cooperation with other countries to accelerate Thailand’s growth in innovation. It expects to sign G-to-G Memorandum of Understanding with Finland in order that private businesses in two countries will be matched up and that requires combined effort and cooperation between government and private sectors.

NIA currently has a strong network of 140 universities, 120 corporate venture capitals and 2000 startups. It helps coordinate with other government agencies to facilitate foreign entrepreneurs in setting up a business in Thailand. In addition, they will be granted tax incentive from BOI and Smart visa.

Finnish private businesses are particularly drawn towards bio-refinery industry, which is a part of bio-economy that Thai government has been promoting, waste management system in manufacturing plants, a part of circular economy and, of course, renewable energy.

Previously NIA has joined force with Japan, Israel and France. Finland is now capturing its interest. During a visit to this country in this November, NIA and its representatives will have further discussions about the cooperation between the two countries. In addition, NIA is planning to expand cooperation with Chili, Sweden and Norway.

Finland is now looking for highly skilled system integrators to partner with, hoping they can bring Finnish technologies to push Thailand forward and to expand its R&D investments in Thailand.

NIA expects to further cooperation with Finland at startup level, paving the way for Thailand to be a testing ground for this country in expanding investment in SEA. Through the partnership NIA reckons on people development in terms of work skills that are deemed essential in the years ahead, for instance skills to manage automated machines and to conduct data analysis. In addition, NIA aims to study and apply Finland’s successful model in developing innovation districts. It’s also expected that there will be join ventures in large businesses listed on SET in strategic industries such as renewable energy industry and natural resource-based industry.

Mika Lintila, the minister of Economics Affairs of Finland, said that he has led the business delegation comprising of 18 representatives from Finnish leading companies. These companies have already had ongoing investments and now eye opportunities to invest more in Thailand, hoping to expand cooperation between the two countries.

Finland has been heralded for innovation and high-quality, world-class education which are its strengths. The country also pioneered the use of smart energy and is known for its waste-to-energy solutions and smart grids. Today around 40% of energy produced in the country come from biomass, water, wind and sun and the digital technologies are significantly used for its production.

This Nordic country has been leading the way in digital technologies as well. It is well recognized for Internet of Things (IoT), the operation of automated factory, the making of a smart city, wireless communication and high-speed data transmission technologies, security technologies and highly advanced information technology.

Finnish government has recently established the Business Finland, of which the headquarter is based in Helsinki, to provide supports and offer funding in order to promote innovations, trades, investments and traveling. It aims to create growth at a global level as well as world-class business ecosystem. Being a part of The Team Finland Network, Business Finland intends to strengthen international economic relations and help Finnish businesses successfully breaking into foreign markets.

Finnish companies that actively take part in this promising meeting in Thailand are Valoe Corporation, known for its core expertise in solar energy, Valmet , the leader in pulp and paper industry, CS Control Software Oy which specializes in automation solutions for several industries. Additionally, there will be private sectors to help governments transforming traditional business processes into full-on digitization.

Others participating in the meeting are Airbus Defence, Space Oy, BC Platforms, Chempolis Oy, C, Ductor Oy, Evolta Oy, Mediconsult, Miraysys Oy, Nokia Solutions and Networks, Satel Oy. St1Renewable Energy Ltd., The Synergy Company Finland Oy, Trimble, Watrec Ltd., Wirepas Oy and Wartsila Corporation.