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Digital Penang Launches Market Access Thailand Program to Propel Startups into Southeast Asian Market

Penang, 26 July 2024 – Digital Penang has unveiled the Market Access Thailand program, aiming to catapult Penang’s startups into the thriving Thai market. This initiative, in line with the Penang2030 vision, seeks to position Penang as a premier digital technology hub.

YB Zairil Khir Johari, Penang EXCO for Infrastructure, Transport, and Digital, announced the program, emphasizing the state’s unwavering commitment to digital transformation. “Thailand’s dynamic economy and robust digital infrastructure make it a strategic choice for market expansion,” he said.

Following the success of the Market Access Indonesia initiative in 2023, which saw Penang startups secure RM 3.5 million in investments, this new program targets even greater achievements. Thailand, with 90% household internet access and a top-tier automotive industry, offers fertile ground for growth.

Five standout startups—ADA Biotech, Haroct Technologies, Mobula Research, Waterbay, and Visionlytics—have been selected. These companies span diverse sectors, including Biotech, Agritech, Healthtech, and Manufacturing Solutions.

A key highlight is Digital Penang’s partnership with Techsauce and Tru Digital Park in Thailand, providing startups with essential local expertise and mentorship. Ts. Ng Kwang Ming, CEO of Digital Penang, noted, “This collaboration equips our startups with the insights and connections needed for a successful market entry.”

The Penang State Government remains dedicated to supporting these startups, offering resources and opportunities to excel in the regional market.

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