Thailand unveils tech hub project worth half a billion dollars to boost start-up scene

To be completed by mid-2018, True Corporation's digital hub will span 200,000 square meters, reports Tech in Asia

Things are heating up in Thailand. Months after the government announced a plan to launch a $570 million venture fund for developing the start-up ecosystem, True Corporation, one of the country’s biggest mobile operators, has unveiled a massive digital hub project said to be worth over half a billion dollars.

CEO Suphachai Chearavanont says the project – now underway and to be completed by mid-2018 – is the company’s way of supporting the government’s goal of making the country a regional centre for innovation.

The hub, called True Digital Park, will span 200,000 square meters of Whizdom 101, a mixed-use real estate complex being built by Magnolia Quality Development Corporation in Bangkok. The property will cost $577 million to develop and True Corporation will invest $43 million to install the digital infrastructure, according to local media. It’s unclear whether True will be the one shouldering the development cost, but we’ve reached out to the company to confirm. We will update this story when we hear back.

The project will feature a huge co-working space in an open-air green area, offices, and data centres, with amenities, broadband and an advanced 4G network. 

Suphachai says they want to propel Thailand’s start-up ecosystem and make the country’s talent pool more competitive through the transfer of knowledge and expertise within the hub.

Owned by Thailand’s richest man Dhanin Chearavanont (Suphachai’s father), True Corporation has made big bets on the tech scene. Apart from the digital hub, it launched a start-up accelerator program where it’s working closely with Silicon Valley venture capital firm 500 Startups. This is an excerpt from Tech in Asia. You can read the full article here