August 2026 – STARTUP THAILAND

Breaking into Indonesia in 2026: 5 Lessons from Thai Startups on the Ground

Breaking into Indonesia in 2026:

5 Lessons from Thai Startups

on the Ground

Indonesia is steadily emerging as one of Southeast Asia’s most important startup markets.

According to the StartupBlink Global Startup Ecosystem Index 2026, Indonesia ranks 45th globally and third in Southeast Asia, while Jakarta—the country’s business and technology hub—stands at 33rd worldwide and second in Southeast Asia. These rankings reflect the growing strength of an ecosystem shaped by entrepreneurs, investors, technology companies and an expanding innovation support infrastructure.

With a population of 277.5 million, as reported by StartupBlink in 2026, Indonesia’s sheer market size is another powerful draw for businesses and investors around the world. Add to that a rapidly expanding digital economy and rising demand for technology across multiple industries, and Indonesia is no longer simply ASEAN’s largest market by population. It is increasingly becoming a strategic destination for startups looking to expand beyond Thailand and into the wider region.

But market size tells only part of the story.

In practice, Indonesia is a highly complex market. Differences between cities and regions, consumer behavior, regulation, infrastructure and business culture all play a role. Relationships and trust can be just as important as technology and commercial potential.

A product that succeeds in Thailand cannot simply be transplanted into Indonesia with the expectation of achieving the same result.

The more important question, therefore, is not simply:

“How big is the opportunity in Indonesia?”

It is: “How can Thai startups turn that opportunity into real business?”

Under the Scaleup to Global 2026: Gateway to ASEAN programme, the National Innovation Agency (Public Organization), or NIA, brought five Thai startups to Indonesia to explore the market first-hand. The companies met with investors, government agencies, private-sector organizations and key players across the innovation ecosystem, gaining direct exposure to both the opportunities and the challenges of operating in the country.

The 5 companies represented very different sectors—from Circular Economy and HealthTech to FinTech, Mobility and AI. Yet their experiences pointed to one common lesson:

There is no universal formula for entering Indonesia.

Having a good product is only the beginning. What matters just as much is knowing where that product belongs in the market, who it should create value with, and how it needs to adapt along the way.

Indonesia: A Large Market That Demands More Than a Reading of the Numbers

When people think of Indonesia, the first thing that often comes to mind is its enormous population.

But behind the numbers lies an archipelagic economy spread across a vast number of islands, with significant differences from one location to another.

Those differences are not merely geographical. Purchasing power, consumer behavior, infrastructure, business practices and levels of technology adoption can vary considerably across cities and regions.

For startups entering the country, treating Indonesia as one single market may therefore be the wrong starting point.

A more practical approach may be to identify the right “first city” or “first market”—one that best matches the startup’s solution—and use it as a controlled environment for testing, gathering data and building a local case study before expanding further.

One example is BSD City, developed by Sinar Mas Land, where a technology ecosystem has been established through its Digital Hub. The area has been developed around the concept of an Integrated Smart Digital City, bringing together startups, technology companies, educational institutions and multinational corporations.

Today, technologies including AI, IoT, Digital Twin and Data Analytics are being applied across urban management, traffic systems, security and smart buildings.

For international startups, environments like this can provide an opportunity to test solutions under real-world conditions—through pilots or Proofs of Concept (POCs)—while collecting data and learning directly from users and local partners.

In a market as diverse as Indonesia, starting small with a clear strategy may ultimately be the safest way to scale big.

Five Thai Startups, Five Lessons from the Field

The experiences of the five participating companies demonstrate that every industry comes with its own market-entry challenges.

More importantly, they show that what works in Thailand does not necessarily translate directly to Indonesia.

Alive Loop: A Green Solution Must Also Deliver Business Value

Alive Loop is a recycling platform that transforms difficult-to-process packaging waste, including multilayer foil, into materials that can be reused by industry.

Its experience in Indonesia revealed that the challenge is not simply proving that the technology works. It is also about building confidence among local partners and customers.

For an environmental solution, talking about sustainability alone may not be enough.

Customers and business partners also need to see tangible commercial value—whether through lower costs, improved efficiency or measurable business returns.

Alive Loop’s experience highlights an important principle:

A green solution that succeeds in the real market must create both environmental and economic value.

Dietz Asia: In HealthTech, Regulation Comes First

For Dietz Asia, a telemedicine platform connecting hospitals, clinics and home-based chronic care, the market opportunity is only one part of the equation.

The other is the regulatory environment.

HealthTech companies cannot enter a new market using the same playbook as a conventional digital business. Their operations are closely linked to regulations, oversight mechanisms, certification processes and the structure of the healthcare system itself.

Affordability and service-delivery models are also crucial factors when designing a viable business model.

For this reason, startups entering the sector should begin with regulatory mapping—understanding the relevant requirements before committing significant resources to market development.

Regulation is not merely a hurdle at the point of entry. It can shape the product, operating model and commercial strategy from the very beginning.

Chill Pay: FinTech Requires Understanding the Entire Ecosystem

For Chill Pay, a payment gateway provider expanding into cross-border commerce, Indonesia demonstrated the importance of understanding the wider market structure—not just the technology.

Indonesia’s digital payment ecosystem has continued to develop, with QRIS serving as an important national standard for QR-based payments. QRIS has also been connected with Thailand’s PromptPay system to support cross-border payments.

This illustrates how the opportunity in FinTech extends beyond payment connectivity itself. It also opens the door to cross-border commerce and new services built around stronger economic links between countries.

At the same time, providers must understand consumer behaviour, competition, operating costs and price sensitivity.

In a market with many competing players, technology alone is rarely enough. The winning proposition also requires a business model that genuinely fits the market.

ViaBus: To Solve a City’s Problems, Start by Understanding the City

ViaBus provides an integrated digital platform for managing public transportation and mobility services.

For the company, the key challenges in Indonesia revolve around data, transportation infrastructure and the specific context of individual cities.

Its experience in Thailand therefore cannot be applied wholesale.

The company needs to build relationships with local transport operators and understand how the needs of each city differ—not only in terms of public services, but also in how transport businesses operate.

The lesson from ViaBus is straightforward:

If technology is meant to solve an urban problem, the starting point should be the city—not the technology.

MUI Robotics: Deep Tech Must Move from Technology Readiness to Market Readiness

MUI Robotics develops AI-Nose, an electronic nose technology designed to detect smell and taste characteristics for quality control in industrial manufacturing.

Its experience showed that even in a market with strong interest in AI and Deep Tech, advanced technology does not automatically translate into commercial adoption.

Regulation, industry standards, user readiness and the process of integrating new technologies into production systems all need to be considered.

In this context, a local partner can play a far more important role than simply introducing potential customers.

The right partner can help a startup understand local standards, procurement processes and the practical needs of industries on the ground.

The central challenge, therefore, is moving from:

“Technology Readiness” to “Market Readiness.”

Three Things Thai Startups Need to Know Before Entering Indonesia

Taken together, the five companies represent very different industries. Yet their experiences reveal three shared lessons that apply across sectors.

Localization Is More Than Translation

True localization involves much more than translating a product into Bahasa Indonesia.

It means adapting the product, pricing, sales channels and business model to fit the local market.

What Thai customers are willing to pay for, how they use a product and how they make purchasing decisions may be very different from customers in Indonesia. Those differences may even vary from one Indonesian city or region to another.

So before entering the market, the key question should not simply be:

“How do we translate our product into Indonesian?”

It should be: “What do we need to change about our product so that it truly fits this market?”

A Local Partner Can Be the Gateway to the Market

Business relationships matter deeply in Indonesia.

A strong local partner does much more than help generate sales. The right partner can provide access to business networks, government agencies, investors, service providers and key decision-makers.

For international startups, this local understanding can significantly reduce the time, cost and risk associated with market entry.

But startups should avoid viewing a partner solely as a distributor or sales agent.

The greater opportunity lies in finding a strategic partner—one that can help develop the market, navigate local complexity and create business value together over the long term.

Do Not Scale Before You Validate

A large market can create pressure to expand quickly.

But in Indonesia, the smarter strategy may be to begin with one carefully selected market or location, learn from it, and expand only when there is enough evidence to support the next move.

A useful progression is:

POC → Pilot → Validate → Scale

Start by testing the product with real customers or partners. Gather data. Learn from feedback. Refine the product-market fit. Then invest in broader expansion.

One proven case study in Indonesia may ultimately be far more valuable than an ambitious nationwide expansion plan with no real customers behind it.

When Pitching Is About More Than Raising Capital

Another important lesson from the market visit is that pitching overseas is not always about fundraising.

When pitching to investors, startups need to demonstrate growth potential, market size, business model, competitive advantage and expected returns.

But when pitching to a corporate or strategic partner, the conversation changes.

The most important questions become:

“What problem can we solve for you?”

And “What value can we create together?”

A market-entry pitch deck should therefore make several things clear: what the company wants from the market, what type of partner it is looking for, what it hopes to test, and what outcomes both sides could achieve together.

Preparing well is no longer only about defining what you want to sell.

It is also about defining what you want to build together.

From Seller to Co-Creator

StartupBlink’s 2026 rankings underline Indonesia’s growing importance in the regional startup ecosystem. The country ranks 45th globally and third in Southeast Asia, while Jakarta ranks 33rd worldwide and second in the region.

But rankings do not make market entry easy.

What moves a business forward is a deeper understanding of local context—the ability to choose the right market, build trust and work with partners who can contribute to long-term success.

For Thai startups, Indonesia should therefore be viewed not simply as a “large market”, but as a collection of cities, industries and opportunities that need to be matched carefully with each company’s strengths.

The experience of the five startups under the Scaleup to Global 2026: Gateway to ASEAN programme does not suggest that there is one formula for entering Indonesia.

Instead, it points to a more useful way of thinking:

Understand the market → Choose the right arena → Find a local partner → Test in the real market → Localise → Then scale

Because going global today is no longer simply about taking what we already have and selling it to the world.

It is about bringing Thai technology, expertise and innovation into new markets—and creating value together with partners there.

Indonesia may well become one of ASEAN’s most important testing grounds for Thai startups to learn this lesson first-hand:

Global growth does not begin by expanding as far as possible. It begins by understanding the market as deeply as possible.

Startup Thailand Connext: GO ASEAN Unlocking Opportunities in Laos and Indonesia

Startup Thailand Connext:

GO ASEAN Unlocking Opportunities

in Laos and Indonesia

Expanding from Thailand into ASEAN may appear to be a relatively short leap. The region is geographically close, culturally familiar, and economically interconnected. Yet in practice, every market operates within its own economic structure, consumer behavior, business culture, and regulatory environment.

A business model that succeeds in Thailand cannot simply be transplanted into another country and expected to deliver the same results. Sustainable regional growth requires something more fundamental: the ability to understand local realities, identify the right partners, and adapt a solution to the problems that matter in each market.

This was one of the key messages emerging from Startup Thailand Connext: GO ASEAN, part of the Global Startup Hub 2026 program. The session brought together market experts and Thai startups with first-hand experience of international expansion, offering practical perspectives on both the opportunities and challenges of entering ASEAN.

Two markets illustrate just how different regional expansion strategies can be: Lao PDR and Indonesia.

Laos offers proximity, connectivity, and a growing role within regional supply chains. Indonesia, meanwhile, presents a vast and rapidly transforming economy shaped by digitalization, energy transition, sustainability, and healthcare innovation.

Their differences highlight an important principle for startups looking beyond Thailand: market selection should not be driven by size alone. The better question is what problem exists in that market, and whether your business is equipped to solve it.

Laos: A Nearby Market with Value Beyond Population Size

In the session “Unlocking Laos: Your Market Entry Guide,” Rungsun Promprasith, CEO of Startbox – Laos, shared insights into the opportunities and practical considerations for entering the Lao market.

With a population of approximately seven million, Laos may initially appear modest in scale. Yet evaluating the country solely by the size of its domestic consumer market risks overlooking one of its most important strategic advantages: geography.

Once commonly described as a landlocked country, Laos is increasingly positioning itself as a land-linked hub, connecting Thailand, China, Vietnam, and other regional markets.

Major infrastructure projects, including the China–Laos Railway and the Thanaleng Dry Port, are strengthening the country’s logistics capacity and expanding its role in cross-border trade.

For Thai businesses, this shift creates opportunities that go well beyond selling products to Lao consumers. Potential areas include manufacturing, food processing, logistics, data management, and technologies that improve the efficiency and transparency of cross-border supply chains.

For startups in particular, Laos can serve several roles at once: a test market, a place to develop local partnerships, and a strategic gateway to neighboring economies.

Its cultural and commercial proximity to Thailand may also make it a useful environment for testing technologies or business models before expanding further into the region.

That proximity, however, should not be mistaken for simplicity.

Administrative processes, financial systems, regulations, and business practices can differ significantly from those in Thailand. For foreign entrepreneurs, a capable local partner can therefore be critical—helping navigate procedures, provide market intelligence, open doors to business networks, and establish connections with relevant public and private-sector stakeholders.

Laos may not stand out because of its market “size,” but it can play an important role because of its position—both geographically and strategically.

Indonesia: One Large Market Made Up of Many Different Markets

If Laos is best viewed through the lenses of supply chains and connectivity, Indonesia requires a different perspective: scale, diversity, and economic transformation.

During the session “Gateway to Indonesia: Support and Services for Thai Startups,” Ester Widya, VP Business & Marketing at KUMPUL, Indonesia, introduced the dynamics of the Indonesian market and the support mechanisms available to Thai startups seeking to enter its business ecosystem.

Entering Indonesia was likened to stepping into a vast amusement park: there is something for every kind of player, from thrill seekers willing to take bold risks to businesses looking for a more measured entry point.

At the same time, the market can also resemble a vast forest—one where companies may discover a gold mine of opportunities or encounter obstacles they did not expect. Success often depends on having the right guide and, just as importantly, knowing who to connect with once inside the market.

Indonesia is Southeast Asia’s most populous country, with more than 280 million people. It also has more than 221 million internet users, representing close to 80% of the population.

The combination of population scale and growing digital adoption makes Indonesia one of the region’s most promising markets for technology and digital businesses.

Yet 280 million consumers do not constitute one uniform market.

Indonesia comprises more than 17,000 islands, over 700 ethnic groups, and a large number of local languages. Although Bahasa Indonesia serves as the national language, significant differences remain across regions in consumer preferences, commercial practices, local networks, and economic conditions.

For startups, the key question is therefore not simply:

“What can we sell to 280 million people?”

A more useful set of questions is:

“Where should we begin? Which customers should we focus on? And which problem should we solve first?”

This is where hyper-localization becomes essential.

Rather than attempting to cover the entire country from day one, startups should identify the city, customer segment, or industry where their solution has the strongest chance of gaining traction—and expand from there.

Three Emerging Economies Creating New Opportunities

Indonesia’s attraction goes beyond population growth. The country is undergoing several major economic transitions that are opening new spaces for innovation.

The Digital Economy

The first is the continuing expansion of Indonesia’s digital economy, spanning e-commerce, new retail, direct-to-consumer businesses, digital government, smart cities, and EdTech.

As more Indonesians participate in digital services, new demand is emerging from consumers, businesses, and public-sector organizations alike.

For technology startups, this creates opportunities not only in consumer platforms but also in enterprise solutions, infrastructure, data, payments, public services, and digital transformation.

The Green Economy

The second major opportunity lies in the green economy.

Indonesia holds strategically important natural resources, including nickel and palm oil, while simultaneously pursuing a broader energy transition.

This is generating demand for renewable energy, energy-transition technologies, sustainable agriculture, green supply chains, and environmental management solutions.

For Thai startups, areas such as ClimateTech, EnergyTech, Agritech, FoodTech, and carbon management may offer particularly strong opportunities—especially where technologies can demonstrably reduce costs, improve productivity, or mitigate environmental impacts.

The Wellness Economy

The third growth area is the wellness economy, encompassing HealthTech, telemedicine, digital health, wellness tourism, beauty, healthcare services, and wellbeing products.

Tourism destinations such as Bali have also developed strong wellness ecosystems, creating additional space for products, services, and technologies at the intersection of tourism, healthcare, and lifestyle.

As these three economic shifts converge, new hybrid opportunities are emerging: AI-enabled healthcare management, IoT-based energy optimization, and data-driven green logistics are just a few examples.

For Thai startups, the opportunity is therefore not simply to export “Thai products” to Indonesia. It is to bring technology, expertise, and innovation into the country’s evolving economy and solve problems that matter locally.

Opportunities Remain, Even as Investors Become More Selective

Indonesia’s startup market continues to hold considerable potential, but the investment climate has become more cautious.

Data presented during the session indicated that startup funding had declined by approximately 49%, falling to around US$355.7 million compared with an earlier period.

Yet investment has not disappeared. Capital continues to flow toward business models that are closely tied to real economic activity and consumer demand, including Fintech, New Retail & D2C, and E-Commerce.

The shift offers an important lesson.

A decline in funding does not necessarily mean a decline in market opportunity. Instead, the basis of competition is changing.

Startups are increasingly expected to demonstrate that their technology can generate revenue, reduce costs, improve efficiency, or solve a measurable customer problem—not simply acquire users or grow through capital.

For Thai startups, Indonesia should therefore not be viewed only as a market for fundraising. It can also be a market for building customers, corporate partnerships, and proof-of-concept projects that establish the foundation for long-term expansion.

Choosing the Right “First Market” Within Indonesia

One of the most common mistakes when entering Indonesia is to treat the entire country as a single market.

In reality, economic structures and business environments vary considerably from one region to another.

Indonesia has a decentralized administrative system spanning 38 provinces, which means that regulatory details, requirements, procedures, and incentives can vary by location.

At the national level, business establishment and investment are connected to systems overseen by BKPM and the Online Single Submission (OSS) platform, which consolidates a range of licensing and administrative processes.

For startups, location should be selected according to the business model.

Jakarta and Bali, for example, may be attractive starting points for digital and technology companies seeking networks, customers, and market-testing opportunities.

Manufacturing-oriented businesses, by contrast, may need to consider regions with stronger industrial bases, access to resources, or specific supply-chain advantages, including parts of Sumatra and Borneo.

The important point is that startups do not need to scale across the entire country immediately.

They need to identify the first market where they are most likely to achieve product-market fit, build the right partnerships, and generate evidence that the model works.

Expansion can follow once that foundation is in place.

In Indonesia, Relationships Are Part of the Business Infrastructure

A strong technology solution may be enough to secure an initial meeting. It is rarely enough to close a deal on its own.

One of the defining characteristics of doing business in Indonesia is its relationship-driven and partnership-based culture.

Trust, credibility, and long-term relationships often carry as much weight as the commercial proposition itself.

This means effective business matching should go beyond introductions or business-card exchanges. The real value lies in understanding a partner’s pain points, identifying areas for collaboration, running pilots, and developing proof-of-concept projects.

For foreign startups without an established local team, a reliable local partner can therefore be one of the most important assets.

Local partners can help connect startups with corporate customers, government agencies, investors, and industry networks that may otherwise be difficult to access.

In a market as large and diverse as Indonesia, relationships are not merely helpful—they are part of the infrastructure required to do business.

KUMPUL: From Ecosystem Network to a Gateway into Indonesia

Within this environment, KUMPUL has developed a significant role as one of Indonesia’s ecosystem enablers.

The organization began as a coworking space in Bali in 2015 before expanding its network across the country.

Today, KUMPUL works with more than 130 local hubs and ecosystem partners, as well as over 300 industry partners. Its experience spans support for startups and MSMEs, business matching, and programs designed to help international entrepreneurs connect with the Indonesian market.

For Thai startups, the value of such a network lies not simply in providing “market information.”

Its greater value is in reducing the distance between market knowledge and actual market access.

Indonesia also has a broad base of large corporate players across multiple industries, including banks and financial institutions such as Mandiri, BNI, and BRI, as well as technology and telecommunications companies including Lintasarta and Indosat Ooredoo Hutchison.

Beyond these sectors are major businesses in real estate, insurance, consumer goods, and other industries.

The opportunity for Thai startups therefore extends well beyond Indonesia’s 280-million-plus consumers.

There is also significant potential in B2B, corporate innovation, and industrial solutions, where demand for new technologies continues to grow.

Three Thai Startups, Three Lessons from Real Market Entry

Beyond market intelligence, Startup Thailand Connext: GO ASEAN also featured experiences from three Thai startups that have already ventured into international markets: TIE Smart Solutions, BOTNOI Group, and ViaBus.

Their stories offer practical lessons on what it really takes to expand beyond Thailand.

TIE Smart Solutions: Build Trust with Evidence

For TIE Smart Solutions, data became a tool for establishing credibility.

The company began by measuring and evaluating the energy-saving performance of its solutions for customers. This created a body of evidence that could demonstrate actual results before the company entered discussions with overseas partners.

Another important lesson was the decision to collaborate with local players rather than compete against them directly.

By transferring knowledge and working with local partners, the company could expand without having to deploy a full Thai team to manage every stage of operations.

The lesson is straightforward: evidence builds credibility, while partnerships make expansion scalable.

BOTNOI Group: Treat Market Entry Like Climbing a Mountain

BOTNOI Group compared international expansion to climbing a mountain.

Before reaching the summit, a company first needs to understand the route.

That means entering the market, observing local conditions, returning to refine the product, and finding the right people to make the journey with.

One particularly practical lesson is that localization does not always need to begin with heavy investment.

Foreign nationals already living in Thailand, for example, can sometimes serve as native-language testers and help startups develop prototypes or localized product versions before committing significant resources to the target country.

This allows companies to learn faster and reduce risk before making a larger market-entry investment.

ViaBus: Understand Who Really Shapes the Market

For ViaBus, understanding market structure is critical—particularly in businesses related to transportation and public services.

Every city has its own operators, stakeholders, decision-makers, and institutional dynamics.

Market research, therefore, cannot stop at competitor analysis.

Startups must understand who makes decisions, who influences those decisions, and which partners are essential to making the business model work.

ViaBus also demonstrated the value of presenting its product within a localized context, recreating scenarios relevant to the target country so that potential partners could clearly see how the technology would solve a specific local problem.

Across all three companies, one principle stands out:

International expansion should not begin with the question, “What do we have to sell?”

It should begin with:

“What problem does this market need solved—and how can we solve it?”

From Laos to Indonesia: There Is No Single Formula for GO ASEAN

Looking at Laos and Indonesia side by side reveals that these are not simply two markets of different sizes.

They can play fundamentally different roles in the growth strategies of Thai startups.

Laos offers geographical proximity and a growing position as a land-linked hub. It may be particularly relevant for companies operating in supply chains, manufacturing, food processing, logistics, and cross-border technologies, as well as startups seeking to test solutions in a market with certain similarities to Thailand.

Indonesia, by contrast, is a market for companies ready to operate at greater scale while managing a significantly higher level of complexity.

The strongest opportunities may be found among startups capable of contributing to the country’s rapidly developing digital, green, and wellness economies.

The decision between markets, therefore, should not begin with:

“Which country is bigger?”

It should begin with:

“Does this market’s problem match what our business is capable of solving?”

GO ASEAN Is Not Just About Selling Abroad. It Is About Growing with the Market.

Ultimately, the lesson from Startup Thailand Connext: GO ASEAN is not that every Thai startup should choose one particular ASEAN country over another.

It is about changing the way founders think about international expansion.

Going ASEAN is not a matter of packing a product that succeeded in Thailand and selling the same thing across the border.

It means entering a market prepared to learn.

What problems are customers trying to solve? How does the local ecosystem work? Which relationships matter? Where do decisions get made? And how must the product, business model, or partnership strategy change to fit the market?

In Laos, the opportunity may lie in becoming part of a more connected regional supply chain.

In Indonesia, the opportunity may lie in helping shape new sectors of an economy undergoing rapid transformation.

Yet whether the market is large or small, one principle remains constant:

Great technology alone is not enough. It must be supported by market understanding, the right partners, and the ability to adapt.

Because international growth does not happen simply when a company enters a market.

It happens when that company learns to understand the market, earn trust, solve a real problem, and grow alongside it over the long term.

Turning Pain Points into Opportunities: 3 Innovations from Startup Thailand League 2026

Turning Pain Points

into Opportunities:

3 Innovations from

Startup Thailand League 2026

Startup Thailand League 2026, organized by the National Innovation Agency (Public Organization) or NIA, is evolving beyond a university competition. It is becoming an important platform for transforming academic knowledge, research and creativity into market-ready products and businesses.

This shift comes at a critical moment for Thailand, as the country confronts challenges ranging from environmental pressures and industrial transformation to the need to strengthen agricultural competitiveness.

What makes this year’s competition particularly compelling is not simply the novelty of the technologies presented. It is the way each team began with a real-world problem and applied knowledge and innovation to develop solutions with genuine commercial potential—from industrial materials and advanced textiles to agricultural productivity.

The three finalists highlighted below demonstrate how a new generation of innovators is creating fresh value for Thailand’s economy.

LuXene: Turning Waste into Lubrication for a Greener Industry

The first prize went to LuXene from Kasetsart University, a Deep Tech team developing bio-based industrial lubricants under a Waste-to-Value concept. Its mission is to transform industrial waste into high-value products.

Reducing dependence on fossil-based resources while lowering environmental impact has become a key priority for manufacturers. At the same time, lubricants remain essential to industrial production. LuXene addresses both challenges by converting lipid-based industrial waste—including materials derived from palm oil—into bio-based lubricants, initially focusing on cutting fluids for metalworking applications.

The team’s distinctive advantage lies in its use of molecular-level design to tailor lubricant properties for different machines and operating conditions. The resulting product also offers strong environmental benefits, with biodegradability of up to 69.2 per cent and a carbon footprint of less than 0.30 kilograms of carbon dioxide equivalent per litre—helping reduce the impact associated with petroleum-based lubricants.

LuXene is therefore more than an alternative lubricant. It is an example of how science and technology can unlock new value from existing resources—turning waste into raw materials and connecting university research with the needs of industry. This is precisely the kind of innovation that can help Thai manufacturing move towards greater efficiency and environmental responsibility.

urformance: Textile Technology Designed for a Hot and Humid Climate

Another standout was Siberian from Mahidol University, whose project, urformance, received first runner-up honours. The team applied textile technology to develop clothing suited to Thailand’s hot, humid climate and the increasingly active lifestyles of modern consumers.

Heat and humidity often lead to sweat accumulation, discomfort and unpleasant odours. urformance addresses these issues through a two-layer fabric structure. One layer draws moisture away from the skin, while the other spreads the moisture and accelerates evaporation, helping the wearer stay drier and more comfortable.

The fabric also incorporates micro-encapsulated fragrance technology, releasing a scent through movement and friction. Additional features include UV protection, antibacterial properties and odour control, allowing the product to serve purposes beyond conventional sportswear.

The concept, “One Outfit All Day,” reflects a product design philosophy rooted in consumer behavior. The aim is to create clothing that can move seamlessly from a morning workout into the rest of the day.

At the same time, urformance demonstrates how research and textile science can differentiate Thai products, respond to local environmental conditions and add new value to the country’s textile industry.

BNNK: Accelerating Agarwood Formation and Creating Greater Agricultural Value

The second runner-up award went to BNNK, the team behind Baan Na Nam Khem Agarwood Farm from Thaksin University. The team developed an agricultural technology designed to address one of the sector’s most significant challenges: the long time required to form agarwood heartwood.

Agarwood is a high-value agricultural product used in perfumes, incense and premium lifestyle products. However, natural heartwood formation can take as long as six to seven years, leaving farmers to bear the costs of cultivation and maintenance while waiting for their harvest.

BNNK has developed a resin-inducing agent that can reduce the formation period to approximately two years.

Beyond shortening the production cycle, the innovation focuses on preserving wood quality and improving product safety. It also supports more effective prediction of essential oil formation and heartwood quality, helping farmers manage production with greater confidence.

The result is not merely higher agricultural output. It is a reduction in time—a critical cost for farmers. Shorter production cycles can improve planning, strengthen income opportunities and support the cultivation of premium-quality agarwood for markets across Asia and the Middle East.

BNNK illustrates how technology can strengthen agriculture at its source without replacing local resources or erasing regional identity. Instead, it brings scientific knowledge into the equation to improve the efficiency and value of what farmers already have.

From Three Innovations to a New Vision for Thailand’s Economy

Although the three teams come from different disciplines and address different challenges, they share one defining characteristic: each transforms knowledge into new economic value.

LuXene demonstrates how Deep Tech can convert waste into products for a greener industrial economy.

urformanceshows how textile research can respond to both environmental conditions and changing consumer behavior.

BNNK illustrates how science can overcome agricultural constraints, improve productivity and create stronger income opportunities for farmers.

Together, the teams embody a powerful progression:

Knowledge → Innovation → Product → Business

This is at the heart of moving research from the laboratory into the marketplace. Innovation does not end with the creation of something new. Its true value lies in its ability to work in the real world, solve meaningful problems and generate economic and social impact.

The achievements of the Startup Thailand League 2026 therefore represent far more than the results of a competition. They reflect the potential of a new generation that is helping shape Thailand’s innovation-driven economy—one in which universities serve not only as sources of knowledge, but also as launchpads for entrepreneurs and businesses.

As Thailand faces intensifying competition driven by technological change, climate pressures and shifting economic structures, the ability to create value from knowledge will become increasingly important to the country’s competitiveness.

The three innovations emerging from the Startup Thailand League 2026 offer a clear reminder that meaningful change may begin closer than we think—within university campuses where young people are given the opportunity to turn ideas into innovations with real-world potential.

And when it comes to expanding into international markets, the starting point is not simply the question, “What can we sell in a new market?”

The more important question is:

“What problems is that market facing—and can our technology genuinely solve them?”

Built to Solve: How 5 Thai Deep Tech Startups Are Scaling Regionally via Singapore

Built to Solve: How 5 Thai Deep Tech Startups

Are Scaling Regionally via Singapore

Singapore may not be the largest market in ASEAN by population, but it is emerging as one of the region’s most important launchpads for startups seeking to validate enterprise-grade technologies and expand across Asia.

The Global Startup Ecosystem Index 2026, published by StartupBlink, reflects this momentum. Singapore has risen to fourth place globally for startup ecosystems, recording the fastest growth among the world’s top 10 ecosystems at 24.4%. Singapore City has also entered the global Top 10 for the first time, ranking 10th with an impressive growth rate of 26.7%.

This growth represents more than an increase in the number of startups. It reflects the scale of ecosystem activity, the quality of businesses and capital, and the maturity of the wider business environment—factors that have strengthened Singapore’s position as a hub for entrepreneurs, investors, technology companies and regional enterprises.

In 2026, Singapore continues to serve as a strategic base for companies managing operations across Asia. According to the Singapore Economic Development Board (EDB), the country is Asia’s leading destination for regional headquarters, supported by world-class infrastructure, skilled talent, strong connectivity and a business-friendly environment.

For Thai startups, Singapore is therefore more than a “new market”. It is a platform for validating technology, building credibility, connecting with strategic partners and expanding into other ASEAN markets.

Beyond Innovation: A Market That Demands Results

One of the biggest mindset shifts required when entering Singapore is moving beyond selling technology and toward demonstrating business outcomes.

Large enterprises are rarely persuaded by innovation alone. They invest in technology when it can clearly solve a problem, improve efficiency, reduce costs, mitigate risk, or create measurable business value.

The AI sector provides a compelling example. In 2026, Singapore’s focus has evolved from AI experimentation to enterprise-scale implementation. The government has committed SGD 1 billion over five years to support AI research, commercial deployment, and talent development. At the same time, policymakers are strengthening frameworks around Responsible AI and AI Governance to build trust in enterprise adoption.

A notable milestone is the introduction of the Model AI Governance Framework for Agentic AI, providing guidance for organizations deploying autonomous AI systems responsibly. The framework seeks to balance innovation with accountability, emphasizing risk management, transparency, and human oversight.

As a result, market entry no longer ends with a convincing product demonstration. Startups must be prepared to progress through pilots, proofs of concept, measurable validation, and eventually enterprise-wide deployment.

For Thai Deep Tech companies, this presents a unique opportunity. Singapore is increasingly rewarding technologies that are not only sophisticated but demonstrably effective.

Five Thai Startups, Five Opportunities

The journeys of Thai startups entering Singapore reveal an important common thread. Despite operating across different industries, each company is focused on connecting technology to real business challenges and creating tangible value for organizations.

Botnoi Group: From Chatbots to Enterprise Agentic AI

As AI evolves from an experimental tool into enterprise infrastructure, the opportunity extends well beyond chatbot development.

Botnoi Group brings extensive experience working with enterprise clients in Thailand and is leveraging that foundation to position itself as a provider of Agentic AI solutions. Acting as an engineering layer above foundation models, these systems can orchestrate complex, multi-step workflows while adapting to the specific operational needs of each organization.

In this environment, success is no longer measured by whether AI can answer questions. The true benchmark is whether AI can perform meaningful work and generate measurable business outcomes.

For Botnoi, Singapore represents an ideal market in which to translate proven experience into enterprise-scale AI adoption.

VEKIN (Thailand): When Climate Tech Becomes Business Infrastructure

Climate Tech is emerging as another major growth opportunity in Singapore. What was once viewed as a matter of corporate reputation is rapidly becoming an essential component of risk management, compliance, and business strategy.

Climate disclosure requirements continue to expand, with companies within the Straits Times Index expected to report Scope 3 greenhouse gas emissions beginning in Financial Year 2026. At the same time, the Singapore Exchange (SGX) continues aligning sustainability reporting standards with global frameworks.

Against this backdrop, VEKIN has the opportunity to move beyond the role of a conventional ESG platform and position itself as a critical data infrastructure provider.

Its technology enables organizations to systematically collect, analyze, and manage energy and carbon data, transforming fragmented information into actionable intelligence that supports reporting, auditing, compliance, and strategic decision-making.

Wisesight: Transforming Social Listening into Intelligence Infrastructure

Marketing analytics may not immediately come to mind when discussing Deep Tech. Yet in an economy driven by real-time decision-making, the ability to transform massive data streams into actionable insight remains a powerful competitive advantage.

Wisesight has the opportunity to evolve beyond social listening and become an enterprise intelligence infrastructure platform.

By analyzing online conversations and digital behavior, the company can help organizations improve marketing effectiveness, strengthen brand management, understand consumer trends, and respond proactively to emerging risks.

Its competitive edge lies not in the volume of data collected, but in its ability to turn information into timely insights that support better business decisions.

This positioning is particularly relevant in Singapore, where many regional headquarters require intelligence to guide operations across multiple markets simultaneously.

Ravis Technology: Unlocking Opportunities in HealthTech and Life Sciences

The HealthTech and Life Sciences sectors offer significant opportunities for technologies that can streamline highly regulated and document-intensive processes.

Ravis Technology develops AI-powered compliance solutions designed to reduce manual workloads and minimize the risk of errors associated with regulatory documentation and submission processes.

In Singapore, the path to growth may not begin with direct software sales. Instead, collaboration with healthcare providers, research institutions, and industry stakeholders can create opportunities for co-development and validation.

This approach allows Thai innovators to better understand market-specific requirements while building credibility through partnerships with established organizations.

Guardian AI Lab (Human Zero): Building Trust Before Scale

For early-stage startups such as Guardian AI Lab, the initial opportunity in Singapore may not be immediate revenue generation. Instead, it lies in building trust, developing relationships, and gaining a deeper understanding of enterprise challenges.

The company combines workflow automation with cybersecurity principles to help organizations reduce repetitive tasks while strengthening operational security.

At an early stage, success depends on establishing credibility, understanding data governance requirements, and identifying the right use cases before progressing toward pilot projects.

Guardian AI Lab demonstrates that entering a sophisticated market does not always begin with selling. Sometimes it begins with listening, learning, and earning a seat at the right table.

Singapore as a Gateway to Regional Scale

The experiences of these five startups point to a broader lesson: expanding into Singapore should not be viewed merely as entering a new market. It should be viewed as preparing a company for regional competition.

Singapore remains Asia’s leading hub for regional headquarters, hosting global corporations that oversee operations across multiple countries from a single location.

For technology startups, this creates access not only to customers, but also to multinational enterprises, investors, strategic partners, and decision-makers responsible for regional growth.

At the same time, Singapore continues to strengthen its support for Deep Tech innovation. Through Budget 2026, the government allocated SGD 1 billion to support Deep Tech investment across both early and growth stages through initiatives such as Startup SG Equity.

This makes Singapore far more than a market of potential buyers. It is an ecosystem that brings together customers, investors, partners, and support structures capable of accelerating regional expansion.

From Local Success to Regional Growth

Thailand remains an excellent environment for product development and customer acquisition. However, as startups pursue venture-scale growth, domestic success alone may no longer be enough.

Accessing international markets, regional corporations, and global investors becomes an essential part of the scaling journey.

Singapore illustrates that scaling does not require relocating an entire business. Instead, it involves leveraging the strengths of different markets. Thailand can continue serving as a base for innovation and product development, while Singapore provides access to strategic partnerships, regional enterprises, and broader ASEAN opportunities.

The Real Opportunity for Thai Deep Tech

Ultimately, the future of Thai Deep Tech is not defined by who builds the most sophisticated technology. It belongs to those who solve the most meaningful problems.

Singapore is a demanding market. It seeks more than innovation for innovation’s sake. It values solutions that are practical, secure, trustworthy, and capable of delivering measurable results.

From AI and automation to Climate Tech, Data Intelligence, HealthTech, and Cybersecurity, these five Thai startups demonstrate a shared principle: real business challenges can become gateways to new markets when technology is translated into solutions that address genuine customer needs.

Perhaps that is the most important lesson of all.

Scaling into Singapore does not begin with the question, “How advanced is our technology?”

It begins with a far more important one:

“What problem can we solve, and for whom?”

When that answer is clear, Singapore becomes more than a destination. It becomes a launchpad for validation, partnership, investment, and regional growth, enabling Thai innovation to compete not only across ASEAN, but on the global stage.

Turning Opportunity into Regional Impact

Recognizing this potential, Thailand’s National Innovation Agency (NIA) continues to support startups seeking international growth through the Scaleup to Global 2026: Gateway to ASEAN program.

The initiative is designed to connect Thai startups with business opportunities, investors, strategic partners, and innovation networks across the region. Support extends beyond market exposure to include market-entry preparation, ecosystem engagement, business matching, partnership development, and long-term growth strategies.

Because true scale is not achieved simply by having great technology. It comes from understanding which problems to solve, identifying the right customers and partners, and converting opportunity into sustainable growth.

From Singapore to the wider ASEAN market, NIA is helping Thai startups move beyond domestic boundaries, connect with regional innovation ecosystems, and transform Thailand’s technological strengths into businesses capable of scaling on the global stage.

Built to Deliver: 5 Thai Startups Scaling New Heights in Malaysia

Built to Deliver: 5 Thai Startups Scaling

New Heights in Malaysia

Malaysia may not be the largest market in ASEAN, but it is quickly emerging as one of the region’s most compelling destinations for Thai startups seeking to expand beyond their home market. This is particularly true for businesses working in Deep Tech, AI, Energy, Climate Tech, HealthTech, and ESG—fields with the potential to address the needs of major industries and enterprises directly.

According to the Global Startup Ecosystem Index 2026 by StartupBlink, Malaysia ranks 41st globally for its startup ecosystem, climbing three places from the previous year. It remains the second-ranked ecosystem in Southeast Asia. Kuala Lumpur ranks 71st globally and third in the region, while George Town, Penang, ranks 361st worldwide.

Meanwhile, the Global Innovation Index 2025 by the World Intellectual Property Organization (WIPO) places Malaysia 34th out of 139 economies worldwide, and second among upper-middle-income economies. These rankings reflect the country’s strength not only as a market, but also as a base for technology development and the commercial application of knowledge and innovation.

For Thai startups, these figures suggest that Malaysia is more than simply a “new market.” It is a strategic environment in which to validate technology, build partnerships, access large enterprises, and expand into other ASEAN markets.

This is the context behind the journey undertaken through the Scale Up to Global 2026: Gateway to ASEAN programme, led by the National Innovation Agency (Public Organization), or NIA. The programme brings five high-potential Thai startups into the Malaysian market to connect with enterprises, investors, and business partners, while exploring opportunities to deploy and test their technologies in real-world settings.

A Market Looking for More Than Technology

The challenge of expanding into Malaysia is not simply demonstrating how advanced a startup’s technology may be. The greater task is to show customers and partners what problem the technology solves and how it can deliver tangible business results.

In the B2B market, decisions to adopt new technology often involve multiple stakeholders—from senior management and operations to IT, procurement, finance, and sustainability teams. A product demonstration alone may therefore not be enough. Enterprises want evidence that a solution can be integrated with existing systems, operates at an appropriate cost, and produces measurable outcomes.

This is why a pilot project has become one of the most important tools for startups entering a new market. It allows an organization to test a technology within a controlled scope before committing to broader commercial deployment.

For Thai startups, entering Malaysia should therefore involve more than preparing a product pitch. They must also prepare a pilot proposal that clearly answers several fundamental questions: What is the problem? What resources are required? How long will the pilot take? What results are expected? And if the pilot succeeds, how can it be scaled?

Five Thai Startups, Five Opportunities Shaped by Real Business Needs

The Malaysian market entry of these five Thai startups demonstrates that opportunities in Deep Tech are not limited to any single industry. They can address some of the most pressing challenges facing organizations today—from decarbonization and healthcare to energy management, ESG, and building efficiency.

Nicha Carbon Capture: Decarbonization in Practice

Industries are under growing pressure to reduce greenhouse-gas emissions. Yet decarbonizing heavy industry remains challenging, constrained by cost, technology, and the realities of existing production processes.

Nicha Carbon Capture brings carbon-capture technology to this challenge. Its greatest opportunity lies not only in presenting the technology, but also in identifying suitable environments in which it can be tested and its ability to deliver measurable emissions reductions can be demonstrated.

Perceptra: Using AI to Strengthen Healthcare

Healthcare systems are facing rising patient numbers, growing demand for screening, and limitations in medical personnel. Perceptra applies AI to screening and preventive health-risk assessment, helping improve operational efficiency and extend the capacity of healthcare systems.

The key to entering the market is building confidence—confidence in the solution’s accuracy, safety, compatibility with existing systems, and compliance with healthcare-sector requirements.

Energy Response: Smarter Operations

For organizations operating large buildings or industrial facilities, energy consumption and engineering-system management are significant costs that can directly affect operational performance.

Energy Response uses AI and automation to monitor, analyze, and manage energy systems. Its goal is to help organizations move beyond a reactive approach towards more predictive, responsive, and efficient operations.

GEPP Sa-Ard: Turning ESG Data into Business Value

As organizations collect ESG and sustainability data from multiple departments and locations, the challenge is no longer simply to complete the required reports. The data must also be accurate, verifiable, and useful for decision-making.

GEPP Sa-Ard addresses this need with a platform for ESG and circular-economy data management. The platform connects information on waste management and recycling with broader business processes, helping organizations turn sustainability data into a source of operational insight and value.

TIE Smart Solutions: Energy Efficiency at Scale

Buildings and factories are critical areas for reducing energy consumption, particularly through improvements to HVAC systems, which often account for a substantial share of total energy use.

TIE Smart Solutions applies AI to improve HVAC performance, helping reduce energy consumption and enhance building management. Its central challenge is to demonstrate energy savings that can be measured, verified, and translated into clear business value.

Together, these five companies share one important shift: moving from “technology-led” to “problem-led” thinking. Instead of beginning with the technology they have developed, they begin with the customer’s challenge and design a form of collaboration that can be implemented in practice.

From Startup Ecosystem to Business Opportunity

One of the most important lessons for Thai startups entering Malaysia is that the country should not be viewed as a single, uniform market.

StartupBlink’s 2026 data shows that Malaysia’s startup ecosystem has grown by 18.9%, with Kuala Lumpur remaining the country’s primary hub. Other cities, however, offer distinct strengths and opportunities.

For startups working in AI, enterprise technology, and corporate solutions, Kuala Lumpur may be the most suitable starting point for accessing large enterprises, investors, and business networks.

Penang, meanwhile, is particularly attractive for businesses connected to manufacturing, electronics, and industrial technology, supported by its strong industrial base. Johor offers opportunities in logistics, supply chains, and cross-border solutions, strengthened by its close connection to Singapore.

Selecting the right market-entry point is therefore just as important as selecting the country itself. A strong local partner with a deep understanding of the industry, customers, and decision-making processes can significantly reduce the time, cost, and risk of entering the market.

Built to Deliver: Turning Business Matching into Business Problem-Solving

The concept of “Built to Deliver” served as the central theme of the roundtable session, “How Thai Innovation Is Solving Malaysia’s Energy, Health, and ESG Challenges.”

The discussion was not designed as a stage for startups to simply promote their products. Instead, it followed a practical progression:

Problem → Current Solution → Opportunity → Pilot → Long-Term Solution

For Nicha Carbon Capture, the key questions were: What obstacles are organizations facing in their decarbonization efforts? And what would give them the confidence to test a new technology?

For Perceptra, the discussion focused on the limitations of existing healthcare systems and what organizations need to see before adopting AI-assisted screening and diagnostic solutions.

For Energy Response and TIE Smart Solutions, the conversation centered on where energy inefficiencies occur and how organizations can measure the savings generated by new technologies.

Meanwhile, GEPP Sa-Ard invited organizations to consider whether ESG data, traditionally collected for compliance purposes, could become a tool for reducing costs, improving efficiency, and supporting better business decisions.

This approach transforms business matching from simply “getting to know one another” into “identifying problems that can be solved together.”

From Pilot to Commercialization

One of the most important lessons from entering the Malaysian market is that a pilot should not be viewed as the finish line. It should be the beginning of a commercial relationship.

A well-designed pilot should address, from the outset, what happens if the project succeeds. The next step could involve expanding the deployment area, increasing the number of users, signing a commercial agreement, or developing a long-term joint initiative.

The pathway to business expansion should therefore be:

Connection → Conversation → Pilot → Commercialization → Regional Expansion

A market-entry mission should not be measured solely by the number of meetings held. More meaningful questions are whether those meetings can lead to a pilot, partnership, investment, or commercial deal.

Malaysia: More Than a Destination Market—A Testbed for Scale

The journey of Nicha Carbon Capture, Perceptra, Energy Response, GEPP Sa-Ard, and TIE Smart Solutions demonstrates that the opportunity for Thai innovation in ASEAN lies not simply in taking products abroad, but in connecting technology with the real challenges faced by businesses.

From decarbonization and healthcare efficiency to energy management, ESG data, and building energy efficiency, all five solutions share a common challenge: proving that technology can generate measurable business results.

Once those results have been demonstrated, a single pilot can become a commercial deal with one customer, then evolve into a broader partnership and eventually open the door to other markets across the region.

For Thai startups, Malaysia may therefore be more than a market in which to begin selling products. It can be a proving ground—a place to demonstrate that Thai technology is truly “Built to Deliver” in the ASEAN market.

The National Innovation Agency (Public Organization), or NIA, continues to support the growth potential of Thai startups through the Scale Up to Global 2026: Gateway to ASEAN programme. By connecting Thai entrepreneurs with business opportunities, investor networks, and regional partners, the programme aims to transform the potential of Thai innovation into businesses capable of achieving sustainable growth in global markets.

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Monthly Archives: August 2026