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Thailand’s entrepreneurship landscape is experiencing a significant transformation, with a growing emphasis on entrepreneurship education in universities across the country.
In recent years, Thailand has seen a surge in entrepreneurial initiatives, with approximately 40% of Thai adults involved in some form of entrepreneurship. This trend is reflected in the increasing number of universities offering specialized programs and courses.
The Asian Institute of Technology (AIT), a renowned international institution, has been at the forefront of entrepreneurship education through its Entrepreneurship Center (AIT EC). To gain deeper insights into AIT EC's contributions to this growing ecosystem and its entrepreneurial activities, we met with Dieter Trau, the founding director of AIT EC.
Trau is not only a faculty member at the engineering school but also a serial entrepreneur. With his unique background, he joined AIT as Dean of the School of Engineering and Technology and founding Director of AIT EC in mid of 2019. Under his leadership, EC has become known for providing inclusive activities and events for participants both on campus and from outside.
This interview explores the center's approach to entrepreneurship events, the startups they are fostering and its vision for expanding their impact.
“How does a global university’s entrepreneurship center operate? Why does AIT EC open up their events to the partner universities? What’s the philosophy behind openness? Which startups is AIT EC fostering? How does AIT EC work as a whole entrepreneurship ecosystem itself?”
AIT EC was founded in September 2019 as an inclusive center for everyone at AIT, including students, staff, faculty, alumni, and the wider community, which we refer to ourselves as the ‘AIT family’. Our outreach extends beyond the campus, welcoming students from neighboring universities, such as from our neighbor Thammasat University.
We are a small team of only 4 members and 2 mentors, and I also take on a faculty role at AIT’s School of Engineering and Technology. Despite our size and the situation, we are dedicated to running the AIT EC and actively inviting people to our events from both within and outside our campus, in person and several events are also in hybrid mode.
I have been in Asia for a while since I obtained a Ph.D from the Hong Kong University of Science and Technology. My field is biomedical engineering, bioanalytics, bio sensors, and medical devices. Before I came to AIT, I worked at the National University of Singapore (NUS) for 16 years in the Department of Biomedical Engineering.
I’m a serial entrepreneur as well. I founded the deep-tech companies AYOXXA, a proteomics company, Tip Biosystems, a spectrometer tools company, and E3A Healthcare with my PhD student Shihao Li. Also, I’m involved in another deep-tech startup AVECRIS, a Singapore based emerging biotech company focused on programmable genetic medicine for vaccination and cancer treatment using its SPRING DNA platform.
Currently, it’s operating a research outpost at AIT to develop large scale manufacturing solutions too. A totally different startup is JDM Property Development in Cambodia, a sustainable farm and agriculture service company that currently develops its own resort, using AIT’s Habitech Building Technology.
With these experiences and background, I joined AIT in Thailand to build AIT EC becoming its founding director. Although AIT already had some entrepreneurial activities in its various departments, there was no central hub for these initiatives. Looking beyond our campus, we're surrounded by neighboring universities and the National Science and Technology Development Agency (NSTDA), an organization of the Royal Thai Government to which we have excellent contacts and joint student supervision and research.
*Note: The Asian Institute of Technology (AIT) manages a number of Doctoral and Master's level non-bonding scholarships provided by the Royal Thai Government (RTG)
Thus, AIT is not an isolated institution; we're part of a network of universities, institutes, and research facilities in Rangsit, Thailand. Recognizing this, we decided to establish AIT EC as an open and collaborative center.
We organize various events, bringing in experienced startup founders and domain experts to share their knowledge and inspire our students through talks and workshops.
We have created a 'Green Startup Toolkit' in collaboration with the United Nations Environment Programme (UNEP). This toolkit is designed to help startups and existing companies to grow sustainably. It is used in our events to educate students but is also available as a free PDF for anyone to access. The toolkit serves as a valuable resource for entrepreneurs looking to implement sustainable practices in their startups.
To motivate student participation in our activities, we offer grants and prizes. These grants serve as investments for students to advance their ideas. Prize offerings vary, but for our upcoming event, we have an exciting opportunity: sending students to Paris to represent Thailand in the SDG Olympics next month. We're eager to identify promising entrepreneurs to award this prize
*Note: At the time of the release of this article, two AIT students competed at the SDG Olympics in Paris with support of the University of Geneva and AIT EC.
By being open and free to all, we can reach more people and create a greater impact. This aligns with AIT's motto: ‘Social Impact through Innovation’. The AIT EC supports and encourages students and startups to build their businesses sustainably. We also strive for inclusivity to ensure equal accessibility without barriers.
Yes. I will introduce two startups as an example.
Actually, the startups at AIT EC are mostly in early stages. We are trying to support them with mentorship. Our mentors are from our faculties and our alumni. AIT EC matches students and startup teams to those mentors.
The number of participants varies; it can be as low as a few and as high as 500 due to our online hybrid format.
There are two factors we should consider when it comes to the number of participants. AIT offers only Master's and Ph.D. degrees, without undergraduate programs. Unlike most universities with entrepreneurship centers, we lack undergraduate participation. We recognize that not all graduate students are interested in entrepreneurship, as many are working professionals seeking to advance their careers.
Furthermore, AIT is smaller than our partner universities and has a diverse student body. About 70% of our students are international, representing over 40 nationalities on our campus, with applications from 80+ countries in the last intake. Some students may be online or part-time, which impacts event attendance.
Despite these challenges in attracting participants, we are successfully engaging our own students and students from neighboring universities.
AIT has Memoranda of Understanding (MOUs) with about 60 universities globally, in the US, Japan, Germany, France, Finland, and Australia. While these partnerships primarily support dual degree programs, they are not directly related to the AIT EC. AIT is unique in that it is a truly international institution with most of its Faculty and Students are coming from outside of Thailand and the entire Institute operates in English.
Substantial resources come from donations, primarily from our alumni. Many of these alumni, who started their careers 20 years ago and are now entrepreneurs, appreciate our work and provide funding.
We also receive funding from our projects with the UN, which has a budget for such activities. Additionally, we develop our own research projects that generate funding. For larger events, we source funding ourselves by collaborating with other organizations and big companies.
I believe there are both immediate and long-term impacts. For AIT EC, providing entrepreneurial education can create future impacts. Our students, mostly from other countries, might start businesses back home. They can establish environmentally friendly startups and create jobs, making an impact there.
Additionally, the advancement of deep technologies can have long-term effects. These technologies can dramatically reduce costs, making services accessible to a broader range of users. Therefore, I believe measuring impact should consider diverse aspects.
Our short-term goal is to engage more students, not only from our campus but also from neighboring institutions like Thammasat University. We aim to provide knowledge and an environment that encourages entrepreneurship through activities such as hackathons.
Our long-term goal is for students who learn from us to build businesses in their home countries, especially by applying our Green Startup Toolkit and what they learned in the ‘Minor in Entrepreneurship”, a Certificate course supported by AIT EC. We hope they can establish sustainable operations and make a positive impact.
I believe the entrepreneurial ecosystem is evolving. Having lived in Asia for a while, I've witnessed remarkable growth in Singapore and now followed by Thailand. Both countries recognize the importance of building an entrepreneurial ecosystem for their overall economy.
Additionally, they have realized that entrepreneurship can be a viable career path for students. In the past, graduates typically sought jobs or pursued further studies. Now, students can start their own businesses, reflecting a shift in the perception of entrepreneurship as a valued career option. They become job providers, not job seekers!
AIT offers programs to help students consider entrepreneurship as a career option. While foreigners face challenges starting businesses in Thailand due to regulations requiring 50+% Thai ownership, AIT can assist. As an official Thailand Board of Investment(BOI) approved Science and Technology Park, AIT can now host technology companies that can be fully owned by foreigners but approved as Thai companies.
This creates a value chain: Students develop ideas and technologies at school, then some students and faculty can develop startups around these ideas with funding. As these startups grow on campus, they can incorporate as BOI companies within AIT. This process allows for a seamless transition from idea generation to company formation and value creation.
Every country has certain limitations for foreigners to start and do business; we are fortunate that the Royal Thai Government has created the BOI pathway for foreign investment and entrepreneurs.
Thailand has a large population of 71 million people, while Singapore, despite its growth, has a much smaller population. This gives Thailand a larger market and a greater pool of talent. Additionally, the cost of doing business in Thailand is relatively low, providing a significant advantage.
It's challenging for our international students to start businesses in Thailand because the entire system, laws, and business documents are in Thai. This slows down business processes and can't be changed in the short-term.
However, this isn't unique to Thailand; many countries, including Singapore, require some level of local ownership to access government funding. Positively, the Thai government has introduced initiatives like BOI, which provides English documentation, to remove barriers and start to change.
One tip that I would love to give is not to be afraid of trying but if it doesn’t work, fail fast and modify and try again. Evolve quickly. Don’t build something super complicated but something with core value: Use the Minimum Viable Product(MVP) strategy to get the verification from friends and people you know. Then start an active iteration cycle (building the product → evaluating → making a decision). We teach it with the Green Startup Toolkit as well.
As I mentioned earlier, Thailand has a large population and Thai people like to find and try new things. Additionally, a lot of people are using social media heavily which means there are many potential channels. I think Thailand can be a good test market as well for startups which want to go globally.
Written by May Jang
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