MHESI and SET Fund for Research-to-Business Transition

Prachachat•Economy•1d ago

Reader Briefing

The Ministry of Higher Education, Science, Research and Innovation and the Stock Exchange of Thailand are establishing a Private Equity Trust to fund university research for commercialization.

•A Private Equity Trust (PE Trust) with a target fund of approximately 1,000 million baht is being established.
•The fund aims to support Deep Tech startups, targeting 100 companies by the year 2032.
•The goal includes pushing 5 companies to list on the stock market and creating at least one unicorn valued at over 1,000 million USD.
•Initial investments in 2-3 companies are expected to begin by the end of this year.

Overview

•The Ministry of Higher Education, Science, Research and Innovation (MHESI) is collaborating with the Stock Exchange of Thailand (SET), CMDF, NIA, and the private sector to create a PE Trust.
•The PE Trust has a target fund of approximately 1,000 million baht, with CMDF contributing 300 million baht and NIA allocating 300 million baht via the Higher Education System Strengthening and Quality Enhancement Fund (SPSV).
•The project expects to start investing in the first 2-3 startups by the end of this year.
•The PE Trust targets New Economy businesses, specifically Deep Tech in sectors such as Health & Wellness, medical devices, Biotech, Service, and Energy.
•The project utilizes three mechanisms: the University Holding Consortium (UHC Consortium), Venture Builders, and links to the Stock Exchange of Thailand.
•Venture Builders are used to bridge the gap between research and business by assisting with team building, product development, and business modeling.
•The PE Trust will be managed by professional private sector fund managers to ensure decisions are based on commercial principles.
•By the year 2032, the UHC Consortium aims to produce 100 Deep Tech spin-off companies from universities and networks.

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Key Entities

Organization

Ministry of Higher Education, Science, Research and Innovation(กระทรวงการอุดมศึกษา วิทยาศาสตร์ วิจัยและนวัตกรรม)ℹ️

The government ministry leading the establishment of the fund to turn university research into business.

Stock Exchange of Thailand(ตลาดหลักทรัพย์แห่งประเทศไทย)ℹ️

A partner in the establishment of the PE Trust to support New Economy companies entering the capital market.

Capital Market Development Fund(กองทุนส่งเสริมการพัฒนาตลาดทุน)

An organization contributing 300 million baht to the PE Trust.

National Innovation Agency(สำนักงานนวัตกรรมแห่งชาติ (องค์การมหาชน))

An agency allocating 300 million baht to the PE Trust through the SPSV.

SPSV(สพสว.)ℹ️

The entity through which the National Innovation Agency allocates budget for the fund.

University Holding Consortium

A mechanism connecting university holding companies to share resources and knowledge.

Person

Yotsanan Wongsawat(ยศชนัน วงศ์สวัสดิ์)

Deputy Prime Minister and Minister of Higher Education, Science, Research and Innovation.

Kittipong Urapeepatanapong(กิตติพงษ์ อุรพีพัฒนพงศ์)

Chairman of the Stock Exchange of Thailand.