Taiwan-based startup businesses tapping the Southeast Asia market should offer one-stop solutions via integrating various innovations developed by different startups, according to Vincent Lu, vice managing director for Jumpway, a Thailand-based electronics manufacturer established by Taiwanese entrepreneurs over 30 years ago.
Taiwan-based startups entering Thailand, despite their innovative ideas, products and services, generally do not know how to market them, Lu said.
Since features of innovations vary among different startups, startups working individually may be able to win orders for their unique products and service, but they cannot provide turnkey or industry-based systematic solutions for any industry, Lu said.
Tourism is an important industry for Thailand, and as smart tourism involves close cooperation among hotels, department stores, airlines and other transportation service providers, innovative products and services that simultaneously meet respective needs have to be based on integrating different startups' innovations, Lu said.
Taiwan-based Sinotech Engineering Consultants has cooperated with a Thailand-based industrial real estate developer to develop Taipei Smart City, a smart city demonstration site, in Chonburi, eastern Thailand. Taipei Smart City, with an entrepreneurship zone to house incubators, will attract Taiwan-based startups and help them partner with Thailand-based Taiwanese makers for production of innovative products.
Jumpway vice managing director Vincent Lu