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WHAID, China’s TUS set up joint venture to nurture over 80 startups

Sep 29. 2020
WHA Group executives pose with the contract
WHA Group executives pose with the contract
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By The Nation

WHA Industrial Development PLC (WHAID), one of Thailand’s leading developers of industrial estates, and Tus-Holdings Co Ltd (TUS), a top Chinese Science and Technology service group, recently signed an agreement establishing a joint-venture company, WHA TUS Co Ltd.

With registered capital of Bt30 million, WHAID holds 51 per cent and TUS 49 per cent of the new company’s shares, according to a press statement from WHAID.

WHA TUS operates the 1,408 sqm TusPark WHA Incubation Centre, which is strategically located within the compound of Chulalongkorn University along Rama IV Road. The centre offers more than 230 working desks to nurture over 80 startups.

Executives from WHA Group, right, and TUS Holdings sign a joint-venture agreement to develop the TusPark WHA Incubation Centre during an online signing ceremony.

In addition to a functional workplace and facilities, the centre provides tenants with incubation services which include entrepreneurship salons, venture tours, project optimising, online training, and more.

Soft-landing services will also be provided and include company registration, legal, financial and taxation advice and intellectual property services.

TusPark WHA’s facilities of more than 400 sqm can accommodate exhibitions, seminars, town hall services, product launching and business matching events.

According to the press statement, the incubation centre will create an innovative ecosystem in partnership with the Chinese government, universities and research institutes as well as Thailand’s top industrial developer to enable the development of Thai startups and to create a bridge for Thai entrepreneurs to access Chinese technology, talent, investors and a massive market of 1.4 billion people.

Bangkok’s TusPark will benefit from the rich and vast experience of China’s TusHoldings, established in 1994 with reliance on Tsinghua University, one of China’s top universities, as its biggest shareholder, the statement said.

Owning equity in more than 800 companies and representing a managed asset value of nearly US$30 billion (Bt948.75 billion), it is one of the largest incubation and innovation networks in China.

TusHoldings has set up more than 120 incubators and has incubated more than 5,000 startups in China.

“In the future, TusHoldings and WHA Group will further expand the scope of their cooperation, including exploring science park projects in Thailand,” the statement added.

Caption: Executives from WHA Group, right, and TUS Holdings sign a joint-venture agreement to develop the TusPark WHA Incubation Centre, during an online signing ceremony.

Caption: WHA Group executives pose with the contract.

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