From 2020 Annual general meeting, InnoSpace (Thailand) announced the operating activities and performances. In 2020, InnoSpace (Thailand) has succeed in second round fund raising from 2 new investors, Stock Exchange of Thailand (SET) and Government Saving Bank (GSB). Given that, InnoSpace (Thailand) secured investment more than $20mn from 14 strategic investors. InnoSpace (Thailand) also strategized ourselves to be the first Sharing CVC in Thailand to motivate the co-investment from our investors in potential startups.
Mr. Tevin, Chairman of InnnoSpace (Thailand), stated about the 2020 performance that we all faced the tough situation in 2020 both startups and other businesses, we set up “Inno Bridge fund” with the intention to help potential startups in the pandemic with investment of $1.5mn and our Investment committee approved to invest in 15 companies as our first investment activity since inception. With the collaboration from SEC and SME, Inno Bridge fund decided to exercise new investment tools from SEC, Convertible debentures that suitable for investment action to boost liquidity in startup.
For the international collaboration, Mr. Tevin added that InnoSpace (Thailand) attended several international events last year to promote Thailand startup ecosystem with intention to find a corporative activity with our international partners such as HongKong Cyberport, Leave a Nest, and other Enterprises. Domestically, we also have a great collaboration with Ture Digital Park, PMU-C, NSTDA, NIA, and TAT to groom an early-stage startup together with the government agencies. As a result, earlier in 2021 we were proudly selected by the startup in Thailand for Best Startup Synergy Award from TechSauce to be one of the firms that startups want to work with.
In 2021, despite we are still in the pandemic situation and economic slowdown, InnoSpace (Thailand) still have a plan to set up new fund. Not only the growth stage startup to fulfill the digital economy as new economics engine, but also a new fund that will focus more on Deep-tech startups closing the gap between R&D and funding to cultivate them to be a new S-Curve for Thailand. Besides the investment from us, there will be the supporting activities such as workshop and cross-industrial hackathon this year for regional expansion. Mr. Tevin summarized