The Thailand RISE Fund, under the Office of the Science Promotion and Innovation Commission (OSIC), is strategically driving Thailand towards an innovation-based economy by using science, research, and innovation as the "main mechanism" to sustainably elevate the creative economy founded on Thai cultural capital to compete globally.
On 24 Apr 2026 GMT+7, OSIC signed a memorandum of understanding (MOU) with C.A.I. Social Enterprise Company Limited (C asean) on cooperation in advancing science, research, and innovation at C asean’s office in the ThaiBev Quarter building, Bangkok, aiming to expand the Thailand RISE Fund’s role from supporting research to "transforming knowledge into economic value" through partnerships with internationally capable private sector entities.
This collaboration integrates knowledge, resources, and networks between public and private sectors to enhance community competitiveness and create added economic value, starting from grassroots economies towards sustainable development goals, with the Peranakan project in Thailand as the initial focus.
Professor Dr. Sompong Klaynongsruang, Director of OSIC, stated, "This signing is more than a policy partnership; it lays the foundation for the Thailand RISE Fund to be a tool driving the economy and society, especially at the grassroots level." He added, "Combining expertise with C asean will help 'elevate cultural capital into creative economic value' under the concept ‘Science, Research, and Innovation for All Thais.’"
Meanwhile, Ms. Tongjai Thanachanan, Managing Director of C.A.I. Social Enterprise Company Limited, said, "This cooperation marks a promising start and a positive sign that both organizations will work proactively together to advance society," emphasizing, "The key objective is to leverage cultural capital and wisdom into creative economic value."
This collaboration also involves another key partner, Strong, Self-Sufficient Communities (Thailand) Company Limited, in driving the work forward.
A key highlight is developing a project based on Peranakan cultural capital across 25 districts in 12 southern provinces, a cultural heritage stemming from overseas Chinese migration since around the 15th century, especially traders who settled in the Malay Peninsula and southern Thailand provinces. These overseas Chinese married local women, resulting in mixed-heritage descendants.
Locals call these descendants "Peranakan," meaning ‘born here.’ The Peranakan culture, blending Chinese, Malay, and local heritage, is evident across 25 districts in 12 southern provinces: Phuket, Phang Nga, Krabi, Trang, Ranong, Chumphon, Nakhon Si Thammarat, Songkhla, Satun, Pattani, Yala, and Narathiwat. Cultural heritage includes colonial-style Chinese architecture centuries old, the distinctive Kebaya attire with intricate meaning in jewelry rarely seen, and meticulously prepared Hokkien Chinese cuisine known as “Grandma’s flavors,” fused with exquisite local Malay Peninsula ingredients beloved by many. This research project aims to leverage Thai-Chinese-Malay cultural capital with innovation to create new products and business models meeting global economic demands, aligned with ESG principles to generate "Creating Shared Value" economically, socially, and environmentally, preserving and promoting Peranakan culture for Thailand’s future.
This cooperation is also a key mechanism to "upgrade Thailand’s entire economic structure" through innovation, enhancing cultural capital value, and developing future-oriented technologies, ultimately improving citizens' quality of life and strengthening community resilience sustainably.