Food Innopolis was established to improve Thailand’s food business sector by strengthening the value chain from start-ups and SMEs to major corporations, producing value-added results, and constructing a world-class innovation ecosystem that meets global demands. Almost 40 firms have already established laboratories at Food Innopolis, with roughly 30% of them being significant multinational corporations. CP, SCG, Malee, Thai Oil, Thai Otsuka, Ou-waa soft, Lion, Taisei Kogyo, and Mitr Phol are among the firms represented.
Tenants at Food Innopolis will enjoy government benefits such as a tax exemption on import tariffs on machinery and equipment used in R&D, as well as a corporate income tax (CIT) exemption for up to 13 years, with an extra 50% discount for five years. Foreign professionals and researchers will also be helped with work permits and visas, including the Smart VISA. Revenue Department incentives will comprise accelerated depreciation allowances for R&D apparatus as well as a 300 percent CIT deduction for technology and innovation research and development costs. Investors can also get help from government entities including the Thailand Research Fund (TRF), the Agricultural Research Development Agency (ARDA), and the National Science and Technology Development Agency (NSTDA) and National Innovation Agency (NIA).