Kuala Lumpur, September 9 - On 26 July 2024, Haroct Technologies has made a significant advancement in its regional expansion by being selected for Digital Penang's Market Access Thailand programme. This opportunity represents a crucial step for Haroct as it aims to expand its presence within Southeast Asia's growing digital market. Thailand, with its vibrant economy and advanced digital infrastructure, offers a strategic platform for startups like Haroct to enter the region’s expanding digital sector. The programme sets Haroct up to leverage Thailand’s economic growth and technological advancements, positioning the company for potential success in a rapidly evolving digital landscape.

The Market Access Thailand programme includes strategic partnerships with Thai ecosystem leaders such as Techsauce and Tru Digital Park, providing Haroct with vital mentorship and local insights. This support is essential for navigating Thailand’s regulatory environment and overcoming business challenges. By receiving local expertise and guidance, Haroct can achieve a smoother market entry, enhancing its visibility and growth potential within Thailand. This involvement not only boosts Haroct’s brand but also strengthens its prospects for broader expansion across the ASEAN region.

State infrastructure, transport, and digital committee chairman Zairil Khir Johari underscored the importance of market expansion for Penang-based startups. Thailand’s role as a gateway to ASEAN’s broader digital economy makes it a prime location for growth. With over 90% of households connected to the internet and a robust e-commerce sector, Thailand offers fertile ground for Haroct to innovate and scale its digital solutions. This strategic positioning aligns with Haroct’s goals to leverage Thailand’s digital landscape for substantial growth in areas such as digital automation, AI, and cloud technologies.

This initiative is part of Penang’s broader strategy to boost its digital economy, following the success of last year’s Market Access Indonesia programme. The previous programme led to notable achievements for participating startups, including substantial investments and entry into international accelerator programmes. For Haroct, the Market Access Thailand programme represents a similar chance to grow its regional presence, explore new markets, and secure investments that could significantly enhance its business trajectory. This opportunity is expected to drive Haroct’s growth and innovation in the ASEAN region.

As Digital Penang advances its efforts to build a thriving digital ecosystem, Haroct Technologies’ participation signifies a critical milestone for the company. By leveraging Thailand’s strong infrastructure and consumer base, Haroct is well-positioned to drive digital innovation and expand its footprint in Southeast Asia. The programme’s emphasis on strategic support and collaboration is likely to provide Haroct with the resources needed for significant growth. This involvement could establish Haroct as a major player in the Southeast Asian digital economy, capitalizing on the region’s growth opportunities.

Haroct Technologies is taking a decisive step in its regional expansion with its participation in the Market Access Thailand programme. As one of the five startups selected, Haroct is poised to benefit from Thailand’s growing digital economy, advanced infrastructure, and active e-commerce market. Collaborations with key players such as Techsauce and Tru Digital Park will offer essential mentorship and insights, aiding Haroct in navigating Thailand’s market and regulatory environment. This programme is expected to strengthen Haroct’s position in the ASEAN market, driving substantial growth and fostering innovation in its digital solutions.

Sources:

1. Bernama.  (2024, July 26). Haroct Technologies selected for Digital Penang's Market Access Thailand programme. https://www.bernama.com/en/news.php?id=2322146
2. The Edge. (2024, July 26). Haroct Technologies to expand in Thailand. https://theedgemalaysia.com/node/720618
3. Oriental Daily. (2024, July 26). Haroct Technologies joins Market Access Thailand programme.
4. China Press. (2024, July 26). Haroct Technologies expands into Thai market.