What is IDE?
IDE = Innovation-Driven Entrepreneurship, and it is very different from the entrepreneurship and start-ups which are normally found in Thailand and Southeast Asia.
Most people are familiar with SMEs. A founder sees an opportunity in a local market and gets together enough money and other resources to start up the business. If the business is successful, the founder will reinvest the profits, add employees, and the company will grow bigger gaining a bigger share of the local market it is serving. As long as things go well, this business will continue to grow more or less in a linear fashion at the rate that the founder is comfortable to add staff and reinvest earnings.
IDEs, or Innovation-Drive Entrepreneurs, approach an opportunity differently. They are looking to change the way an industry runs or the way people do things, by launching an innovation that has the potential to impact an entire region or even world-wide. And they know that, because they are able to Think Big, they can attract outside investors who will support rapid growth goals in order to reach regional and global markets. They attract talent and build strong teams of people with a range of capabilities to meet these big challenges.
Strong economic regions require both SMEs and IDEs. However, in Thailand most of the focus has been in developing SMEs. It is time to build an ecosystem for developing IDEs.
And that is exactly what we are doing at the UTCC IDE Center.