Neo Corporate Public Company Limited, through its subsidiary Neo Factory Co., Ltd., has partnered with Chiang Mai University to research and develop innovative fast-moving consumer goods (FMCG) suitable for the unique needs of the Young Old (Yold) and Gen Beta (Baby) demographics. This collaboration aims to support Thai researchers by bringing their innovations 'from bookshelf to store', seeking international recognition while also providing university students with valuable real-world business experience. The partnership reinforces NEO as a "Segment Creator," committed to developing products that enhance everyday life.
Miss Nitchamon Thakolsri, Deputy Chief Executive Officer of Business Innovation at NEO Corporate Public Company Limited, said "Thailand and many other Asian countries are experiencing a growing aging population, leading to the emergence of new consumer groups. These include the 'Young Old' (Yold), retirees who have embraced technology and modern lifestyles, and 'Gen Beta,' referring to babies aged from 0-3 years old whose parents prioritize safe and high-quality products. As a 'Segment Creator,' NEO is committed to continuous research and development to meet the evolving needs of consumers of all ages."
"Chiang Mai University is the third university we've partnered with for academic collaboration, chosen for its impressive output of over 3,000 research projects annually. We're providing research funding, resources, and our FMCG industry expertise, which, combined with the university's specialized knowledge, will drive innovation in this high-growth market. This aligns with our 'from bookshelf to store' approach and fosters valuable collaborative research and development opportunities. We're also offering students practical experience through this cooperative education program, in line with NEO's commitment to development. This partnership is a significant step towards NEO's vision Asia's innovative FMCG company dedicated to enriching the lives of modern consumers," Miss Nitchamon added.
Assistant Professor Dr. , stated, "Chiang Mai University strives to be a "Leading University Committed to Social Responsibility for Sustainable Development through Innovation". This collaboration with Neo Factory is crucial for aligning our research and innovation with market needs. It will also broaden the perspectives of our faculty, researchers, and students by integrating academic knowledge with practical business applications, thereby enhancing their market competitiveness. Ultimately, this partnership cultivates a robust R&D ecosystem that yields tangible benefits."
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