Thailand Institute of Scientific and Technological Research (TISTR) has chosen Quality Plus Company and 23 other network partners to join for launching Thai Cosmetopiea Project, to drive country economy, by creating cosmetic values based on local characteristics, creating new business and returning profits to society.
Thailand Institute of Scientific and Technological Research (TISTR) has selected Quality Plus Aesthetic International Company Limited and 23 member parties to represent both the public and private organizations, to pilot 10 project regarding to Innovative Identity Cosmetic in Thailand. It is unique and different projects, with the usage of bio-based resources from 10 provinces across all regions of Thailand. The use of science, technology, and innovation with the aim to sustainably return profits to society under the Thai Social Economy Drive Program, by creating cosmetic values based on local identity or "Thai Cosmetopiea".
The Concept of Thai Cosmetopoeia
The project is under the policy of the projects plan for cooperation between the Ministry of Higher Education, Science, Research and Innovation, and the private sector to drive the Bio Base economy with science, technology and innovation. Emphasizes, that researchers use science, technology, and innovation in develop the ability to be utilized commercially. Which aims to create a sustainable business for the private and public sectors, by creating comparative advantage and differentiate Thai identity, combining with local wisdom that adds value, with emphasis on strengthening from the inside out.
The cosmetic market situation in Thailand and the implementation of the Thai Cosmetopoeia project
At present, Thai cosmetic market is the largest market in ASEAN and is ranked No. 3 in Asia, after Japan and Korea. It is also an important force in driving local economy of the cosmetic industry.
According to data from Euromonitor for 2019, it was predicted that in the year 2019 the cosmetic market in Thailand will grow as much as 2.7 billion baht, compare to 2017 at a value of 200 billion baht. Thailand is considered as an important hub of cosmetics production in ASEAN, with guaranteed factors which are credibility, complete production processes from upstream to downstream, and unique natural ingredients, causing the continuously increasing popularity of cosmetic products produced in Thailand.
Therefore, according to operational strategy of Thailand Institute of Scientific and Technological Research, in researching and developing cosmetics in 2020, the project will be named as "The Development of Cosmetics Innovation from Biological Resources of Thai Regional Identity", under the concept of "Miracle Beauty Pruksa Thararat", by selecting unique plants from various provinces of Thailand, from the north, central and south regions as main plants and import into the research and development process as a new product with commercial potential.
Scope of cooperation of Quality Plus, TISTR and 23 member parties
Quality Plus Company and 23 other parties as representatives to participate in research and development related to species cultivation, processing, extraction, testing, biological and pharmacological activity of targeted plants, for its utilization in the development of cosmetic and cosmeceutical products. Including performance testing and safety evaluation of the mentioned products, and joint support and push for the utilization of research results or products from the research into commercial use, within the project duration of 5 years.
The summary of Thai Cosmetopoeia project
Thai Cosmetopoeia is the project to drive the Thai society's economy by creating cosmetic values based on local identity, with the idea of using the identity of the biological base in Thailand, to develop with science, technology and innovation through cosmetic presentation. To help drive the local economy and promote national and international identity. To drive Thailand's economy in the cosmetic industry, linking to the tourism industry and creating sustainable resource conservation and local wisdom.
By implementing the project, TISTR cooperates with 24 pilot network partners in Provincial areas, Local business sector, Large business sector, Research and development department, Production sites of GMP standards, Financial sector, Marketing and Media sectors.
The partners of 24 pilot networks join forces with TISTR are:
Thai Cosmetopoeia is the project to drive the Thai society's economy by creating cosmetic value based on local identity, consistent with the national strategy and government policies in support, promotion and strengthening of Research and development of cosmetic products, and other type of products from Thai natural resources. To promote the country's economic development, enhance the quality of life of the community and create sustainability for local resources.
For entrepreneurs or those who are interested in researching medicinal plant extracts, and want to do research or use extracts from research, to create value and standards for products and your business, Quality Plus Company is happy to give a consultation and participate in the research.