NIA Unveils Path for Thai Innovation as It Enters 16th Year Aiming to Propel Thailand Towards Becoming an Innovative Nation

BANGKOK, THAILAND –
Media Outreach Newswire – 16 September 2024 – The Ministry of Higher Education, Science, Research, and Innovation (MHESI) by the National Innovation Agency (Public Organization) or NIA held a seminar today to commemorate the 15th anniversary of the National Innovation Agency (Public Organization). The event featured expert speakers on innovation ecosystems from Thailand and abroad who exchanged knowledge, perspectives, and experiences on a wide range of topics. Key discussions included ways to strengthen the national innovation ecosystem, showcasing case studies from Lithuania and Sweden, strategies for building a robust startup ecosystem by promoting talent and future investment imagery, accelerating the growth of Thai innovative businesses, connecting innovation funding sources among NIA, the Federation of Thai Industries (FTI), and the Board of Investment (BOI), as well as expanding businesses into international markets. In addition, the NIA’s international advisory board discussed on promoting startup businesses through investment mechanisms and developing talented human resources, which will be used to develop and expand operations to fit the context of Thailand in the future.

Dr. Krithpaka Boonfueng, Executive Director of NIA, emphasized the agency’s significant role over the past 15 years in reinforcing the national innovation system by supporting Thai innovators in establishing and sustainably growing their businesses as well as building a new generation to create innovation leading to positive changes for society and the environment. NIA has evolved to face challenges while establishing its foundation for Thailand’s innovation development since its inception in 2007, when the concept of “innovation” began to transform the Thai economy from an industrial base to a value-added product and service development framework. In 2009, the NIA was established to be the main agency to promote and develop the country’s technological and innovation capabilities.

“Today, the context of innovation in Thailand is vastly different, presenting challenges and opportunities that NIA must navigate to enhance the country’s international competitiveness including NIA’s pivotal role in launching initiatives for startups since 2016 through Startup Thailand project, further enhancing innovative enterprise capabilities in Thailand and connecting them to global markets. The changes in the Thai innovation ecosystem have required NIA to develop and grow in parallel to meet the new challenges that have arisen, both in terms of support mechanisms and cooperation networks that have been initiated, developed, and expanded to create “innovations” that can create high impacts on the Thai economic and social system, whether they are innovations for the economy, social innovations, area-based innovations, or public sector innovations, as well as developing the potential of new-generation innovative entrepreneurs at both the individual and organizational levels. From such commitment, NIA has become an organization that is recognized as the country’s main agency in driving the Thai innovation system, as evidenced by its championship title of Thailand’s Most Admired Company, a “Public Organization” in the field of technology and innovation for 3 consecutive years since 2021. Over the past 15 years, NIA has supported over 3,133 innovative projects worth approximately 3,586 million baht, leading to an impressive investment value of around 50,350 million baht. The agency has also become a central hub for facilitating both Thai and international startups through consulting, investor networking, and access to government benefits.

Looking ahead, NIA aims to serve as the
“Focal Conductor” for innovation, collaborating with local and international partners to help innovative entrepreneurs leap to new heights. Plans include the implementation of the
“Groom” concept, focused on developing talent through 16 courses. There are 2 courses for developing youth interested in preparing to grow in creating innovative businesses and 14 courses for developing potential in innovation to drive the economy and society. In addition, there is the Startup League project, which has more than 70,000 youths participating from 48 universities, registered 80 companies, and has created a business value of more than 100 million baht.
“Grant” through 7 new funding mechanisms that focus on developing and expanding innovative businesses to markets covering both economic and social innovations and cooperation with external funding sources.
“Growth” is an acceleration of the growth of innovative businesses and startups in target industries through startup growth acceleration programs in 4 areas: food technology, agricultural technology, health technology, and climate change technologies. Strengthening the potential of regional innovative entrepreneurs through the Nilmangkorn 10X project, which aims to generate sales over 100 million baht within 3 years.
“Global” is to promote Thai innovative entrepreneurs to the international market through business expansion opportunities and fundraising with the services of the Global Startup Hub and programs to promote business expansion into foreign markets, including accelerating the push for the Startup Act to support a strong startup ecosystem. “We are committed to pushing Thailand toward becoming a recognized ‘Innovation Nation’ on the global stage, and we are grateful for the collaboration of innovation networks across all sectors in driving this mission forward,”
Dr. Krithpaka concluded.

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