NIA unveils path for Thai innovation as it enters 16th year of operations to propel Thailand towards becoming an innovative nation

BANGKOK, THAILAND – Media Outreach Newswire – September 16, 2024 – The Ministry of Higher Education, Science, Research and Innovation (MHESI) through the National Innovation Agency (Public Organization) or NIA held a seminar today to celebrate the 15th anniversary of the National Innovation Agency (Public Organization). The event brought together experts from Thailand and abroad on innovation ecosystems to exchange knowledge, perspectives and experiences on a wide range of topics. Key discussions included ways to strengthen the country’s innovation ecosystem, presenting case studies from Lithuania and Sweden, strategies to build a solid startup ecosystem by promoting talent and future investments, accelerating the growth of Thai innovative enterprises, connecting sources of innovation funding between NIA, Federation of Thai Industries (FTI) and Board of Investment (BOI), and expanding enterprises to international markets. In addition, the NIA International Advisory Board discussed promoting new businesses through investment mechanisms and developing talented human resources that will be used to develop and expand the business to suit the Thai context in the future.

Dr. Krithpaka Boonfueng, Executive Director of NIA, highlighted the significant role of the agency over the past 15 years in strengthening the national innovation system by supporting Thai innovators to establish and sustainably grow their businesses, and in building the next generation to create innovations that lead to positive change for society and the environment. The NIA has evolved to address challenges while laying the foundation for the development of innovation in Thailand since its inception in 2007, when the concept of “innovation” began to transform the Thai economy from an industrial base to a framework for the development of value-added products and services. In 2009, the NIA was established as the main agency to promote and develop the country’s technological and innovation capabilities.
“The current innovation context in Thailand is very different, presenting challenges and opportunities that NIA must address to enhance the country’s international competitiveness, including NIA’s key role in launching startup initiatives since 2016 through the Startup Thailand project, further enhancing the innovation capabilities of Thai enterprises and connecting them to global markets. The changes in Thailand’s 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 collaborative networks that have been initiated, developed and expanded to create ‘innovations’ that can have a major impact on the Thai economic and social system, whether it is innovation for the economy, social innovation, area-based innovation or public sector innovation, as well as developing the potential of next-generation innovative entrepreneurs at both the individual and organizational levels. With this commitment, NIA has become an organization recognized as the country’s premier agency in driving the Thai innovation system, as evidenced by its championship title of Thailand’s Most Admired Company, “Public Organization” in technology and innovation for 3 consecutive years since 2021. Over the past 15 years, NIA has supported over 3,133 innovation projects worth approximately 3,586 million baht, leading to an impressive investment of approximately 50,350 million baht. The agency has also become a central hub facilitating both Thai and international startups through mentoring, investor connections, and access to government benefits.
Looking to the future, NIA intends to play a role “Focal Conductor” for innovation, working with local and international partners to help innovative entrepreneurs reach new heights. Plans include implementing “Groom” concept, focused on developing talents through 16 courses. There are 2 courses for developing youth interested in preparing for development in creating innovative companies and 14 courses for developing innovation potential to drive the economy and society. In addition, there is the Startup League project, in which more than 70,000 young people from 48 universities participate, 80 companies have been registered and business value of more than 100 million baht has been created. “Grant” through 7 new financing mechanisms that focus on the development and expansion of innovative enterprises into markets encompassing both economic and social innovations and on cooperation with external sources of financing. “Growth” is to accelerate the growth of innovative enterprises and startups in target industries through startup growth acceleration programs in 4 areas: food technology, agri-technology, medical technology and climate change technology. Strengthening the capacity of regional innovative entrepreneurs through the Nilmangkorn 10X project, which aims to generate sales exceeding 100 million baht in 3 years. “Global” is to promote Thai innovative entrepreneurs in the international market through business expansion opportunities and fundraising with the services of the Global Startup Hub and programs promoting business expansion to overseas markets, including accelerating the Startup Act to support a strong startup ecosystem. “We are committed to driving Thailand towards becoming a recognized “Innovation Nation” on the international stage and are grateful for the cooperation of the innovation network across sectors in achieving this mission” Dr. Krithpaka concluded.

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