The National Innovation Agency (NIA) has announced a new strategy called “Groom – Grant – Growth – Global” to transform Thailand into an innovation-driven nation. This strategy aims to boost the country’s innovation ecosystem by providing financial support, developing innovation entrepreneurs, and enhancing access to innovation infrastructure. The goal is to help Thai entrepreneurs grow and expand their businesses both domestically and internationally.
Dr. Krithpaka Boonfueng, Executive Director of NIA, explained that the agency will work closely with partners to support innovation-based entrepreneurs (IBEs) in various sectors. The strategy has five main objectives: creating and linking development platforms for IBEs, nurturing innovators through the NIA Academy, strengthening the Thai innovation system, improving Thailand’s ranking in the global innovation index, and enhancing NIA’s role in driving the economy and society. The focus will be on five key industries: agriculture and high-value herbs, health and medicine, energy and electric vehicles, tourism, and soft power.
In the past year, NIA has developed innovation capabilities through the NIA Academy, partnered with organizations like Siam Commercial Bank and the Stock Exchange of Thailand, and promoted regional innovators. The agency has also supported startups by providing consulting, investor networks, and smart visas. One startup, UniFAHS, received significant funding to expand its business.
NIA is also improving financial support mechanisms for innovation entrepreneurs, such as funding regional projects and co-investing with listed investors. The agency has funded 319 regional projects with a total of 566.88 million baht and co-invested 141.43 million baht, expecting a business value of over 1,750 million baht.
NIA has launched the Nilmungkorn 10X project to help high-quality innovation entrepreneurs enter the capital market. The agency has also developed startup acceleration programs in food, agriculture, health, and climate technology. NIA promotes Thai innovation entrepreneurs internationally by participating in exhibitions in countries like Germany and Japan. Additionally, the agency uses data to drive innovation through the “Thailand Innovation Portal” service platform, which has over 90,000 innovation data items and 3,600 users.
Looking ahead, NIA plans to expand the Groom – Grant – Growth strategy to include “Global,” focusing on exponential growth for innovation entrepreneurs. This will involve collaborating with partners to support innovation entrepreneurs, developing the Startup Act, promoting co-investment, and expanding into international markets. NIA aims to make Thailand a globally recognized innovation nation.
Dr. Sura-at Supachatturat, Deputy Executive Director of Innovation Development, emphasized the importance of funding for innovative businesses. NIA has developed new financial support mechanisms, such as market testing and product improvement funding, consultant support, product testing, and co-funding mechanisms.
Mr Pariwat Wongsamran, Deputy Executive Director of Innovation Systems, highlighted the need to strengthen regional innovation systems and develop Thailand’s target industries. NIA aims to promote Thai innovation entrepreneurs globally by creating opportunities for business expansion and fundraising.
Ms Supichaya Limtrakul, Deputy Executive Director of Organizational Strategy, stressed the importance of digital transformation. NIA focuses on creating digital services, developing digital competencies among staff, enhancing digital connectivity, ensuring data management and cybersecurity, and building a central innovation data platform.
