NIA sets a goal for Thailand to rank top 30 by 2030

The National Innovation Agency (NIA) has set a goal for Thailand to rank in the top 30 of the Global Innovation Index by 2030 through the branding “Innovation Nation” along with a creation of 3,000 international innovation-based firms.

NIA outlined its vision for 2020-30 while celebrating its 10-year anniversary as a public organisation.

Pun-Arj Chairatana, NIA executive director said NIA sets a goal for Thailand to rank in the top 30 of the Global Innovation Index by 2030, moving up from 44th this year.

The NIA’s goal is to draw at least 3,000 international innovation-based firms of all sizes to work together, and make Thailand a landing and launching pad for overseas companies.

A Business Development Department report found that Thailand has 3 million registered firms, but a number of those who have innovation to go for overseas market is very small. “We hope to have 0.1% or 3,000 of them to be international innovation-based companies,” said Mr. Pun-Arj.

To achieve the goal, it needs to do the “Innovation Nation” branding, the nation with innovation cities and ecosystem supporting innovation in both of investment and living along with supporting regulations and business matching.

NIA will sign memorandum of understanding with the Foreign Ministry on innovation diplomacy for overseas market expansion which so far the collaboration has been done with Japan and Israel.

The agency will more focus on decentralization innovation in the regional areas, cities and communities which are area-based innovation and also do the prediction through the Foresight Innovation Institute.

NIA will focus on the innovation ecosystem and innovation fund with 80 and 20% respectively, instead of its previous model that 80% are the funding for activities.

In the past year, NIA has supported fund to some 193 projects, 17 of them are innovation centric projects with combined supporting fund of 46.5 million baht and generated some 257.4 million baht of investment value. 176 projects are open innovation, with combined supporting fund of 180.9 million baht and created 2.253 billion baht of investment value.

39 projects are the innovations for social enterprise which focus on promote the social and community sustainability through knowledge-based, network and funding. There are some 15 network communities and created the social impact with 208.56 million baht.