NIA aims for 3,000 innovative companies by 2030

 

 

BANGKOK, 3 September 2019(NNT) - In the last few years, many new operators or startups have rapidly grown until now they are at the forefront of the business cycle. This is partly because they have been supported by the government in accordance with the 20-year national strategy. In order to accelerate the development of startups, the National Innovation Agency (NIA) has now determined the development of innovations in 10 areas, aiming to promote 3,000 innovative companies by 2030.

 

NIA Director Phanarj Chairat, said today that the NIA’s performance last year was considered satisfactory. The NIA supported 193 innovative business projects which generated an economic value of no less than two billion baht. For its 10-year operational strategy, the NIA will continue to focus on development in line with the Thailand 4.0 policy in order to promote Thailand as an innovative nation in 10 areas of development, such as the development of financial innovation; innovations to help society steer the economy while also reducing inequality; spatial innovation and creating new entrepreneurs and leaders in innovation. The NIA aims to increase the number of innovative companies to 3,000. Thailand was ranked 44th in the 2018 Global Innovation Index and the NIA aims to see Thailand at 27th by 2030.

 

However, he admitted that the barrier to national development is not investment but inappropriate innovative startup development. Therefore, the NIA has to adjust its working guidelines by not only providing financial assistance but also focusing on strengthening the national innovation system. The NIA must serve as a "system integrator" or an intermediary connecting all four groups including the government and private sectors, the education sector and civil society.

 

-- © Copyright NNT 2019-09-03

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