![[Thai Economy] The National Innovation Agency (NIA) of Thailand is implementing a four-year expansion plan to realize Thailand’s Vision 2030](https://nvtproperty.com/wp-content/uploads/2026/10/featured_009.jpg)
The new director-general of the National Innovation Agency (NIA) outlined his goal of serving as a “connector” by linking all public and private partners, with the aim of generating an economic impact of 2 billion baht and fostering 10,000 new innovative enterprises within four years.
Krithpaka Boonfueng, the third Executive Director of the NIA, said while outlining the vision for 2030 that this initiative will transform Thailand into an innovative nation and propel the country into the top 30 of the World Intellectual Property Organization’s Global Innovation Index by 2024.
Krithpaka stated, “The NIA will transform our role into that of a key player in driving innovation, working with all partners to help innovative companies make an impact on the economy and society.”
The organization has evolved from its original two executive directors, who laid the foundation and expanded the Innovation Alliance. Now serving as a coordinating body, the organization will establish seamless and deeper integration with all stakeholders to drive and guide innovation at the national level.
Guided by the philosophy of “Creating Connections, Building Bridges, and Generating Value,” the NIA will promote open innovation by listening to new ideas from startups and small and medium-sized enterprises (SMEs), utilizing the “Cultivation, Granting, and Growth” mechanism and the “2 Reductions, 3 Increases” approach to address social and economic challenges.
It will also focus on removing barriers to access, enabling all sectors to leverage innovation, while revising regulations that may hinder growth and increasing opportunities for both the public and private sectors to access funding sources. These measures will provide opportunities to expand and create innovative Thai brands that are ready to compete with innovations from abroad.
Ms. Krithpaka expressed concern over the delay in forming the new government but believes that innovation remains a key priority for the government, as promised in the campaign platforms of all major political parties. The NIA will receive a budget of 200 million baht for Fiscal Year 1, of which 202.4 billion baht will be allocated to its grants and funding programs. In addition, Ms. Krithpaka urged government procurement agencies to make greater use of local innovative companies, including startups.
The first is to create and scale up innovative entrepreneurs (IBEs) in five target industries within its network. The five target sectors are food tech and agritech, travel tech, medtech, climate tech, and soft power. She added that the NIA’s goal is to build on existing IBEs to establish new companies with more employees and generate 2 billion baht in economic impact across these five target sectors within four years.
The second strategy is to promote open innovation, making Thailand’s innovation system more open, providing broad-based funding, and linking it with other funding sources. The four-year goal is to manage 200 million baht in funds and provide financial support to 1,500 projects.
Third, through close collaboration with regional science parks, promote access to and utilization of infrastructure by universities and science parks.
Fourth, create an ecosystem that promotes innovative applications, propose policy recommendations, and advance legislation to support innovative enterprises, including the “Startup Act.” The draft bill is currently under review by the State Council and is expected to take effect next year.
Fifth, the NIA will also promote the marketing of innovations in local and international markets and encourage large companies to support IBE’s business expansion through the “business fraternity” concept. It will also help IBE build its brand through e-commerce platforms and expand into local and overseas markets. The target overseas markets are China, Japan, South Korea, France, Germany, Poland, Israel, and the United States.
Sixth, it will raise awareness and understanding of the importance of innovation through a number of activities and campaigns.
Seventh, the NIA will prepare its organization to adapt to change and promote cross-functional operations.
