Ms. Supamas Issaravakdi, Minister of Higher Education, Science, Research and Innovation (Higher Education), revealed that for Thai innovation to grow significantly, the strength of the private sector must be relied upon with the government sector being an important supporting force to create awareness and strengthen cooperation to push Thailand towards becoming a “nation “Innovative” and move to rank 30 in the world’s countries with the ability to innovate by 2030.
Government should act as a sandbox and accelerator for innovation to create experimental areas and bring about change through innovation. Accelerating growth in investment in innovation linked to leveraging research Promoting cooperation between the education sector and the private sector Creating employment, investment, knowledge transfer, and creating innovative products that meet the needs of the global market.
Stimulating activities in innovative financial markets and technological capital markets. Creating opportunities to access funding sources for companies conducting research and developing innovations. Increase the number of innovation-based institutions to reform business structures. Creating new companies that respond to changes in the value chain. Creating a highly skilled labor market, protecting and exploiting intellectual property, and finally increasing the number of bases for innovation, creativity and culture. One of Thailand’s highlights is the use of soft power to develop innovations in the travel, food, fashion and entertainment industries.
While Dr. Krysvaka Bonphoyang, Director of the National Innovation Agency (public organization) or NIA said the factors that determine Thailand’s ability to innovate are its greatest strengths. The group of market system factors ranked 22nd, an increase of 5 places over last year, in addition to the group of factors with improved rankings that included the group of infrastructure factors, which improved by 5 places, and the group of factors that resulted from creativity. The overall picture improved 5 places, with strong export of creative products (ranked 1st). The group of factors that fell in the rankings includes: Group of Institutional Factors Group of Human Capital and Research Factors The institutional factor ranking fell the most by 7 places, however, no Thailand continues to maintain its innovation efficiency, which reflects expectations based on income levels (GDP per capita), at a positive level. There has been greater progress in innovation than expected.
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