Bangkok: In a significant development aimed at bolstering the innovation landscape, the Thai government is inviting local startups to apply for funding of up to 2 million baht. This initiative, led by the National Innovation Agency (NIA), seeks to drive Thai research and technology towards greater commercialization.
According to Thai News Agency, Lieutenant Colonel Patthadarasmi Thongsalooykorn, Deputy Spokesperson for the Prime Minister's Office, announced that the government is seeking innovation entrepreneurs and startups with products or services ready for the market. These businesses are encouraged to apply for the NIA's Market Expansion program, which offers substantial funding for market testing and expansion efforts. Successful applicants can receive funding of up to 2 million baht per project, intended for testing innovations with target customer groups and expanding market reach, with a project duration capped at one year.
The funding support is categorized into two forms: full 100% support for projects targeting government agencies, and 50% joint support for those aimed at the private sector. The government is particularly interested in proposals from five strategic industries: agriculture, food, medical and health, energy and environment, and tourism, soft power, and society. This initiative aims to help startups secure their first customers, expand their operations, and boost their competitiveness both in local and international markets.
The Deputy Spokesperson emphasized that this timely initiative aligns with the recent enactment of the Royal Decree establishing the National Innovation Agency (Public Organization) (No. 3) B.E. 2569 (2026). This legal framework enhances the NIA's agility and capacity to provide comprehensive support tools for innovation development. The goal is to foster collaboration between the government, private sector, universities, and research institutions, thereby accelerating the commercialization of Thai research, technology, and innovation in a more efficient manner.