Bangkok: Dr. Kritphaka Boonfueng, Director of the National Innovation Agency (NIA) under the Ministry of Higher Education, Science, Research and Innovation, has disclosed details about the Startup Thailand: Global Startup Hub 2026 project. She emphasized NIA's commitment to supporting startups through four mechanisms: GROOM, GRANT, GROWTH, and GLOBAL. The initiative aims to establish a global startup hub, focusing on scaling businesses for sustainable international growth. Key to success is understanding the business ecosystem, international regulations, and partnering with organizations that can mentor and drive growth both domestically and internationally.
According to Thai News Agency, NIA has targeted technology startups poised to shape the future economy, such as those in AI, IoT, Semiconductor, EV and Mobility, Energy Tech, and Climate Tech and Sustainability. This year, 30 companies participated, supported by a comprehensive platform offering interconnected systems, intensive workshops, and tailored company consultations. A significant component of the project is business matching, facilitating Proof of Concept (POC) testing with national organizations. Over 60 business matching sessions occurred this year, with several projects undergoing real-world testing. Notable participants included Sahaphat Pibul Co., Ltd., Thai Post, and PTT's gas group, engaging in various system and innovation tests.
Private sector investment in startups greatly exceeds the government's R and D budget of approximately 19 billion baht. Business matching provides access to these substantial funding sources.
For the following year, NIA plans to leverage its success by involving large listed companies to assist emerging businesses in overcoming challenges. The expansion blueprint includes entering 12 international markets: six ASEAN countries, Japan, China (especially Shenzhen and Hong Kong), Taiwan, the Middle East (notably Saudi Arabia), the United States, and African markets with potential in AgTech. Diplomatic engagement through the Ministry of Foreign Affairs will be critical to ensure the safe entry of Thai companies into these markets.