On 5 February 2025, NXPO President Dr. Surachai Sathitkunarat participated in the Thailand Synergy Forum 2025 at the Stock Exchange of Thailand. The event was inaugurated by Dr. Suvit Maesincee, former Minister of Higher Education, Science, Research, and Innovation (MHESI).
Dr. Suvit highlighted that the 11 organizations under Thailand Synergy have been collaborating for over a decade. Discussions at the forum focused on future directions, emphasizing the critical role of innovation-driven enterprises. He underscored the importance of supporting Thai SMEs in scaling up into innovation-driven enterprises (IDEs), which are essential for national economic growth. However, achieving this transformation requires coordinated efforts from all stakeholders.
“The 11 organizations may have different mandates, but we can establish a shared vision and common objectives for national development. Thailand has untapped potential, and the key challenge is to transform SMEs into IDEs. To accelerate this shift, all agencies must work together to define a unified agenda with measurable outcomes,” Dr. Suvit stated. Dr. Surachai reaffirmed NXPO’s commitment to fostering the transition of SMEs into IDEs and outlined its role as a policy driver. NXPO aims to break Thailand free from the middle-income trap by increasing the number of IDEs with THB 1 billion in annual revenue to 1,000. However, IDEs face significant challenges, including limited access to funding for business expansion, capacity constraints, market expansion barriers—both domestically and internationally—as well as regulatory hurdles related to business establishment, licensing, and access to incentives.
To address these challenges, NXPO has focused on enhancing the innovation ecosystem through key policy initiatives in collaboration with other agencies. These include:
- Enhancing Investment through the University Holding Company (UHC) Mechanism – NXPO has developed The Prime Minister’s Office Regulation on Public-Private Partnerships in Projects Utilizing Research and Innovation B.E. 2566 (2023), enabling universities to invest in innovation businesses and spin-offs.
- Expanding Market Access through ECIP – The E-Commercial and Innovation Platform (ECIP) aims to address market entry challenges by leveraging digital platforms, providing training for sales talent, and utilizing consumer insights analysis to enhance global market reach.
- Linking Businesses with Expert Services – The Innovation Business Development Service (iBDS) mechanism supports SMEs by providing innovation guidance.
- Regulatory Reforms to Facilitate Research and Innovation – NXPO has supported legislative efforts to remove barriers and accelerate research commercialization. Key initiatives include the National Policy Council Regulation on Criteria and Procedures for Providing Research and Innovation Grants to the Private and Civil Sectors, B.E. 2563 (2020) and the Thailand Research and Innovation Utilization Promotion Act B.E. 2564 (2021) or TRIUP Act.
- Offset Policy – This policy mandates technology transfer and economic collaboration in government and public-private procurement projects involving foreign suppliers. NXPO, in partnership with Thailand Science Research Innovation (TSRI), the National Science and Technology Development Agency (NSTDA), and the Comptroller General’s Department, has championed this initiative. The policy strengthens Thai SMEs and IDEs by facilitating knowledge transfer from international sources, generating economic value and creating jobs.
Dr. Surachai emphasized that transforming Thai SMEs into globally competitive IDEs requires concerted efforts from all stakeholders, including government agencies, academic institutions, private investors, and industry leaders. With strong collaboration, Thailand can build a robust innovation ecosystem and position its IDEs as global leaders.
