It predicts how innovation will affect three sectors over the next few decades: productivity, economic growth, and societal well-being.
Thailand is placed 43rd in this year’s innovation talent ranking, and 44th in this year’s innovation output sub-index (up 2 ranks).
It maintained position 5 in the 36 nations’ upper middle-income economies despite falling one spot to 48th on the innovation input sub-index.
In every category, Thailand performs better than the average. Out of 17Â Southeast Asian, East Asian, and Oceanian nations , Thailand is placed ninth.
The most impressive testament of Thailand’s capacity for innovation is a collection of business system factors that, despite a modest reduction, are still at a high level.
The Thai private sector’s commitment on expanding company capacities via the development of innovation is shown in the share of gross R&D expenditure invested by business organizations, which is rated first for the third consecutive year. Overall, the improvement was 6 ranks (rank 49), with the export of innovative goods and services showing particular strength (1st rank).
Moreover, infrastructural factors  has a 7 rank overall improvement, demonstrating Thailand’s ability to considerably enhance its infrastructure.
In terms of information and communication technology, the rankings rose 14 spots (to 46th), especially when looking at the indications of access to this technology (30th place).
The usage of information and communication technologies (ICTs) (49th) and general infrastructure (44th) both increased, with the strength of Thailand being the efficiency of logistical transportation (31st). Nations with higher middle incomes are comparable
Institutional considerations, on the other hand, should be prioritized more. The overall position slipped by 14 spots (78th place). Research and human capital factors Overall standing fell by 8 positions.
However, the nation’s research and development (R&D) indicators kept improving. Specifically the share of gross domestic product that is spent on research & development. Thailand’s strength is in the upper middle-income countries, where it is ranked 36th in market system variables. While the general situation stayed the same at 27th rank, there were specific signs that pointed to the nation’s weakness in funded venture capital agreements. In terms of both production and knowledge and technology Thailand is ranked 87th. Overall standing fell three positions (43rd place)
Thanks to the compatibility and support of development with systemic limits and indications, Thailand will be able to quickly advance into a top innovation-driven nation.Â
The NIA is an organization that directs and coordinates the nation’s innovation system. As a result, it’s critical to keep an eye on and make use of the data from the World Innovation Index in order to work with different organizations to develop suitable and consistent policy designs capable of effectively and directly driving the Thai innovation system.
These ranks and indications, Dr. Pun-art said, represent that, t o adapt to constant change, Thailand’s government, school system, commercial sector, and general people have all worked to improve their innovation capacities throughout the years.
The nation needs to move faster in six critical directions in the near future.
1. The State is the Sandbox and Accelerator of Innovation to build a test environment, innovate for change, improve public services, and give citizens a chance to be involved in the creation of new digital technologies, transforming the government sector’s role from one of regulator to one of promoter and driver, encouraging and motivating the nation to be capable of innovation.
2. Increase investment in innovation linked to the use of research more quickly. P articularly in Thailand’s private sector, which has a larger investment ratio than governmental institutions.
Therefore, encouraging collaboration between the sectors of industry and education will accelerate progress. F oreign knowledge is used, invested in, and transferred for research and development to develop cutting-edge products that satisfy the demands of the global market.
3. Encourage activity and create a database of capital markets and financial innovations that are technologically advanced, by expanding the venture capital industry. A a joint venture structure that takes on risks in the creation of private sector inventions, lowers those risks for early-stage investments, and creates chances for enterprises that conduct research and development to access funding sources for R&D Microfinance institutions.
4. Develop new companies that adapt to changes in the value chain and increase the number of innovation-based firms for business restructuring to a nation that competes with technology and knowledge.
Additionally, it develops a highly skilled labor market that employs knowledge-intensive skills to draw talent in and boost the competitiveness of companies, sectors, and services.
5. Encourage the filing of patent applications and the use of patents to raise the value of products and services. Thailand has submitted a claim for utility good which is the eighth-highest petty patent globally.
However, innovation happened over time. Technology development is not at a very high level. Therefore, aggressive investment and intellectual property rights protection strategies must be created,Â
to stimulate the production of new knowledge in the nation and will aid in enhancing local and international access to information and technology. Including the development of an environment for innovation that is suitable for promoting the infrastructure-driven expansion of intellectual property, protective mechanism and e asy and quick registration
6. Expand the innovation, creativity, and cultural foundation. This is a resource that has the potential to spark many different inventions and that may be incorporated into a wide range of businesses, including tourism, gastronomy, fashion, and entertainment.
Many nations have used soft power to advance their industries and build world-class brands. Thailand has a distinctive capital for culture. D iversified and well-known on a global scale.
However, there is little promotion and application of marketing and communication strategies to encourage growth and awareness on a global scale. In order to advance the development of Thai innovative identity and branding to the worldwide level, it is required to make use of these techniques.
The Minister of Higher Education, Science, Research, and Innovation (TSU), Professor (Special) Dr.Anek Laothammathat, has prioritized “innovation” and believes that it will advance rapidly. This will require  the power of the private sector, with the government serving as a crucial reserve, that uses research and innovation to help Thailand escape the cycle of middle-income countries to a high-income country. Also to help Thailand develop into a “Innovative country.” The ultimate objective is to promote innovation in Thailand in order for it to rank among the 30 nations with the most inventive talent by 2030.
