The National Innovation Agency (NIA) has allocated 200 million baht to fund startups associated with six S-curve sectors in a bid to improve Thailand's competitiveness.
The six sectors comprise: high-value food for export; food security; a circular and low-carbon economy; clean energy; digital business linked with artificial intelligence (AI), robotics and immersive technology (ARI Tech); and electric vehicles (EVs).
"We are supporting S-curve industries as they can propel the country's economy, while startups can pursue innovation in these industries," said Vichian Suksoir, deputy executive director of the NIA.
The NIA has run the Thematic Innovation programme for five years, supporting grants and fund-matching for startups so they can gear up for innovation production, he said.
The programme has resulted in more than 92 projects linked with targeted industries, including healthcare, agricultural technology and food, which can create an economic impact of 530 million baht, said Mr Vichian.
For the new fiscal 2023 programme, which started last month, the NIA earmarked 200 million baht to support the six target sectors.
This marks the first time the EV industry has been included in this funding scheme.
The budget rose from 60 million baht in the previous fiscal year.
For high-value food for export, the government aims to turn Thailand into a global leader in healthy food, premium food, alternative protein, and local food with added value, such as snacks for people suffering from kidney problems.
The food security sector involves innovative agriculture, food traceability, post-harvest management and smart food manufacturing.
The circular and low-carbon economy is associated with an industrial and business model geared towards carbon neutrality, as well as a plastic and waste management model.
The clean energy sector targets technical know-how and innovation to improve the quality of biofuels and support clean energy.
ARI Tech is concerned with how to apply advanced technologies like AI and robotics to industries such as healthcare and manufacturing.
The EV sector involves the creation of EV infrastructure, EV management platforms, automotive manufacturing, charging stations, and power management for EV batteries.
Each qualified project will receive 5 million baht in funding.
Applications for the programme can be completed online at mis.nia.or.th until the end of this month.
