Get to Know Innovation Driven Enterprises (IDEs) Program
The determination to lead Thailand beyond the “middle-income trap” requires boosting the capacity of Thai entrepreneurs to become “innovative business enterprises.” Innovation Driven Enterprise (IDEs) refers to organizations, companies, or businesses that leverage innovation to gain competitive advantages in various aspects.
The private sector plays a vital role in leading the national economy because it is both a producer of innovation, a source of employment, and a distributor of income. The goal is to lead the nation to a high-income country by 2036, as outlined in the 20-year national strategy. However, Thai entrepreneurs have essential challenges in driving their businesses with innovation. It was found that Thai entrepreneurs invested in research and innovation in small amounts compared to companies with potential throughout the country.
In the past, Thailand has researched many innovative and in-depth technologies. However, it has not been able to develop further until it becomes a product or service to the market as it should be. Due to budget constraints or lack of sufficient knowledge in doing business, it is essential to push entrepreneurs to be able to extend those innovations to commercial benefit. And help promote deep innovation in Deep Science and Technology.
Program Management Unit for Competitiveness(PMUC) is an independent funding body operating under the legal framework of the Office of National Higher Education Science Research and Innovation Policy Council (NXPO). It was established by the NXPO in 2019 and is in line with the Thailand 4.0 policy in order to create an economy based on knowledge and innovation; the government has therefore established IDEs program to increase innovation driven businesses. IDEs program provides partial funding support to medium and large enterprises through “Mentoring System and Mentorship Network” which “Intermediary organizations” coach and connect IDE candidates and “Innovation Business Development Services (IBDS)” offers expertise and actionable solutions.
PMUC expected such Mentoring Model would help promote Thailand to have a more complete and stronger innovation ecosystem, which would raise the country’s sustainable economic development.
