In a bid to revitalize technology and R&D strategies in the country, the Thai government has approved an additional THB 2.5 billion ($74.1 million) for 27 universities as part of the Thaliand 4.0 plan, an economic model dedicated to driving Thailand’s economy through innovation. Over the past 30 years, the country has poured billions of baht into R&D, but as of yet, no products have been commercialized, or the innovations end up under foreign ownership. The government is revamping the state of R&D in the country, going so far as to debate the “usefulness” of state R&D organizations, such as the National Science and Technology Agency and the Thaliand Research Fund, as well as “wasteful research” done by universities and local R&D authorities.

Organizations such as Tusco (Thailand-US Cooperation) have been serving as a remedy in the meantime, with Tusco suggesting the launch of a US-Thailand research program in the US, consisting of US researchers training Thai students, researchers and educators in specific sectors without Thailand spending too much on lab infrastructure. Tusco could also potentially set up a fund for Thai researchers and companies to buy startup companies in the US, jumpstarting the process of developing and commercializing products.

Currently, the government plans to increase spending on R&D by two percentage points to represent 0.7% of GDP, or THB 120 billion ($3.6 billion). By 2020, the government plans for R&D to represent 1.5% of GDP and 2% by 2032. Currently, public spending on R&D accounts for approximately 30%, and more incentives are needed to increase private sector R&D spending.

Source: The Nation