On November 13, 2023, the Federation of Thai Industries (FTI), led by Mr. Grianggrai Thieranukul, President of the FTI, signed a memorandum of understanding to collaborate on the development and promotion of innovation-driven businesses to enhance the competitiveness of the industrial sector with the Program Management Unit for Competitiveness (PMUC) under the Ministry of Higher Education, Science, Research, and Innovation (MHESI), led by Assoc. Prof. Thongchai Suwansichon, Ph.D., Director of PMUC, at the Passion Room (802), 8th Floor, FTI.
Mr. Grianggrai Thieranukul, President of the FTI, stated that the cooperation between the PMUC and FTI aims to promote and support the development of high-value products through the application of deep technology domestically to commercially orient them. This collaboration also aims to develop production processes and testing standards, enhancing the competitiveness of both the manufacturing and service sectors. It also supports and fosters cooperation among relevant agencies, including educational institutions, government, private sector, and various organizations involved in the development and promotion of innovative businesses to enhance the competitiveness of the industrial sector at both national and international levels. Additionally, it aims to link innovative startups with various potential businesses for sustainable and significant growth, promoting investment in new industries, which is the core of the country’s economic driving mechanism.
Under this cooperation, both organizations will jointly select and support startups and innovative businesses with potential. The PMUC will support startups or businesses with Technology Readiness Levels (TRL) ranging from 4 and above, while the FTI will support startups or businesses with Technology Readiness Levels (TRL) ranging from 7 and above. They will provide funding support in various forms to implement projects to support startups or businesses to create breakthrough innovations in global markets, fostering economic growth in Thailand, and strengthening startups and innovative businesses to be robust, highly potential, and competitive. The ultimate goal is to support the sustainable growth of Thai startups and innovative businesses. Mr. Grianggrai expressed his confidence that this cooperation would be a great opportunity for Thai industrialists to develop their own technology and innovation to meet global market demands, thereby increasing business value and enabling the transition from traditional industries to new industries or Next-GEN Industries.
Assoc. Prof. Thongchai Suwansichon, Ph.D., Director of PMUC, stated that currently PMUC collaborates with various sectors including the government and the industrial sector to drive the commercialization of successful research outcomes from PMUC at TRL levels 4-8, both domestically and internationally. PMUC aims to support research funding for innovation projects with collaboration from entrepreneurs or industrial beneficiaries in line with the country’s industrial goals and the Innovation One Fund. This fund supports the pairing of innovative startups with SMEs, and this collaboration will be a key mechanism for integrating innovation to support businesses, enhancing the competitiveness of the Thai industrial sector, and accelerating the growth of Thai startups together. It helps promote the development of an innovative business base in the global value chain sustainably, while enhancing the country’s innovation ecosystem through close collaboration between PMUC and the Federation of Thai Industries (FTI) on this occasion.
