IDEAS home Printed from https://ideas.repec.org/a/spr/joiaen/v13y2024i1d10.1186_s13731-024-00371-x.html
   My bibliography  Save this article

Impact and policy supporting Thailand innovation driven enterprise: orchestrating university innovation and entrepreneurship ecosystem with public and private stakeholders

Author

Listed:
  • Natcha Thawesaengskulthai

    (Chulalongkorn University
    Chulalongkorn University)

  • Awirut Chatmarathong

    (Chulalongkorn University)

  • Jarotwan Koiwanit

    (King Mongkut’s Institute of Technology Ladkrabang)

Abstract

This research paper aims to investigate the impediments faced by innovation-driven enterprises in Thailand and to explore the current measures, policies, and mechanisms related to innovation-driven enterprises (IDEs)’ development both domestically and internationally. The study encompasses a comprehensive approach, including an analysis of an innovation entrepreneur database comprising 320 investors and 883 IDEs. Moreover, semi-structure in-depth interviews were conducted with three investors, twenty-two IDEs’ founders, eight executives, and experts from various sectors, including government, university incubators, and the private sector in Thailand. Through this multifaceted investigation, this paper sheds light on the key factors that hinder the success of IDEs in Thailand, which primarily revolve around the quality of entrepreneurs (Team), Product and Market Fit, and Support. These factors collectively impact the depth of knowledge, business incubation, acceleration programs, and the effectiveness of laws, measures, and policies in supporting innovation capability development within IDEs. In addition, this paper presents a framework for Thailand’s IDEs hub, facilitating the connection between the university's innovation and entrepreneurship ecosystem with public and private stakeholders. This framework serves as a mechanism to address the identified hindrances and foster a conducive environment for IDEs development. To address the obstacles, this paper proposes three crucial strategies, namely, (1) talent management, (2) ease of doing scaleup, and (3) availability of funding. These strategies are envisioned to counteract the identified challenges and can be effectively implemented through an operating model and practical working procedures tailored to suit the specific context of Thailand.

Suggested Citation

  • Natcha Thawesaengskulthai & Awirut Chatmarathong & Jarotwan Koiwanit, 2024. "Impact and policy supporting Thailand innovation driven enterprise: orchestrating university innovation and entrepreneurship ecosystem with public and private stakeholders," Journal of Innovation and Entrepreneurship, Springer, vol. 13(1), pages 1-44, December.
    • Handle: RePEc:spr:joiaen:v:13:y:2024:i:1:d:10.1186_s13731-024-00371-x
    DOI: 10.1186/s13731-024-00371-x
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1186/s13731-024-00371-x
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1186/s13731-024-00371-x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Pian Shu & Claudia Steinwender, 2019. "The Impact of Trade Liberalization on Firm Productivity and Innovation," Innovation Policy and the Economy, University of Chicago Press, vol. 19(1), pages 39-68.
    2. Wooseung Lee & Boyoung Kim, 2019. "Business Sustainability of Start-Ups Based on Government Support: An Empirical Study of Korean Start-Ups," Sustainability, MDPI, vol. 11(18), pages 1-20, September.
    3. Zhao, Bo & Ziedonis, Rosemarie, 2020. "State governments as financiers of technology startups: Evidence from Michigan's R&D loan program," Research Policy, Elsevier, vol. 49(4).
    4. Audretsch, David & Colombelli, Alessandra & Grilli, Luca & Minola, Tommaso & Rasmussen, Einar, 2020. "Innovative start-ups and policy initiatives," Research Policy, Elsevier, vol. 49(10).
    5. Se-Kyoung Choi & Sangyun Han & Kyu-Tae Kwak, 2021. "Innovation Capabilities and the Performance of Start-Ups in Korea: The Role of Government Support Policies," Sustainability, MDPI, vol. 13(11), pages 1-14, May.
    6. Bianchi, Nicola & Giorcelli, Michela, 2023. "Reconstruction Aid, Public Infrastructure, and Economic Development: The Case of the Marshall Plan in Italy," The Journal of Economic History, Cambridge University Press, vol. 83(2), pages 501-537, June.
    7. Mohamed Abouelhassan Ali & Moaaz Kabil & Rahaf Alayan & Róbert Magda & Lóránt Dénes Dávid, 2021. "Entrepreneurship Ecosystem Performance in Egypt: An Empirical Study Based on the Global Entrepreneurship Index (GEI)," Sustainability, MDPI, vol. 13(13), pages 1-22, June.
    8. Marco Gazel & Armin Schwienbacher, 2021. "Entrepreneurial fintech clusters," Small Business Economics, Springer, vol. 57(2), pages 883-903, August.
    9. Ratinho, Tiago & Amezcua, Alejandro & Honig, Benson & Zeng, Zhaocheng, 2020. "Supporting entrepreneurs: A systematic review of literature and an agenda for research," Technological Forecasting and Social Change, Elsevier, vol. 154(C).
    10. Chaminade, Cristina & Intarakumnerd, Patarapong & Sapprasert, Koson, 2012. "Measuring systemic problems in National Innovation Systems. An application to Thailand," Research Policy, Elsevier, vol. 41(8), pages 1476-1488.
    11. Alex Bell & Raj Chetty & Xavier Jaravel & Neviana Petkova & John Van Reenen, 2019. "Who Becomes an Inventor in America? The Importance of Exposure to Innovation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 134(2), pages 647-713.
    12. Mohammad Alawamleh & Yara Hanna Francis & Kamal Jamal Alawamleh, 2023. "Entrepreneurship challenges: the case of Jordanian start-ups," Journal of Innovation and Entrepreneurship, Springer, vol. 12(1), pages 1-14, December.
    13. Alessandra Colombelli, 2016. "The impact of local knowledge bases on the creation of innovative start-ups in Italy," Post-Print halshs-01340050, HAL.
    14. Wonglimpiyarat, Jarunee, 2016. "The innovation incubator, university business incubator and technology transfer strategy: The case of Thailand," Technology in Society, Elsevier, vol. 46(C), pages 18-27.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Nicholas Bloom & John Van Reenen & Heidi Williams, 2019. "A toolkit of policies to promote innovation," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 10.
    2. Gary Chapman & Hanna Hottenrott, 2024. "Founder Personality and Start-up Subsidies," Industry and Innovation, Taylor & Francis Journals, vol. 31(2), pages 241-270, February.
    3. Santoleri, Pietro & Russo, Emanuele, 2025. "Spurring subsidy entrepreneurs," Research Policy, Elsevier, vol. 54(1).
    4. Brian J. Bergman & Jeffery S. McMullen, 2022. "Helping Entrepreneurs Help Themselves: A Review and Relational Research Agenda on Entrepreneurial Support Organizations," Entrepreneurship Theory and Practice, , vol. 46(3), pages 688-728, May.
    5. Purari Kumar & Gourav Dwivedi, 2025. "Critical Success Factors Affecting the Performance of High-tech Startups: A Flexible Learning Perspective," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 26(2), pages 359-380, June.
    6. Kaur, Manmeet & Ahmad, Wasim & Hari, K.S. & Kattumuri, Ruth, 2024. "FinTech entrepreneurial ecosystem in India: Role of incubators and accelerators," Global Finance Journal, Elsevier, vol. 60(C).
    7. Luca Grilli & Boris Mrkajic & Emanuele Giraudo, 2023. "Industrial policy, innovative entrepreneurship, and the human capital of founders," Small Business Economics, Springer, vol. 60(2), pages 707-728, February.
    8. Temitayo Shenkoya & Kyung Yun Hwang & Eul Hyun Sung, 2023. "Student Startup: Understanding the Role of the University in Making Startups Profitable Through University—Industry Collaboration," SAGE Open, , vol. 13(3), pages 21582440231, September.
    9. Devarakonda, Ramakrishna & Liu, Aqi, 2024. "A legitimacy-based view of the impact of government venture capital on startup innovation: Evidence from a transition economy," Other publications TiSEM 3afc4804-f469-4dd7-bb34-8, Tilburg University, School of Economics and Management.
    10. Altmejd, Adam, 2023. "Inheritance of fields of study," Working Paper Series 2023:11, IFAU - Institute for Evaluation of Labour Market and Education Policy.
    11. Giancarlo Giudici & Massimiliano Guerini & Cristina Rossi-Lamastra, 2019. "The creation of cleantech startups at the local level: the role of knowledge availability and environmental awareness," Small Business Economics, Springer, vol. 52(4), pages 815-830, April.
    12. Marta Aloi & Joanna Poyago-Theotoky & Frédéric Tournemaine, 2022. "The Geography of Knowledge and R&D-led Growth [Real effects ofacademic research: comment]," Journal of Economic Geography, Oxford University Press, vol. 22(6), pages 1149-1190.
    13. Calamunci, Francesca Maria & Frattini, Federico Fabio, "undated". "When Crime Tears Communities Apart: Social Capital and Organised Crime," FEEM Working Papers 334350, Fondazione Eni Enrico Mattei (FEEM).
    14. Alex Bell & Raj Chetty & Xavier Jaravel & Neviana Petkova & John Van Reenen, 2019. "Who Becomes an Inventor in America? The Importance of Exposure to Innovation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 134(2), pages 647-713.
    15. S, Minkyu., 2021. "The impact of trade on R&D: Evidence from UK firms," Cambridge Working Papers in Economics 2151, Faculty of Economics, University of Cambridge.
    16. Raquel Ortega-Argilés, 2022. "The evolution of regional entrepreneurship policies: “no one size fits all”," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 69(3), pages 585-610, December.
    17. Ivailo Izvorski & Sergiy Kasyanenko & Michael M. Lokshin & Iván Torre, "undated". "Europe and Central Asia Economic Update, Fall 2024: Better Education for Stronger Growth," World Bank Publications - Reports 41997, The World Bank Group.
    18. Chattergoon, B. & Kerr, W.R., 2022. "Winner takes all? Tech clusters, population centers, and the spatial transformation of U.S. invention," Research Policy, Elsevier, vol. 51(2).
    19. Cirera, Xavier & Comin, Diego & Cruz, Marcio & Lee, Kyung Min & Martins-Neto, Antonio, 2023. "Exporting and Technology Adoption in Brazil," World Trade Review, Cambridge University Press, vol. 22(3-4), pages 334-347, October.
    20. Ornella Wanda Maietta & Fernanda Mazzotta, 2018. "Firm Survival and Innovation: Knowledge Context Matters!," CSEF Working Papers 496, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:joiaen:v:13:y:2024:i:1:d:10.1186_s13731-024-00371-x. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.