Thailand’s RISE Fund aims to turn research into real economic value

New national initiative seeks to bridge academia, industry and investors as Thailand pushes to convert scientific research into innovation-driven growth.

Thailand has launched the Thailand RISE Fund, marking a new phase in the country’s strategy to strengthen its national research and innovation ecosystem. The initiative aims to accelerate the conversion of academic research into practical applications that generate measurable economic and social benefits. The revamped funding initiative was presented at the Thailand RISE Fund Forum: RISE UP THAILAND, held in partnership with Chulalongkorn University. The gathering brought together policymakers, researchers, entrepreneurs and industry representatives to explore ways Thailand can strengthen its role in the global innovation landscape.

While Thailand has significantly increased its research output over the past decade, national leaders say the next challenge is ensuring that this knowledge produces tangible results in the real economy. Thailand has steadily expanded the volume of scientific publications and academic research across universities and research institutions. However, experts say the country must now focus on translating research into real-world innovation.

Wilert Puriwat, president of Chulalongkorn University, emphasized that producing knowledge alone is not enough to drive national progress.

“A country advances not simply because it produces knowledge, but because it can transform knowledge into a coordinated system that connects policy, research, innovation and industry,” he said.

He added that universities must play a more strategic role in national development by helping move research from laboratories into practical applications that generate economic and social value.

This shift reflects a broader trend seen across many innovation-driven economies, where governments are increasingly trying to strengthen links between academia, startups, corporations and investors.

A coordinated innovation system

Leaders within Thailand’s research community say stronger coordination across institutions will be essential if the country wants to fully unlock the value of its research investments.

Sompong Klaynongsruang, president of Thailand Science Research and Innovation (TSRI), said the national science and innovation ecosystem must operate with clearer alignment between policy direction, funding mechanisms and industry needs.

“The development of Thailand’s science, research and innovation system must be driven systematically — from strategic policy and targeted funding to the practical use of research outcomes in the economy and society,” she said.

According to Sompong, collaboration between universities, government agencies and private companies will be key to creating long-term national impact.

“When all sectors move forward together, research will not only generate knowledge but also create meaningful national transformation.”

Rethinking how research is funded

Officials say the launch of the Thailand RISE Fund reflects a shift in how the country approaches research funding.

In the past, research programs often focused heavily on publication output and academic metrics. The new initiative aims to place greater emphasis on impact, commercialization and real-world application.

Ake Pattaratanakun, chairman of the Thailand RISE Fund Strategic Communications Subcommittee, said Thailand has already succeeded in expanding research activity.

“Thailand has significantly increased its research output over the past decade, but the key challenge today is not quantity. It is how research creates economic and social value,” he said.

The fund aims to bridge the gap between research institutions and industry by supporting projects that demonstrate clear practical benefits.

The RISE framework

The Thailand RISE Fund operates under a strategic framework built around four core pillars designed to strengthen the country’s innovation ecosystem.

The four pillars include:

• Research – supporting high-quality academic and scientific research
• Innovation – encouraging the development of market-ready technologies and solutions
• Science Excellence – strengthening Thailand’s research capabilities and global competitiveness
• Ecosystem – building stronger partnerships between universities, industry, government and communities

Among these, the ecosystem pillar plays a particularly important role. By encouraging collaboration across sectors, the initiative aims to create a more integrated national innovation environment. For startups and technology companies, this could help open new pathways to commercialize university research and collaborate with academic institutions.

Another priority of the initiative is expanding participation in Thailand’s innovation system beyond established research centers. Officials say regional forums and outreach programs will help researchers, entrepreneurs and local industries collaborate on projects aligned with regional economic strengths. This approach reflects a shift toward a more distributed innovation ecosystem, where research activity and technology development are not concentrated only in major academic institutions or metropolitan areas. By encouraging regional participation, policymakers hope to stimulate innovation-driven economic growth across the country.

Why this matters for the startup ecosystem

Although the Thailand RISE Fund is primarily positioned as a national research initiative, it also has implications for the startup and venture ecosystem. By strengthening links between universities and industry, the initiative could help create:

• More deep-tech startups emerging from university research
• Greater collaboration between researchers and private companies
• New commercialization pathways for academic discoveries
• More investment opportunities in science-driven innovation

Countries such as South Korea, Singapore and Israel have already demonstrated how strong university–industry collaboration can fuel startup creation and technology commercialization. Thailand appears to be pursuing a similar model. If implemented effectively, the RISE Fund could help transform academic discoveries into new technologies, startups and industrial applications.

Ultimately, the Thailand RISE Fund represents an attempt to reposition research as a core driver of national economic development. Rather than treating academic research as a separate domain, policymakers want it to become more tightly integrated with industry, entrepreneurship and investment. The long-term vision is to shift Thailand’s research culture from what officials describe as “research for journals” toward “research for the nation.” If successful, the initiative could strengthen Thailand’s position within Southeast Asia’s growing innovation economy while helping the country move toward a more knowledge-driven development model.

For startups and technology companies, the effort could open new opportunities to collaborate with universities, commercialize research and build globally competitive innovations emerging from Thailand’s scientific ecosystem.

Quick Takeaways

• Thailand launches the RISE Fund: The country has introduced the Thailand RISE Fund, a national initiative designed to accelerate the transformation of academic research into real economic and social outcomes.
  
• Focus shifting from publications to impact: Policymakers say Thailand’s research system is moving away from prioritizing academic output alone and toward commercialization, industry collaboration, and measurable economic value.
  
• Four-pillar framework: The initiative operates under a strategic model built on Research, Innovation, Science Excellence, and Ecosystem, aiming to strengthen the country’s broader innovation infrastructure.
  
• Bridging academia and industry: The fund is intended to close the gap between universities and the private sector by supporting projects that address real market needs.
  
• Regional participation encouraged: Outreach programs and regional forums will help expand innovation activities beyond major research institutions and engage local entrepreneurs and industries.
  
• Potential impact on startups: Stronger university–industry collaboration could lead to more deep-tech startups, technology commercialization, and new opportunities for venture investment.
  
• Part of a broader regional competition: The initiative reflects Thailand’s effort to strengthen its position in Asia’s innovation landscape alongside countries such as Singapore, South Korea, and Japan.