The government has delivered good news for Thai startups by opening applications for funding support up to 2 million baht to expand markets and grow businesses, alongside unlocking the National Innovation Agency (NIA) through a new law that increases its authority to hold shares and co-invest in innovation businesses.
On 2 July 2026, Captain Phatdarasmi Thongsaluaykorn, Deputy Spokesperson of the Office of the Prime Minister, announced that the government invites Thai innovation entrepreneurs and startups with commercially ready products or services to apply for the Market Expansion program by the National Innovation Agency (NIA), a public organization. Funding of up to 2 million baht per project is available to test innovations with target customer groups and expand markets, with project duration not exceeding one year.
Support is divided into two types: 100% funding for expansion into government agencies and 50% co-funding for expansion into the private sector. Proposals are welcomed from five strategic industries: 1. Agriculture, 2. Food, 3. Medical, Health and Well-being, 4. Energy and Environment, and 5. Tourism, Soft Power, and Society. The aim is to help entrepreneurs gain their first customers, grow their businesses, and enhance competitiveness domestically and internationally.
The Deputy Spokesperson said this good news coincides with the enforcement of the Royal Decree Establishing the National Innovation Agency (Public Organization) (No. 3) B.E. 2569, marking a major step to elevate NIA’s role to be more agile with comprehensive tools to support innovation development. It aims to connect collaboration among government, private sector, universities, and research institutes to accelerate the commercialization of Thai research, technology, and innovations more efficiently.
Key points of the new law include granting NIA authority to directly hold shares, become partners, and co-invest with individuals or juristic persons, moving beyond primarily providing grants and incubation programs. It also allows NIA to invest via Venture Capital Trusts, a fundraising mechanism to invest in innovation businesses and startups, thus equipping the government with tools to support entrepreneurs throughout research, development, and commercialization stages.
The law stipulates that such shareholding and investments must aim to promote the development of the country’s innovation ecosystem, not primarily for profit. All activities must comply with criteria set by the Cabinet to ensure transparent and appropriate use of public funds.
This elevation of NIA’s role will increase funding options for innovation entrepreneurs, especially deep tech startups that require high investment, long development time, and often struggle to access early-stage funding. Previously relying mainly on grants, NIA will now have tools for direct co-investment once Cabinet criteria are enforced. This will enable continuous support from prototype development and market testing to acquiring first customers and business expansion, strengthening Thailand’s innovation ecosystem and boosting private investor confidence in Thai startups.
“The government aims to create an ecosystem conducive to the growth of Thai innovation businesses in all dimensions, including updating laws to keep pace with changes and providing concrete support measures that meet entrepreneurs’ needs. Opening Market Expansion funding alongside enhancing NIA’s role is an important step to help Thai startups access capital, expand markets, and commercialize research into globally competitive businesses, thereby elevating Thailand’s economy through innovation,” said the spokesperson.
Interested entrepreneurs and startups can submit project proposals for funding through the National Innovation Agency (Public Organization)’s MIS system athttp://mis.nia.or.thor request further information via email atmandatory@nia.or.th