Entrepreneurship in Regional Innovation Clusters
Case Study of Chiang Mai and Chiang Rai, Thailand
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This report evaluates how to strengthen Thailand's SME and entrepreneurship policies to promote innovative entrepreneurship and SME innovation at regional level. This is critical in supporting a shift towards a more innovation-driven and regionally-balanced economy in Thailand. The report illustrates the needs by taking a specific policy case, namely activating new and small firms in the development of an innovation cluster in the advanced agriculture and biotechnology and food for the future sectors in Chiang Mai and Chiang Rai regions in northern Thailand.
The report examines policy options in four major areas affecting the cluster: strengthening the local entrepreneurship ecosystem for example in scale-up finance and entrepreneurial culture; upgrading business development services so they that the match the requirements of SME innovation; attracting foreign direct investment and brokering supply chain linkages with local SMEs; and creating a cluster management organisation to co-ordinate policy.
The report makes policy recommendations illustrated by international inspiring policy practice examples in each area. It shares a vision for translating Thailand's new-found biotechnology research strengths into economic development by stimulating innovation absorption by SMEs and commercialisation by start-ups and scale-ups.
Executive summary
This report examines how to strengthen regional innovation clusters and sectors driving future growth in Thailand by stimulating innovative start-ups and scale-ups. It explores the case of the advanced agriculture and biotechnology and food-for-the-future cluster in the Chiang Mai and Chiang Rai regions in northern Thailand. However, it also has important lessons for the development of a new generation of SME and entrepreneurship policies for all the future driving sectors in the Thai economy, as Thailand seeks a shift to a more innovation-based small business economy in the post-COVID-19 recovery.
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