EARLY-STAGE STARTUPS IN THAILAND:
LEARNING FROM REGIONAL PATHWAYS
FOR GREEN INNOVATION
How investors, policymakers, and innovation pioneers envision Thailand’s next chapter in Climate Tech and Green Innovation
As climate change reshapes industries and the global transition toward a green economy accelerates, building successful Green Innovation and Climate Tech startups requires far more than breakthrough technology. It demands an ecosystem where research, capital, commercialization, industry partnerships, and international expansion work seamlessly together.
This was the central theme of “Early-Stage Startups in Thailand: Learning from Regional Pathways for Green Innovation,” one of the featured discussions at SITE 2026, where policymakers, investors, and innovation leaders gathered to examine how Thailand can cultivate a startup ecosystem capable of producing globally competitive ventures.
The panel featured Pariwat Wongsamran, Deputy Executive Director of Innovation System at the National Innovation Agency (Public Organization) (NIA); Nicha Erpaiboon, Head of Portfolio at The Radical Fund; and Dr. Keita Ono, Chief Innovation Officer at KX Knowledge Xchange. The discussion was moderated by Dr. Natcha Tulyasuwan, Country Director of New Energy Nexus Thailand.
Singapore Is Not a Blueprint—It’s a Source of Inspiration
Opening the discussion from an investor’s perspective, Nicha Erpaiboon shared insights from following Climate Tech startups across Southeast Asia. Today, more than half of The Radical Fund’s investment portfolio is based in Singapore—a reflection not only of its ecosystem, but also of the country’s market dynamics.
With a relatively small domestic market, Singaporean founders are compelled to think globally from day one. Many startups successfully expand into the United States and Europe as early as the Seed or Series A stage, embedding international scalability into their business strategy from the outset.
Equally important is Singapore’s well-connected “Lab-to-Market” ecosystem, where research institutions, funding mechanisms, testing facilities, and industry partners work together to accelerate commercialization. This integrated support system is particularly critical for Climate Tech ventures, whose technologies typically require longer development and validation cycles than conventional software startups.
Yet, the key takeaway for Thailand is not to replicate Singapore’s model. Instead, Nicha emphasized the importance of creating a uniquely Thai “playbook”—one that builds upon the country’s own strengths, industrial landscape, and economic context to transform research into commercially viable innovation.
Thailand’s Competitive Edge: A Regional Testbed for Innovation
From the public sector perspective, Pariwat Wongsamran highlighted that although Thailand may attract less venture capital than Singapore, it possesses several strategic advantages that are difficult to replicate elsewhere.
Thailand benefits from a growing network of Corporate Venture Capital (CVC) initiatives, innovation-driven corporations, and comprehensive industrial supply chains, particularly across agriculture, food, manufacturing, and biotechnology.
These strengths position Thailand as an ideal regional testbed, where emerging technologies can be validated in real-world environments before expanding into international markets.
Global sustainability regulations are further accelerating this opportunity. Mechanisms such as the Carbon Border Adjustment Mechanism (CBAM) are encouraging companies worldwide to seek cleaner technologies and low-carbon solutions, creating expanding market opportunities for Climate Tech startups.
However, Pariwat acknowledged one of Thailand’s longstanding challenges: many entrepreneurs remain focused primarily on the domestic market. While Thailand is large enough to launch a business, it is rarely large enough to sustain long-term global growth.
This is why NIA continues to champion the philosophy of “Global from Day One,” encouraging founders to build businesses with international markets in mind from the very beginning.
Bridging the Missing Link Between Research and Commercial Success
Dr. Keita Ono pointed to another critical gap within Thailand’s innovation landscape.
While the country has established numerous universities and startup incubators, it still lacks sufficient accelerators capable of systematically transforming research into internationally scalable businesses.
To address this challenge, KX developed the Tech Bite program under its Spin-in Model, enabling corporations to unlock underutilized intellectual property (IP) and research assets by partnering with external startups to create entirely new businesses.
One compelling example is KX’s collaboration with Ajinomoto, which secured more than US$10 million in investment from the parent company within just three months.
The case demonstrates how effectively connecting research, technology, corporate partners, and entrepreneurs can dramatically shorten the path from innovation to market.
NIA’s 4G Framework: Supporting Startups from Laboratory to Global Markets
During the session, Pariwat introduced NIA’s comprehensive 4G Framework, designed to support startups throughout every stage of their growth journey.
The framework begins with Groom, helping entrepreneurs strengthen technological capabilities through laboratory access, intellectual property management, and technology transfer.
It then progresses to Grant, providing funding for prototypes, Minimum Viable Products (MVPs), and Proof-of-Concept projects across strategic industries including agriculture, food, healthcare, and Climate Tech.
The third stage, Growth, accelerates startups through specialized programs such as AGROWTH, Space-F, Climate X,and Future Move, preparing ventures for commercial expansion.
Finally, Global supports international market entry, connecting Thai startups with opportunities across Singapore, Malaysia, Indonesia, Japan, South Korea, Europe, and beyond.
Pariwat also highlighted NIA’s evolving role—from a traditional grant provider to an active investment catalyst—bringing together public funding, private capital, and trust-based investment mechanisms to strengthen Thailand’s innovation ecosystem.
This strategic evolution reflects a broader commitment to providing entrepreneurs not only with financial resources but also with access to networks, strategic partnerships, and long-term growth opportunities.
The Next 6–12 Months: Turning Potential into Momentum
When asked what Thailand should prioritize over the next six to twelve months, all three panelists agreed that building a globally competitive startup ecosystem requires coordinated action across every sector.
For Pariwat, the immediate priority is “Securing the Market.” Government agencies can play a transformative role by becoming the first customers for innovative technologies through Thailand’s Innovation List procurement mechanism. Early adoption allows startups to validate their solutions, build commercial references, and gain credibility before expanding into private and international markets.
Nicha emphasized that while funding remains important, real customers matter even more. Opportunities to conduct corporate pilot projects enable startups to validate technologies under real operating conditions, generate revenue, and demonstrate commercial viability. She also encouraged greater sharing of pilot project outcomes to accelerate collective learning across the ecosystem.
Meanwhile, Dr. Ono underscored the importance of building confidence in Thai innovation itself.
He cited a recent collaboration with Thailand’s Ministry of Foreign Affairs that successfully attracted Maria 01, one of the Nordic region’s leading startup accelerators, to publicly announce investments in Thai sustainability startups.
The achievement signals growing international confidence in Thailand’s innovation capabilities. The next challenge, he noted, is ensuring that Thai businesses and institutions share that same confidence.
Building Thailand’s Own Green Innovation Playbook
The discussion concluded with a clear message: the future of Green Innovation cannot be built through investment alone.
Success depends on an ecosystem where research, funding, commercialization, market access, policy support, and global expansion are interconnected.
While Thailand may not yet match the scale of leading innovation economies, it possesses distinctive advantages—from strong industrial foundations and corporate partnerships to its unique ability to serve as Southeast Asia’s innovation testbed.
By embracing a uniquely Thai approach, fostering globally minded entrepreneurs from day one, and strengthening collaboration across the public and private sectors, Thailand is well positioned to become a leading regional hub for Green Innovation and Climate Tech.
The country’s next generation of startups will not simply respond to the global sustainability movement—they have the opportunity to help shape it.
