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Home > News > High hopes but low spending when it comes to innovation: survey

October 4th, 2007

High hopes but low spending when it comes to innovation: survey

Of the 1,000 companies involved in the survey, 71.7 per cent said they planned to develop innovations to help improve their products and services. They expect to produce about 2.2 innovative products every year, on average.

Companies taking part in the survey were highly competitive enterprises for which innovation development should be a common goal. They include the Siam Cement and Charoen Pokphand groups, PTT and member companies of the Federation of Thai Industries (FTI) and the Association of Thai Software Industry.

The survey - part of the Thailand Innovation Capability Index 2007 - was conducted by the National Innovation Agency (NIA) together with the FTI, Chulalongkorn University and Microsoft Thailand.

Although it showed a wide expectation of innovation development, the survey also showed that Thai enterprises were not fully confident of their capability when it comes to competing with others on the world stage.

The survey was conducted from March to September this year. It questioned 100 chief executives and 1,000 enterprises on innovation development during the past year. It covered seven key industries - biotechnology,

medical and healthcare, environment, branding and design, nanotechnology, software and agricultural electronics.

The survey found that executives had 68.2-per-cent confidence in their innovative capability, showing a fair rate of innovation development among Thai enterprises.


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