ABSTRACT
Most instruments for innovation financing in Thailand have been, to a large extent, limited to tax incentives, mainly for R&D activities. In the more successful catch-up economies of Taiwan, Singapore and Malaysia, grants and public equity financing have been extensively used to finance activities ranging from starting new companies, implementing new production technologies, engineering, design, R&D, R&D commercialisation, marketing and branding. Compared to Taiwan and Singapore, private venture capitalists in Thailand invested more in firms in the rapid-growth phase rather than start-up and early-growth phases. Private businesses investing in start-up firms were scarce, compared to those countries.
