Media OutReach

NIA Advances Strategic Plan to Empower Thai Innovation Businesses with Knowledge, Funding, and Global Networks to Drive Thai Innovation onto the World Stage

Published

3 months ago

28/08/2025

BANGKOK, THAILAND – Media OutReach Newswire – 28 August 2025 – The National Innovation Agency (Public Organization), or NIA, under the Ministry of Higher Education, Science, Research and Innovation (MHESI), reaffirms its role as the “Focal Conductor of Innovation” in steering Thailand towards its ambition of becoming an “Innovation Nation” under the vision ‘NIA… Leading Thailand to Innovation Nation.’

Dr. Krithpaka Boonfueng, Executive Director of the National Innovation Agency (NIA)

The agency has announced significant achievements in driving Thai innovation businesses towards global competitiveness through its ‘4G’ strategy: Groom, Grant, Growth, and Global. NIA now moves forward with new objectives: to foster innovations that deliver tangible positive impacts on the economy and society, supported by a strong innovation ecosystem. This includes financial support, the development of entrepreneurial capabilities, access to innovation infrastructure, and adaptation to the ongoing volatility of the global economic and social landscape.

The goal is to strengthen Thai entrepreneurs and create opportunities for them to expand their investments both domestically and internationally.

Dr. Krithpaka Boonfueng, Executive Director of the National Innovation Agency (Public Organization) (NIA), stated that Thailand’s innovation businesses hold several inherent strengths: from the readiness of national policies and infrastructure to the ability to blend culture and technology into creative products and services, leveraging diverse natural resources and the growing regional market that continues to attract foreign investors.

These factors have given Thai start-ups and SMEs the opportunity for exponential growth. As Thailand’s Focal Conductor of Innovation, NIA stands ready to link with partners both in Thailand and overseas to promote and support innovation-driven businesses across all dimensions, guided by the 4G framework: Groom: nurturing and developing innovation capability; Grant: providing financial support; Growth: creating opportunities to expand markets and access funding; and Global: propelling Thai innovations onto the international stage.

Over the past year, under the ‘Groom’ dimension, NIA has accelerated capability building through 16 innovation training programs delivered by NIA Academy, engaging more than 40,000 participants across youth, entrepreneurs, organizations, and emerging leaders. The agency has also promoted start-up development through the Thailand League Start-up Program, engaging over 250 teams from 50 universities nationwide, equipping students with entrepreneurial skills and perspectives to prepare them for the real-world start-up journey.

For start-ups, SMEs, and social enterprises looking to further develop and commercialize their innovations, NIA provides financial support under the ‘Grant’ dimension. This is structured into national development innovation funding and area-based innovation funding, supported by nine mechanisms designed to meet target group needs: Open innovation; Mission-driven innovation programs; Development of standards for innovation businesses; Partial interest support to enhance liquidity; Scaling regional innovation to wider markets; Innovation advisory services; Business expansion support; the ‘Good Innovation, No Interest’ initiative; and Co-funding and investment support, connecting entrepreneurs with public and private capital sources.

As of August, NIA has already supported 254 innovation projects this year, with funding exceeding 397 million baht.

In the ‘Growth’ dimension, NIA prioritizes expanding market access and funding opportunities both domestically and internationally, particularly in Thailand’s high-potential industries. To this end, the agency has developed acceleration programs for five priority sectors: agriculture, food, medical and healthcare, energy and environment, and tourism/soft power/society.

In 2026, NIA aims to accelerate growth for 100 start-ups, targeting innovation-driven revenues of 1 billion baht and attracting an additional 2 billion baht in investment. The agency also continues to highlight and disseminate success stories through the Nil Mangkorn (Blue Dragon) Project, now in its third year. Cohorts 1 and 2 of the projects have enabled more than 40 Thai innovation brands to achieve average revenue growth of 3.4 times, equivalent to an economic impact of over 530 million baht.

NIA also positions itself as a global start-up hub, providing services for both Thai start-ups aiming to expand overseas and foreign start-ups seeking to establish businesses in Thailand. Under the ‘Global’ dimension, support ranges from consultancy, market access, and investment facilitation to smart visas and tax measures. Thai start-ups with potential are guided into global markets through international market linkages, partnerships, and overseas business matching activities in countries such as the United States, Sweden, Finland, Qatar, China, Japan, Korea, and Hong Kong. To strengthen these efforts, NIA has also introduced programs to elevate innovation-based enterprises into international markets, including: Corporate Spark: fostering business matching with international start-ups possessing distinctive technologies or services; Global Market Link: creating opportunities to connect and expand markets overseas; and Global Investment Link: enhancing capabilities to attract investment from foreign investors.

Dr. Krithpaka added, “Looking ahead to 2026, NIA identifies four global innovation trends that will shape opportunities and challenges for Thai start-ups and SMEs alike. These are: (1) Technology trends such as AI, IoT, and automation; (2) Environmental trends, including alternative energy, energy efficiency, and carbon reduction; (3) Geopolitical trends, covering resource allocation, conflict situations affecting global supply chains, and trade tariffs between Thailand and the United States, all of which demand adaptability from Thai industry and entrepreneurs; and (4) Demographic trends, particularly the shrinking proportion of the working-age population, which will affect economic structures, productivity, health welfare, and demand for goods and services. These present both challenges and opportunities for Thai SMEs and start-ups to adapt and tap into new business prospects arising from such shifts.”

In response, NIA has outlined three flagship projects aligned with MHESI policy priorities: (1) the development of Thailand as a regional medical hub; (2) the application of agri-tech and agri-innovation by start-ups; and (3) the acceleration of deep-tech innovation enterprises. Additionally, NIA is advancing the NIA Innovation Journey & Dashboard 2026, a national database system consolidating information on innovation-based entrepreneurs, supported products and services, and growth trajectories. This platform will enable analysis of innovation dynamics to guide future policy direction and support mechanisms.

Dr. Krithpaka concluded that “NIA remains firmly committed to promoting and supporting innovations that deliver positive impacts on both the economy and society – what we call Impactful Innovation. This will serve as a driving force to propel Thailand towards becoming a true ‘Innovation Nation’ recognized on the global stage.”

Hashtag: #NIA #NationalInnovationAgency

https://www.nia.or.th/

The issuer is solely responsible for the content of this announcement.

Media OutReach

Payment Options Singapore Secures In-Principle Approval from MAS for Major Payment Institution Licence

Published

17 hours ago

08/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 8 December 2025 – Payment Options Pte Ltd, a Singapore-based payment solutions provider, is pleased to announce that it has received In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) licence under the Payment Services Act 2019.

Payment Options Pte Ltd office in Singapore

This milestone underscores Payment Options’ commitment to supporting Singapore’s small and medium-sized enterprises (SMEs) with simple, secure, and accessible digital payment solutions.

If granted the licence, Payment Options Pte Ltd will be authorised to provide three regulated payment services: Merchant Acquisition, Domestic Money Transfer, and Cross-Border Money Transfer. Through these services, the company aims to empower SMEs with a full suite of payment capabilities — from online payment gateways and QR code payments to the upcoming SoftPOS payments technology — enabling merchants to accept digital payments easily and securely.

“We remain deeply committed to supporting Singapore’s SMEs as they grow and compete in an increasingly digital-first economy. Our vision is to position digital payments as a growth enabler — not a challenge — for small businesses”, said Aaron Yip, Director of Payment Options Pte Ltd. “Our goal is to make digital transactions seamless, secure, and accessible for every business, regardless of size.”

Building on this vision, if the licence is granted, Payment Options will continue to work closely with local merchants, financial institutions, and technology partners to enhance payment accessibility and drive innovation across Singapore’s SME ecosystem.

“We reaffirm our commitment to regulatory compliance and innovation, as we contribute to Singapore’s ongoing journey toward a secure, inclusive, and cash-lite economy.”

The IPA granted by the MAS indicates that a licence may be issued upon the fulfilment of specified conditions and provided there are no material adverse developments affecting the applicant. The IPA does not constitute a licence to provide payment services at this stage, and MAS reserves the right to rescind the approval if it deems appropriate.
Hashtag: #PaymentOptions

https://www.paymentoptions.com/
https://www.linkedin.com/company/payment-options/
https://www.facebook.com/PaymentOptions.int/
https://www.instagram.com/payment.options/

The issuer is solely responsible for the content of this announcement.

About Payment Options Pte Ltd

Payment Options Pte Ltd is a Singapore-based financial technology company providing innovative and secure payment solutions designed to help SMEs and merchants simplify digital transactions. With a focus on compliance, technology, and customer experience, the company aims to make digital payments accessible for every business.

Media OutReach

Financial Assistance at SIM: Breaking Barriers to Education

Published

18 hours ago

08/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 8 December 2025 – For many aspiring learners, financial constraints remain one of the biggest obstacles to achieving their goals. SIM is determined to change that. Guided by the principle that no student should be left behind because of cost, SIM has built a comprehensive ecosystem of financial aid, scholarships, and bursaries to make quality education attainable for all.

At the heart of this mission is the SIM Impact Fund, a S$60 million initiative dedicated to empowering students from diverse backgrounds and ensuring that financial hardship never stands in the way of academic or personal growth. By blending need-based assistance with merit-driven opportunities, SIM is creating an inclusive learning environment where talent and ambition define success.

Empowering Learners Through the SIM Impact Fund

In 2024, SIM introduced the SIM Impact Fund, a S$60 million initiative dedicated to supporting students from lower-income households and ensuring that financial constraints do not hinder educational aspirations. Administered through SIM Trust, the fund is designed to empower learners within and beyond SIM’s community by removing barriers to access. Beginning in 2025, Singapore Citizens and Permanent Residents with a per-capita income of S$1,750 or below can benefit from tiered assistance, ranging from S$6,000 up to S$13,500 for those with PCI of S$600 or less, S$4,500 to S$6,750 for PCI between S$601 and S$1,000, and S$2,000 for PCI between S$1,001 and S$1,750. Beyond tuition aid, the fund also provides support for overseas internships and merit-based scholarships, benefiting approximately 500 students annually.

Beyond Tuition: Comprehensive Financial Aid

SIM’s commitment to learning accessibility goes far beyond tuition subsidies. Through its Financial Assistance schemes, students can tap into a range of support options tailored to different needs. These include Enhanced Bursaries Aid, which provide up to S$13,500 per year for Singapore Citizens, and a SIM GE Crisis Fund offering emergency relief of up to S$5,000 for unforeseen circumstances. In addition, SIM encourages global exposure through Study Abroad Awards, enabling students to broaden their horizons without financial strain. Together, these initiatives reflect SIM’s ethos of inclusivity and resilience, ensuring that financial challenges never derail academic aspirations.

Community-Focused Support

The Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) exemplifies SIM’s deep-rooted commitment to community empowerment and social impact. Launched in July 2024 in partnership with the late Dr Eu’s family,

RESSEC received a combined S$8 million donation, S$6 million from the Eu family and S$2 million from SIM, marking a significant investment in nurturing social entrepreneurship. Guided by Dr Eu’s vision of transforming social service through ethical leadership and innovation, the Centre equips learners and social service professionals via initiatives such as a specialised postgraduate Diploma in Social Entrepreneurship, mentorship, and collaborative dialogues.

RESSEC also provides 12 bursaries of S$10,000 each for SIM Global Education students (check that this is accurate and that it’s not also extended to those outside the SIM ecosystem) who demonstrate strong community service and leadership and those with per-capita income up to S$1,750, prioritising those with per-capita income less than S$1,000. Through this initiative, SIM embeds purpose-driven learning into its mission, empowering students to create sustainable, positive impact in Singapore and beyond

Scholarship for Excellence

SIM offers a diverse range of scholarships under SIM Global Education to recognize excellence and resilience among its students. These include the SIM STARRR Award, which provides up to S$36,000 to outstanding achievers who demonstrate academic distinction and leadership qualities, and the Sports & Arts Talent Award, also valued at S$15,000 for students who excel in athletic or artistic pursuits. Additionally, the Chairman’s Award for Resilience grants S$3,000 to students who successfully balance work and study commitments, showcasing perseverance in the face of challenges. Together, these scholarships complement SIM’s need-based financial aid, creating a holistic support system that rewards merit while ensuring inclusivity.

Conclusion: Building a Future Without Barriers

SIM’s financial assistance framework is more than a set of policies, it is a promise to the community. By investing in initiatives like the SIM Impact Fund and expanding bursaries and scholarships, SIM is actively dismantling the barriers that prevent talented individuals from reaching their potential. This approach does not just benefit students, it strengthens society by cultivating a diverse pool of graduates equipped to lead, innovate, and give back. In a world where education often comes with a hefty price tag, SIM stands out as a beacon of accessibility and empowerment. For students and families seeking assurance that quality education is within reach, SIM offers not just hope but a clear, actionable path forward.

References:

Bursaries & Financial Aid (Enhanced) – https://www.sim.edu.sg/degrees-diplomas/admissions/bursaries-and-financial-aids
Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/ressec
The Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) Opens to Advance Singapore’s Social Sector – https://www.sim.edu.sg/news-events/the-dr-richard-k-m-eu-sim-social-entrepreneurship-centre-%28ressec%29-opens
SIM Scholarship – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships
SIM’s STARRR Award – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/sim-starrr-award-for-new-undergraduate-students
SIM Award and Sports & Artistic Award – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/sim-global-education-scholarship
SIM Global Education Diploma Scholarships – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/sim-global-education-diploma-scholarships
Chairman’s Award for Resilience – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/chairman-s-award-for-resilience

Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills

The issuer is solely responsible for the content of this announcement.

About SIM Global Education

SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 16,000 full- and part-time students and adult learners, of which approximately 36% are international students hailing from over 50 countries.

SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.

For more information on SIM Global Education, visit sim.edu.sg

Media OutReach

Beyond Academic Excellence: SIM Scholarships Champion Leadership, Resilience, and Talent

Published

1 day ago

07/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 7 December 2025 – The Singapore Institute of Management (SIM) is proud to reaffirm its commitment to developing future-ready graduates through a comprehensive scholarship framework that goes beyond academic achievement. These scholarships are designed to recognize and nurture qualities such as leadership, resilience, and talent. These attributes are essential for success in today’s dynamic global environment.

For decades, scholarships have been synonymous with academic excellence. SIM is redefining this narrative by adopting a holistic approach that values character, contribution, and courage alongside academic performance. This initiative reflects SIM’s mission to prepare graduates who are adaptable, innovative, and socially responsible.

Scholarships That Go Beyond Academics

SIM’s scholarship ecosystem reflects its belief that success is multidimensional. Rather than focusing solely on grades, these awards celebrate qualities such as resilience, leadership, and talent. The SIM STARRR Award, for instance, supports freshmen who embody Resilience, Resourcefulness, and Responsibility, offering up to S$36,000 in tuition fees, along with living and exchange allowances, without any bond requirement.

For students who shine in sports or the arts, the SIM Award & Sports/Artistic Talent Award provides S$15,000, disbursed in two tranches, to help them balance academic and extracurricular excellence.

International students pursuing diploma programmes can benefit from the Diploma Scholarships, which cover up to 100% of course fees for academic excellence or 50% for merit-based achievements.

For working adults who have overcome significant challenges, the SIM Chairman’s Award for Resilience offers S$3,000, recognizing perseverance and determination in the face of adversity.

Stories That Inspire

SIM’s scholarships are more than financial aid. They are catalysts for transformation, opening doors for students to turn challenges into triumphs. Take Ernita Tanudjaja, an international student who refused to let pandemic disruptions derail her ambitions. Instead, she leveraged technology to livestream events and boost engagement, showcasing resilience and resourcefulness.

Similarly, Chow Kah Ying, an ICU nurse, managed the intense demands of frontline healthcare during COVID-19 while completing her degree, showcasing perseverance and purpose. Likewise, Michelle Seah transformed O-level failure into triumph, excelling in javelin and academics to earn the SIM Sports & Artistic Talent Award, proof that determination and discipline can rewrite any story.

These journeys reflect SIM’s unwavering belief that leadership and resilience matter as much as grades, and that true achievement lies in character and contribution as much as in academic performance.

The Broader Vision

SIM’s scholarships represent more than financial assistance. They serve as a strategic platform for transformation and growth. Recipients benefit from networking opportunities that connect them with alumni and industry leaders, fostering mentorship and career development. Many scholarships also provide international exposure through exchange programmes that broaden perspectives and enhance global competencies.

In addition to academic achievement, students cultivate essential life skills such as leadership, resilience and adaptability through experiential learning and community engagement. These qualities equip graduates to excel in uncertain environments and contribute meaningfully to society.

This commitment reflects SIM’s core belief that education is not limited to examinations. It is about shaping leaders who create impact and drive positive change in a rapidly evolving world.

References: