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Thailand’s National System for Innovation Business & Marketing Essay (Essay Sample)

Instructions:

Use one of the following criteria outlined: historical, social, cultural, IP protection, assess that country's "national system for innovation." You should also check the country's innovation ranking (use WIPOs GII). In your opinion, what is the single biggest issue that is keeping this country from being more innovative?
Please write about Thailand.

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Thailand’s National System for Innovation
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Thailand’s National System for Innovation
Thailand is the second-largest economy in South-East Asia with a GDP of $529 billion, according to World Bank data 2019. It is an upper-middle-income country. The country was ranked 44th out of 131 countries globally and the first to export innovative products in the WIPO's Global Innovation Index 2020 (do Carmo Silva et al., 2020). Their rankings were credited to consistent development and favorable conditions for innovation. Thailand's position was lower as compared to previous years. Although the country was ranked the top in innovative products exports, they have challenges that prevent them from being more innovative (Pratoom et al., 2012). Innovation is affected by social, historical, and cultural factors and IP infringement.
IP protection is the biggest issue keeping Thailand from being more innovative. The country has a poorly developed IP system. There are several bureaucratic procedures required for application, delays in examining patent rights application, and uncertainty regarding patent rights

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