A) Financing innovation policies did not change significantly in response to changes of innovation systems and the development level of the country. There is little co-evolution between the two.
B) Most policies instruments in Thailand are, to a large extent, limited to tax incentives and are mainly for R&D activities. Grants and public equity financing have not been used extensively to finance activities ranging from starting up new companies, implementing new production technologies, engineering, design, R&D, R&D commercialization, marketing and branding.
C) There is low level of flexibility in getting rid of ineffective instruments and/or converting between instruments, such as converting a scheme from tax incentives to grants.
D) Only a few policy measures ‘selectively’ target strategic sector, clusters, activities, or development stages of firms.
E) Most of the incentives are offered and operated by Ministry of Science and Technology, not ‘economic’ ministry especially Ministry of Industry.
F) Policy processes in Thailand are weak in term of cross-agency coordination, monitoring, evaluation, and learning.