The National Innovation Agency (NIA) has commended 10 local businesses for their outstanding creations in an award presentation aimed at attracting new entrepreneurs to help Thailand compete more efficiently on the world stage.

Mr. Pornchai Rujiprapha, Permanent Secretary of the Ministry of Information and Communications Technology (ICT), said that the Top Ten Best Innovative Business Awards 2011, the 7th of its series, was organized to help elevate local entrepreneurs' competitive edge and boost their awareness of innovation. 

The ICT Ministry's Permanent Secretary stressed that as these elements are essential for the private sector to race strongly on the world stage, Thailand may be taken over by neighboring Vietnam, Cambodia, Myanmar and Laos if it starts to lack innovative technology and creation. 

This year, 10 select businesses have been recognized for their outstanding innovations, including Tiger fire-retardant mosquito nets, 2-way compact powder “Oryze” that is made from jasmine rice, and “MobileBurn” incinerator. 

Dr. Supachai Lorlowhakarn, Director of the National Innovation Agency (NIA), said that the awardees have been selected from 680 projects, which have received more than THB640 million in funding from the NIA and generated over THB 12.16 billion in investment.