The Impact of an Ageing Society in Driving Health and Wellness Innovation: The Case of Prince Of Songkla University Science Park

Ageing society and the rising demand for health and wellness are considerably important megatrends that shape the future of Thailand. These trends present both challenges and opportunities for regional innovation agencies such as science parks. This study explores how science parks can effectively respond to these global megatrends, focusing on the case of the Prince of Songkla University Science Park (PSUSP) and its innovative approach to addressing the ageing society through advancements in the local health and wellness industry. The paper proposes four approaches that science park addresses to those global megatrends namely, applying foresight for strategic planning, encouraging research commercialisation in the area of health and wellness, collaborating with external partners and incubating health and wellness startups to the global market. The insights gained from this paper provide useful guidance to other science parks exhibiting a similar context.