Thailand 4.0 – representing the transformation to an innovation-driven economy – sets the vision for Thailand to achieve stability, prosperity, and sustainability and become a developed country by applying the principle of sufficiency economy philosophy. To make this change happen, reforming and enhancing of research and innovation system is necessary to leverage the country’s competitiveness, improve people’s quality of life, and subsequently drive sustainable economic growth. To actualize the reform and Thailand 4.0 vision, the 2020-2027 Higher Education, Science, Research and Innovation Policy and Strategy was formulated with goals and expected results defined for achieving an innovation-driven economy with sustainability. To this end, the goal is to increase the gross domestic expenditure on R&D (GERD) to 2% of GDP, add a thousand THB-1-billion-revenue innovation-driven enterprises (IDEs), and create five unicorn startups.