SOCIAL RETURN ON INVESTMENT OF SCIENTIFIC RESEARCH PROJECTS IN PROJECT PACKAGE OF PARA-RUBBER INDUSTRY DEVELOPMENT
Keywords:Project Evaluation, Research Project, Social Return on Investment (SROI), Para-rubber Industry
This article analyzed Social Return on Investment (SROI) of scientific research projects in the project package of para-rubber industry development. The data were collected using in–depth interviews with the key informants of the 15research projects using purposive selection. The data were analyzed using SROI analysis. The results revealed the value of the net benefit in terms of output and outcome equaled 34,019,934 THB. In addition, the Thailand Research Fund (TRF)’s research funding amounted to 18,551,441 THB. As a result, the SROI was1.83. This value implied that the TRF obtained the social return on investment of 1. 83 THB for each their 1 THB research investment which was invaluable. Recommendations for the improvement of the SROI as follows (1) enhancement of para-rubber product experiment at a laboratory level to a market level, (2) research funding for continuous research projects in case of the research project outputs were uncompleted, and () improvement of pattern of research investment and ownership of research results. These results are beneficial for the TRF, other research grant associations and educational institutions to formulate appropriate policy for further research supports.