ASSESSING RETURN ON INVESTMENT AND ECONOMIC IMPACT OF AREA-BASED INNOVATION RESEARCH PROGRAMS FOR STRENGTHENING THE GRASSROOTS ECONOMY: A CASE STUDY OF RAJAMANGALA UNIVERSITY OF TECHNOLOGY SRIVIJAYA

Abstract

This study aimed to evaluate the return on investment (ROI), economic impacts, and knowledge utilization of the Area-Based Development Innovation Research Program implemented by Rajamangala University of Technology Srivijaya, as well as to formulate policy recommendations for future research funding management. A mixed-methods research design was employed to examine 21 research projects conducted in Trang and Songkhla provinces, covering 37 products and innovations. Quantitative data—including costs, revenues, net profits, and returns on investment—were analyzed using descriptive statistics and comparisons of ROI before and after project implementation. Qualitative data were collected from research reports, in-depth interviews with researchers and knowledge users, field observations, workshops, and data validation. Content analysis was then conducted to explain the pathways through which research outcomes and impacts occurred. The findings revealed that 27 existing products achieved higher ROI values following project implementation, nine newly developed products generated favorable returns, and one existing product experienced a decline in ROI. The greatest increase in ROI was observed in oysters cultivated using three-tier suspended plastic baskets. The ROI increased from 163.52% to 350.75%, representing an increase of 187.23 percentage points, as the cultivation system enhanced production capacity and total revenue. Among the newly developed products, sweetened pickled marian plum seeds achieved the highest ROI, at 279.63%. Furthermore, the research program contributed to knowledge transfer, innovation adoption and application, the enhancement of community skills and capabilities, increased product value, higher household incomes, and stronger collaborative networks within the target areas. These findings demonstrate that area-based research can generate tangible economic returns and effectively support grassroots economic development.

Keywords: Area-Based Research, Return on Investment, Economic Impact, Knowledge Utilization, Grassroots Economic Development