Outcomes and Impacts of Investment in Research and Development of Biochemical Energy and Biodegradable Plastics

Aerwadee Premashthira; Kulapa Kuldilok; Visit Limsombunchai

Authors

Aerwadee Premashthira Department of Agricultural and Resource Economics, Faculty of Economics, Kasetsart University, Bangkok, Thailand
Kulapa Kuldilok Department of Agricultural and Resource Economics, Faculty of Economics, Kasetsart University, Bangkok, Thailand
Visit Limsombunchai Department of Agricultural and Resource Economics, Faculty of Economics, Kasetsart University, Bangkok, Thailand

Abstract

The present study aimed to evaluate outcomes and impacts of investment in research and development of biochemical energy and biodegradable plastics research projects during 2020-2021 fiscal years funded by the Program Management Unit for Competitiveness (PMU-C). A total of 42 research projects were completed in 2023, with 196.12 million Baht of research funding. Data were gathered from various secondary and primary sources, including NRIIS database, online questionnaires, and in-depth interviews with stakeholders and experts. Analysis was conducted using descriptive statistics, while economic feasibility was assessed through case-study research projects. Overall, there was 5.5% of in-kind funding and 1% of in-cash funding by external participating organizations. There were 76% of projects with TRL level 4 or higher, which is an important factor in driving impacts. Most projects (55%) resulted in positive outcomes and impacts at higher levels, while 12% of the projects exhibited potential for sustainability. For the selected case-study projects, 6 projects that received a total investment of 48.4 million Baht generated significant economic surplus. The Social Return on Investment (SROI) was 1.62, and the Internal Rate of Return (IRR) was 24%, indicating a social impact of return value. Investing in such research projects is profitable; related agencies should therefore promote utilization of the projects to target users to generate impacts under the rapid of energy and technologies transformation scheme.

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