1.4.2 Local start-up financial assistance

The academic service project of the Faculty of Agricultural Product Innovation and Technology plays a significant role in strengthening the capacity of local entrepreneurs to initiate new businesses and develop sustainable income models. The university supports this process through non-cash assistance equivalent to financial support, which helps reduce the risks and initial costs faced by new local start-ups. This assistance includes access to laboratories, scientific equipment, product formulation, packaging development, real market testing, business advisory services, skill development activities, and creative service design — all of which enhance the competitive capabilities and economic value of community products. As a result, the project has successfully developed 10 new products and services, with a total of 153 participants, more than 90% of whom expect to increase their income by more than 5% after participating in the project. This reflects the important role of higher education institutions in building a grassroots entrepreneurial ecosystem through experiential learning, value co-creation, and the transformation of knowledge, technology, and innovation into tangible economic value that supports equitable access to resources for local start-up development.

The results further confirm the efficiency and effectiveness of this support mechanism, which not only leads to the creation of market-ready prototypes but also enhances the practical competitiveness of local entrepreneurs. The large number of participants and the high expectation of increased income demonstrate that non-cash assistance can be effectively converted into real economic outcomes at the community level. Moreover, the Social Return on Investment (SROI) value of 6.80 highlights the high level of social value generated relative to the resources invested. These outcomes reaffirm the project’s success in expanding opportunities for local entrepreneurs and emphasize the university’s role in driving inclusive and sustainable economic growth.

Through place-based development with three local entrepreneurial groups — including the Chumphon community (Roti Crush and community-based tourism program), the pasta and Wolffia pesto product group, and the “Dukbite” catfish product group — it was found that the university’s non-cash assistance, such as access to laboratories, technological equipment, product formulation support, pricing strategy development, packaging design, marketing communication, and real market testing, had concrete impacts in reducing initial investment burdens and accelerating the ability of entrepreneurs to generate real income in the short term. Evidence from actual field operations indicates that the Chumphon community generated sales of 6,415 THB with a profit of 2,964 THB; the Wolffia pesto product achieved total sales of 10,286.10 THB and a profit of 6,365.10 THB; and the “Dukbite” product generated total sales of 13,080 THB with a profit of 5,697 THB. These results clearly demonstrate the effectiveness of this support model in converting knowledge-based resources and non-financial assets into tangible economic outcomes for grassroots entrepreneurs—reflected through real revenue and measurable commercial gains.

Link: https://drive.google.com/drive/folders/1pVyyZ8TloQb7cTeOeZq0VoCNNs6kM-5a?usp=share_link