Page 338 - Social Enterprise A New Business Paradigm for Thailand

The overarching goal of this R&D plan is to generate meaningful social impact and promote
the practical application of research findings across national, provincial, and community
levels. Well-designed key performance indicators (KPIs) will be critical for assessing the

success of the initiative, capturing both the extent of social impact and the level of
technology or innovation adoption.

10. Key Performance Indicators (KPIs) for the Social Enterprise R&D Plan

KPIs should be selected based on the operational scope of each project, recognizing that
levels of impact and utilization may differ. Recommended indicators include:

(1) Number of social issue dimensions addressed: Measures the range of issues tackled by
the project, e.g., environment, education, healthcare, etc.

(2) Financial sustainability of SEs at the conclusion of the five-year plan.

(3) Dissemination of project outcomes through various media platforms.

(4) Number or percentage of beneficiaries: For example, how many people gain access to

the developed technologies or innovations; the percentage of targeted populations (e.g.,
persons with disabilities, the elderly) whose quality of life improves; user satisfaction rates;
and levels of volunteer engagement.

(5) Integration of project outcomes into policy or systemic frameworks: Such as the
adoption of new policies supporting innovations, nationwide replication by government
agencies, or inclusion in national development plans.

(6) Overall social impact index aligned with the SDGs: This may consist of both qualitative

and quantitative indicators.

11) Recruitment Process

(1) Candidate selection for the incubation program will be conducted annually during the
first five years. The objective is to identify ten high-potential individuals each year to
undergo training and incubation support.

(2) For those eligible to receive funding, the program should be broadly publicized. Only
teams of entrepreneurs, working in collaboration with university or academic institution
researchers, will be eligible to apply. An initial screening questionnaire may be used to

assess suitability for further funding consideration. Up to 20 applicants will be shortlisted
for in-depth interviews, each lasting no less than one hour. From this group, ten finalists will
be selected. The top three candidates will receive full research funding of up to 3 million
baht per year. The remaining seven may be awarded seed funding of up to 100,000 baht to
further develop their proposals. Applicants are not required to be first-time grant recipients.
Proposed projects should ideally build on prior NRCT-funded research (see Figure 11.1).

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