Assessing the Social Return on Investment of the Hemp Innovation Development Project on the Cultural Capital of the Hmong Ethnicity in the Phop Phra District of Tak Province

Abstract

The aim of this study is to evaluate the social return on investment (SROI) of the hemp innovation development project in Phop Phra District, Tak Province, with a particular focus on the cultural capital of the Hmong community. The project involves a diverse group of stakeholders, including village scholars, hemp entrepreneurs, community innovators from various generations, representatives from the Khirirat Subdistrict Administrative Organization, the Provincial Community Development Office of Tak, and the Phop Phra Community Development Office. The sample size was determined through a sample selection technique, beginning with a quota of 31 participants selected via convenience and purposive sampling methods. These participants voluntarily provided information and actively engaged in the project. Outcome mapping was employed to analyze inputs, activities, outputs, and summarized outcomes, with consideration of factors such as deadweight, attribution, and drop-off to evaluate surplus outcome data. To calculate the project's SROI, a financial proxy of the actual results was used. The total investment value (inputs) amounted to 5,183,082.86 Thai baht, while the total investment output was 4,824,804.06 Thai baht. The resulting SROI was calculated at 3.22 Thai baht, indicating that for every Thai baht invested, the project generates a social benefit worth 3.22 Thai baht. It can be concluded that the project has generated significant social value and is a worthwhile investment given the allocated budget for its operation.