New product development in micro, small, and medium-sized enterprise-based agriculture products: a valuation technology approach

Department of Agricultural Economics and Social Sciences, Universitas Jenderal Soedirman, Jl. Dr. Suparno, P.O. Box 125, Purwokerto 53123, Central Java, Indonesia

^* Corresponding author: budi.dharmawan@unsoed.ac.id

Abstract

The innovation from university can assist Micro, Small, and Medium-sized Enterprises (MSMEs) in growing their business. However, because the technology has not been tested, MSMEs are still hesitant to adopt it. As a result, the objective of the research is value the innovation produced by the researcher at university that can add value to MSME products and business development. We employ a technology valuation application as a decision-making tool for valuing and predicting license prices for innovative technology to be commercialized. The use of mangosteen rind powder as a natural preservative on the physicochemical characteristics of coconut sugar had a risk factor of 0.4277, with a technology class of moderate risk, and was located in the technological life cycle's growth area and the product life cycle's diffusion area. The technology license price was IDR 302,042,177 and the diffusion of new technical consumer features was a growing field of innovation. As a result, to attract late adopters, it was necessary to project a positive image of technology beneficial to their health. The study's relevance is based on the patient-oriented technology valuation system, which can anticipate the price of new technology that has the potential to be commercialized.