PERANCANGAN MODEL FINANSIAL UNTUK PENGEMBANGAN SCIENCE AND TECHNOLOGY PARK (STP) (STUDI KASUS: ITB INNOVATION PARK BANDUNG TEKNOPOLIS)

• Main Author: Amalia Yusran, Karina
• Format: Final Project
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/77815
• Institution: Institut Teknologi Bandung

Presidential Regulation of the Republic of Indonesia Number 18 of 2020 concerning the National Medium-term Development Plan (RPJMN) 2020-2024 has one of the policy and strategy directions, namely increasing science and technology capabilities and creating innovation. This is manifested through a major project of developing science and techno parks (STPs) in four universities, one of which is ITB. Currently, STP ITB is developing the ITB Innovation Park (IIP) Bandung Teknopolis. During this development, planning is necessary, such as creating a business model for STP that includes financial modeling and financial analysis. This research aims to design a financial model that can support decision- making based on an STP business model. The designed model will be generic and can be applied to other STPs. The research begins by designing a general STP business model using benchmarking methods and literature review. The focused components of the business model are investment, revenue, cost, and funding. The designed STP business model is then used to determine the variables of the financial model, such as investment types, revenue streams, cost, and funding sources, which are subsequently detailed in the form of elements. The financial model of the STP consists of various schedules that include inputs, assumptions, and mathematical models. The results of the financial model include an income statement and cash flow statement, which are further analyzed to assess financial feasibility (using approaches like IRR, NPV, and payback period), as well as sensitivity testing against the parameters of the financial model variables and the macroeconomic assumptions employed. Subsequently, the designed financial model is applied to the case of IIP Bandung Teknopolis. The implementation begins with adjusting the financial model elements based on the IIP Bandung Teknopolis business model, followed by inputting data and assumptions into the model based on acquired data and information. The result of this implementation are validated with IIP Bandung Teknopolis stakeholders, and it was found that the IRR and payback period values were considered overly optimistic, necessitating adjustments. Based on the adjustments made to various scenarios, diverse IRR, NPV, and payback period values are obtained. The implementation of the financial model provides investment feasibility information for the STP development, capable to identify crucial investments factors, and can provide financial outcome information based on different scenarios. Moreover, the implementation of the financial model can also identify adjustments to the STP business strategy and assumptions.