Asian Institute of Technology Center in Sri Lanka (AITCS) Business Plan. Table of Content

Transcription

1 Asian Institute of Technology Center in Sri Lanka (AITCS) Business Plan Table of Content No. Description Page I. EXECUTIVE SUMMARY Objectives 1.2 Mission 1.3 Key to Success II. BRIEF DESCRIPTION OF THE ASIAN INSTITUTE OF TEHCNOLOGY CENTER IN SRI LANKA 2.1 Institutional Ownership 2.2 Institutional Location and Facilities 2 III. PRODUCTS AND SERVICES Description of Products and Services 3.2 Tuitions and fees pricing policy 3.3 Competitive and Comparative Advantages 3.4 Future Products and Services IV. MARKET ANALYSIS Target Groups V. STRATEGY AND IMPLEMENTATION Collaboration Development 5.2 AITCS Steering Committee 5.3 Scheme of Operational Funding 5.4 Scheme of Program Funding 5.5 Program Development VI. MANAGEMENT Organizational Structure 6.2 Management Team VII. FINANCIAL PLAN Key Financial Indicators 7.2 Costs of operations 7.3 Surplus of AITCS operation income 7.4 Projected Cash Flow APPENDIX Proposed Budget for AITCS This report is revised by AIT as of 15 March 2006.

2 I. EXECUTIVE SUMMARY 1.1 Objectives The Asian Institute of Technology Center in Sri Lanka (AITCS) will be a collaborative institution for Human Resource Development located in Colombo, Sri Lanka, which will contribute to biotechnology research and development, consultancy, professional trainings and higher education programs in biotechnology according to the Sri Lankan regulations. AITCS will be established with the collaboration between Asian Institute of Technology (AIT), Thailand and the Government of Sri Lanka represented by Ministry of Education, Cultural Affairs and Human Resource Development (MOE), Sri Lanka. The main objective of the Biotechnology Center in Sri Lanka is to share and contribute AIT expertise in Biotechnology to the Government of Sri Lanka. The Asian Institute of Technology (AIT) at the invitation of the Ministry of Education of the Government of Sri Lanka is willing to assist and have suggested a very practical approach in developing the skills while providing innovative solutions for the industry. AITCS partnership collaboration will also align with national academic institutions in Sri Lanka such as the University of Colombo and the University of Peradeniya. Policies and operational activities of AITCS are managed by AITCS Steering Committee which is formed by AIT and MOE. 1.2 Mission AITCS is established with a mission which is as follows: a) Sharing the knowledge of science and technology particularly in the field of biotechnology which has been developed by AIT to support development in Sri Lanka. b) Increasing quality of human resources in Sri Lanka through trainings and high educational programs for professionals. c) Increasing regional partnerships and collaboration in the field of biotechnology through research and development, training and education Keys to Success The key success factors in implementing the AITCS program is to develop partnership collaboration based on mutual respect, good partnership and mutual understanding with rights and responsibilities. 1

3 II. BRIEF DESCRIPTION OF THE ASIAN INSTITUTE OF TEHCNOLOGY CENTER IN SRI LANKA 2.1 Institutional Ownership Asian Institute of Technology Center in Sri Lanka (AITCS) is a partnership collaboration institution established by AIT and Ministry of Education, Cultural Affairs and Human Resource Development (MOE), Sri Lanka. AITCS operation shall be abided by AIT s policies and procedures (P&Ps). Exceptions would require the approval from AIT. 2.2 Institutional Location and Facilities AITCS will be located in the Centre of Excellence, namely the Institute of Biochemistry, Molecular Biology and Biotechnology (IBMBB), University of Colombo. III. PRODUCTS AND SERVICES 3.1 Description of Products and Services AITCS will conduct a two-year Master s Degree Program in Biotechnology which will commence in Bangkok, Thailand for a duration of two semesters (one year) at AIT and then complete the advance theoretical aspects of biotechnology and thesis dissertation in Colombo and Peradeniya Universities within the next two semesters. On their return, the students will continue to materialize and improve their undertakings of the sponsor industry for a minimum period of one year as Research Associates in these two local institutions. However, it is expected that the duration could be much longer since the degree of value additions to the original research proposal which was undertaken is immense. This will no doubt provide the envisaged critical mass of leading research scientist for Institute of Biochemistry, Molecular Biology and Biotechnology (IBMBB), and Agri- Business Center (AgBC), University of Colombo to make these institutions the Centers of Excellence in Biotechnology. It will be strategically planned to employ qualified personnel in the support base industries. Their responsibilities will be to ensure production and development of quality goods and services. At the same time they will monitor the bioprocesses for official reporting and dissemination of knowledge, especially publishing in reputed journals. 3.2 Tuitions and Fees pricing policy Tuitions and registration fees at AITCS shall be the same rate as at AIT. Exceptions would require prior approval from AIT. 3.3 Competitive and Comparative Advantages Competitive and comparative advantages of AITCS education is the education fee (tuition and academic fee) which is relatively lower than other international education institutions whilst offering international education with quality standard at AIT. Quality of products and services offered at AITCS will be same to those offered at AIT, Bangkok. The medium of instruction would be English and the quality of AITCS faculty resources will be the same standard at AIT, Bangkok for teaching students at AITCS under AIT curriculum. AIT will send its faculty member for a minimum of fifty percent (50%) at AITCS and another fifty percent (50%) shall be locally outsourced qualified professionals as Adjunct Faculty. 2

4 3.4 Future Products and Services To be in line with global developments in providing higher education, AITCS will improve and develop products and services in biotechnologies which support agricultures, management, business, industries and information management and development activities with international standard. IV. MARKET ANALYSIS 4.1 Target Groups At the beginning, target groups will comprise of 2 Sectors: - Public Sector with primary focus on Government Employees - Private Sector with primary focus on Industries Advertising campaigns shall be done in order to attract these two target groups. V. STRATEGY AND IMPLEMENTATION 5.1 Collaboration Development AITCS is a collaboration between AIT and MOE. AITCS would like to develop linkages with industries both in the public and private sectors throughout Sri Lanka. In the future, AITCS would also be a Regional Center for expertise in the field of biotechnology. 5.2 AITCS Steering Committee AIT and MOE is going to create the AITCS Steering Committee (Council of advisors) which is responsible for giving alternatives of programs to AITCS and identifying sources of funds for the programs. AITCS Steering Committee will appoint the operational team which is led by AITCS Director. 5.3 Scheme of Operational Funding a) Salaries or remuneration for members of AITCS Steering Committee shall be covered by own institutions. b) Salaries or remuneration for operational team shall be covered by the tuition fees. At AIT, Bangkok, the students will use all the facilities offered at AIT. In the AITCS, the infrastructure will be arranged by the University of Colombo. 5.4 Scheme of Program Funding AITCS Steering Committee is going to facilitating financial support including grant and international scholarship to support the programs. a) Grant will be used as: - Faculty salary - National and International Field trip Cost - Research and Development - Infrastructure Development b) Scholarship will be used as: - Educational expenses AITCS Steering Committee can also offer this training and educational programs to general community by their own cost. 5.5 Program Development AITCS programs will facilitate research and development; consultancy; professional trainings; and certificates and diploma programs which support development of target groups within public and private sectors. 3

5 VI. MANAGEMENT 6.1 Organizational Structure Organization structure is formed based on partnership collaboration and works adversity which are related to the objectives of the establishment of the AITCS. 6.2 Management Team Organization of AITCS mainly consists of two main parts, AITCS Steering Committee and AITCS Office (Director and staff). A) AITCS Steering Committee Based on the AIT-MOE MoU, AITCS Steering Committee will oversee the operations of AITCS. The tenure of AITCS Steering Committee is for one calendar year. ATICS Steering Committee shall meet at least twice a year or for every six months. AITCS Steering Committee shall initially consist of five (5) members: one (1) representative from AIT; one (1) representative MOE; one (1) from Public Sector; one (1) from Private Sector; and one (1) selected AITCS Director who shall serve as General Secretary of AITCS Steering Committee. AITCS Steering Committee will be chaired by a Chairperson who is nominated and appointed by AIT and MOE. Tasks of AITCS Steering Committee are: 1) To prepare the Policy development for implementation of AITCS 2) To supervise the operational activities 3) To identify national and international funds 4) To decide the standard operation procedure of AITCS B) AITCS Office AITCS Steering Committee will appoint an AITCS Director who will lead the operation of the AITCS Office. The Director of AITCS will also serve as General Secretary of AITCS Steering Committee. The Director of AITCS Office will be assisted by a secretary. The organizational structure and numbers of personal shall be adjusted according to development and workload of AITCS. VII. FINANCIAL PLAN 7.1 Key Financial Indicators Key financial indicators of financial plan AITCS are: a) Continuing increasing profit b) Minimum cost c) Maximum revenue 7.2 Costs of operations a) Salary of Operational Team (inclusive of salary for AITCS Director) shall be covered by the tuition fee b) AIT faculty time shall also be covered by the tuition fee. 7.3 Financial sustainability a) Either research and development or consultancy or professional trainings shall be conducted based on feasibility of the program. b) Each program must meet the breakeven point of operating revenue per program. c) Sample cost calculations for running two-year master s degree program is presented in Annex 1 4

6 7.4 Surplus of AITCS operation income a) Twenty percent (20%) surplus of AITCS operation shall be reserved for future AITCS development activities. b) Remaining eighty percent (80%) of AITCS operation shall be used for international scholarships for AITCS graduates who are eligible. 7.5 Projected Cash Flow AITCS expects its operating revenue from: - 50% from the Government - 50% from the industry sector 5

7 ANNEX 1 Asian Institute Technology Center in Sri Lanka Business Plan: Proposed Budget for Study at AIT S.N. Item Amount 1 Tuition fees at AIT 24 x 20 students 173, Registration fees at AIT US$515 x 2 semesters x 20 students 20, Application fees at AIT US$25 x 20 students Living/accommodation expenses at AIT US$295 x 12 months x 20 students 70, Laboratory expenses at AIT US$1000x20 students 20, (including costs for consumable and other items) 6 AIT cost for supervision in Colombo US$2,000 x 4 visits to Colombo 8, (including air travel, accommodation and local travel in Colombo) 7 Miscellaneous 6, TOTAL 299,

8 Asian Institute Technology Center in Sri Lanka Business Plan: Proposed Budget for Study in Colombo S.N. Item Amount 1 Center Director in Colombo Salary - US$1,500 x 24 months 36, Transportation - US$150 x 24 months 3, Secretary for Center in Colombo Salary -US$200 x 24 months 4, Operation Costs for Center in Colombo US$1,000 x 24 months 24, (including electricity, office supplies, phone/fax, internet service, etc.) 4 Supervision cost in Center in Colombo US$1,000 x 12 months 12, Research expenses in Colombo US$1,000 x 20 students 20, TOTAL 100,