Product Development and Business Model Plan of Analogue Rice

Abstract

Analogue rice is an artificial rice made from other carbohydrate sources beside rice. Main purpose of this research was to formulate and plan business model for analogue rice industry. Analogue rice on this research was mainly made from sago starch with another complements, such as white corn flour, yellow corn flour, and cassava. Analogue rice produced was tested using hedonic test and found that cassava analogue rice was the best one to be developed industrially. Business model for analogue rice used business canvas, which parameters are customers relation, key partnership, key activities, key resources, value propositions, cost structure, revenue streams, channels, and customer segments. Business feasibility study showed that B/C of analogue rice was 1.0563; NPV Rp1 061 036 059; IRR 16.53%; payback period 8.82 years; and BEP was 510.17 kg output/day). It can be concluded that analogue rice industry was feasible economically.