Universitas Indonesia (UI) through the Directorate of Innovation and Science Techno Park (DISTP) in collaboration with PT Pertamina Persero (Company) held a socialization of the business incubation funding program – both internal and external to Universitas Indonesia – on Wednesday (9/2). This business incubation funding is a mentoring program from DISTP Universitas Indonesia for Universitas Indonesia academics in the development and financing of innovation-based startups.
The event was opened by the Vice Chancellor for Research and Innovation UI, drg. Nurtami, Ph.D., and invited the Director of Universitas Indonesia Directorate of Innovation and Science Techno Park Ahmad Gamal, S.Ars., M.Sc., MUP., Ph.D., and Manager of New Ventura Incubation and PMO of PT Pertamina Persero Luthfi Romadhon.
According to Nurtami, the collaboration between the two institutions is a step to accelerate the growth of energy startupsin Indonesia. The collaboration program between Pertamina and Universitas Indonesia Directorate of Innovation and Science Techno Park, named Pertamina XScouts, is expected to be able to arouse the passion of UI innovators to bring their work that hasbusiness value, to grow into a national energy company.
Since 2016, said Nurtami, Universitas Indonesia has facilitated inventors with a business incubation program, which aims to validate inventions and market them through start-ups and licenses. During the 2016–2019 period, there were 144 inventions that were incubated by the Directorate of Innovation and Business Incubator (DIIB). “In 2020, this program was continued by Universitas Indonesia Directorate of Innovation and Science Techno Park and has incubated 22 startup companies,” said Nurtami.
There are several business incubation funding schemes from internal parties (Universitas Indonesia Directorate of Innovation and Science Techno Park) and external parties (private companies and state-owned enterprises) for researchers, lecturers, students, and Universitas Indonesia alumni. These various funding schemes are expected to develop knowledge and commercialize products simultaneously.
The Sub-directorate of Business Incubation helps lecturers and students commercialize innovation independently by setting up start-up businesses. The Business Incubation Sub-directorate also conducts various crowdfundingactivities and invites venture capitalists to invest their shares in startupsfostered byUniversitas Indonesia Directorate of Innovation and Science Techno Park.
To apply for business incubation funding toUniversitas Indonesia Directorate of Innovation and Science Techno Park, the proposer can provide a business proposal that will be selected. Furthermore, assistance is provided to determine the category of their business innovation. “If it is still an idea, their proposal is classified as aproblem solution fit (PSF). However, if they already have a product prototype, they can apply for funding under theproduct market fit (PMF) scheme. If they already have an established product and are ready to legalize their business, Directorate of Innovation and Science Techno Park will facilitate a scale upscheme. The incubation period is carried out as long as the business is running and all startups will be included in external funding programs from Universitas Indonesia,” said Gamal.
In addition to internal funding, innovators also have the opportunity to apply for external funding through the Pertamina XScouts program or PT Pertamina Persero’s Open Innovation Platform. Participants submit proposals through Universitas Indonesia Directorate of Innovation and Science Techno Parkto be further selected for the program. Luthfi as a representative of Pertamina explained that the Pertamina XScouts program is a collaboration between Pertamina and pioneering efforts to accelerate the growth of both parties through value creation programs in focused areas.
“Pertamina XScouts focuses on four areas: clean energy (NRE), electrification, petrochemical & derivatives (including non-hydrocarbons), and supporting technology (digital solutions),” said Luthfi.
In the XScouts program, there are two incubation pathways. First, businesses that already have tractioncan be submitted immediately. Pertamina is looking for innovative businesses, both from technology and business models, and can grow with Pertamina (partnership program). Second, you can submit proposals through a growth program—for startupsthat want to grow with Pertamina after going through the incubation program.
The growth program can be followed by businesses that still need validation. “Most importantly, business is not about what we can do. However, what problems exist in the field that can be solved by innovation. Because if we depart from what we can make, the business is only centered on vendoring,” said Luthfi
The form of collaboration between Pertamina and startupscan be in the form of innovative technology applications, channel to market expansion cooperation, access to expertise, and other business collaborations. Proponents of ideas in the business incubation program can check the Universitas Indonesia Directorate of Innovation and Science Techno Park website page (distp.ui.ac.id) for further terms and conditions. By becoming one of the partners in the program that has been launched since September 2021, Universitas Indonesia is expected to be able to present Indonesia’s superior innovators who are able to contribute to the country.
Writer: Vinny Shoffa | Editor: Sapuroh
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