Four Tenants of IPB Science Techno Park make the Ministry’s Top 20 Startup Pitches
Four tenants of IPB University’s Science Techno Park (STP) make the Top 20 Startup Pitches of the Indonesian Ministry of Research, Technology, and Higher Education (Kemenristekdikti) in cooperation with the Association of Capital Venture for Indonesian Start Up (Amvesindo). The selection process of the Top 20 Startup Pitches was held in Jakarta, on Monday, 18th of November 2019. This event was organized as an effort to bridge the meeting between startups and investors. The collaboration of Kemenristekdikti with Amvesindo is seen as a strategic momentum to enliven investments for startups and technology-based starter companies, known as PPBT, in Indonesian STPs.
The selection process consisted of an evaluation of 11 parameters related to Investment Readiness. As many as 112 startups have gone through this evaluation process and only 20 startups under STPs guided by Kemenristekdikti were determined to be eligible for the next stage, which is a meeting with the Investment Committee. The 11 parameters evaluated consisted of potential of idea; corporate set up; market size and opportunity; competitive advantage; quality; team skills and diversity; product and service maturity; executable business plan; financial robustness; potential of investment, exit strategy and probability; and governance and risk.
Deva Primadia Almada, The Head of Business Sub-Directorate, STP IPB University, conveyed that four tenants of IPB University’s STP has made the Top 20 Pitches. They were Planteria – CV Inovasi Anak Indonesia; PT FITS Mandiri; PT Interstisi Material Maju; and PT Berkah Inovasi Kreatif Indonesia. In his welcoming speech, Patdono Suwignjo, the General Director of Science and Higher Education Institutions of the Indonesian Ministry, conveyed that this initiation was an early effort to evaluate preparations of startups to aim for seed capital to then continue to top tier funding. Suwignjo also mentioned that the chosen startups will be further selected to leave only 10 which will be brought together with capital ventures either from local or international sources in the coming March 2020. STP and their tenants’ works are aligned with IPB’s university slogan of “inspiring innovation with integrity”.
Published Date : 27-Nov-2019
Resource Person : Patdono
Keyword : STP IPB, venture capital, start up, business