SK Innovation E&S Leads Innovation in Indonesia's Startup Ecosystem for Youth
Jakarta, Indonesia - SK Innovation E&S leads innovation in Indonesia’s startup ecosystem for youth through comprehensive and practical mentoring.
SK Innovation E&S announced the ‘MAJU:ON Final Demo Day’ held on May 21 at the Garuda Spark Innovation Hub in Jakarta. The ‘MAJU:ON’ programme, launched by SK Innovation E&S in Indonesia last year in collaboration with UD Impact, a solutions company, supports youth entrepreneurship in the energy and environmental sectors. The Demo Day served as a platform for first-round startups to present their work.
The event featured addresses from key stakeholders, expert lectures on energy transition and artificial intelligence technology, business model presentations from 10 startup teams, an award ceremony, and one-on-one investment consultation sessions with venture capitalists.
Over 200 attendees included senior officials from Indonesia’s Ministry of Energy and Mineral Resources (ESDM), Investment Coordinating Board (BKPM), Ministry of Cooperatives and Small and Medium Enterprises (UMKM), Ministry of Communications and Digital Affairs (KOMDIGI), the South Korean Embassy in Indonesia, representatives from eight regional universities, and ANGIN (Angel Investment Network Indonesia), the country’s largest angel investor network.
Dr Ir Hariyanto, Head of the Planning Bureau at the Ministry of Energy and Mineral Resources (ESDM), said: “We highly appreciate SK Innovation E&S’s significant contribution in nurturing future leaders for Indonesia’s energy sector. We hope more opportunities will arise for young entrepreneurs driving innovation in the energy industry, and we will continue to provide support.”
Winners were selected based on expert jury evaluations and virtual investment simulations by attendees. Five teams were chosen as winners, comprising three main winners and two special award recipients. During the investment simulation, attendees allocated virtual funds to teams they wished to support based on their presentations.
First-place winner GISACT attracted attention with its spatial information platform supporting optimal decision-making through geographic data analysis, covering areas from disaster management to agriculture. Judges praised GISACT for its unique technology and competitive edge over existing solutions.
GISACT received a $4,000 cash prize. Second-place AIGRA, which presented an AI-based system to prevent agricultural spoilage, and third-place Lifeguards, introducing technology to extend the freshness of fruits and vegetables, received $2,500 and $1,500 respectively. Special award winners Aruponic and WearaTech, along with other winning teams, will participate in a Korea-Indonesia joint conference scheduled for September. Additionally, subject to feasibility checks, they may secure interest-free loans up to 20 million KRW through a joint fund established by UD Impact and ANGIN.
Anjar Dimara Sakti, CEO of GISACT, said: “The MAJU:ON programme enabled us to turn ideas into real businesses. I hope this experience becomes a turning point that takes our business to the next level. We extend our deepest gratitude to all parties supporting Indonesia’s young entrepreneurs in achieving their goals and realising dreams of entering global markets.”
Over the past 10 months, SK Innovation E&S has identified and mentored approximately 130 teams and over 460 young entrepreneurs in Indonesia’s energy and environmental sectors through MAJU:ON. In August, the company signed memoranda of understanding with eight regional universities, recruited participants, and delivered a four-week entrepreneurship support programme. In November, it hosted a business idea hackathon competition. The top 10 selected teams received intensive startup and management training and engaged with Indonesian government officials and industry experts during “Networking Day” events.
SK Innovation E&S positively assessed the MAJU:ON programme’s results and plans to continue supporting Indonesian youth entrepreneurs with a second round in the future.
Shon Dong-Kun, Head of SK Innovation E&S Indonesia, stated: “Through MAJU:ON, I have witnessed the boundless potential of Indonesia’s young entrepreneurs. I hope this programme serves as a bridge connecting Indonesia and Korea’s industrial ecosystems.”
SK Innovation has long invested in Indonesia’s industries, including energy and natural resources development. Notably, in 2006, the company invested in the Tangguh gas field and has since imported Indonesian-produced LNG under long-term contracts.