SK Innovation E&S said Wednesday that it held a networking event in Jakarta to support Indonesian startups in the energy and environmental sectors.
The Maju On Networking Day, held at the South Korean Embassy in Indonesia, brought together about 60 participants, including hackathon winners, investors and officials from Ministry of Energy and Mineral Resources of Indonesia (ESDM), Indonesia Investment Coordinating Board (BKPM), Ministry of Micro, Small, and Medium Enterprises of Indonesia (UMKM), representatives from eight leading universities, and private-sector investors.
Launched last year, the Maju On project provides startups with support across the business development process, including idea development, training, networking and access to investment.
At the event, SK Innovation E&S appointed mentors and program ambassadors and introduced participating teams. GISACT, the grand prize winner of the program’s hackathon, presented its business model, which uses artificial intelligence and satellite data to analyze land use and develop environmental solutions.
SK Innovation E&S said it plans to select two to three teams for seed funding to support commercialization. The selected teams will also be invited to pitch to venture capital investors at a demo day scheduled for May.
The company also plans to expand cooperation between South Korea and Indonesia by establishing a joint investment fund and hosting joint conferences for young entrepreneurs.
"The Maju On project aims to support the development of Indonesia’s startup ecosystem in the energy and environment sectors," an SK Innovation E&S official said. "We will continue to create future growth engines based on close cooperation between the governments, universities and industries of both nations."
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