BUMN Startup Day 2022: Synergy between Startup Actors and BUMN in Encouraging Mutual Growth

Taking the moment of accelerating economic recovery, BUMN Startup Day 2022 was born as an initiative of the Ministry of BUMN to bring together and strengthen the synergy between BUMN (which operates in various sectors and industries) and startups that are known to be agile and observant in utilizing technological developments. This event will be held on 26-28 September 2022 at Hall 3A ICE BSD City, South Tangerang.

The program organized by the Ministry of SOEs is considered very important for founders of Indonesian start-ups to seek business opportunities, increase knowledge, as well as expand networks. This event is also open to students and the community to take advantage of these many benefits.

BUMN Startup Day 2022 will present a different agenda than startup activities in general, by opening up investment opportunities and business partnerships between BUMN and startups directly. In addition to panel discussions, exhibitions, rapid mentoring, and investor pitching, there are business matching sessions where startups and SOEs from various industrial sectors can explore business partnerships with each other, such as co-creation, co-branding, joint marketing, etc.

As previously stated by SOE Minister Erick Thohir on August 23, 2022, Indonesia's digital economy is estimated to grow to IDR 4.818 trillion by 2030. Currently, Indonesia ranks fifth with the largest number of startup companies in the world by printing 2.346 startups. It is in this digital economy landscape that startups play an important role, starting from providing digital solutions for daily needs, creating jobs, and encouraging the achievement and competitiveness of Indonesian technology.

Therefore, SOE Minister Erick Thohir continues to encourage the transformation of SOE business, especially through digitalization which is a must. BUMN has taken a strategic decision to enter the startup ecosystem by forming a subsidiary of BUMN engaged in venture capital. This is none other than because SOEs recognize startups as important actors in the future economy.

The Ministry of SOEs has identified the potential of the digital economy and startups. The Ministry has established five (5) VCs under BUMN, namely Mandiri Capital Indonesia (MCI), BNI Ventures, BRI Ventures, MDI Ventures (under Telkom), and Telkomsel Investment Partners (TMI), followed by a number of programs such as workshops to capture the potential of Indonesian startups. The five venture capitalists have invested in a total of 136 startups. So this time, the Ministry is holding BUMN Startup Day 2022 to bring together all potential SOEs with the Indonesian startup ecosystem.

This activity will be divided into two major segments, namely education and business opportunities. In the education segment, there will be panel discussions with international speakers and mentoring which will give Indonesian startups the opportunity to have intense discussions with successful startup actors and investors.

The panel discussion at this event featured speakers from within and outside the country, such as Patrick Walujo (Co-founder & Managing Partner of Nortstar Pacific), Wilson Weather (Co-founder & Managing Partner of East Ventures), Jessica Tanoesoedibjo (Managing Director of Motion Technology), Abheek Anand (Managing Director of Sequoia Southeast Asia), Tito Costa (partner at Global Founders Capital - GFC), and many more. At the event rapid mentoring, participants can directly discuss with Indonesian startup leaders who have advanced and received funding from investors.

Meanwhile, in the business opportunity segment, there is business matching, or exploration of B2B collaboration, which brings together SOEs from various sectors and industries with startups to explore business collaborations, as well as investor pitching which gives startups the opportunity to offer investment opportunities to VCs within SOEs.

This two-day event is intended for startups that have entered the early and growth phases because in this phase startups need support not only for investment, but also managerial skills to maintain the momentum created from previous growth phases. As a complement, it will also discuss interesting topics such as talent management, strengthening company fundamentals, to the role of women in the startup landscape in Indonesia. You can find more information about BUMN Startup Day 2022 visit on this page.