On this occasion, the Chair of ITB LPIK Ir. R. Sugeng Joko Sarwono, M.T., Ph.D., signed a joint memorandum of understanding or MoU with the delegates invited to the event. The partnership covers several points including the creation of a sustainable global startup ecosystem, support for localization of startup companies, and business matching collaborations as well as a commitment to build infrastructure that can help market exploration whilst securing local partners in the startup launch process.

The Chair of LPIK was also accompanied by Aprillia Annisa as the Business Incubator Manager of LPIK ITB whose duty was to attend the entire event series and also give institutional presentations.

"Through this event, many opportunities for collaboration will open, not only specifically for ITB LPIK in startup development, but also for the development of ITB Innovation Park and ITB in academics in a broader field of entrepreneurship," Joko Sarwono said in a release received by ITB Public Relations.

Through this meeting, several participating partner institutions had similarities in business development such as tunneling starting from the pre-incubation and incubation processes, and several others, especially from Brunei and Malaysia, were interested in discussing further about the commercialization and downstream systems implemented at ITB LPIK.

The 2023 ASEAN-Korea Startup Builder Summit was initiated by NEXT Challenge Asia Ventures, a non-profit business accelerator institution accredited by the Ministry of SMEs and Startups of Korea, and Reactor School, which is an entrepreneurship education institution for young students under 30 from Singapore.

CEO of Next Challenge Foundation Kim Young-rok stated, “We support the vitalization of the startup ecosystem through the operation of acceleration, mentorship, and recruitment programs not only based on domestic startups but also global startups. The Global Startup Builder Summit will be a platform that will have an impact on global expansion, especially in the creation and development of startup ecosystems."

In its inaugural implementation, the event was aimed to unite coaching institutions in the field of entrepreneurship and startup development. The 10 major ASEAN countries, Korea, Singapore, the Philippines, Malaysia, Thailand, Vietnam, Laos, Cambodia, Brunei and Indonesia, each participated in sending their delegations.

The agendas for this meeting were presentations by each institution for introductions and sharing institutional roadmap information for the next 2-3 years as well as offers and opportunities for partnership that can be collaborated, and the signing of the MoU.

Source: ITB LPIK
Reporter: Adi Permana
Translator: Hanna Daniela Ayu (Aerospace Engineering, 2021)