Pertamina CoRE ITB, a business incubation program run by state-owned oil and gas firm Pertamina and Bandung Institute of Technology (ITB), has given birth to as many as 40 energy-focused startups.
The program provided mentoring support to help budding entrepreneurs develop business ideas in 9 specific energy-related categories, namely: GIS and Geospatial Analysis, Smartgrid, Strategic Management, Energy Efficiency, Energy Transition, Energy Management, IoT, Bioenergy and Transportation Energy.
As many as 306 students participated in the program, which later establish 40 startups, comprising 55 percent app-based ventures, and 45 percent product-based ventures.
The program helped the participants through a number of phases, including team formation, ideation, prototype development and business modelling.
“We hope that each of the participants will be able to highlight the next steps for young entrepreneurs in the energy sector after successfully navigating the idea and prototype phase,” says Pertamina new ventures project team Sr Officer Yuda Yushendri.
Twelve of the best startups were then given the chance to present their ideas to a panel of innovation experts on the final day of the 10-week program.
The 12 finalists are Ecostepping, Greenlane, Biomate, Seaboost Tech, Agroflash, Refive, Kelp Me, Alga-e, Opet Tech, Ecolements, Roast Relief and Debel.
ITB has a strong record of producing top startup founders. Some of its most prominent graduates in the startup scene are Bukalapak co-founders Achmad Zaky, M. Fajrin Rasyid and Nugroho Herucahyono.