ACCURACY OF STUDENT’s BUSINESS IDEAS, IPMI & INNOVESIA LAUNCHES INNOLAB

Jakarta, 21st February 2020 – IPMI International Business School keep pushing the creativities and innovation of the students through business incubation that will curate the startup ideas from the students maximally.

“The students of IPMI has been equipped with the successful business knowledge since setting foot in the IPMI Campus. Therefore, IPMI International Business School collaborates with Innovesia in developing an innovation and incubator center named Innolab,” said the Chairman of IPMI International Business School, Prof. Aman Wirakartakusumah, at the signing of Memorandum of Understanding between IPMI and Innovesia on Friday, February 21st 2020, at Puridani, IPMI Campus, South Jakarta.

Innovesia’s Co-Founder & Partner Danny Kosasih said, Innovesia is a startup and corporate accelerators whose aim was to create solutions and innovations. “Innolab was established as a ‘center of excellence’ in developing the capacities and competencies of students, lecturers, communities, SMEs & companies, and government agencies in developing innovation,” he said.

Danny explained that Innolab can be used as a forum and laboratory for curating business ideas, research, experiments, and exploration which are facilitated by the latest technology based on the 4th Industrial Revolution. With InnoLab, it is expected that startups can develop innovations to the fullest that can provide positive changes to the surrounding environment.

Prof. Aman added, in addition to upholding the Tri Dharma of Higher Education, namely Education, Research, and Community Service, IPMI is also committed to prioritizing the principle of Research by presenting InnoLab which would be a medium for the IPMI academic community for research and development. IPMI is also committed to strengthen the network in the industry (local and multinational) and Local Governments (Pemda) in Indonesia and deliver it to the market during the post-incubation period.

“This is the commitment of the IPMI International Business School as a Higher Education institute to contribute to the achievement of the Sustainable Development Goals (SDGs),” he added.

Currently the Indonesian government is actively supporting technology startups as part of national economic development strategies and plans. The Indonesian government believes that technology startups can increase employment, enlarge the market, and enhance the application of technology in Indonesia. The inauguration of “Making Indonesia 4.0” by the Ministry of Industry is a step to strengthen the Industrial Revolution 4.0 (IR4) in Indonesia. The Ministry of Industry has compiled a roadmap that has been prepared as a basis for all interests, especially for the industry players to increase and reap the benefits of using IR4 in Indonesia.

However, based on several studies, the success rate of technology startups is quite low. Most struggle to survive when they enter the incubation stage. Barriers faced by startups include access to capital networks, technology adoption, market absorption, mentor quality, and investor interest. Based on a survey conducted by Innovesia in 2018 of 42 startups in Indonesia, it was found that most technology incubators did not provide IR4 technology, as well as the lack of provision of IR4 technology in government or laboratory facilities.

Most of the IR4 technology is used in companies and universities. Therefore, University-based technology incubators need to provide information, education, experienced mentors, and facilities or equipment that can support startups during the incubation process.