The programs strengthen the renewable energy's growth, as startups that are incorporated in the company's incubation and acceleration program will also get a chance to accelerate its business development. Advantages include business networks expansion, increase in business capability, 1: 1 mentoring, and new access to other funding sources
March 26, 2020. By News Bureau
Following the launch of the New Energy Nexus Indonesia Incubation Batch 1 program in 2019, New Energy Nexus Indonesia has introduce the Batch 2 of the incubation program and the first acceleration in 2020. These selected companies will enable the startup ecosystem to grow in the renewable energy sector they are working in.
The programs strengthen the renewable energy's growth, as startups that are incorporated in the company's incubation and acceleration program will also get a chance to accelerate its business development. Advantages include business networks expansion, increase in business capability, 1: 1 mentoring, and new access to other funding sources.
Six startups with a diverse renewable energy category have been selected and joined the New Energy Nexus Incubation and Acceleration program. Two of them are incorporated in the Incubation program, with a focus on Internet of Things (IoT) & Digitalization and Energy Access, while 4 startups with a focus on Energy Efficiency, Clean Energy, and Business Model Innovation, have been selected to enter the Acceleration program. These startups will also receive coaching along with $4 million seed round to help get their products and services to market.
Since 2018, 19 startups have participated in the Nexus New Energy incubation and acceleration program, resulting a cohort of 6 startups who are graduated from the incubation program in November 2019, including Sylendra Power, Forbetric, Warung Energi, Pendulum, and Bionersia. Their success will be followed by Vena Energy, Swadesi Surya Persada (SUPER), Chakra Giri Energi Indonesia, Enertec Mitra Solusi, Energi Persada, RESCO Sumba, as well as former incubation program graduates who are planning to enter the acceleration program, Forbetric and Warung Energi.
"We've got tremendous support in the inclusion of New Energy Nexus incubation program, especially in executing the product testing, such as the Forbetric's incremental product. We unveil our iteration process to conduct the smart socket solutions that will help with the energy efficiency and management. Here, New Energy Nexus is providing us with additional facilities to help us promoting our new tech-solutions for our target market, that include IoT and user-friendly mobile app," said Hasna Bachtiar, Chief Financial Officer of Forbetric.
New Energy Nexus incubation and acceleration program is open at any time for renewable energy startups, focusing on 10 renewable areas. They include Renewable Energy, Smart Grid, Energy Efficiency, Energy Management, Customer Experience, E-Mobility, Business Model Innovation, IOT & Digitization, Energy Access and Energy Storage.
"New Energy Nexus Indonesia is an organization that has the desire to participate in accelerating the application and use of renewable energy in Indonesia. Our efforts are mainly focused in the incubation, acceleration and startup funding programs that are engaged in the renewable energy sector," said Diyanto Imam, Program Director of New Energy Nexus Indonesia. These initiatives align to the government's commitment to increase the renewable energy share in the national energy mix to 23% by 2025.
"Through this incubation, acceleration and funding program, New Energy Nexus Indonesia is committed to continuing the creation and development of dynamic, competitive and scalable renewable energy startups in Indonesia," Diyanto added. All programs in the New Energy Nexus Indonesia are also supported by the Ministry of Energy and Mineral Resources. Collaborative activities are held frequently to foster a robust growth of renewable startups' ecosystem in Indonesia.
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