Written by Student Reporter, Elisabeth Sirumapea (Management 2020)
Thegreaterhub incubator SBM ITB presents 15 startups at an internal business pitching event in Bandung on December 6, 2019. Thegreaterhub SBM ITB as an initiator revealed that the background of this annual activity was based in order to bring together startups that needed funding with 8 Venture Capital.
The activity that enters this third time is itself made in the format of “Business Pitching” by bringing together the best startups that have passed the selection with investors so that the startup is expected to develop more quickly.
The activity which is located at Thegreaterhub Incubator SBM ITB 4th floor was opened by Dr. Dina Dellyana as Director of Thegreaterhub SBM ITB and Prof. Dr. Ir. Sudarso Kaderi Wiryono DEA as the Dean of SBM ITB.
SBM ITB Dean, Sudarso K. Wiryono said this activity provided pitching opportunities to 15 early-stage startups which were the current tenants of the Greater Hub 2019 incubation program. SBM-ITB also invited 8 Venture Capital (VC) as an assessment team and 15 startups assisted by SBM- ITB will be presenting.
“This startup is the chosen tenant of a total of 35 startups who underwent an incubation program,” he told reporters at The Greater Hub Incubator, SBM ITB Campus, Bandung City, Friday (6/12/2019). Soedarso said this activity was also a networking event between fellow startups and VCs and one of the forms of collaboration with institutions in developing the entrepreneurship ecosystem.
“Meanwhile, for the incubators as an initial step of evaluation so that the deficiencies can be identified and immediately corrected”, he added. He also said that suggestions or criticisms from various parties, especially VC and investors and other institutions were needed to build the startup.
Then the program continued with the main event, which was the pitching session of 15 startups that had passed the selection where they would be given five minutes for pitching and five minutes for questions and answers with Investors.
“Out of 33 startups incubated, 15 of the best early growth stage startups were selected with futuristic ideas in providing business solutions for Indonesia, among others from the EdTech, Internet of Things (IoT), BioTech, Healthtech, and e-commerce categories,” said Dina Dellyana.
The 15 startups are E Eduka System, Ecoplast, HEARO, Hear Me, Cryptoscope, Agritama, Dentco, Sportigo, Focuson, Dilelangaja, Wise Waste, Dosoon, Hi-Den, Angkoters, dan Chatbiz.
“I am happy to be able to join this event because I can learn for pitching and can hear ideas from other tenants whose ideas are insightful,” said Nabila as a representative of Startup Agritama.
Meanwhile, investors from 8 Venture Capital (VC) who attended the event were Alpha Momentum, Everhaus, Salim Group, UMG Idealab, Ideo Source, Angel.id, Emera Kapital, and GFC (Global Founders Capital).
“As for the VCs, there is a focus on seed funding to series A. While seed funding usually includes financing from 1-5 billion rupiahs, pre-series A between 5 billion rupiahs to 1 million dollars, and series A 1 million dollars and above,” said Dina
“Even if there will be tenants who feel they don’t get positive feedback, then feedback will be received to improve it in the future and keep the spirit to run their business,” said Tiara as one of the representatives of 8 venture capital,
About Thegreaterhub SBM ITB is a business incubator unit initiated by the School of Business and Management (SBM), Bandung Institute of Technology (ITB) for ITB students in particular and Bandung young generation in general in physical form (workspace and manufacturing space) and non-physical (planned incubation, acceleration and skills development programs). Thegreaterhub SBM ITB itself was established in 2016 and has incubated 81 SBM ITB startups.
Visit our site www.thegreaterhub.id and get the latest information on Facebook (@Thegreaterhub) and Instagram (@thegreaterhub) fan pages.