SK Innovation E&S supports young entrepreneurs in Indonesia

Son Dong-geun, front row fourth from left, president director of SK Innovation E&S, poses with participants of a networking event at the Korean Embassy in Jakarta, Indonesia, Wednesday. Courtesy of SK Innovation E&S

SK Innovation E&S said Wednesday that it hosted a networking event at the Korean Embassy in Jakarta to celebrate the company’s MAJU:ON project, launched last year to support young entrepreneurs in Indonesia’s energy and environmental sectors.

According to the energy affiliate of SK Group, the project drew applications from more than 220 teams last year. Of those, 127 teams were selected for a four-week training program that led to a hackathon in November, where the top 10 teams were chosen to attend the latest networking event with policymakers and investors.

The Korean firm said two to three outstanding teams will receive funding and take part in a Final Demo Day event scheduled for May, giving them the opportunity to pitch their ideas to venture capital firms.

During the networking event, hackathon winners gave presentations and joined a panel discussion on Indonesia’s policy directions in line with the U.N. Sustainable Development Goals, the importance of nurturing young entrepreneurs and strategies to tackle social and environmental challenges.

GISACT, the hackathon’s grand prize winner, introduced a solution platform that uses artificial intelligence to analyze satellite data and recommend optimal land use strategies.

“The MAJU:ON project creates new opportunities for Indonesian youth and contributes to the nation’s sustainable growth by fostering an innovation ecosystem in the energy and environmental sectors,” an SK Innovation E&S official said.

“We will continue developing future growth engines and take the lead in realizing global social value through close collaboration with the Korean and Indonesian governments, universities and industries.”