Universitas Gadjah Mada (UGM) has proudly clinched an A-ranking in the Incubator Award 2023, a distinguished accolade bestowed by the Ministry of Cooperatives and Small and Medium Enterprises.
The Incubator Award 2023 event, a pivotal initiative of the government, sought to amplify the role of incubator institutions in tandem with the fortification of regulations for business incubation outlined in the Job Creation Law of 2020.
This initiative was further reinforced by the issuance of Government Regulation No. 7 of 2021 and Presidential Regulation No. 2 of 2022, focusing on Entrepreneurship Development.
The awards serve as a tangible expression of recognition for incubator institutions that have adeptly nurtured and shepherded budding entrepreneurial tenants and startups, guiding them to grow into robust economic entities.
Conducted on Dec. 9, 2023, in Jakarta, the award ceremony was graced by the presence of Arief Sudarsono from the UGM Directorate of Business Development, who accepted the honor.
During this momentous occasion, Siti Azizah, the Deputy of Entrepreneurship at the Ministry of Cooperatives, underscored incubator institutions’ pivotal role in realizing the target growth of new entrepreneurs and startups.
Dr. Hargo Utomo, the UGM Director of Business Development, elucidated that the award symbolizes public acknowledgment of UGM’s pivotal role in fostering the startup ecosystem.
UGM’s journey in nurturing the startup economy commenced with the Innovative Academy program in 2014.
“In the future, UGM will consistently elevate its role as an incubator,” affirmed Dr. Utomo.
He emphasized UGM’s unwavering commitment to continually refine the facilitation of startups, enabling them to fortify and expand their enterprises through the Innovative Academy.
This dedication is bolstered by financial support from the Asia Development Bank in the Promoting Research and Innovation through Modern and Efficient Science and Technology Parks (PRIME STEP) Project, spanning until 2027.
Furthermore, Dr. Utomo disclosed that in 2023 alone, UGM concluded incubation activities for approximately 66 startups, with 35 advancing to the acceleration stage.
“With this prestigious accolade, we aspire to further ignite the spirit and performance of the Innovative Academy, propelling the progress of the startup ecosystem in Indonesia, particularly within the vibrant landscape of UGM,” he said.
“Looking ahead, our vision encompasses the anticipation that, within the next five years, a startup from UGM will successfully secure funding from investors, elevating its business valuation to attain the status of a series startup.”
Author: Ika