New Collaboration Between NUS and ITB: Strengthening Innovation and Entrepreneurship

Bandung, lpik.itb.ac.id – On May 31, 2024, Bandung Institute of Technology (ITB) and the National University of Singapore (NUS) officially signed a Memorandum of Understanding (MoU) aimed at promoting collaboration in research and development. This cooperation includes several key initiatives designed to enhance the exchange of technology and entrepreneurship between the two countries.

This MoU covers three important points regarding the programs to be implemented by ITB and NUS. First, there is an agreement regarding the provision of scholarships to selected ITB students to participate in the NUS Enterprise Summer Programme in Entrepreneurship and other entrepreneurship programs. This scholarship provision scheme is reciprocal with a "1+1" term, where one full scholarship provided by ITB will be matched with one full scholarship by NUS.

In addition, NUS and ITB will collaborate in organizing the Winter Programme in Entrepreneurship, which aims to enhance technological, social, and cultural exchange. This program is designed to change mindsets and accelerate the translation of ideas into real solutions, as well as provide a platform for students to network and collaborate further.

Another initiative is ITB's participation in the annual innovation conference, InnovFest x Elevating Founders, organized by NUS Enterprise. This conference aims to foster startups and promote entrepreneurship in the Asian and global regions by bringing together innovation and entrepreneurship ecosystems from all over the world.

LPIK ITB's Participation in InnovFest x Elevating Founders

In line with the mission of the agreed MoU, several programs have been initiated and were already running previously, such as ITB's participation in InnovFest x Elevating Founders. This is the second time ITB has participated as an exhibitor in the event, represented by LPIK ITB.

InnovFest x Elevating Founders is a prestigious event held as part of the AsiaTechXSingapore exhibition. The agenda, which took place from May 29-31, 2024, provided a platform for startups from various universities and institutions to showcase their innovations and connect with potential investors and partners. Different from the previous year, this year, LPIK ITB also invited the ITB Innovation Park to the exhibition, jointly presenting six innovative ITB startups supported by the campus's incubation and acceleration programs. These startups are Curaweda, EBM Scitech, Greenlabs, Nasho, Bell Living Lab, and Prosa.ai.

The participation of ITB startups at InnovFest 2024 had a significant impact on the startups' business processes, highlighting the need for strong support from ITB and the Indonesian government. This support was evident from the visits by the Indonesian Embassy in Singapore, the Ministry of Tourism and Creative Economy, the Ministry of Industry, and the Ministry of Education, Culture, Research, and Technology to the ITB startup booth.

This support, for one, opened up opportunities for Curaweda, which had previously collaborated with the Kasepuhan Palace (Keraton Kasepuhan) in Cirebon, West Java, Indonesia, in a pilot program to digitize the palace's operations using SaaCE (Software as Core Ecosystem). The Minister of Tourism and Creative Economy of the Republic of Indonesia, Sandiaga Uno, expressed his interest in Curaweda's efforts after visiting the ITB booth.

Besides participating in the exhibition, several startups were also given the opportunity by NUS Enterprise to present their businesses in front of venture capital firms. Curaweda's presentation at InnovFest attracted the attention of venture capital firms such as Appworks, Cocoon Capital, Living Lab Ventures, Maiora Capital, MSW Ventures, NZTE, Orvel Ventures, WOWS Global, and M Venture.

This collaboration between NUS and ITB is expected to drive the growth of innovation and entrepreneurship both in Indonesia and in Singapore in general, by providing opportunities for students and startups to develop through various international programs and conferences. This initiative also demonstrates the commitment of both institutions to strengthening the entrepreneurship and innovation ecosystem in Asia.