Accelerating BSD City innovation, Living Lab Ventures to launch International Landing Pad
JAKARTA - Living Lab Ventures (LLV), corporate venture capital (VC) under Sinar Mas Lang, collaborates with the government of New South Wales (NSW), Australia, to introduce International Landing Pad in order to boost start-ups and companies from both countries to launch global expansion.
According to the press release today (12/9), it is mentioned that the partnership will make way for LLV’s portfolios that aim to branch out to Sydney, NSW, through providing local market knowledge and networking opportunities.
“On the other hand, LLV will also support companies from NSW looking to enter Indonesian market,” said the management of LLV.
In response to this, Bayu Seto, Partner of LLV, believes that collaboration and adoption of innovation from other countries is a way to promote acceleration within the country, especially in BSD City.
Until now, as a corporate VC under Sinar Mas Land, LLV has indeed directed its focus to drive the economic potential of BSD City, an integrated city that has become a business pillar through PT Bumi Serpong Damai Tbk (BSDE). The effort has been emphasised following a Special Economic Zone status held by BSD since last May.
According to Mulyawan Gani, Chief Transformation Officer of Sinar Mas Land, in order to keep BSD City relevant with the current trend, there must be acceleration in innovations through the birth of ecosystems from various sector that will enhance the quality of life of BSD City.
“BSD is also sizable enough, and there is the appetite to accept new innovations,” added Gani during Media Briefing LLV H2 2024 Outlook today (13/9).
On the same occasion, Seto then reveals that the sectors highlighted by LLV in H2 2024 are digital, education, and medical sector. “They will fill in the gap in innovative capability,” he said.
In 2024, Seto also said that LLV plans to bring in three companies to Indonesia. “Our target is bringing, at least, another company to Indonesia in order to fill in the capability gap through job vacancy, and hopefully then, transfer knowledge,” he added.
According to Seto, LLV has managed to secure two investments from Australian companies, and is currently under preliminary discussion with another in Sydnet.
On the other side of this partnership, Yonathan Wijaya, Trade and Investment Director for Indonesia at Investment NSW – Austrade, expressed his vision of improved business relation between Indonesia and Australia through this International Landing Pad.
“We realise that within the next 5-10 years, Southeast Asia, particularly Indonesia, will become a major force. In order to stay relevant, Australia must also keep relevancy in Indonesia,” added Wijaya on the same occasion today (12/9). (ZH)
