Mandiri Establishes Business Incubators to Promote Entrepreneurship

Jakarta, 3 October 2014 – Bank Mandiri has established a business incubator center to help develop entrepreneurship in Indonesia by providing a supportive environment in which young entrepreneurs can develop their businesses.

The business incubator was inaugurated by ​​Minister of State Enterprises Dahlan Iskan and BankMandiri CEO Budi Gunadi Sadikin in Jakarta on Friday. During the first stage, the business incubator program will be participated in by 14 finalists from the Mandiri Young Entrepreneur (WMM), Mandiri Young Technopreneur (MYT) and Mandiri Bersama Mandiri (MBM) programs between 2012 and 2013.

Budi G. Sadikin said that the molding of successful entrepreneurs required a favorable supporting environment, including mentoring and coaching in accordance with the specific type and characteristics of each business, and an introduction to venture capital financing sources.

“That’s what encouraged us to develop the Mandiri Business Incubator. Through this incubator program, we want to create a good ecosystem for fostering and mentoring entrepreneurship and developing networks among young entrepreneurs so as to help them compete at the regional and international levels,” Budi said.

As part of the business incubator program, which runs for six months, the participating young entrepreneurs receive training on branding, operational standards, tax, intellectual property, marketing and business models. In addition, evaluation and mentoring is conducted on their business concepts, development, operations and management.

Mentoring is provided by senior businesspeople that have the necessary capacity and reputation. This is expected to help motivate and guide young entrepreneurs so that they can manage and grow their businesses.

In addition to serving as a center for the provision of training, the Mandiri Business Incubator also provides a means through which alumni from the Mandiri Young Entrepreneur Young Entrepreneur can develop their business networks.

“The above activities are aimed at increasing the sales of participants. Based on the monitoring and evaluation carried out from the beginning of the program, we have found that some participants have managed to increase their sales by up to 300%,” Budi said.

To participate in the Mandiri Business Incubator program, young entrepreneurs should register in December 2014 through the Bank Mandiri website.

The Mandiri Business Incubator is one of the Bank’s efforts to foster entrepreneurship among the younger generation. Bank Mandiri has staged the Mandiri Young Entrepreneur competition since 2007. This program has helped change the way students view entrepreneurship, has made the MSME sector a more attractive place to work and has improved the quality and quantity of small enterprises.

When the program was first rolled out in 2007, the number of participants stood at 488 from 18 colleges. By 2013, this figure had shot up to 6,745 participants from 516 colleges around the country.

“We are optimistic that this will help to further inspire our young people to become job creators so as to help grow the Indonesian economy in a better direction,” Budi said.