Many startup businesses have emerged recently. However, more than a few startup businesses fail to survive. So, how can a startup business be sustainable? The Managing Director of Angel Investment Network Indonesia (ANGIN), David Soukhasing, explained the factors for building a sustainable startup business. One factor to consider is creating value for customers.
“Important factors for building a sustainable startup include focusing on creating value for customers, maintaining financial health, and integrating sustainability into the business model,” he explained in the Build Sustainable Startup Businesses session at the MBA Catalyst Summit 2024 held at the UGM Campus Auditorium in Jakarta on Thursday (18/7).
David also emphasized the importance of startups avoiding risk zones and areas of business operations with a high risk of failure or financial loss. This can be done by building strong governance and solid business processes.
Meanwhile, Mithondo, the director of operations at Komatsu Astra Finance, shared his experience in the corporate and startup environment. He emphasized the role of business development in achieving sustainability and growth.
“It is important to use various existing innovations to stay competitive,” he said.
The event, organized by the MBA Student Association UGM in cooperation with the Student Committee Magister Management FEB UI, featured three seminar sessions. The first session was Economic Outlook & Managing Investment in Indonesia, presented by Chief Economist & Div Head Debt Research BRI Danareksa Sekuritas, Helmy Kristanto, and Economic Analyst at Indonesia Stock Exchange (IDX), Anita K. Zonebia. Helmy provided an economic overview, discussing macroeconomic factors such as interest rates, inflation, the impact of Indonesia’s fiscal sustainability, and investment opportunities in developing sectors. He also highlighted the importance of understanding risk and mitigation strategies when investing. Meanwhile, Anita discussed the impact of these economic conditions on the Indonesian stock market and the importance of strategic investment planning.
Next, in the second session, “How AI Transforms Business,” Dharma Simorangkir, President Director of Microsoft Indonesia, and Dr. Deny Rahardjo, Group CIO at Sime Darby Berhad, shared insights on the transformative power of AI in business. Dharma highlighted four key opportunities for using AI: enriching the employee experience, renewing customer engagement, transforming business processes, and accelerating innovation. He provided examples of how AI is applied across industries and its potential to drive economic growth. Dr. Deny discussed practical applications of AI across industries, emphasizing the importance of AI skills in the workforce and how AI can improve operational efficiency and customer satisfaction.
The third session on “Building Sustainable Startup Businesses” featured the Managing Director of Angel Investment Network Indonesia (ANGIN), David Soukhasing, and the Director of Operations at Komatsu Astra Finance, Mithondo. Earlier, the Director of MM FEB UGM Jakarta Campus Program, Prof. Dr. Edardus Tandelilin, said that the MBA Catalyst Summit 2024 activities aimed to establish networking and collaboration among participants from different regions in Indonesia.
Reportage: Adella Wahyu Pradita
Watch the full video at https://youtu.be/BSNfpwQIDro
Sustainable Development Goals
