NEXSPACE Competition Again Held, Instilling Entrepreneurs' Mindset And Mentality

JAKARTA - After successfully holding its first NEXSPACE acceleration program last year, 11th Space as a startup accelerator with IdeaFest again held its second year of its annual business competition program. This year the competition has a theme and will be held on September 29 - October 1, 2023 at the Jakarta Convention Center (JCC) Senayan.

NEXSPACE itself was created as a forum for startup and business founders to compete while building networks as well as accelerating, even the three best businesses have the opportunity to get angel/pre-seeded round funding of up to hundreds of millions for their business.

This year's theme is Building a Legacy. We want to instill a mindset and mentality that building startups and businesses is no longer just looking for a quick way to succeed by getting funding, but startup players also need to think about how to build a sustainable business from year to year, even become a legacy (legacy) and which has a social impact on our lives," said Wanyi Pratiknyo, Managing Director of 11th Space, quoted from a media statement, Thursday, August 10.

11th Space targets hundreds of startups and businesses to participate and register through a registration link available on NEXSPACE's Instagram account before September 2, 2023. Of all registrants, they will be screened and follow three stages. The first phase will filter up to 120 participants who will take part in the Road to NEXSPACE 2023 mentoring program for two days from Haloka.

Phase two, will be selected to become the 45 best participants, until the third stage which will later choose the three best businesses that won the NEXSPACE 2023 competition. "The three best startups will have the opportunity to get investments of up to hundreds of millions, according to the series of due diligence results carried out after the NEXSPACE program is completed," added Wanyi.

This year NEXSPACE together with Haloka focused on finding startups and conventional businesses that have been operating for at least 1 year and a maximum of 3 years to participate in this program, which is engaged in the Consumer Goods & Services (B2C / D2C) industry, Consumer Media & Entertainment, Manufacture (B2B), Beauty and Wellness (including Healthtech), Emerging Tech (AI, AR, VR), and we are still opening up opportunities for other industries as well.," said Stephanie Regina, Founder of Haloka Group, who became the Lead Community Partner this year.

"We hope that NEXSPACE 2023 will find startups and businesses with the best talents and potential in Indonesia, because the concepts and programs will be more interesting, also challenging, so that founders will get a more intense one-on-one mentoring experience from mentors that we have curated exclusively, several keynotes and workshop sessions, as well as pitching in front of investor panels," added Stephanie.

Other criteria for participating in the NEXSPACE 2023 event are that startups and businesses have never received funding from any capital venture, and businesses that are already profitable or towards profitable.