Boosting The Number Of Young Entrepreneurs, LPDP Releases Business Competition Program 2023

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA The Education Fund Management Agency (LPDP) officially launched a new program titled LPDP Business Competition 2023 as a form of increasing the number of entrepreneurs in Indonesia.

LPDP President Director Andin Hadiyanto said this competition helps increase human resource capacity as well as become a meeting point for a new entrepreneurial ecosystem.

According to him, the more entrepreneurs in Indonesia, the greater the opportunity to create innovation and new jobs and improve people's welfare.

"In turn, it can also create a'melting pot' consisting of an entrepreneurial community, incubators, accelerators, and investors in Indonesia, both private and public sectors," he said in a press release today, Monday, May 15.

Andin explained that the 2023 LPDP Business Competition targets to grow the seeds of 5,000 young Indonesian entrepreneurs. He said, there are two business categories held in the LPDP Business Competition, namely the Business Initiation Plan and the Business Growth Plan.

Meanwhile, the Business Initial Plan category is intended for entrepreneurs who have ideas or business plans and have implemented them for a maximum of two years. This category is open to entrepreneurs who have only run their business for less than two years. High school/vocational/vocational/equivalent students can also follow this category.

Meanwhile, the Business Growth Plan is intended for entrepreneurs whose business sector has been running for more than two years and has the potential to develop more. Participants in this category are also asked to show their clear and detailed business and growth strategy.

This LPDP Business Competition is wide open to the public. Awardee and alumni who receive LPDP scholarships, high school/vocational/ma/equivalent students, students, and the public can also participate in this competition," he said.

On the same occasion, LPDP Scholarship Director Dwi Larso revealed that currently Indonesia needs entrepreneurs whose business is based on opportunity base, namely businesses supported by technology, knowledge, capital aspect networks, and human resources.

"Improving the number of exportunity base-based entrepreneurs is very important because it contributes to Gross Domestic Product (GDP) per capita," he said.

Dwi said new economic growth centers must be created outside Java if they want the country to become developed. This is where the role and spirit of entrepreneurship from educated circles is needed, college graduates, vocational schools, polytechnics, academies, or communities.

The entrepreneurs who created these new businesses that we actually call economic democracy. Do not let the economy only be controlled by a handful of people, but can spread more evenly," he stressed.

Registration for the 2023 LPDP Business Competition is open from 2-31 May 2023 on the condition that you register yourself or with a team with a maximum of three members. Procedures, requirements, registrations, and provisions for the 2023 LPDP Business Competition can be seen by visiting the LPDP official website.