In an effort to accelerate progress toward an advanced Indonesia, increasing the number of entrepreneurs is crucial. The more entrepreneurs in the country, the greater the opportunity to create new jobs and improve public welfare. As a result, universities are being encouraged to contribute to fostering a supportive entrepreneurial ecosystem—not only for students and academic communities but also for the general public.

With this in mind, the Faculty of Administrative Sciences, Universitas Indonesia (FIA UI), through its Laboratory for Studentpreneur and Co-Creation (LSCC), in collaboration with Orbitin.id, organized the Young Entrepreneurs Challenge (YEC) 2023, a business idea competition aimed at empowering Indonesia’s youth.

YEC is an annual business competition dedicated to building a comprehensive, integrated, modern, and adaptive entrepreneurial ecosystem aligned with developments in the digital age.

“Today, October 28th, marks Youth Pledge Day, a fitting occasion to highlight the contributions of YEC participants who will shape the future by creating job opportunities. These young entrepreneurs are pioneering business ideas today that could grow into future startups. This year, we have significantly more participants than last year, and we hope to continue this program in the years to come,” said Dr. Fibria Indriati Dwi Liestiawati, S.Sos., M.Si., Vice Dean for Education, Research, and Student Affairs.

The 2023 YEC adopted the theme “Young Entrepreneurs in the Digitalization Era: How to Develop Ideas and Innovate.” Beyond the competition itself, YEC also provided mentoring and training to both students and the general public, guiding them to identify and develop business ideas suited for the digital age.

The program aims to foster a competitive spirit among young people, encouraging them to generate creative and innovative ideas that respond to today’s business challenges. YEC also offers participants the opportunity to transform their business ideas into professional ventures through mentoring by practitioners and academics.

In collaboration with professionals from Dibimbing.id and PT Orbitin Kebanggaan Indonesia, YEC hosted an entrepreneurship webinar for the 193 business teams registered for YEC 2023 on September 1, 2023. Additionally, on October 14, 2023, YEC partnered with FounderPlus to provide a business pitch workshop for participants.

The competition was open to students and the general public (aged 30 years or younger) and began in August 2023. Out of 193 registered teams, 178 teams submitted business proposals, categorized into digital and non-digital sectors. Digital proposals included ideas for digital startups, websites, applications, marketplaces, digital advertising, online services, and financial technology. Non-digital proposals covered areas such as food and beverages, agriculture, creative industries, tourism and culture, services and trade, manufacturing and applied technology, and health-related ventures.

The Final Business Pitch and Awarding Ceremony took place in a hybrid format on Saturday, October 28, 2023, with an in-person event at Universitas Indonesia’s campus and an online broadcast via Zoom Meeting.

The final pitch session featured business practitioners and academics as judges, including representatives from PT Orbitin Kebanggaan Indonesia, Binus University, Belmawa Kemendikbud Ristek, and the CEO of FounderPlus, who evaluated and provided feedback on participants’ business presentations.

The culmination of YEC 2023 was the announcement of the winners, with FIA UI offering a total prize pool of IDR 45,000,000. Awards were presented in three categories: Digital Business, Non-Digital Business, and Favorite Poster (Social Media Choice).

In the Digital Business category, Team South Vision from PKN Stan and Universitas Indonesia claimed first place with their business Taxpoint, a platform providing tax consultation and management through a mobile application. Second place was awarded to Team Highfive from Universitas Indonesia and Universitas Gunadarma for their Parentings business idea. Third place went to Team AJP Pride from Universitas Pelita Harapan, Universitas Padjadjaran, and Universitas Sriwijaya for their Anti Mophila concept.

In the Non-Digital Business category, first place was secured by Team Purify+ from Institut Teknologi Sepuluh Nopember (ITS) in Surabaya with their business idea—a device to improve indoor air quality for families. Second place went to Team Ecomusa from Universitas Sumatera Utara, while third place was awarded to Team Nusantara Foodie from Universitas Indonesia for their Kimiepul business idea.

“We extend our gratitude to everyone who collaborated with FIA UI to make YEC 2023 a success—from Kemendikbud Ristek, PT Orbitin, FounderPlus, Universitas Bina Nusantara, and LSCC FIA UI. Congratulations to all the winners from various universities. The presence of finalists from diverse regions reflects the enthusiasm and commitment of Indonesia’s youth. For the 40 finalists who competed today—whether you won or not—you are all remarkable for standing out among more than 100 business proposals submitted. Congratulations once again, and see you at YEC 2024,” said Novita Ikasari, M.Comm., Ph.D., Head of the Business Administration Department at FIA UI.