In the Industry 4.0 era, the business and industrial climate has become more competitive due to advancements in information technology. The limited ability of Micro, Small, and Medium Enterprises (MSMEs) to adopt information technology is caused by a lack of understanding of its strategic role and insufficient support from the government and an unsupportive environment. Cross-sector collaboration, such as the Triple Helix Model, can help MSMEs navigate digital competition by enhancing innovation, efficiency, and performance.

“Industry 4.0 marks a shift toward a more competitive business and industrial climate, accelerated by advancements in information technology. The Internet of Things (IoT), as a key driver, offers significant potential to improve business performance and streamline production and marketing processes,” said Ricky Aditya.

Ricky, a master’s student in Administrative Sciences at the Faculty of Administrative Sciences, Universitas Indonesia (FIA UI), shared these insights during the 2023 Management Competition organized by UPN Veteran Jakarta, held from September 9 to November 9, 2023. Ricky secured first place in the competition.

According to Ricky, implementing IoT in MSMEs can enhance production capacity, reduce production failures, and accelerate business processes. However, adopting this technology requires collaboration between the government, academia, and the private sector, aligning with the Triple Helix concept.

“Through the Triple Helix Model, the government can provide supportive regulations, academia can offer skills training, and the private sector can deliver financial support. This collaboration is expected to accelerate MSME development in the digital competition era,” he said.

Ricky emphasized that IoT represents a new paradigm that transforms traditional processes by simplifying operations. It holds significant potential to improve business performance, save time, and enhance quality of life. However, implementing IoT comes with risks, making continuous improvement through the Triple Helix collaboration essential for MSME development.

“The implementation of IoT programs using the Triple Helix Model can save time and costs, accelerating MSME development in Indonesia. As the number of growing MSMEs increases, Indonesia’s economic stability will automatically improve,” he explained.

To win the competition, Ricky conducted extensive research using academic journals and news sources. This research helped him construct the theoretical framework connecting the Triple Helix variables. Despite his busy schedule as a graduate student at FIA UI and a working professional, Ricky managed to balance his time effectively between studying and participating in the competition.

“Time management was definitely a challenge, but I did my best, and it paid off because I believe hard work never betrays results. There are no age or time limits to achieving success—anyone can excel as long as they have the will and ambition,” Ricky concluded.