Commitment to Support Start-up, Pertamina Hosts Pertamuda: Seed & Scale Up 2024

Jakarta, August 15, 2024 - PT Pertamina (Persero) returns to organize the "Pertamuda Seed and Scale 2024" business idea competition for students from public and private universities across Indonesia. This event marks the fourth Pertamuda, with the Open Call/participant registration from August 15, 2024, until October 18, 2024, through the www.pertamuda.id website.

Pertamuda is a business idea competition organized by Pertamina to promote student advancement in Indonesia. The event aims to expand SDGs and innovation implementation in the energy sector and encourage Indonesian start-ups to grow while providing access to capital.

Vice President of Corporate Communication of PT Pertamina (Persero), Fadjar Djoko Santoso, stated that Pertamuda 2024 is expected to create new job opportunities through youth-led programs. It is part of Pertamina's efforts to support the growth of young talent in building Indonesia.

"Through Pertamuda, we hope to gain fresh ideas and innovations, particularly in the renewable energy field. With programs driven by the younger generation, we also aim to create job opportunities in Indonesia," Fadjar explained.

Fadjar added that Pertamuda Seed and Scale 2024 also encourages start-ups in Indonesia to grow their businesses and provides opportunities for student start-ups to gain access to capital.

"Through Pertamuda, students could submit innovative business ideas, particularly in the energy sector, that have the potential for commercial development. In addition, Pertamina offers technical support, mentorship, and development funding to participants who make it to the Top 3," he said.

With the theme "Energizing Tomorrow's Innovations," Pertamuda Seed and Scale 2024 features two competition categories: Early Stage Start-ups and Energy Founder. The Early Stage Start-ups category is for business ideas with initial business traction, focusing on SDGs values. The Top Three Early Stage Start-ups will receive development funding of IDR 100,000,000 each to prepare their businesses for the scale-up stage. Additionally, the universities or incubators supporting the Top 3 Early Stage Start-ups will each receive mentoring funds of IDR 25,000,000.

The Energy Founder category is for founders with ideas focused on problem-solving in the energy sector. The Top Three Energy Founders selected will receive development funding of IDR 35,000,000 each to realize their business ideas in a paper-based validation (Problem Market Fit on Paper). This category will first conduct online elevator pitching in October 2024.

Pertamuda 2023 successfully attracted 2,719 participants from 32 provinces. The number of Pertamuda participants in 2024 is expected to increase because this year's competition is expanded to include students from D1, D2, D3, and S1 educational programs.

Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social & Governance (ESG) implementation across all Pertamina's business lines and operations.**