Pertamina Pertamuda Business Idea Competition Participated by 3,245 Entrepreneurial Students

Jakarta, October 23, 2024 – Thousands of students from various regions across Indonesia have registered as participants in the Pertamuda Business Idea Competition organized by PT Pertamina (Persero). It reflects the high enthusiasm of students building businesses through the fourth year of Pertamuda: Seed & Scale.

The registration, from August 15, 2024, to October 21, 2024, has attracted 3,245 students from 696 public and private universities in Indonesia. The top 10 universities with the most participants include Universitas Gadjah Mada, Universitas Hasanuddin, Universitas Brawijaya, ITB, ITS Surabaya, Universitas Padjadjaran, Universitas Diponegoro, Universitas Indonesia, Universitas Telkom, and Unair Surabaya.

Vice President of Stakeholder Relations & Management at Pertamina, Rifky Rakhman Yusuf, explained that Pertamuda 2024 is the fourth sequel of the competition. Year by year, student enthusiasm for participating in Pertamuda has increased, as shown by the growing number of registrants.

In 2021, the number of participants reached 2,025, increasing to 2,445 (2022), 2,719 (2023), and 3,245 in 2024.

“The number of applicants for Pertamuda 2024 surged compared to the previous year. The high number of participants in this competition demonstrates the strong interest from students in building startup businesses,” Rifky said.

Pertamuda, also known as Pertamina Muda - Seed & Scale, is a competition organized by Pertamina to gather startup business ideas from students to focus on various sectors that align with the economic, social, and environmental pillars of the Sustainable Development Goals (SDGs).

Pertamuda has two categories: Early Stage Startups and the Energy Founder category, which encourages innovative business ideas in the energy sector. For Pertamuda 2024, 2,438 students registered for the Early Stage Startups category, while 807 students joined the Energy Founder category.

Vice President of Corporate Communication of Pertamina, Fadjar Djoko Santoso, added that Pertamuda Seed and Scale is one of Pertamina's commitments to support startup development in Indonesia. This event also reflects the synergy between industry players and universities in achieving sustainable innovation.

“Pertamina has continuously collaborated with universities, whether through educational programs, support for facilities and infrastructure, human resource development, and more. We believe that universities play a critical role in shaping the next generation of the nation’s builders,” said Fadjar.

With the registration now closed, the Pertamuda competition enters the curation phase. Selected participants will participate in Demo Day, final pitches, and business matching sessions with 20 potential investors and prominent business partners.

Ultimately, the competition will award three top innovations from each category, receiving a total prize of over IDR 500 million, scholarships to join a six-month business academy program, and one-on-one mentoring for three months.

“The Pertamuda event serves as a communication bridge between Pertamina and the academic community, particularly students, while encouraging innovation in sustainable energy,” Fadjar added.

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.**