During the inaugural, ASEAN-India Start-up Netra from Indonesia was crowned as the winner beating 200 others after pitching its concept to investors, venture capitalists, and a panel of government officials.
Netra is a space technology start-up that offers satellite-based internet of things (IoT) connectivity and application services. It aims to overcome challenges in the fishery and mining sectors by applying sophisticated technology to digital transformation.
In his remarks, Deputy Secretary-General for ASEAN Economic Community Satvinder Singh noted that “ASEAN Secretariat acknowledges the key role of start-ups to our economic recovery and as the catalyst for economic growth in the region. Technology start-ups specifically attract talent, and funding, catalyse local innovation, and most importantly create jobs.’’
In her remarks, Nur Tri Aries Suestiningtyas, Executive Secretary of BRIN, who is also the Indonesian Committee on Science, Technology, and Innovation (COSTI) Chair, stated that the pandemic has forced people to be innovative in solving problems. According to her research and innovation, especially in start-ups and small and medium enterprises, may assist in bolstering the economy.
Over 239 start-ups exhibited their technological solution, 60 of which were start-ups from across ASEAN and India. 12 ASEAN and Indian start-ups then advanced to the Pitch Battle on the third day of the festival. Netra (Indonesia); Xfinito (India), SPIKE Architechions (Thailand); NovoEarth (India), and ELSA Corp (Viet Nam), were the top five start-ups that walked away with prize money totaling US$ 7,500, supported by the ASEAN-India Science Development Fund.
According to the judges, the competing start-ups showcased technological solutions with various products ranging from healthcare and education to space technology with competitive business models. Judges also agreed that the pitched battle shone a spotlight on the promising start-ups, and opened many doors for collaborations while at the same time enriching the budding entrepreneurs’ experiences.