Promote Sustainable Entrepreneurship in ASEAN
Korea-ASEAN Business Model Competition for SDGs 2023
BMC hosts and organisers
HSF
Hosted by the Ministry of SMEs and start-ups of the Republic of Korea and the Ministry of Cooperatives and SMEs of the Republic of Indonesia, the Korea-ASEAN Business Model Competition has been co-organised annually by Hanns Seidel Foundation Vietnam (HSF) and the ASEM SMEs-Eco-Innovation Center (ASEIC) since 2021 as part of HSF's regional ASEAN-wide project on Sustainable Production and Consumption. The competition is implemented by the Green Business Center, ASEAN-RoK Science and Technology Cooperation Center. This year, out of 259 competitive applicants from ASEAN countries, 10 start-ups made it to the Demo-Day in Jakarta. Prior to the Demo-Day, all 10 finalists were given intensive mentoring sessions conducted by leading experts in the region, which were designed to improve the teams’ pitching skills and access to finance.
Mr Michael Siegner - HSF's Resident Representative spoke at the BMC Demo Day
HSF
As Michael Siegner – HSF’s Resident Representative emphasized in his congratulatory speech, the young participants are not only entrepreneurs, but more importantly, sustainable, and progressive innovators. They are therefore the backbone in the process of achieving the Sustainable Development Goals and tackling the polycrisis of our planet in a holistic way - with innovation, passion, and sustainability. This is bringing great progress and hope in the fight against climate change and pollution, while stimulating entrepreneurship and creating jobs. An event like this, specifically designed to encourage young people to raise their voices and stand up for their ideas, creates a sense of solidarity. In this context, it is beneficial for networking and attracting potential investors. It also increases the spread and tangibility of green knowledge, which is crucial in the current deteriorating situation of the planet.
First prize winner - Plana
HSF
This year’s first prize was awarded to Plana, a Start-Up from Indonesia. Plana describes itself as a social enterprise revolutionizing plastic recycling. They recycle plastic with a mass production system, not by hoarding but by increasing the value of waste – by making Planawood, which consists of 60% rice husk, 30% Plastic Waste and 10% aditif. This Planawood can be used in construction for e.g. ceilings, walls or floors. It is multifunctional, as Plana, with their product, gives a halt to deforestation, removes plastic waste from landfills or oceans and, at the same time, rises the prosperity of local farmers.
The second place went to Lab SD, a Korean Start Up improving the digital eco-system for better eye health through upcycled smartphones. The company successfully defined the problem, that even though 90% percent of visual impairment or blindness are preventable, 90% of blindness-causing eye diseases are chronic. This is due to a shortage of health infrastructure and the lack of health human resources. Lab SD came up with the brilliant solution, of using upcycled smartphones for doctors to provide teleophthalmology services for people at risk of blindness in Vietnam, Morocco, and PNG. The diagnoses are further finalized by ophthalmologists stationed in partner organizations in India and Bangladesh. To this point, the Start Up diagnosed 37 000 patients and generated 3 Mio USD in funding.
The third place went to Entomal Biotech. SDN BHD. The Start Up from Indonesia uses black soldier flies, which they call “the nature’s best cleaner”, to generate wealth from waste through biowaste conversion plants. Therefore, the Start Up provides a multirange of services, including engineering consultations, equipment supply, and insect farms.