Jakarta, 8 April 2022, PT XL Axiata Tbk (XL Axiata) is holding the "Smart Capital Competition 2022" through the Sisternet program in partnership with XL Axiata Business Solutions. The event, which was held in March to honor International Women's Day, aimed to boost productivity and expand the number of female micro, small, and medium companies (MSMEs) through sound business and financial management. No less than 350 participants competed in the competition, which was held in phases starting in January 2022 and offered a total reward of Rp. 150 million in cash.
Lenny N. Rosalin said that, “The Ministry of PPPA appreciates the execution of the 2022 Sisternet Smart Capital Competition. This competition aims to encourage productivity and increase the business scale of women micro, small and medium enterprises (MSMEs) through business management, including in capital and financial management. The Smart Capital Competition's presence is a good first step in igniting the excitement and drive of women MSMEs to be self-sufficient and competitive in expanding their business scale."
Dian Siswarini said, "This year, there are more and more MSME participants participating in this competition and are more diverse and creative. With the business capital we provide through the Sisternet Smart Capital Competition 2022, we hope that participants will dare to move up their business/business level, allowing their business expansion to grow even further and opening up opportunities for them to go global by marketing their products to foreign countries via digitization. At the same time, thousands of other women MSME players around Indonesia are being encouraged and motivated. XL Axiata Business Solutions also supported the event by training participants on how to survive the pandemic shift to endemic in the spirit of assisting to drive digital transformation, particularly in the MSME segment. We hope that in the future, MSMEs can grow even faster, of course with the digital solutions we have.”
The committee performed an initial selection of 25 individuals from the 350 who had enrolled. Those that pass this step will participate in Sisternet's one-month business management incubation and mentoring program. Following that, 11 finalists with the finest business concepts will be chosen to compete in the final round in front of the jury. The finalists are MSME players from Jakarta, Semarang, Sidoarjo, and Surabaya who work in diverse business categories including as food and beverage, fashion, and beauty and skincare.
The jury consisted of the Assistant Deputy for Gender Mainstreaming in the Economy, Ministry of Women's Empowerment and Child Protection of the Republic of Indonesia, Eni Widiyanti, Group Head Solution Architect XL Axiata, Aun Abdul Wadud, and Director of Business Incubator - The Greater Hub ITB, Dina Dellyana. The winners of 1, 2, 3, 4 and 5, respectively, are entitled to a business capital of Rp. 45 million, Rp. 35 million, Rp. 30 million, Rp. 25 million, and Rp. 15 million. In addition to the business capital prize from XL Axiata Business Solutions, all winners will also receive a special XL Biz On product from XL Axiata Business Solutions. BIZ On is the first prepaid starter pack in Indonesia that offers direct GoPay cashback for users. In addition to providing direct cashback, BIZ On also provides special conference quota benefits, unlimited calls to fellow XL & Axis which can increase business productivity of business players.
The winner's assessment criteria include the business model, namely the maturity of the business design, the accuracy of the target, and how realistic it is to achieve. Furthermore, there is also the aspect of product innovation which concerns the uniqueness of the product or service and how far it can compete and adapt quickly to the market. Aspects of financial management, such as having financial planning and management, as well as having a level of understanding of business management that can grow sustainably.
Then there's marketing strategy, which includes content preparation that's both creative and inventive, as well as the use of digital/technology both online and offline. Finally, there's the issue of social impact, which includes the effects of business on the environment and the community.
The Sisternet Smart Capital Competition is a continuation of the Sisternet Smart Webinar Festival program which took place in December 2021. The competition is open to SMEs that have signed up for the Sisternet program. Currently, Sisternet has more than 45 thousand members who are women MSME players. Sisternet is also a Best Practices Women's Empowerment initiative in the Women 20 & G20 EMPOWER group, which raises the problem of women in the G20 Indonesia 2022 Presidency. Sisternet supports W20 Indonesia by hosting W20 SISPRENEUR, a business management incubation class aimed at helping MSMEs women go global, with a total prize pool of Rp. 300 million and business advice from worldwide MSME specialists. Participants can register via Sisternet Apps which can be downloaded through google play store and apple app store.
Smart Capital Competition 2022 Winner
Yuria Ekalitani, a businessman from Semarang who processed marinated beef sticks known as Bosteak, took first place out of the 11 contestants. The business capital prize of Rp 45 million will be used to revitalize industrial equipment in order to meet production capacity and market demand, finance research and development of new products to increase business scale and purchase raw materials for operations and reach a wider target market.
Ade Sri Ishak, a flourless cake entrepreneur from Jakarta who runs the company Goodiebake, took second place. The Rp 35 million business capital prize will be utilized to renovate the kitchen in order to increase production capacity.
Third place was won by Divanda Gitadesiani, the owner of the Klei & Clay business from Jakarta. The Rp 30 million cash prize will be utilized to develop the latest natural skincare products, increasing customer retention and expanding the target market.
Fourth place was won by Theresia Laras Wigunani, the owner of the Namu Coffee House business from Surabaya. The Rp 25 million cash prize will be used for marketing costs associated with collaborating with Key Opinion Leaders (KOLs) to launch new products in order to increase brand awareness and sales, as well as costs associated with short barista courses aimed at deepening knowledge and preparing for new product research and development.
Meanwhile, the winner of the Fifth Place from Sidoarjo was won by Fathiya Multazam, the owner of the Pathi's Chocolade business. The capital prize of Rp 15 million will be used for Production Kitchen Renovation and Store Development so that it can increase production capacity, branding and trust from customers.