Heaptalk, Jakarta — Sinar Mas Land’s investment arm, Living Lab Ventures (LLV), announced its strategic affiliation with the Japan External Trade Organization (JETRO) to establish the Japanese Incubation Center at BSD City, Tangerang.
In more detail, these entities have determined to incubate Japan’s potential startup, Spatial Pleasure, which is expected to be a game changer by integrating their technological innovations into the daily lives of society around this city.
Responding to this collaboration, Senior Director of JETRO Jakarta, Kentaro Machii, revealed, “This collaboration is a significant effort for JETRO to promote open innovation between Japan and Indonesia. We will continue collaborating with Sinar Mas Land through its investment arm, Living Lab Ventures, to empower startups in Japan to innovate in the Indonesian market. For this reason, we are enthusiastic about forming this new synergy as we observed that sustainable technological enhancement contains tremendous potential in the BSD City.”
As a part of the cooperation output, Spatial Pleasure, the early Japanese startup incubated under JETRO, will operate in BSD City, carrying out its expertise in Science-Based Targets (SBT) and carbon credit certification to encourage innovation and sustainable development.
This technology is claimed to be the city’s most needed element to reduce carbon footprints and optimize sustainability values in establishing Transit Oriented Development (TOD).
In this strategic collaboration, Living Lab Ventures becomes the official go-to-market partner in BSD City, specifically for startups participating in the JETRO program. This move is a part of this investment firm goal to inject strategic funds to incubate and expedite global-minded Indonesian digital entrepreneurs while also penetrating the investment network in a more comprehensive market. From now on, LLV company intends to broaden its business reach by establishing a new office in Japan to back JETRO as its business partner.
“We look forward to this strategic cooperation being the opening gate for our collaboration with diverse business and entrepreneurial models from other Japanese startups. In this collaboration, we provide funding with workspace availability to simplify startup founders to observe directly, and the technology can be immediately implemented in Sinar Mas Land’s township. Hence, the presence of the Spatial Pleasure startup would optimize research and performance to advance this township in reinforcing bilateral economy improvement between Indonesia and Japan,” The Partner of Living Lab Ventures, Bayu Seto, said.
As additional information, JETRO is a Japanese government organization that promotes trade and investment relations between Japan and other countries. At the end of 2022, the JETRO survey showed that around 73% of Japanese companies in Indonesia projected profitability in 2023. This estimation is claimed to be higher than projections in Thailand and Vietnam, influencing Japanese companies to invest in the archipelago.
