SK Innovation E&S backs Indonesia’s next startup wave in AI, energy and agriculture

Audio report: written by reporters, read by AI

JAKARTA, Indonesia — What if you could determine, in advance, the most optimal soil for cultivating fruit? What if a single spray could extend the shelf life of apples by 10 days?

These were just a few of the startup ideas awarded at the MAJU:ON Final Demo Day, an entrepreneurship support program backed by SK Innovation E&S, held on May 21 at the Garuda Spark Innovation Hub in Jakarta, Indonesia.

SK Innovation E&S launched the MAJU:ON project in 2025, attracting 270 startup teams from eight universities across Indonesia. Over the course of 10 months, 130 selected teams received support from SK to transform their entrepreneurial ideas into viable ventures. And out of that group, only the top 10 teams were invited to the final event, where five teams received awards.

Gisact, the top-prize winning startup, showcased its “Spatial Data Insight Platform” which analyzes complex geographic information from disaster response to agriculture to support pivotal decision-making. The platform can monitor soil conditions to determine the most suitable areas for crop cultivation, while also providing real-time insights into how land conditions shift during floods and other natural disasters.

The second prize went to Aigra, a startup that developed an AI system that monitors storage conditions to prevent post-harvest losses and agricultural product spoilage.

Life Guards received the third place with its coating spray made from discarded potato starch that extends the freshness of fruits and vegetables for more than 10 days.

The top three teams shared a total prize of $8,000 and earned an opportunity to visit Korea for networking engagements with Korean startups. The first-place team also received an additional $4,000 award from Indonesia’s Ministry of Energy and Mineral Resources (MEMR).

“MEMR is deeply grateful for SK Innovation E&S’s longstanding commitment to cultivating the next generation of leaders in Indonesia’s energy sector,” Dr. Ir. Hariyanto, head of the planning bureau at the ministry, said during the event. “We hope greater opportunities will emerge for young entrepreneurs driving innovation across the energy industry, and we remain committed to providing sustained support in the years ahead.”

Participants will also be given opportunities to secure investment through one-on-one matchmaking sessions with leading Indonesian venture capital firms. Following a qualification review, selected startups will be eligible for interest-free loans of up to 20 million won ($13,000).

Indonesia, the world’s fourth-most populous country with more than 280 million people, is widely regarded as a dynamic young nation, with a median age of around 29. Yet the country continues to face structural gaps in its entrepreneurial ecosystem, particularly in access to startup infrastructure and early-stage funding. 

Against this backdrop, SK Innovation E&S and ESG solutions firm UD Impact have launched the project to help bridge these shortcomings.

Building upon energy as a key pillar of Korea–Indonesia cooperation, the two companies plan to launch the second cohort of the program in September, with an expanded effort to recruit and support a greater number of young entrepreneurs.

“Through the MAJU:ON Project, we witnessed the boundless potential of Indonesia’s young entrepreneurs,” said Shon Dong-kun, President Director of SK Innovation E&S, adding that he hopes the initiative will serve as “a bridge connecting the industrial ecosystems of Indonesia and Korea.”

SK’s latest MAJU:ON Project arrives at a particularly consequential moment for Indonesia, whose once-booming startup ecosystem has been mired in a prolonged downturn following the spectacular collapse of eFishery. The aquaculture technology startup, which was once hailed as one of the country’s unicorns with a valuation exceeding $1 billion, ultimately unraveled amid allegations of large-scale accounting fraud. 

The scandal marked a watershed moment for Indonesia, as the government now avoids using the word “unicorn,” and abandoned its previous strategy of channeling disproportionate resources into a handful of high-profile startups. Instead, it has pivoted toward a broader cultivation model aimed at fostering a wider pool of promising early-stage ventures with long-term growth potential.

“The MAJU:ON project was warmly embraced because it delivered two things Indonesia needs most at this moment: entrepreneurship education and AI training for young founders,” said Kim Jeong-heon, CEO of UD Impact.

Indonesia also reiterated its belief that the country could serve as a “test bed” for Korea in the energy sector to combine the complementary strengths of the two economies.

While Korea remains resource-poor despite its technological prowess, Indonesia possesses vast energy reserves but continues to seek advanced industrial expertise. In fact, SK Innovation has steadily expanded its footprint across Indonesia’s strategic industries, starting in 2006 when the company invested in the Tangguh Gas project, from which it continues to import liquefied natural gas through long-term supply agreements.

In 2025, SK secured development rights to three Indonesian energy blocks — Serpang Block, Binaiya Block and North Ketapang Block — through a government-led bidding process.

“Korea has lots of advanced technology, especially in the energy sector, and we would like to endorse them to test the technology in Indonesia,” said Hariyanto.

“Indonesian energy is more than 50 percent imported, especially for oil, and that’s why now the government is trying to find the availability of energy supply itself,” he added. 

BY SARAH CHEA [[email protected]]