Jakarta, March 12th 2021, PT XL Axiata Tbk (XL Axiata), through the Sisternet program, collaborated with Bank OCBC NISP to organize a “Smart Capital Competition” in commemoration of International Women's Day. This competition aims to boost productivity and increase the level of women micro, small and medium enterprises (MSMEs) through good business management, including capital and financial management. No less than 250 participants took part in the competition which took place in stages since the end of December 2020 and provided a total prize of capital for Rp 100 million.
XL Axiata Group Head of Corporate Communications, Tri Wahyuningsih, said, "We together with the Ministry of Women Empowerment and Child Protection of the Republic of Indonesia and Bank OCBC NISP have the same commitment in advancing Indonesian women's MSMEs to be better. Through the Sisternet smart capital competition program, we hope that the participants can increase the level of their business so that their business expansion can be more developed and the turnover is even greater, and at the same time encourage and motivate thousands of other women MSME players who spread throughout Indonesia. "
Meanwhile, Business Incubation Lead of Bank OCBC NISP, Altona Widjaja said, “Indonesia is listed as one of the countries with the largest women entrepreneurs in the world. Data from Bank Indonesia shows that more than 60% of total MSMEs in Indonesia are run by women entrepreneurs. The data also shows that MSMEs managed by women have more stable financial performance, with lower Non-Performing Loan and better financial discipline. However, the room of improvement is also large, especially related to financial management, business networks and knowledge to develop the sustainable business.
Altona Widjaja added that Bank OCBC NISP wants to play a bigger role in contributing to the women economy in collaboration with the Sisternet community to empower women entrepreneurs to take a bigger role in the economic, social and environmental sectors. This is in line with our commitment to carry out responsible banking. With a solution that is more than just financial support (beyond banking).
Of the 250 participants who registered, the committee made an initial selection to select 25 participants. Those who pass this stage then take part in a business management incubation program for one month. The next selection selects 10 finalists with the best business ideas, who will take part in the final round in front of the jury. The finalists are MSME players from various business fields from Jakarta, Probolinggo, Bogor, Bekasi, Sidoarjo, Surabaya and Bali.
The jury consisted of Deputy Assistant of Gender Mainstreaming for Economic Sector of the Ministry of Women Empowerment and Child Protection of the Republic of Indonesia, Eni Widiyanti, Group Head Sales Medium Enterprise of XL Axiata, R. Wicaksono, and Business Incubation Lead of Bank OCBC NISP, Altona Widjaja. The 1st, 2nd, and 3rd winners, respectively, are entitled to a venture capital of Rp 35 million, Rp 30 million, Rp 25 million. The social impact favorite winner gets Rp 10 million in business capital. All winners will also get special products from XL Business Solutions in the form of XL Go and XL Biz Staterpack.
The criteria for the winners assessment includes the business model, namely the finalization of business design, the accuracy of target, and how realistic it is to be achieved. 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. Financial management aspects, including the level of understanding of business management that can grow sustainably, as well as having financial planning and management.
Then there are also aspects of marketing strategy, including creative and innovative marketing planning in terms of content, as well as the use of digital / technology online and offline. Lastly, the aspect of social impacts, including the impact of the business on the environment and surrounding communities.
The Smart Capital Competition is a continuation of the Sisternet Smart Webinar Festival program which took place in December 2020. The participants of the competition are also MSMEs players who have joined the Sisternet program. Currently, Sisternet has more than 30,000 members who are women MSME players. Through the Sisternet application, they get various educational materials regarding business management, including in utilizing digital means. The Sisternet application can be downloaded via the Google Play Store and Apple App Store.
Winners of Smart Capital Competition
Of the 10 finalists, the first winner was Yessie Natasia Mareti from Surabaya, who has a convection business "Fashionistas". The prize of Rp 35 million that she won will be used to update and re-launch the Fashionistas website, increase production quota so that they can continue to work with small convection producers MSMEs, and increase advertising costs on social media which, according to her, are very useful in driving sales.
The second winner was Siti Nur Seha, a collagen beverage entrepreneur Shaany from Probolinggo Regency, East Java. The business capital prize of Rp. 30 million will be used to complete BPOM and MUI Halal certifications in order to increase customer confidence in Shaany products. In addition, Siti is also preparing a special collagen drink product for the elderly that can improve bone and joint function. The existence of this product is expected to expand Shaany's market share, among the millennials and elderly.
The third winner was Dianisa Rizkika, from South Jakarta, owner of a handicraft business called "Bloomster". The capital prize of Rp. 25 million will be used to develop the business by building a qualified production site, more raw material stocks, and complete tools. She also wants to take part in florist training, as well as improve her skills in marketing strategy. Currently, Bloomster is preparing an exclusive Eid hampers product in collaboration with the cookies online shop.
Meanwhile, the winner in the Social Impact category with a capital prize of Rp. 10 million was achieved by Ritza Laksita Candra from Sidoarjo having a business named “Jiva”. This MSME is engaged in the beauty sector, with the services products in the form of handmade soap or artisan soap. The social impact she has successfully built is using basic ingredients such as cocoa butter from local farmers to produce qualified products. Now, Ritza is trying to handle the brand, licensing, and legal while looking for ideas and knowledge for other products that can provide good benefits for its customers.