Investors and customers are increasingly interested in sustainable businesses, a sustainable business that is managed in an environmentally friendly manner and pays attention to natural and social sustainability. What are the challenges and opportunities of doing a sustainable business? Bintang Ekananda, Director & Co-Founder of Alner and Liris Maduningtyas, CEO of Jala Tech discussed this in the Road to I-SEA Cohort 2 webinar series with the topic “The More Sustainable, The More Chance a Business to Explore”.
Bintang said that before deciding to run a sustainable business, business founders must really finalize their strategy, look for real problems, find solutions and carry out in-depth research.
“For example, in the circular economy sector, waste processing, we look for what the real problem is and what our solution is to overcome. We must also be keen in our analysis so that when we consider the business model, we can be clearer about the business growth potential and income sources,” said Bintang, whose start-up is part of the first I-SEA cohort.
Liris added that a sustainable business is a business that targets or solves problems and aims to increase sustainability. For example, in the food industry, from a social perspective, there can be a continued improvement in terms of empowering fishermans and farmers. The application of ESG principles must also be considered, both from an environmental perspective, for example in terms of managing production waste, from a social perspective it can be related to providing employment opportunities for local residents, and good governance.
“But what also needs to be highlighted is that the business must be profitable. This also means business sustainability. It’s like, how are we going to help other people if our own business is not in a position to run?” Liris said.
To help sharpen strategies and measure the social impact of business, accelerator programs such as I-SEA can be the right tool. Bintang said, by participating in the I-SEA program for almost two years, Alner had the opportunity to have a thought partner who could see and accompany Alner’s business journey comprehensively.
“We got a Thought Partner from the IKEA Indonesia marketing team who provided a lot of insight regarding brand communications, launching strategies on social media. An expert partner like this is very suitable for us, who at that time were in the process of rebranding,” said Bintang.
Not only that, I-SEA also opened up opportunities for Alner to collaborate with Westibe, fellow participants in the first I-SEA cohort. Bintang also provided tips for social entrepreneurs who want to join the second cohort of the I-SEA program.
“To look at the website, pay attention to the criteria that they are looking for. See how it fits with what you’re doing, then formulate a proposal, but don’t make it fabricated. If something is unclear, you can directly ask the organizers or alumni. Just try it first!” Bintang suggested.
For those of you who want to register for I-SEA Cohort 2, click isea.instellar.id/register. Registration is extended until November 5, 2023.
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