Registration for the Smart Energy Incubation Program will close in less than a week. This time, the New Energy Nexus team sits down for a conversation with the Program team—a dedicated department responsible for overseeing the entire startup development process, from selection and mentoring to post-program support. Startups selected for the Smart Energy program will work directly with the New Energy Nexus Indonesia Program team.
What should you prepare before registering your team for the Smart Energy Program by New Energy Nexus?
We recommend ensuring that all supporting documents, such as the Curriculum Vitae of the founders and co-founders, as well as the company profile and pitch deck, are complete. Take time to research tips online for creating a strong company profile and pitch deck, and explore templates used by successful startups. There are plenty of resources available on the internet. The key is thorough preparation.
Once you have gathered and refined these documents, you can proceed by filling out the form via the Submittables platform, which can be accessed at http://indonesia.newenergynexus.com/programs/.
What are the requirements to join the Smart Energy Program?
First, it’s important to understand what New Energy Nexus is looking for. New Energy Nexus focuses on clean and smart energy sectors, including renewable energy, smart grids, energy efficiency, energy management, customer service, e-mobility, business model innovation, IoT & digitization, energy access, and energy storage.
Your startup concept may fall into more than one of New Energy Nexus’ focus areas. What matters most is that the idea you present is relevant and clearly defined.
Participants must also be at least 18 years old at the time of registration.
When is the Smart Energy Program typically open for registration?
The registration period for the Smart Energy Program opens four times a year, with deadlines in mid-January, mid-April, mid-July, and mid-October.
Understanding the Difference Between Incubation and Acceleration
The incubation program is designed for startups in the early stages of development. It lasts for three months and focuses on two key areas: product-market fit and prototyping.
Product-market fit refers to the stage where a startup has entered the market and is targeting the right customer group with its products or services. To achieve product-market fit, startups are guided to analyze the market, gather feedback, and continuously refine the uniqueness of their offerings.
Prototyping involves creating a prototype, which can be either hardware or software. If a startup meets the criteria, New Energy Nexus also provides access to funding opportunities for prototyping.
In contrast, the acceleration program is designed for startups that are more mature or at a later stage of development. It also lasts for three months and focuses on preparing startups for scalability. The curriculum includes mentoring sessions in areas such as human resources, finance, and marketing & communications.
Tips to Refine Your Idea and Make It More Convincing
The most important tip is to dedicate extra time to ensure that the problem your startup idea addresses is a real issue faced by society. This will reflect the market’s needs and demand.
Conduct thorough research on the solution you’re offering to ensure its feasibility and scalability. Assess the potential for growth and how the solution can expand its market share over time.
Make sure your solution has a unique value proposition that sets it apart from competitors and offers superior value.
What Kind of Ideas Are Considered Attractive?
- Addresses a real problem faced by society, clearly reflecting a market need or demand.
- Has feasibility and scalability, ensuring long-term viability and growth potential.
- Offers a unique value proposition that makes it stand out and surpass existing ideas or solutions.
What Factors Influence Consideration for Acceptance into the Incubation Program?
- The solution has the potential to address a real problem faced by society.
- The solution has been evaluated for feasibility and scalability, ensuring long-term sustainability.
- The solution offers a unique value proposition compared to existing ideas or solutions.
- The startup has carefully considered foundational planning, including methods for prototyping, test locations, pilot scale, and the types of data to be collected.
What Are the Next Steps After Being Accepted?
Once your application is accepted, the New Energy Nexus team will conduct an initial evaluation. Startups that pass this evaluation will be contacted to schedule an interview.
The interview process occurs in two stages: The first stage involves the program manager and investment manager. The second stage is conducted by the program director, investment director, and a representative from the New Energy Nexus Global team.
If you pass the interviews, a meeting will be scheduled to discuss the tailored curriculum plan and focus areas of the program based on your startup’s needs.
After the approval meeting, the startup team will receive a contract to sign before beginning the incubation or acceleration program.
If Your Idea Has Been Rejected, Can You Try Again in the Next Batch?
Absolutely! We encourage you to participate in the [RE]Charge training sessions held every month. These sessions are designed to help your startup team refine and strengthen your business idea.
What Should Be Avoided When Submitting an Idea?
- Submitting ideas that fall outside of New Energy Nexus’ focus areas in clean and smart energy, including clean energy, smart grids, energy efficiency, energy management, customer service, e-mobility, business model innovation, IoT & digitization, energy access, and energy storage.
- Failing to provide a clear and detailed description in the Submittable application form.
Registration for the Smart Energy Program Q2 2021 closes on May 2, 2021
