It is not easy to start your own business and to become a successful entrepreneur. There are a lot of factors that determine the success of a business. According to a BPS survey, it was found of 14,000 participants under 36 years old, 24.4% of them have said that being an entrepreneur is the trending job for youths.
However, it is not simple to start a business because entrepreneurship is filled with hardships. It may come in the form of the lack of funds or the need for profit, or maybe the hardship may be in determining how to make a product famous in the market. It can also be when making an efficiently functioning product, deciding the timing for marketing, or in fighting to get a steady flow of profit in a competitive market.
With this in mind, UPH provides an ‘incubator’ as a solution for students and alumni who are keen on entering the world of entrepreneurship.
According to Professor of International Business and the Director of UPH’s Incubator, Radityo Arianto, there are many important decisions that factor in the success of a startup business. Therefore, the ‘incubator’ is there to help solve the problems that arise from these decisions.
Arianto explained, “We want business workers to focus on their projects, focus on their products and its legacy so that they can create the products faster. This is because timing is often the greatest hurdle that is faced by aspiring entrepreneurs. The product must be released at the right time, for example, before competitors come up with the same products. Because there is little to no time, the ‘incubator’ helps with the financial, teamwork, and networking factor.”
Furthermore, Arianto explained that UPH’s Incubator promotes students two times a year on their Pitching Day. All students or UPH alumni with a spectacular business or startup idea will be given the chance to present their ideas in front of related industries, angel investors, as well as venture capitals.
“The point is we are here to bring ideas to networks. If the idea is good and has great potential, we will help them in the incubator. We will help them there. This is also an opportunity for investors because they will get the chance to invest in a small, but promising, project.”
In addition, the Incubator at UPH Lippo Village campus is equipped with day-to-day mentors, training sessions, seminars, and committees comprised of executives who are successful in their own areas of expertise. They provide sources on how to solve problems in addition to experience, believing that fellow entrepreneurs will be able to learn from other people’s experience.
“The Incubator has a wide network in financial and venture capital areas, or in companies willing to invest in startup businesses. The Incubator has many connections with the big players of the industry who will help by discussing and mentoring the students. This will help them grow beside these players, gaining knowledge and skills. The Incubator, therefore, provides skills through experience. The point is that you need to get your hands dirty.”
Passion is not the only thing needed; They must be attentive to the social benefits in order to become a social entrepreneur. Each business must not only be profit-oriented, but it must be a sustainably developed business that will positively impact and help many people.