Sinar Mas Land, a Singapore-listed real estate expander controlled by the Widjaja family, has created an investment unit called Living Lab Ventures that aims to fund startups in Indonesia for their efforts to expand a virtual ecosystem.
“Living Lab Ventures needs to help local startups unlock their potential and make a difference by integrating their inventions and technology solutions into people’s everyday lives,” Mulyawan Gani, managing partner of Living Lab Ventures, said on Monday.
Living Lab Ventures should focus on three areas: smart technologies that improve city life, virtual living involving e-commerce and social media, and mobility for the movement of other people and goods.
In addition to the investment startups, Living Lab Ventures will also come with an incubator, Living Lab X, that can offer recommendations, as well as imaginable partnerships with other similar companies, pilot tests for testing, collaboration and mentoring for startup leaders in each of them. every level of development.
Living Lab Ventures aims to encourage local start-ups to integrate their technological inventions into people’s everyday lives. In the long term, technologies contribute to the progress of wise peoples on a national scale.
Sinar Mas Land was founded by the former Eka Tjipta Widjaja in 1988. It is now offered in Indonesia, Malaysia, China, Australia and the United Kingdom. The company has established several strategic partnerships with Sojitz Japan, Aeon, Itochu, Mitsubishi Corp. La Widjaja’s circle of relatives ranked as Indonesia’s richest moment with a net worth of $9. 7 billion as of November 2021.