Launching the Entrepreneur Of The Year 2018, EY searches Indonesian entrepreneurs to be market leaders

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1 Press release For immediate release PT Ernst & Young Indonesia EY Entrepreneur Of The Year Committee T F EOY.Indonesia@id.ey.com ey.com/id/eoy Launching the Entrepreneur Of The Year 2018, EY searches Indonesian entrepreneurs to be market leaders EY Indonesia announces the launching of EY Entrepreneur Of The Year 2018 in supporting and recognizing entrepreneurs to stimulate economic growth throughout the country, together with Standard Chartered Bank as major sponsor. Jakarta, 25 April 2018 The EY Entrepreneur Of The Year, known as EOY, is a prestigious and distinguished award for entrepreneurship. Launched in Indonesia in 2001, the EOY award has recognized over 150 Indonesian entrepreneurs for their achievements and contributions to business industry and society. With this year theme of From entrepreneurs to tomorrow s world market leaders, the launching event presented EOY 2017 Technology & Digital Entrepreneur Award, Achmad Zaky (CEO and founder of PT Bukalapak.com); Social Entrepreneur Of The Year 2017 award winner, M. Alfatih Timur (CEO and founder of PT Kitabisa). The discussion was led by Hari Purwantono (Country Managing Partner of EY Indonesia) and Rino Donosepoetro (CEO of Standard Chartered Bank Indonesia). Upon explaining the background of 2018 EOY theme, Hari Purwantono stated that EOY provides a platform for Indonesian entrepreneurs to compete and be highlighted at the international level with winners from 60 countries. He further explained, EOY is a competition, and consistently the winners have shown they are not afraid to compete with entrepreneurs from other countries. In fact, this event opens up the possibility of developing a broader network among their peers from participating countries. We at EY believe that Entrepreneurs are catalysts that ignites innovation, growth and disruption. The entrepreneurial spirit added with the right mix of education, experience and timing, becomes a very powerful foundation towards creating entrepreneurial success. Past winners of EOY include Indonesian top business leaders and iconic entrepreneurs. These entrepreneurs have helped in improving economic growth, brought and developed innovative solutions as well as encouraged entrepreneurship in the Country. Realizing the purpose in leading business and entrepreneurship spirit, the key traits of entrepreneurs who had potential to scale up and grow to be a market leader shared by our EOY alumni. The key traits of incredible entrepreneurs such as: Passion, which motivate them through initiatives about how to make things better; Tenacity, meaning never being able to surrender; they are nonconformists and team players; they see opportunity, instead of disruptions; and they expect failure and celebrate success.

2 2 There are inspiring stories shared by EOY finalists. Challenges in acquiring first round funding; successful pitching strategies to align with the funders profiles and investment appetite; and addressing the perennial question of What do you think it takes to be a successful entrepreneur? PT Bukapalak has become an online ecosystem that provides opportunities and empower Indonesian Small and Medium Enterprise (SME) entrepreneurs. Achmad Zaky, CEO and founder of PT Bukalapak, believes in the vast opportunities of the internet and seeks to help local buyers and sellers, especially SMEs, strive beyond their neighborhood markets towards a nationwide reach. The e-commerce platform had officially become Indonesia's startup unicorn, as the company was now valued at over US$1 billion and targeted to serving 10 million people by "Although this Award was presented to me, actually I was just a representative of the entire team of Bukalapak who has been working hard day and night. Behind Bukalapak, there are 1,000+ brilliant Indonesian talents. With the Award, we are encouraged to work harder to support millions of Indonesian SMEs. Not to forget that we are also nothing without Pelapak (the seller), who are the soul and our ultimate goal in raising Bukalapak. They have worked tirelessly to serve customers from all over Indonesia. We believe that the future of Indonesia is in the hands of the SMEs. They are the true Entrepreneur of the Year, said Achmad Zaky, CEO and founder of PT Bukalapak. M. Alfatih Timur, CEO and founder of PT Kitabisa.com learns that one of the common obstacles encountered by change-makers and social entrepreneurs is the lack of fund. Kitabisa was then founded and has become a renowned Indonesian social business e-platform. Kitabisa aims to solve social issues through a crowdsourcing platform that requires public collaboration. Its online features have allowed people to donate funds more transparently and effectively. It has raised more than Rp 200 billion donations from campaigns, ranging from infrastructure development and religious buildings to providing scholarships. "We believe that humans are innately good, and the internet is the perfect medium to connect and amplify kindness," said M. Alfatih Timur, CEO and Founder of PT Kitabisa.com, in the launching event. Standard Chartered Bank, the major sponsor of EOY, is a leading group of international banking with over 155 years of service in Indonesia and has helped various companies to grow and expand. Standard Chartered Bank is committed to supporting entrepreneurship as one of the main drivers of the national economy, job creation as well as innovation leader. Rino Donosepoetro, CEO Standard Chartered Bank Indonesia, said, This year marks our fourth participation in supporting Entrepreneur Of The Year award. It underscores our strong believe that entrepreneurs are the key drivers for innovation, job creation and most importantly economic vibrancy and societal impact. At Standard Chartered, innovation and tenacity are at the heart of our strategy in banking the people and companies that drive investment, trade and the creation of wealth across our footprint. With our breadth and depth of network across some of the world s fastest-growing economies, we are excited to support these next generation, winning businesses of tomorrow as they grow and take on international markets. EY is proud to collaborate with Schwab Foundation for Social Entrepreneurship through EY Social Entrepreneur Of The Year (SEOY) to recognize deserving social entrepreneurs for their contributions as the agents of change in society through a different approach of business in respect to social, economic and environmental problems.

3 3 Eligibility To qualify for participating in the EOY award, an entrepreneur must be: A founder/owner/manager of a private or public company that is at least three years old Primarily responsible for the recent performance of the company An active member of top management in the company The judging is carried out by an independent panel of judges comprising leading figures in the business community, financial services sector, academia and past EOY award recipients. The judging criteria applied in the assessment includes entrepreneurial spirit, value creation, strategic direction, national/global impact, innovation and personal integrity/influence. The nomination period for EOY 2017 participants has been opened and will be closed on July 31, The application form can be obtained by contacting EY Entrepreneur Of The Year Committee in Entrepreneurs can nominate themselves or get nominated by other parties. Selected EY Entrepreneur Of The Year 2018 will participate in EY World Entrepreneur Of The Year TM in Monaco, Monte Carlo in 2019 to compete for the title with all Entrepreneur Of The Year titleholders from around the world. The EY Entrepreneur Of The Year 2018 is founded and produced by EY with full support from Standard Chartered Bank, Financial Club Jakarta as supporting partner and Forbes Indonesia as media partner. As for EY Social Entrepreneur Of The Year, EY collaborates with Schwab Foundation. -end- For further information, please contact EY Entrepreneur Of The Year Committee: Amelia N. Azeliawini Shavira M. Manurung Rasmana Raga PT Ernst & Young Indonesia Indonesia Stock Exchange Building Tower 1, 13 th Floor Jl. Jend. Sudirman Kav Jakarta Tel : Fax : EOY.indonesia@id.ey.com

4 4 Notes to editors From entrepreneurs to tomorrow s world market leaders Entrepreneurship is the fuel that ignites innovation, disruption and growth. While some people may be born entrepreneurs and many inspirational innovators may share certain characteristics, one thing is clear: The right mix of education, experience, timing and an eye for what needed by society or consumers is vital to entrepreneurial success. It is often said that entrepreneurs are those who start businesses and leaders are the ones who run them. But we are contend that every entrepreneur must be a leader and the roles cannot be mutually exclusive. We at EY conduct an annual EY Entrepreneur Of The Year (EOY) program, involving entrepreneurs in more than 145 cities and 60 countries, culminating in the EY World Entrepreneur Of The Year (WEOY) bringing each country s finalists together in an event in Monaco. In Indonesia, this is our 18 th year providing a platform for leading Indonesian entrepreneurs. This year s theme is From entrepreneurs to tomorrow s world market leaders. There are many interesting and inspiring stories shared by finalists at the WEOY. Challenges in acquiring first round funding; successful pitching strategies to align with the funders profiles and investment appetite; and addressing the perennial question of What do you think it takes to be a successful entrepreneur? Some of our EOY finalists reflections on the qualities they share in being successful entrepreneurs are: 1. Passion The people we met had drives and a strong belief that they could shape their own destinies. Though their businesses, ranged from marine engineering, toys to pharmaceuticals, one quality rang true: They were motivated by strong ideas about how to make things better either for themselves, for consumers or for society. It is often said that what differentiates a good leader with a great leader, is passion. 2. Tenacity You know those people who just don t give up? One recent winner from the Philippines, Nico Jose Nolledo, is a great example of this. After gaining a business degree, the only job he could get after the Asian currency crisis, was to be an assistant manager at a fast food restaurant. But he didn t give up. He founded his first tech company in 1999, and founded Xurpas which focuses on mobile content in 2001 with just US$1,300. Xurpas went straight to an initial public offering (IPO) in 2014, and is now South East Asia s largest consumer technology company by market capitalization, worth PHP6.15b (approximately $117m). 3. Both non-conformists and team players Though these may seem contradictory, successful entrepreneurs are both. It takes an outsider s eye to spot niches and gaps in the market. But we also have to be able to inspire people and build strong teams. The initial months of a startup are incredibly demanding if your people aren t 100% with you, giving their absolute all, you won t succeed. 4. Focused on the opportunities Entrepreneurial leaders see opportunity where others see disruption and chaos. This is exemplified by WEOY 2016 winner from Australia, Manny Stul, Chairman and co-ceo of Moose Enterprises, who increased sales by 7,200% in just 15 years. But it wasn t a smooth ride upward. Success came after being confronted with one of the largest recalls in history. Ignoring advice to declare bankruptcy, he reached approvals with local and international governments, signed ongoing trade agreements with each and every distributor around the globe,

5 5 and ensured there were no staff layoffs. All this helped the business not only to survive but thrive. Stul was always determined that Australia would be a starting point to global success and Moose Toys is now the fourth-largest toy company in Australia and the sixth largest in the US. 5. Not afraid of risk and failure As José Neves, CEO of luxury fashion retailer Farfetch says, The biggest risk is not to take risks at all. In a world that is constantly changing, the biggest risk is to stand still. One of our US EOY winners, Jayschree Ullal, would certainly echo this. Back in 2008, when she became President and CEO of Arista Networks, the vision was to build a company led by engineers to take on established tech giants. The reality was that Arista had no revenues and under 50 employees when she took the post. Under Ullal s tenure, alongside Chairman Andreas Bechtolsheim, Arista has grown into a billion-dollar business in revenue. 6. Other important factors stated by our winners are: Timing, funding and building networks. In a world where rapid and dramatic changes in the business landscape occurs with the rise of robotics, artificial intelligence and machine learning riding on the wave of new technologies, we believe that these human entrepreneurial traits will be increasingly important and play a determinant role in the success future of business. This applies not only to the new disruptors, but also large established organizations. About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. About EY Entrepreneur Of The Year EY Entrepreneur Of The Year is the world s most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 145 cities in more than 60 countries. ey.com/eoy About Standard Chartered Bank We are a leading international banking group, with around 86,000 employees and a 150-year history in some of the world s most dynamic markets. We bank the people and companies driving investment, trade and the creation of wealth across Asia, Africa and the Middle East, where we earn around 90 per cent of our income and profits. Our heritage and values are expressed in our brand promise, Here for good. Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India. As one of the oldest banks in Indonesia, Standard Chartered Bank has over 150 years of operations dating back to With 26 branch offices in 7 major cities in Indonesia and a network of over 30,000 shared ATMs, making the Bank as one of the international banks with widest geographical footprints in the country. Standard Chartered also invested some shares in PermataBank.

6 6 About Financial Club Jakarta The Financial Club Jakarta is the best located private club in the city, situated at the top of Graha CIMB Niaga in the heart of the business district. For the last 21 years The Club is committed to offer its highest service making it the most comfortable place for its members and guests to meet. Facilities included are dining rooms offering oriental, western and Japanese food as well as especially designed private room. Whether you are wording off lunch or exercising with the future in mind, our Fitness Centre will keep you in shape. About Forbes Indonesia Forbes Indonesia provides insights and critical information covering the local to the global business scene, from established tycoons to the smallest startups as well as investment advice, insights on strategy and lifestyle features. Forbes Indonesia publishes exclusive features produced by an experienced team of writers and editors, and provides invaluable information for the business community. About Schwab Foundation The Schwab Foundation for Social Entrepreneurship provides unparalleled platforms at the regional and global level to highlight and advance leading models of sustainable social innovation. It identifies a select community of social entrepreneurs and engages it in shaping global, regional and industry agendas that improve the state of the world in close collaboration with the other stakeholders of the World Economic Forum. APAC No