AfterOil, BANIQL, Qarbotech, and Waste4Change Won a Total of IDR 10 Billion in Grant Funding From East Ventures and Temasek Foundation

Mr Lim Hock Chuan (in blue batik shirt at centre), Head of Programmes at Temasek Foundation, with Ms Avina Sugiarto (to his immediate left), Partner at East Ventures, as well as with two representatives each from the winning teams from BANIQL, and AfterOil (to Mr Lim's right) and from Qarbotech, and Waste4Change (to Ms Sugiarto's left).

After months of a comprehensive selection journey, East Ventures and Temasek Foundation are proud to conclude the Climate Impact Innovations Challenge (CIIC) 2023, the largest climate tech innovations platform of the year in Indonesia. With Indonesia assigned to lead the ASEAN Chairmanship 2023, East Ventures and Temasek Foundation are honoured to host the CIIC 2023 Grand Finale as the sideline event of the ASEAN Business and Investment Summit 2023 on 2 September 2023 at The Ritz-Carlton Pacific Place, Jakarta. The CIIC aligns with one of Indonesia's ASEAN Chairmanship focuses on enabling the environment and network for ASEAN's energy transition.

“The Climate Impact Innovations Challenge, spearheaded by East Ventures and Temasek Foundation, is an exemplary initiative, by providing a platform for tech start-ups to showcase their sustainable innovations. They are paving the way for tangible impact solutions against the looming threat of climate change. I am optimistic about the positive change they will bring about in Indonesia and beyond,” said Arsjad Rasjid, Chair Indonesia Chamber of Commerce & Industry (Kadin) and Chair ASEAN Business Advisory Council (BAC) 2023, who delivered the opening speech in front of more than 150 distinguished guests.

Since its launch on 1 March 2023, CIIC has been a driving force in fostering innovation and accelerating the development of sustainable solutions. The programme has received over 330 applicants across four tracks: Renewable Energy; Food & Agriculture; Mobility; and Ocean. The disruptive innovations and ideas within these sectors are poised to drive significant contributions in fostering positive impact, not only within Indonesia but also on a regional and broader international scale.

The 12 finalists across four tracks had the opportunity to present their innovative solutions to a panel of prominent investors and experts, leading in the selection of four winners who won a total of IDR 10 billion in prize pool and exclusive perks, as well as two selected finalists who each get a US$70,000 investment from Rumah Group and Telkomsel Mitra Inovasi (TMI).

The four winners of the Climate Impact Innovations Challenge 2023 are:

  • AfterOil, winner of the Renewable Energy track;
  • BANIQL, winner of the Mobility track;
  • Qarbotech, winner of the Food & Agriculture track; and
  • Waste4Change, as the winner in the Ocean track. Waste4Change also received an additional investment of US$70,000 from Rumah Group.

"Amidst the challenges our world faces, the Climate Impact Innovations Challenge 2023 stands as a beacon of hope, showcasing real action in driving positive development of climate solutions towards a sustainable future. We are impressed to receive the enthusiasm and witness the promising innovations and solutions received through this programme. As we approach the end of this programme, we believe there is so much more we can do to mitigate the impacts of climate change. Therefore, we remain committed to supporting all climate innovators in Indonesia and the region,” said Willson Cuaca, Co-Founder and Managing Partner at East Ventures.

Lim Hock Chuan, Head of Programmes at Temasek Foundation said, “The four winners each offer promising ways of addressing pressing climate issues with potential worldwide impact when scaled up. We are excited about the prospects of renewable energy through synthetic gas production from biomass waste; green mobility from sustainable battery production through use of nickel waste ore; increasing crop yields and nutrition through enhanced photosynthesis with spray-on solution; and circular business model to upcycle plastic waste.”

“As a champion of sustainability, we hope that the Climate Impact Innovations Challenge can continue to harness more such creative energies and improve the lives, liveability and livelihoods of communities in Indonesia and beyond,” Mr Lim added.

“We're being honoured and grateful to win CIIC 2023. It stimulates us to move forward to achieve the next step on making inclusive energy economic growth through advanced biofuels. Thank you East Ventures, Temasek Foundation and all parties who support us to grow and get improvement,” said Rifo Romelio V, Co-Founder and Chief Executive Officer of AfterOil.

“We extend our heartfelt gratitude for the invaluable opportunities and profound learning experiences provided by the Climate Impact Innovations Challenge. Our journey here is not just about our success, but a source of inspiration for countless climate tech pioneers. This marks the inception of our commitment to making a positive impact on Mother Earth. We warmly invite and challenge everyone to unite in our collective climate action,” said Eric C Januar, Co-Founder and Chief Operating Officer of BANIQL.

“We would like to thank East Ventures and Temasek Foundation for paving the way towards climate action by organising the Climate Impact Innovations Challenge. Qarbotech is so fortunate to be part of this movement and able to showcase our technology to a greater audience at the sideline event of ASEAN Business and Investment Summit 2023. Winning the CIIC fast tracks our ambition to help more smallholder paddy farmers in Indonesia to farm more productively and profitably. Through this programme, we are introduced to many potential partners in Indonesia to expand our impacts regionally,” said Chor Chee Hoe, Co-Founder and Chief Executive Officer of Qarbotech.

“Thank you so much to all parties involved in the CIIC 2023, especially for East Ventures, Temasek Foundation, and also Rumah Group. We know that it’s only the beginning, and we’re excited to finally be able to establish our low-value plastic recycling facility together with RiverRecycle—expanding our impact. Looking forward for the future collaboration with everyone in this cause, including with all finalists of CIIC," said Bagas Mukti Wibowo, Senior Business Development Executive of Waste4Change.

Rewatch the IC 2023 Grand Finale at