Royyan Wafi, the founder of the startup CoFilm, made a compelling presentation at the LPDP Business Competition 2023.

ITS Campus, ITS News – CoFilm, a venture initiated by the academic community of Institut Teknologi Sepuluh Nopember (ITS), continues to make waves with its commitment to excellence. This time, CoFilm, the innovative antivirus paint product since 2020, secured the second prize in the LPDP Business Competition 2023.

Royyan Wafi Pujianto, the founder of CoFilm startup, explained that the LPDP Business Competition is a platform where budding entrepreneurs, as well as those with business ideas, offer and develop their innovations. “The competition comprises two business categories in the LPDP Business Competition 2023: the Business Initiation Plan and the Business Growth Plan,” stated the young entrepreneur known as Wafi.

The Business Initiation Plan category is designed for entrepreneurs who possess business ideas or plans that have been operational for a maximum of two years. Meanwhile, the Business Growth Plan is aimed at entrepreneurs whose ventures have been running for over two years and have the potential for substantial expansion. “Based on these categories, CoFilm participated in the Business Growth Plan category,” Wafi said.

Royyan Wafi (center) receiving the second prize award for CoFilm in the LPDP Business Competition 2023, Business Growth Plan category

Furthermore, an alumnus of the ITS Department of Electrical Engineering, Royyan elaborated that in the Business Growth Plan category, participants are challenged to present a clear and detailed business strategy for growth. The CoFilm team introduced their innovation: a nano-copper technology antivirus paint capable of neutralizing 90 percent of viruses within 10 minutes and 99.99 percent within an hour.

After progressing through various competition stages, starting with regional selection, CoFilm advanced to the national round. At the national level, the product secured a place among the top five and eventually clinched the second prize in the event. To secure this second position, the CoFilm team, represented by Wafi, had to deliver a succinct three-minute presentation. “Within that timeframe, we needed to succinctly yet convincingly communicate the strengths of our business,” he explained.

Wafi outlined that several criteria were considered in the evaluation process, including network, market appeal, social impact, business strategy, and novelty. From a networking perspective, CoFilm had established collaborations with medical equipment distributors, testing agencies, and research centers. Additionally, the CoFilm team involved virology expert Prof. Kazufumi Shimizu, PhD, from Airlangga University, and nano-technology specialist Dr. Agung Purniawan, ST, MEng, from ITS.

Royyan Wafi (third from the left) with the top five participants of the LPDP Business Competition 2023, Business Growth Plan category

Regarding market appeal and innovation, the CoFilm anti-infection coating is a novel product with no competitors in Indonesia. With this advantage, Wafi is optimistic about CoFilm’s potential to capture a broad and evolving market share. Nevertheless, he plans to expand the business by broadening the distribution network, even extending into transportation service facilities.

According to Wafi, participating in the recently concluded LPDP Business Competition 2023, which concluded on August 7th, has brought several benefits, including network expansion. “Not only that, but also practical experience, recognition and acknowledgment of achievements, skill development, and access to the entrepreneurial ecosystem and investment opportunities,” he concluded. (ITS Public Relations)

Reporter: Tyara Novia Andhin