The grant is contained in an agreement signed by the President Director of PT Mahkota Permata Perdana, Herman Nagaria, and Secretary General of the Ministry of Research, Technology and Higher Education, Ainun Naim, here on Monday.
"This agreement is very important to develop science and technology area to facilitate joint technological researches and develop innovations among researchers, universities and business world," Ainun said.
Business incubation in science and technology area is expected to generate small and medium entrepreneurs or technology-based start-up business.
"So, the park can grow the economy around it," Ainun said.
She added that the ministry is cooperating with various parties including business world or industry which have interests in the development of science and technology.
ITB and Summarecon have signed a Memorandum of Understanding on December 11, 2015. Summarecon grants a plot of land to the ministry as a government institution that oversees universities.
ITBs Rector, Kadarsah Suryadi, said ITB has now moved from research university to entrepreneurship university.
ITB Innovation Parks will focus on developing smart and creative industry and several areas, including animation, smart city supporting technologies, radar and health equipment.
Summarecon Presidents Commissioner, Soetjipto Nagaria, hoped ITB Innovation Park can be a backbone and pilot for other areas in Indonesia, and can contribute greatly to the development of creative economy in Indonesia.
"I hope that from ITB Innovation Park there will be entrepreneurs in technology, and Bandung Teknopolis can become Indonesias sillicon valey," Soetjipto said.(*)