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The current industry 4.0 era is the digital transformation of industrial sectors. Every company competes to adapt digital technologies so they can continue to exist. PT Telekomunikasi Indonesia Tbk (Telkom), as the largest telecommunications company in Indonesia, began to focus on innovating. One obvious form performed by Telkom to boost innovation is establishing Amoeba (internal startup). Company V is one of the Amoeba and successfully fostered by Telkom. Company V run their business by providing a chatbot platform to help business owner leverage their communication and engagement with their customers using Bots and AI technology. As investors, Telkom needs to find out whether Company V is still eligible to remain incubated or not. Therefore it is necessary to do a valuation process for company V to provide information about what the value of company V is and how much funding should be given. The method used to solve the problem in this paper is a risk-based new venture valuation technique. The result shows that Company V is in milestone 2, with approximately the valuation is 83,16 billion IDR. If market validation is complete and normal risk is applied, the valuation of Company V will reach 568,23 billion IDR starting from year 3, month 5.

Preliminary survey showed that organic waste from the market is about 18.77%, or second largest in the total waste generation. Its management becomes a challenge, because it is not comprised only of organics but also mixed with small amount of plastics; therefore, conventional biological process will not achieve their maximum efficiency. Wet torrefaction is a thermal process in hot water medium, which will dissolve organic materials into water, effectively converting most solids into liquid product. Banana fruit stem and cabbage were chosen as the mixed organic waste representative, and treated in a 2.5 L reactor using saturated steam in the temperature range of 175 to 225 °C before being analyzed for their heating value in solid products as fuel precursors, and their nitrogen, phosphorus and potassium (NPK) contents in liquid products as liquid fertilizer precursors. It was found that for cabbage, the wet torrefaction process at 200 °C and 90 min resulted in 15.59 MJ/kg product heating value with NPK content of 3.43%. For banana fruit bunch stem, the wet torrefaction process at 225 °C and 30 min resulted in 17.64 MJ/kg product heating value with NPK content of 5.13%. It can be concluded that wet torrefaction process can simultaneously produce solid and liquid product as solid fuel and liquid fertilizer, respectively.