Sebastian’s Interview with Channel News Asia: Why Be an Early Bird in Indonesia’s Tech Industry

Channel News Asia recently covered a story on the tech industry in Indonesia, particularly in Jakarta where they’ve all gathered in the Slipi area, West Jakarta, thus dubbing the place as Slipicon Valley, obviously a pun for the famed Silicon Valley.

As Sebastian Togelang – Founding Partner of Mountain Kejora Ventures – was interviewed in the news coverage he stated that tech industry in Indonesia are still in the nascent stage, “like early 2000s of Europe or the 2006 of China, so it still has huge potential to grow.”

We believe this huge potential is the reason why it’s good to be an early bird player in this industry in Indonesia. Just as Mountain Kejora is currently doing by incubating 20+ tech startups as they are all growing together in Slipicon Valley.

Why Slipi? The obvious reasons are reasonable rent and proximity to Jakarta’s CBD. But there are also other reasons why these tech startups must stick together geographically while the industry is still in the infancy stage.

Being close to each other, it’s easier for these early bird companies to raise funds, meet up and brainstorm. Raising a startup is super hard, so it is more manageable if startups stick together and collaborate. It’s also interesting to note that the tech startups there are not like conventional businesses that are more likely to ‘bump heads’ in the market. Of course competition is still there, but according to Jason Lamuda, CEO of Berrybenka.com, they are more interested to unlock Indonesia’s “huge potential to grow” as mentioned by Sebastian rather than eat each other’s pie.

As the industry is growing exponentially, we can expect more foreign parties coming in to accelerate things even more, and it would be easier for them if they know Jakarta already has an area well pegged for this.

Enjoy the video!

 

Quick Recap: Lean Startup Machine 2015

Lean Startup Machine Workshop 2015

As we mentioned before, Kejora sponsored the Lean Startup Machine workshop in Jakarta, on 4-6 September 2015, at Kejora HQ facilities, Wisma Barito Pacific Building. The workshop is open to everyone, whether you are a student, entrepreneur (to-be), employee, or innovator.

The point of the workshop of course is to introduce the Startup Machine method in developing businesses and products. This method is heavily about finding out what the customers want and need to avoid developing a product that ends up in the trash bin.

As stated by Doni Priliandi, CEO and Founder Happy, 5, 95% of business failure was not caused by technical difficulties. “It wasn’t bugs that caused your app to fail. It was because nobody is using your product!” he exclaimed.

That’s why as an entrepreneur you should “Get Out of the Building” to really interact with your consumers face-to-face and find out what they’re really doing and what they need to be better. During the workshop, all the teams were forced to do at least 5 (five!) GOOTB experiments in 2 days.

This year’s LSM attracted more than 110 people, coming from various backgrounds. During the first session, they pitched their problems/ideas in order to form their weekend startup team. Out of 28 founder pitches, finally we had 14 teams to work out and validate their ideas over the weekend.

Continue reading “Quick Recap: Lean Startup Machine 2015”

FI 2015 Graduate Wins Seedstars World 2015 Jakarta – Congratulations for dr. Bimo (ProSehat)

Congratulations for dr. Bimo – Founder Institute 2015 graduate, for winning Seedstars World 2015 Jakarta!

Seedstars World Jakarta final was held on September 13th 2015. Featuring 12 best startups, based on invitation only, who pitched in front of local and international jury. As Alisee de Tonnac, the CEO of Seedstars World, says, “Our goal is to create THE network for quality entrepreneurs around the world and help entrepreneurs, accelerators, co-working spaces and investors to interact with one another.”

In 2009, dr. Bimo founded in 2009 a health portal tanyadok.com. His vision is to provide access to reliable healthcare information to improve lives of Indonesian people. The website featured thousands of health articles, combined with Q&A with real doctors (also thousands of them). Recently, dr. Bimo with two other Founders initiated a new startup ProSehat.com an online marketplace for healthcare products and services. He is tapping into the huge Rp 40 trillion market for Indonesian consumer healthcare, a big market, but definitely with challenges as well.

As a winner, ProSehat will be invited to go to Switzerland in March 2016 to pitch in Seedstars World Global Final!! Gruetzi! Viu Glueck u Erfoug!

The Rise of Women in FinTech

As previously we celebrated the achievements of Adrianna Tan, founder of Wobe, we realized that there is an emerging theme: the need to highlight and elevate gender diversity in the FinTech sector.

On June 2015, Innotribe published the research paper: “The Power Women in FinTech Index, bridging the Gender Gap“. In this paper Innotribe stated that although FinTech is already considered to be a disruptive force to the banking status quo and has become an “equalising” medium with the potential to introduce financial services to an estimated 2.5 billion people across the globe without access to basic banking accounts, unfortunately, to date, FinTech’s disruptive impact appears to be limited to technology and business models and has not yet impacted the issue of gender diversity. So the paper presents over 400 Power Women in FinTech.

Despite the gender imbalance that needs to be addressed immediately, the paper’s real focus is not this gloomy reality. Its real focus is on the women who are already beating the odds, who are building the careers of their dreams despite the challenges, and thus are role models. So these ‘wonder women’ are already there, but we just need to recognize them faster to deal with the current imbalance.

Innotribe’s paper also mentioned that according to a research, organizations founded by women or that take leadership roles by empowering women in FinTech are more innovative and return better financial results. We must also remember that women account for over half of the global population, and they have key roles in managing household income and in retail spending.

The next step for Innotribe is to present this issue in the 2015 Innotribe@Sibos programme in Singapore, scheduled to be held on 12-15 October 2015.

A month later after Innotribe’s paper, on July 2015, Dusan Stojanovic, founder of True Global Ventures, stated that throughout his 10 years of working in own-founded ventures and early-stage investments, he had not encountered enough entrepreneurial endeavors directed by women. So, realizing the same problem as Innotribe above, Stojanovic came up with a competition to select top female entrepreneurs. Stojanovic believes the role of women has been “relatively invisible and scarce in the entrepreneurial scene”. So he sought out entrepreneur entities led by women.

From a very competitive list of 157 applicants, four names emerged victorious:

  • 1st Place: Elsa Dsilva from Mumbai, India with Safecity.
  • 2nd Place: Adrianna Tan from Singapore, with Wobe.
  • 3rd Place: Patricia Compas-Markman from San Francisco with DayOne Response.
  • 4th Place goes to Kristina Lagerstedt from Gothenburg, Sweden with 1928 Diagnostics.

For sure Stojanovic’s efforts will not stop here; as in a recent interview Stojanovic states, “I want to see more women in leadership positions. Diversity creates stronger companies. Therefore, I am now on the lookout for female entrepreneurs in social entrepreneurship to support financially“.

We definitely agree with Stojanovic that women as future entrepreneurs would be a good bet. So, Ladies, are you ready to strive for more?

 

How Literate and Organized is Indonesia on FinTech? – Dailysocial Continues with JP

Dailysocial continues their interview with JP Ellis, Founder and CEO of Compare88 Group and owner of cekaja.com, as he shares his view of where Indonesia is at regarding FinTech.

So how literate are Indonesians regarding FinTech? Definitely the awareness is already there, they know they need the knowledge and technology. However JP pointed out that Indonesians still need to dig deeper into technical things like how to compare interests “apple to apple”.

Indonesians are also at a point where they are most concerned for their future investment and retirement plan. This is a good sign because indeed Savings and Investment will be the biggest sector by 2030 according to JP.

JP is also active in the forming of a FinTech association where all the players – including banks and other associations (e.g. AAJI, AKI) ideally – can have a united voice to bring to the government. The government through the “Laku Pandai” program is already trying to reach out to the “unbanked” people, so they know they need technology to cover all of Indonesia from Sabang to Merauke. But who will do it? How exactly? What regulations need to be laid down? And which ministry should oversee this?

2030 may seem far ahead, but now is the chance to speak up and lay a solid foundation for Indonesia’s FinTech.

Source: DailySocial