ProSehat: The First Online Health Marketplace in Indonesia is Now Available in​​Android

Started just after Indonesia Independence Day in August as the first online health marketplace in Indonesia. 3 months later in National Heroes Day, ProSehat Android application is ready to help Indonesian families being healthy in the way that is easy and affordable.

ProSehat provides access to buy prescription drugs and OTC medicines as well as vitamin / health supplements. Users can directly obtain benefits from the grip through the Android system­based application that currently dominates the smartphone market. To ensure the security and authenticity of health products, ProSehat partners with various local authorized pharmacies spread across some areas, especially in Jakarta. Continue reading “ProSehat: The First Online Health Marketplace in Indonesia is Now Available in​​Android”

OJK Chairman: Accelerate FinTech Growth in Indonesia

As reported by in October 2015 the development of financial technology (FinTech) is so rapid that the Financial Service Authority (OJK) is planning to form an Expert Panel on it. The panel is to review FinTech from various aspects (regulations, infrastructure, security, business mechanism, etc.), including learning study cases from other countries.

Dr. Muliaman D. Hadad, the OJK Chairman, stated, “We want to push so that FinTech grows even faster in Indonesia,” while in discussion with FinTech Indonesia (the association of Indonesian FinTech service providers and pioneers) at the Sumitro building, October 26, 2015.

Also present in the discussion was Sujanto, Director of Investment Management of OJK. Meanwhile, among the pioneers were: Founder/CEO of Bareksa, Karaniya Dharmasaputra; Managing Director of Mountain Kejora Ventures, Sebastian Togelang; CEO of Compare88 Group, John Patrick Ellis; CEO of Kartuku, Niki Luhur; Director of Veritrans, Budi Gandasoebrata; Strategic Partnership Senior Manager of Doku, Alison Jap; COO of CekAja, Best Donald; and Director of Bareksa, Fajrin Hermansyah.

Muliaman added, “OJK’s function is not just to monitor, but also to encourage and accelerate the availability of wider financial access for all Indonesians, – so that the financial industry becomes more inclusive… We are looking for breakthroughs.”

Muliaman emphasizes that he is trying to lead the OJK to speed up the review and improvement for various regulations on FinTech, therefore, “We kindly ask for input; what policies are still unclear, what needs to be adjusted, and what kind of support is needed.”

In regards to that, Muliaman hopes that Indonesia’s FinTech can actively assist the government in raising local and small financial businesses so that they can compete with the big fish. Among the examples he mentioned were, “How to help Regional Development Banks, People’s Credit Banks, cooperatives, and Village Financial Institutions in using technology, so they can also compete and thrive and thus our economy can be more efficient.”

We see that it’s an exciting but challenging road for the FinTech Indonesia association to work hand-in-hand with the Indonesian government on the issue above. A brief look on the background of FinTech Indonesia is as below.

FinTech Indonesia Association

FinTech Indonesia was founded on September 17, 2015 in Jakarta, during the InvestDay 2015 event, which was also attended by the Coordinating Economics Minister, Dr. Darmin Nasution.

Karaniya Dharmasaputra, who was also there, stated, “FinTech Indonesia is founded so that FinTech businessmen and the government can cooperate intensively to form a conducive ecosystem for the development of Indonesia’s FinTech.

Similar initiatives are being done all over the world, in Singapore, Malaysia, the UK, the US, and Australia just to name some. Governments and regulators are embracing FinTech companies, banks, and other key players to study, research and form the future financial ecosystem as FinTech grows.

“In Singapore, the MAS (Monetary Authority of Singapore) has already formed the FinTech Group and Advisory Panel,” said J.P. Ellis, Compare88 Group.

Ellis also explained that there are three main areas to be the focus of Indonesia’s FinTech: (1) providing policy research and maintaining relationship with government/regulator; (2) growing the FinTech community through various education programs, dialogues, and public campaigns; and (3) bridging the Indonesian FinTech community with other global FinTech institutions and communities.

Idea Generation: Lowering Startup Risks, Is It Possible?

I think I don’t need to convince you that “Startup” and “Risk” are inseparable. Startup is equal to entrepreneurship, which by definition contain the word “RISK” – for example an entry in Merriam Webster dictionary for entrepreneur: “a person who starts a business and is willing to risk loss in order to make money.” Startup gurus also warn us that building a startup is akin to jumping off a cliff and building a plane on the way down.

Under uncertainty, there are two options – first is go with the flow and hope for the best. Unfortunately hope is not a strategy. Second is to find a way to structurally reduce risk.

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How is it even possible? Here’s what we think how.

Continue reading “Idea Generation: Lowering Startup Risks, Is It Possible?”

Idea Generation: Follow Up Assignments

Recently, I wrote about the idea generation method that we often use in Founder Institute Jakarta and in Kejora ecosystem. In short, there are five stages where you 1) brainstorm, 2) evaluate, 3) research, 4) talk to customers, 5) try to kill the idea. And an idea must be able to impact millions of lives (customers & employees), so it is worth pursuing for the next 20 years (it is your life anyway!).

Few weeks ago, Andy did a recital of the Idea Generation Metrod in one of C4TK follow up session. He started explaining the whole method, and close the presentation with a practical advise on how to actually start it – which is why I’m writing.

In fact it was an assignment for all the audience, to help them start and find their next best ideas! These activities is designed to help budding entrepreneurs with steps 1, 2 and a bit on step 3 of idea generation.

Remember, it is really easy to fall in love with (your) bad ideas. And nobody will steal your stupid ideas. So don’t worry to share, because people can show your fallacy and will not steal your ideas… take note to those two sentences of wisdom.

The assignment goes like this, after the break.

Continue reading “Idea Generation: Follow Up Assignments”