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Angel Investment Network Indonesia (ANGIN) to expand in Medan
The first and largest angel network in Indonesia, ANGIN, today announced its expansion plan to Medan. ANGIN will tie up with regional partner, Edy Tan, to establish its presence in the market. Edy Tan is the Managing Director of Medan Inovasi Bersama, a digital start-up incubator in Medan that provides digital entrepreneurial skills, training, mentoring, incubation, and funding. The new subsidiary, ANGIN Medan, will be based in Clapham Collective (a co-working space in Medan CDB) and begin its operation this June.
ANGIN believes this subsidiary plan will help the angel network to activate and access untapped market like Medan, where presence of potential investors and startups to be nurtured are growing. Through a subsidiary, ANGIN hopes to reach out more investment opportunities and provide more effective end-to-end investment assistance for both startups and investors outside of Jakarta.
“Medan is home to many successful entrepreneurs. It is geographically very strategic. With its proximity to Singapore, Kuala Lumpur and Bangkok, it stands to benefit from the economic activities in the regions where the urban population is almost 30 million strong. Most of the entrepreneurs in Medan are trained from conventional business perspectives with a heavy focus on agribusiness. That’s why Medan, the fourth largest city in Indonesia, is falling behind the other big cities when it comes to the startup scene. As a result, our local talents prefer to go to Jakarta to explore the space.
To counter that detrimental movement, Medan Tech Valley was formed to raise public awareness with regard to the future and potential of digital startup industry in North Sumatera. Medan Tech Valley aimed to foster the ecosystem for young entrepreneurs to thrive in the digital era where they need the knowledge, mentorship, network, and funding. Due to the nascence of the startup scene in Medan and the economic potential of the city, the opportunity for growth and disruption is huge.
We are very excited to see increased interests from local budding digital entrepreneurs to stay and make a difference in our hometown. ANGIN Medan will play a crucial role in supporting this positive development for the City where the socio-economic impact will ripple through a province of over 15 million people.” says Edy Tan, Managing Head of ANGIN Medan..
ANGIN Medan is ANGIN’s first subsidiary. With an interest to amplify its impact, currently ANGIN is exploring similar opportunities in other regions in Indonesia.
ANGIN (Angel Investment Network Indonesia) is the first and largest angel investor network in Indonesia. It gathers 46 high-net-worth individuals (HNWI) who pool resources together to engage in early-stage investment and mentoring. ANGIN team supports entrepreneurs on their fundraising journey by equipping them with the right assets and connecting them with like-minded investors, to ensure these entrepreneurs get the right resources at the right terms. Currently, the company has invested in 23 companies coming from tech, non-tech, and social enterprise sector.