[RECAP] GMIC Indonesia 2017: New Frontiers of Intelligence
Insightful sessions, inspiring speakers, exciting startup enterprises!
The premier annual mobile and tech conference event GMIC has successfully taken place in Indonesia Convention Exhibition (ICE) in BSD on September 26th, 2017. Hundreds of investors, speakers, entrepreneurs and startup enthusiasts gathered together, sharing their knowledge and insights on the industry. Among the exciting discussions and networking sessions, the global competition G-Startup Worldwide has also been held as part of the event.
ANGIN would like to congratulate the winners of G-startup competition! The second runner-up went to Shipper, an online logistic platform providing services to small to medium scale businesses. Followed by the first runner-up, Squline, an online language learning platform providing classes for English, Chinese, and Japanese languages. And finally, the first winner, with a prize of USD $150,000 went to Growpal, a digital platform that connects value chains and different stakeholders in the agri-fishery industry. Surely, we are excited and proud to see the growth of Indonesian entrepreneurs.
Other than witnessing the fierce and enticing startup competition. ANGIN team had also attended several panel discussions on topics about startup growth and upcoming trends. Here are some of our notes from few sessions on startup team-building and upcoming trends from VCs perspectives:
How Do You Form The Dream Tech-Team For Your Startups’ Success?
Moderator: Nayoko Wicaksono, Co-Founder, Algoritma
Speakers: Norman Sasono, Co-founder & CTO, Bizzy; Anton Soeharyo, Founder & CEO, Touchten; Benson Kawengian, Founder & CEO, Urbanhire; Teguh Ariwibowo, Founder & CEO, Pinjam.co.id
What are the top criteria when choosing your teammates?
- Same vision, but different expertise that complements the collective skills of the team
- Committed and not attached to other businesses
- Someone with good timing who is ready to jump in
- Trustworthy, and respectful
- Someone with similar culture, adaptable, focus and responsible towards their job descriptions
When you begin your business, it is important to find a balance between hiring fresh graduates and experts accordingly to your budget.
How to retain tech people to stay in your team?
Founders need to remember that these people want to create impact and believe in what they are doing. On the other side, they need to feel challenged and they want growth. By sharing with them the vision and objectives of the company, while considering their personal goal, founders can offer them new learning experiences. Meanwhile, the company’s organizational structure should not be hierarchic. Companies should strive for dynamism where all employees have opportunities for growth and job mobilization.
How do you maintain relationships with your co-founder?
First of all, founders need to understand that working in teams may not always translate into good relationships. Founders and employees need to have a balance in hanging out and working time. Furthermore, it is essential to be real, honest, and communicative between each other.
How far does Indonesian culture of ‘not being too direct’ affect team communication?
When talking or giving feedbacks, it is important to be backed up by data. Moreover, founders should aim to create a constructive and interactive company culture where employees and management team can gather together and discuss progress and possible improvements of each team member. For example, weekly meetings and feedback system.
Inside the Deal: The VCs Tell All
Moderator: Mohan Belani, Co-founder & CEO, e27
Speakers: Ilya Kravtsov, Co-Founder & CEO, Pouchnation; Benjamin Nicolas, Managing Director, ZEN Rooms Philipines; Guillem Segarra CEO, Happy Fresh
What are the main sectors that VCs are currently looking at?
We have been seeing a pattern where big data will be the next big trend after e-commerce.There is still a big market opportunity for other sector marketplaces. Along with those, the gaming industry and education are also gaining heights.
What are your thoughts on inbound Chinese VCs and how they differ from Indonesian VCs?
It is seen as a good thing, triggering more investors to come because the ecosystem is still very new. The difference with Indonesian VCs is that they are the one who needs to educate and guide founders on how VC operates. Indonesian VCs will also have a better understanding of local markets than foreign VCs.
How investment scheme now is different from 2015?
Indonesian VCs are getting more selective, they can see strong business models with strong fundamentals and great founders. Starting from 2016, more investors are coming in from different backgrounds, i.e conglomerates, corporate, family offices, etc. There onwards, investors are seen to give more helping hands to the startups through providing mentorship, asset support, network, and other support outside monetary funding. The other thing that can be witnessed is that exit from Indonesian startup is possible.