ANGIN Internship: Kampus Merdeka Program

ANGIN (Angel Investment Network Indonesia) is one of the industries in Indonesia that support this program by cooperating with universities to provide internship opportunities for students. There are 19 apprentices named ANGIN Internship Program (AIP), they are from 17 different cities and 15 different universities. This program has been running for two months and will end on December 24, 2021.

In ANGIN Internship Program (AIP), all interns have been working and participated in several projects such as Kedaireka, DFAT, Tanoto, and INTRA. AIP Interns gained a lot of new skills in writing, analyzing data and communication strategy. Within this program they also got new knowledge and networking for their future career ahead.

In a fast-paced world, Generation Z must be able to keep up with technological changes, therefore they must compete with each other to collaborate and take advantage of increasing their knowledge and competence. The lack of opportunity to meet face to face due to the outbreak, especially in schools and workplaces, makes us unable to communicate effectively. Understanding this, the Minister of Education and Culture, Research and Technology of the Republic of Indonesia, Nadiem Anwar Makarim decided to run the Merdeka Belajar – Kampus Merdeka (MBKM) program in a various forms including internship program, as a form of government assistance for students quality growth. In particular, this internship program will guide students in understanding the work environment system and prepare them for the work environment in the future.

Wirausaha Hijau: New Program Launched by ANGIN

About Wirausaha Hijau Program

Supported by Ford Foundation and the Ministry of Home Affairs Republic of Indonesia, ANGIN is proud to launch the “Wirausaha Hijau” program. The program aims to unlock and accelerate growth for early-stage Indonesian entrepreneurs by enhancing access to impact investment coupled with 1-on-1 mentorship with value chain experts.

Over the course of 12 months, selected entrepreneurs will get access to funding from trusted investors, structured mentorship from experts and practitioners, as well as access to partnership networks as needed. Wirausaha Hijau targets entrepreneurs who are at the post proof-of-concept stage and have innovative solutions to solve cross-cutting challenges in the agriculture, agroforestry, and food systems value chain.

Event Recap

Wirausaha Hijau program was officially launched on Wednesday the 6th of October 2021. The launching event was held online and featured welcome speeches from key stakeholders, namely Alexander Irwan (Director of Ford Foundation), Sri Purwaningsih (Secretary of Directorate General of Regional Development at Ministry of Home Affairs), and Director of ANGIN Foundation, Saskia Tjokro.

Event audiences gained valuable insights from the two panel discussions that boasts key stakeholders Ahmad Dading (Director for SME and Cooperative Development at BAPPENAS/Indonesian Ministry of National Development Planning), M. Pradana Indraputra (Special Staff of National Entrepreneurship Development at Minister of Investment/BKPM), Diva Tanzil (Sustainable Finance Consultant at Rabo Foundation), and outstanding start-ups and entrepreneurs; Dien Wong (PasarMikro), Natalia Rialucky (TaniHub), and Rendria Labde (Magalarva). 

The panel discussions tackled a variety of topics from the current state of the investment and regulatory ecosystem in Indonesia, to the journey and challenges faced by entrepreneurs and impact investors, followed by a presentation by ANGIN’s Impact Investment Lead, Benedikta Atika on the program mechanism and call for proposal.

What’s Next?

The event was just a kick-start to the exciting activities to come. ANGIN is currently calling for applications from entrepreneurs, and are keen to engage with potential investors and other partners to collaborate!

Evo & Co. Secures Seed Funding from ANGO Ventures

Evo & Co, Indonesia’s leading group of brands that focuses on providing solutions to end plastic pollution secures an undisclosed amount of seed funding from ANGO Ventures. ANGO Ventures is an early-stage venture capital led by one of ANGIN’s clients, Mariko Asmara. The seed funding will be used for working capital purposes. 

Founded in 2016, Evo & Co. began with groundbreaking innovation from seaweed called Ello Jello edible cup, produced by their first brand, Evoware. After winning numerous awards and gaining demands, Evo & Co. determined to expand the business by offering a wider range of solutions, which were marketed under their second brand Evoworld. Under the leadership of CEO and founder, David Christian who was also featured as Forbes 30 under 30, Evo & Co. is also actively promoting sustainable lifestyle through our collaborative movement: Rethink Campaign.

Find out more about Evo & Co and visit their website www.rethink-plastic.com

About ANGO Ventures

ANGO ventures is a venture capital company that focuses on businesses that have social impact and profitability. The founders are notable entrepreneurs and investors, Mariko Asmaraand  Andy Gozali.

In 2015, she stepped down as CEO at JAC Recruitment and embarked on her angel investing journey. Six months later, she made her first investment in an Indian women’s safety app and co-founded Ango Ventures, a venture capital firm. Currently, Mariko Asmara took on the role of President at JAC Recruitment.

Get to know more about ANGO Ventures and visit their website here

[RECAP] ANGIN Pitch Luncheon January 2019

Last Wednesday (January 30, 2019), ANGIN organized its flagship event, ANGIN Pitch Luncheon at WeWork Revenue Tower, Jakarta. Four startups were selected by our angel investors (based on voting systems) to present their businesses. Each startup had 5 minutes pitching time, followed by 10 minutes Q&A and feedback session with investors.

This event was well attended not only by our angel investors but also our venture capital friends, such as East Ventures, MDI, Skystar Capital, Monks Hills, Venturra, Convergence, Prasetia Dwidarma and Patamar Capital. The event was concluded with lunch and networking session. 

The four startups who pitched were:

  • Mallness: An Online to Offline platform (O2O) enabling mall tenants (retailers) to increase their offline customer outreach. It allows retailers to engage with customers through location-specific deals and promotion. Using data analytics, it also provides customer behaviours data, leading to better sales. Additionally, Mallness aims to enhance visitors’ shopping experience by helping them to navigate available deals, providing app store directory with user reviews, and online product catalogues. 
  • Buahhatiku: A product retailer focusing on maternity and baby products for middle-lower customers. It offers good quality products at affordable prices, something that appears to be lacking in the current market. Their products include breast pumps, women underwear collection, halal baby diapers, etc. In addition to producing their own brands, Buahhatiku also sells products from various brands on its e-commerce site. 
  • DepeKu: A p2p lending platform focusing on property down payment fulfillment. It targets middle-lower borrowers who experience difficulties in securing capital for a down payment from conventional financial services. As DepeKu tracks borrowers’ historical installments, it helps them to build a solid historical financial record and increase their chance to secure a mortgage (i.e., KPR or KPA) from other financial institutions. 
  • Greenery: A Jakarta-based healthy food eatery and catering. Using only locally sourced organic ingredients, it serves a range of healthy bowls, wraps and beverages for middle-high affluent customers who are aware of their health and fitness. Greenery ensures that their products are free from artificial and dangerous ingredients and approved by a certified nutritionist onboard. It has opened its first outlet in Senopati, Jakarta.

Find photos from the event here.

[RECAP] ANGIN Pitch Luncheon November 2018

November 28, 2018: ANGIN had the opportunity to once again host its Monthly Pitch Lunch, which was held to showcase four up-and-coming startups – Shipmall, Shox, Coverwatch, and EmpatKali – to ANGIN’s angel investors, as well as several venture capital firms and other ecosystem players.

A short recap of the startups:

  1. Shipmall is an O2O platform that uses affiliate marketing to promote merchant’s products to customers. With the Shipmall affiliate program, partners can help merchants to sell their products.  Merchants will be able to sell their products more effectively and ultimately receive an increased number of sales. The customer will feel comfortable buying products in Shipmall because it is the original and best possible price on the market and most importantly is based on recommendations from friends, family, and influencers. Shipmall’s partner will get commission on every transaction that happens through their referral. Other than that, they will be trained and mentored to be a professional affiliate partner.
  2. Shox is a solution that uses computer vision artificial intelligence, where users can take a screenshot of a product in order to get the look. Users can search all retailers and brands on social media by taking a screenshot of the item. After the screenshot, the user taps on instant-notification sent by Shox, in 3 seconds our CV AI engine finds the items that are in the screenshot and gives the user the online address of where to buy them. Think about a mix of Shazam and Skyscanner model for the fashion retail industry.
  3. Coverwatch is a SaaS solution for insurance claims management while helping insurers, hospitals and TPAs to digitise the entire claims journey from patient registration to financial reconciliation. This enables Coverwatch to harness the only real-time health data in SEA, to become the “Google Analytics” for Health. By using Coverwatch the cost to administer a policy and claim will be reduced by 80% and Fraud can be reduced to <1%.
  4. Empatkali is a P2P lending services that hopes to address Indonesians lack of available credit with their zero interest based model. It delivers a fast and reliable instalment solution – interest free using a mobile platform.  Fashion retailers can get the sale now without having to collect money later. EmpatKali pays retailers the full amount of the purchase, shouldering the risk of default, while  allowing customers to receive their purchase instantly and spread the total cost over four repayments. There is no upfront membership or regular account fees.

Each startup had 7 minutes to pitch to investors, and received 5 minutes of Q&A and feedback. Afterwards, attendees had a chance to network and mingle with each other over a delicious lunch served by Burgreens. ANGIN is happy to have seen such a large turnout of investors attend our flagship event and we are excited for more to come.

Liris Maduningtyas: CEO of JALA

Tell us a bit about yourself.

Hi, my name is Liris Maduningtyas and I’m the CEO of JALA. JALA is a data services company that provides services for aquaculture, specifically for shrimp farms. We enable shrimp farmers to increase their yields through technology and smart data. We’ve been in this sector for about two and half years now. I started out with my co-founder, who is actually a shrimp farmer himself. He’s been in the shrimp farming industry for 17 years already, and he started to look at the problem at this shrimp industry and start to gather a team. At the time I was working as a field engineer in an oil and gas services company. I’d been working a lot with data logging and data collection. When I eventually left my company and met with the farmers face-to-face, I started to realize that there is still no such technology breakthrough in this kind of business to improve and optimize the work they do.

Surprisingly, there is actually no available data at all to help farmers make decisions. Farmers must rely on their instincts. For instance, to estimate water parameters, farmers will typically use their fingers by putting them in water. It’s completely insane. In this part of the world, where technology is already booming, we should be able to create a technology solution for these farmers. At JALA, we want to actually help the farmers to gather, all of the data necessary that for them to actually make predictions, to actually make decisions based on the actual data, starting with sensors. So that’s how we started JALA, and how I actually personally jumped into aquaculture.

How does it feel to be one of the leading woman, and furthermore, a C-level woman leader in the aquaculture industry?

It’s quite challenging. If we talk about the shrimp industry and the aquaculture industry in general, there are not a lot of women working in the sector. Most women working in the aquaculture sector usually work with the feed company in managerial roles or research and sales – and not sales in the field, but in the office. I rarely meet female farmers, actually. I’ve only ever met three. But it’s not just about the lack of women in the aquaculture industry, but also the shortage of young people in aquaculture as well.

It can be quite challenging, being a female C-level leader in this sector, especially because of the very small female representation we have here. I always have to prove myself in front of the farmers, who are often quite old and knowledgeable. But I am coming to the table with something; I also have knowledge in this business, and I actually can help them. Being a female leader can be beneficial as well, because I’m different. And people typically love something that is different.

What societal expectations do you face as a young woman? What’s your family’s and friend’s opinion about you joining the aquaculture industry?

You may have already guessed that the environment didn’t start out super supportive. I mean we’re living in Indonesia and it’s part of the culture that women are supposed to be at home, not at the office. It’s changing, sure — you can go to the office, but you know, maybe as a secretary. My parents actually encouraged me to become sort of a certified lecturer, but it wasn’t what I wanted to do. Once again, I had to prove to my parents that I could actually do it. The process took hard work and patience, but it paid off. I actually won a pitching competition on behalf of JALA and then started gaining revenue from the farmers. Now my family is starting to realize that I can actually do it. They’re really supportive. One hundred percent. But they needed some sort of proof first.

How is the startup ecosystem in Yogyakarta? Are there many women entrepreneurs?

In general, there many women entrepreneurs in Yogyakarta, but those specifically working in the startup ecosystem are quite rare. I do find a lot of female entrepreneurs in Jakarta and maybe outside of Indonesia, but in Yogyakarta, you can probably only find a small handful of C-level women in this business.

The majority are in offline, then?

Yes, yes, exactly. The majority of women entrepreneurs are in offline businesses, like coffee shops or restaurants, you know, desserts and the like. But I do really want to encourage women to consider aquaculture and agriculture as career paths. Aquaculture and agriculture are things that you don’t really have to be afraid of.

So in your opinion, why there is there such a limited number of startups?

I think it’s because of people’s perceptions of startups. I’ll tell you a story from my university days. Only two startup founders came from my major, which is electrical engineering. That was in 2010. But then in 2011 with the younger generation, that number started to grow. Although it still wasn’t a lot, I still hope that the trend will continue. There are a lot of women trying to actually become entrepreneurs in the startup scene. Especially in technology.

Who are your role models?

I have a lot of role models, but I’ll just tell you about someone who is currently inspiring me – Sheryl Sandberg from Facebook because I think she’s funny and energetic and patient. She really faced a lot of challenges as a woman entrepreneur at the beginning of her career. And I feel like part of her story also resonates with my own story. So the way that she overcame all of those challenges is something that I draw motivation to also overcome my own.

Where do you see yourself in the next ten years?

I really want to own more than two companies. One company is this one. For the second one, I do really want to own a farm — a high-tech aquaculture farm. I really want people to know that working as a farmer is not a low profile job. I just want to open people’s minds, to tell them that farming is actually a good business. And when it comes to farming, technology, and young people, it could be something that is seen as desirable and lucrative.

What is your advice for young people out there, especially for women who want to start their careers as an entrepreneur in the startup ecosystem?

Girls, don’t be afraid. You have equal rights and equal potential as a person, and you’re equal in every potential skill that you’d need to actually become an entrepreneur in the startup ecosystem. And I hope for you to not be afraid. Don’t just wait to have a secure job. Be out there. Find the problem, find the solutions, and start to build something that is really cool — and make money out of it!

[RECAP] Indonesia-Korea Tech Startup Demo Day

Jakarta, Oct  25th 2018 – South Korean Ministry of Startup and SMEs, together with South Korean Ministry of Sports, Culture and Tourism of South Korean and Indonesian Creative Economy Agency (BEKRAF) hosted the very first Indonesia-Korea Tech-Startup Demo Day at Soehana Hall, The Energy Building, Jakarta last Thursday (10/25). The event was aimed to initiate a connection between startups, investors and related stakeholders from Indonesia and South Korea. The Ambassador of the Republic of Korea, H.E Chang-beom Kim and K. Candra Negara, Director for International Relation of Bekraf opened the event with a big welcome.

25 startups from South Korea and Indonesia had the opportunity to pitch in front of more than 100 investors, industry experts and other stakeholders. Small Medium Business Cooperation (SBC) organized this special pitching session in partnership with the Korea International Trade Association (KITA), Korea Creative Content Agency (KOCCA), and Indonesian Angel Investor Network (ANGIN).

Indonesia-Korea Tech-Startup Demo Day marked the end of Global Mentoring Program, a program with missions to explore and develop South Korean startups’ readiness to enter Indonesia market. Throughout one week, 15 South Korean startups in the program have engaged in a series of exciting yet valuable activities; from getting a mentoring with venture capitals; visiting office of Accelerators, Gojek and Qraved; attending Tech in Asia Conference 2018; to participating in a business matching and lastly, demo day event.

Indonesia – Korea Tech Startup Demo Day is sponsored by the Korean Embassy in Indonesia.

Here’s 15 Korean startups :

  1. Softgear Inc.
  2. Zeus Tech
  3. Ad Design Co.
  4. Tripeaks
  5. Earback
  6. Hope Co. Ltd
  7. Xrisp Co. Ltd
  8. Wayne Inc.
  9. Payperse Inc.
  10. Stylepill
  11. Paintpam Inc.
  12. Davin Holdings Co., Ltd.
  13. Medi Whale
  14. Mhmind Inc.
  15. DTS

Here’s 10 Indonesian startups:

  1. MSMB
  2. Bly
  3. Gudang Voucher
  4. Bizshare
  5. Manpro
  6. Svara
  7. Qiwii
  8. Allesh Power
  9. Vaxcorp
  10. Ponja

Wanna know more about the startups ? Click here to request Indonesia-Korea Tech Startup Demo Day event booklet.

Retno Dewati: Southeast Asia Regional Manager of Fenox Venture Capital

Tell us about yourself.

My name is Retno Dewati and I’m currently the Southeast Asia regional manager of Fenox Venture Capital, a global venture capital firm headquartered in Silicon Valley. We are managing 1.5 billion dollars Asset Under Management  and we have eight offices globally, Silicon Valley, Japan, Jakarta, South Korea, Taiwan, China, Bangladesh, Middle East and Eastern Europe. I’m responsible for the investment deal sourcing and business development for Southeast Asia.

Fenox was established in 2011 and so far we’ve already invested in over 110 companies across the globe. In Southeast Asia we have invested in over 35 companies. And I’m not only investing directly from Fenox, but also working together with my LP from Japan – Infocom Corporation. We are running another program called GnB Accelerator, which invests in pre-seed startups. Currently we’re running the fourth batch. So yeah, the journey has been interesting so far and I’m really excited to be working in this industry.

How did you get started in the venture capital industry?

Before I joined Fenox, I worked in a US-Indonesia Bilateral Organization. It’s a nonprofit organization focused on strengthening US-Indonesia relations. I worked there for nine months but quickly realized it wasn’t my passion. Later on, I found out that the startup ecosystem in Indonesia is growing, and a lot of foreign venture capital, a lot of funds are trying to invest in Indonesia. So I tried finding opportunities, how I could truly contribute or get involved in this growing ecosystem. Fenox happened to be looking for investment analysts, so I applied and got the position.

To be honest, on the first day I joined the company, they gave me some financial projections and reports of a startup. And I was like, what?! (laughs) Seriously, I didn’t know what it was. My investment manager asked me, “What do these projections mean? Do you think that this financial projection makes sense?” And I told him that my background is international relations, that I learned nothing about finance or accounting, but that I would challenge myself to learn. And I thought to myself, “I think I can do this.”

So yeah, my first week at Fenox was filled with very intensive training. They showed me how to read the financial projection, how to read a financial report and how to analyze the business of the startups. I found it to be extremely interesting. At the same time, our government was also trying to focus on the digital economy. So I was thinking, why not stay in this industry so that I can contribute more?

I know that this industry is male-dominated, but it doesn’t mean that females cannot stand out. So yeah. I am staying in the company, doing a lot of research for the startup ecosystem, for the market, and how startups do business. I’m so happy that I’ve stayed with Fenox. I built my career from scratch, joining in November 2015 before I graduated as an analyst. Later on in November 2016, a month after I graduated, I became a senior investment analyst. Most recently, in March 2017, I was promoted to Southeast Asia regional manager. What I’m trying to say here is that age and gender don’t matter at all. All that matters is if you have the passion and you challenge yourself, if you work on it, you’ll definitely prove to your company and to the whole ecosystem that you as a woman can stand out. Even in this male-dominated industry.

What kind of work did you have to put in to get to where you are?

When I first started, I was focused on deal sourcing, due diligence, and the LP report. So I gave some good deals to my investment committee and my LPs. I also challenged myself and told my boss that I think if I’m only doing this kind of thing – investment reports – I won’t go anywhere. I know that being a good investment manager is important, but I think being the face of the company is also way more important if you want to make the name of the company bigger. Investing in good startups isn’t enough, so we have to go out, you have to speak and then you have to be more engaged with the ecosystem, with the startup. So yeah, I gave a lot of good like investment recommendations.

I also manage the operations for the Southeast Asian office. Back then my boss was actually the regional manager before me. He left the company to go back to Japan and at that time my boss thought I was the right person to replace the position instead of hiring a senior-level person. And to be honest, when they promoted me to be the regional manager, I was also surprised. I was thinking, “Will I really be able to manage this responsibility?” Like dude, I was 23 years old! I knew that it wasn’t going to be easy because I’d be responsible for the whole Southeast Asia. I’d have to fly to other countries looking for deals, speaking at tech events.

But I just told myself, okay, I think I can do it if they believe I can do, and if I believe I can do it. And I did. So now I spend about 70 percent of my time for business development rather than for investment. Because for investment I’ve been there done that. So now I give it to my analysts and associates, and now my focus is become the face of the company, doing everything from marketing, business development, networking, finding partnerships with any stakeholders in the startup ecosystem, looking for potential LPs, and working with both the government and the private sector together to grow this ecosystem.

What’s your favorite part of the job?

Traveling (laughs). So yeah, as I mentioned that I spend 70 percent of my time for business development and marketing. So I travel quite frequently throughout the whole region and to the US, because Fenox’s headquarters is in the US. So I go to California two or three times a year and then report to my boss, to my investment committee, to the LPS. Aside from that, I also travel quite often within Southeast Asia, participating as a judge for startup competitions, being a speaker for tech conferences, or any other kind of public engagement opportunities where I can support and contribute to the startup ecosystem.

It can be very tiring, but when you meet all the startup enthusiasts or other VCs and how they are really excited and they’re really believe in this market, in this landscape, it gives you more energy. By the end of the day you forget about all those tiring times. Traveling, meeting new people, and networking with more senior-level people are the most exciting parts of my job. And especially since I met a lot of startups, it’s also a learning process for me. I learned a lot of practical business skills from different startups. I learned how every founder has their own different strategy in executing the business and how they are trying to disrupt or be the winner in the market.

Have you ever faced any challenges throughout your career trajectory? If so, how did you get over those challenges?

There are two things: age and gender. It’s an uphill battle. I’m young and I’m a woman. When I join any board of director meetings of the startups, or in any kind of very important meetings, I’m often the only woman there. And I’m the youngest of all. Sometimes all of the parties attending the meetings are senior-level men. Or entrepreneurs with five to 10 years of experience. Sometimes we cannot deny that they might underestimate us because we are young and we are women. But I don’t care about that. Again, that’s my principal – I think that age and gender don’t matter.

The first time I entered one of those meetings, I was a bit nervous. But then I realized that if you can deliver, then people won’t underestimate you. They won’t see how young you are. They won’t care if you’re a man or a woman. It’s just a matter of how you can be. You can speak out. Before every board meeting, I always prepare. If it’s a portfolio board meeting, I always try to understand what are their challenges. And then during the meeting, I always try to ask a lot of questions, try to show them that yes, I’m young, but I can be as critical as you are. I can be sharp, I can point out something that’s wrong in the company’s business strategy or structure. And then at the end of the day, people will think, yeah, age and gender don’t matter. I think that even though you already have potential, you need to show that your potential people will respect you and that’s how you actually can tackle all the challenges.

How is the VC industry in Indonesia in terms of gender composition?

It’s still a male-dominated industry. Even for analysts. If you see the ecosystem, most of the analysts and people working in VCs are still men. I’m actually also a bit confused as to why. Because the opportunity is open for everyone. I would really encourage women out there to take part in this industry. You are helping the country to grow the digital economy while helping startups doing business. I see more and more women now are getting interested in working in the VC industry. I would like to encourage them to challenge themselves so they can eventually be in top management in this male-dominated industry.

What is your view on the startup ecosystem from the gender point of view?

I think even the entrepreneurial DNA itself in Indonesia is still a bit low. Most people prefer to get a job in a big corporation instead of becoming an entrepreneur, because being an entrepreneur is not easy. It’s really hard to build a startup. You have to bootstrap first to get traction before you can come to the VC and pitch to them for investment. Right now, there are a lot of VCs that are trying to empower women by having specific funds set for them.. It’s a very good initiative and I really appreciate that kind of effort so that we can encourage more female to be a startup founder.

Being an entrepreneur is a challenge, but that now is a good chance for any females who are thinking of building their own startup. And again, even though you are a female, it doesn’t mean that you will get less funding compared to a male entrepreneur. In Silicon Valley, there are many female entrepreneurs building startups. And some even succeeded in building unicorns. And I believe that Indonesian women can also do that.

How long do you think it is until Indonesia has a unicorn with a female founder?

Realistically maybe in the next few years. But I would really hope that within five years, we can have a new unicorn with female founders. And if that happens, I would be really happy and I will be really proud to be part of this ecosystem and maybe I can be their next. investor. But right now I also already in some startup that actually the founder and the cofounder itself is also women. So for example, Hijup is actually one of my portfolio companies. And I also just invested in Travelio.

How do we get more women to become founders? Especially women who are not necessarily based in Jakarta?

It should be a joint effort. We should involve all the stakeholders from the VC, which is, will be the one that going to inject capital into the startups, any other private sector like corporation who might start interested with the startups and then the government, the policy stakeholder. I think we should work hand in hand to encourage them that they have the opportunity.  I am happy that even now, some VCs have fund dedicated for women founders.

I think it’s a matter of creating more programs from the VC side. It’s a good thing to have a dedicated fund for women founders. This could encourage more women to start their own ventures to build their startups. I also think the government should create more associate services and programs. Even if the government cannot support in terms of capital, they can at least support in terms of creating a better policy environment for startups and female founders.

What are the biggest challenges that Indonesia ecosystem faces today?

I think the biggest challenge for Indonesia is the awareness of the technology itself. If you’re talking about startups, it’s all about the business leveraging the technology in an innovative way. But the people still might not be aware about how to use it.

The second challenge is the ecosystem’s own maturity. We need a more mature ecosystem right now. Again, I would like to emphasize here that we need the help from the government. If you see Singapore and Malaysia, the government itself is more mature in supporting the startup ecosystem through policy. We really need that.

For example, the fintechs startups still face many challenges in terms of the license and regulations. So I think we really need to sit together with all the stakeholders, and with the government to make sure that these startups can work properly, that they won’t have any trouble running the startup just because of regulations. The biggest challenge right now is about the regulations. It’s tough, but I think our government is getting there. So I hope in the next year there won’t be any issue with regulations anymore. We don’t want to hear any startup fintech forced to shut down because they do not meet the government regulation.

What’s your long term game? Where do you want to be?

Of course, I want to have my own VC. That’s my long term plan. I’ve been learning how to close a deal with the startups, how to invest in startups, learning how to maintain relationships with LPs. Now I’m working together with my boss to fundraise and set up a new fund for Fenox VC. My long term plan is to have my own VC. Or at least, become a partner in a VC before 30. That’s my biggest aspiration so far. I am 24 now, and I am sure as long as I am working hard, I can achieve that.

Do you have any role models?

My role model is Elon Musk. I really like him to be honest. In my perspective, he is a perfect combination between an innovator, a visionary and a capitalist at the same time.  He build ventures not only to gain profit, but also to help people get a better life.

Do you have any advice for other young women looking to enter the VC or startup industry?

My advice would be, just challenge yourself because if you think that you cannot do it, then you won’t do it.. Work on your passion. It doesn’t matter if your background has nothing to do with finance or business. Everything can be learned. Don’t worry about that. You can learn, you can ask a lot of people who already have an expertise in this industry. If you have a passion, work on it. Age or gender, they don’t matter at all. The most important thing is actually your mindset.

I always say that sky’s not the limit here. The limit is your mindset. If you can do it, you can do it. So I would encourage more people – more young women – to work together and help our government, our country, to be the leading digital economy in this region. By joining a VC, it means you are going to help startups grow their business. The more startups we have, the bigger chance to achieve our digital economy growth. If I can be a regional manager at 23, you can also do the same thing. You can achieve more than I have achieved so far. You can even be a partner at the age of 24, 25. Who knows? It’s just a matter of challenging yourself and doing everything beyond your limit.

[RECAP] Transformational Business Network Asia (TBN) Conference 2018

Another year, another fascinating and informative conference: ANGIN attended the Transformational Business Network Asia (TBN) Conference 2018, which was filled with amazing speakers, enterprises, and delegates from all over the world convening to discuss impact. Enterprises all over Southeast Asia came and exhibited their products and services in the expo area. From sustainability to fintech, crafts to food and beverage, it is clear that South East Asian enterprises are creative in ways beyond belief to deliver meaningful impact. Meanwhile, the ANGIN team was able to reconnect with international partners, friends, and contacts in the social impact sphere, discussing updates, progress, and new partnership ideas for the coming year.

ANGIN was also invited to attend a breakfast gathering organised by Global Accelerator Learning Initiative (GALI) that was organised alongside the TBN Asia Conference. The meeting was hosted by ANDE and Emory University to bring together accelerator and incubator programs in Indonesia and the South East Asia region to share information about different GALI initiatives and explore possible collaborations in the region. The room was filled with practitioners and expert from the region with diverse backgrounds.

About Global Accelerator Learning Initiative (GALI)

GALI is a collaborative research initiative between Emory University’s Entrepreneurship Database Program (EDP) and the Aspen Network of Development Entrepreneurs (ANDE). GALI’s goal is to better understand the impact, if any, of Start-up Assistance Organizations (incubators and accelerators) on the growth and success of start-ups. To know more about GALI, click here.

To read ANGIN’s two-part research on Start-up Assistance Organizations in Indonesia, click here for the first part and here for the second part.

[RECAP] Youth Economic Leadership Program (YELP) 2018

Last Monday, ANGIN team had the opportunity to lead a workshop on Startup Financing at Youth Economic Leadership Program (YELP) event. At this workshop, we shared about the landscape of capital providers in Indonesia, the techniques to find and approach the most relevant capital provider for their needs, as well as basic pitch training to prepare them for their final pitching session in the front of investors and audience on the next day.

40 selected startups from various sectors (e.g. financial services, agriculture, education, health) and company maturity stage attended the program. Our team had a great time, especially during 1-on-1 pitch prep talk, where we listened to the stories of some passionate founders and their startups.

 

ABOUT YELP

YELP is an intensive program to prepare Indonesian youth to be the next economic leaders. YELP is organized by Bank Indonesia (BI) Institute and has been running annually since 2016. The program is comprehensive. Beyond equipping the youth with needed skillsets (e.g. what to know about building technology startups, developing UI/UX, fundraising, human capital management), they also prepared them with needed mindsets (e.g. economic leadership concept).

This year, 40 startups are selected by BI Institute. They received training from various prominent mentors, such as Sanny Gadaffi and Nayoko Wicaksono, and had their pitch watched by well-known investors such Patamar Capital and Kinara Indonesia