Indonesia Entrepreneurs Ecosystem Mapping 2021: Report by ANGIN and Blue Impacts

This new report is brought to you by ANGIN and Blue Impacts, Impact X

Introduction

As the largest economy in Southeast Asia, Indonesia has charted impressive economic growth and is home to a massive population that is excited to embrace emerging technologies. With the advent of some of Indonesia’s largest tech unicorns going public, the island country is gathering significant importance and influence as a hub for startups and talents.

Over the past decade, Indonesia has seen more deals and impact capital deployed by the Development Finance Institutions (DFI) than any other country in the region. With this encouraging trend in mind, a rising number of different players in the startup ecosystem are contributing to nurturing the impact startups – startups with a social and environmental focus while generating promising financial returns.

Moving forward from the pandemic, there is an urgent need to recover our economy and learn from the exposed social and environmental vulnerabilities. The Indonesian Government, an increasing number of companies, youth-led climate actions, and young entrepreneurs, are committed to addressing the United Nations Sustainable Development Goals, to include environmental and social problems on their agenda and work towards a more resilient economy. These entities identify innovative ideas and technologies from startups and entrepreneurs to challenge the business-as-usual trajectory.

This is the emerging trend of Impact Technology, where business ideas are backed by science, technology and innovation to benefit people and the environment. Given the complexity to measure and track social and environmental impacts, we hope to introduce a new perspective and mechanism to ignite, re-align and join forces with existing efforts in the startup ecosystem to build the community that tailors to nurturing these young and mission-led innovators and entrepreneurs so that their impacts can scale and eventually lead our nations towards a sustainable era.

Report Overview

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This report zooms in on some of the key players supporting the startup ecosystem in Indonesia that also contribute in paving the way for impact technology startups to grow. Highlighting the work from investors to service providers, these key players in the ecosystem are building the foundation for startups to make a positive impact through tech-enabled solutions.

This report use the term “impact” in a broader scope. Not only social enterprises deliver “impact” (i.e. achieve positive social and environmental impact through the business). “Impact” can be a vague concept and while social enterprises intentionally state that they are pursuing “impact” and have the duty to measure it. Some of these players that may be working in Impact Areas also contribute to achieving “impact” without stating it openly or with a capacity to measure it.

Recognition

About Impact X, Blue Impacts

Blue Impacts seeks to discover, support and scale impact technologies solving environmental and development related challenges. Focus areas include food systems, energy and carbon, inclusive finance, urban resilience, improved health and circular economy. Blue Impacts has offices in Singapore, Australia, and China.

A startup innovation challenge, called SHIFT!, is a discovery platform established by Blue Impacts with partners in 8 cities across the Asia Pacific. Designed to discover impact technologies at their earliest stage, Shift! takes a deeper approach to developing startup ecosystems at the local level.

The company brings innovators together with investors, buyers, and experts at the Impact X Summit, to match and help scale. In 2021 and 2022, Impact X Summits will take place in Australia, China, and the Netherlands.

Disclaimer: The report prepared by a team from ANGIN and Blue Impacts. The organisations featured in the report are based on ANGIN’s interaction and observation with Indonesia’s Startup Ecosystem. Any reproduction in full or in part must mention the title of the report and credit the above-mentioned publisher as the copyright owner. 

This report aims to highlight and identify the possibility of aligning existing efforts in Indonesia’s startup ecosystem to nurture, invest, and scale startups and entrepreneurs with a focus on climate and sustainable development goals. This report is also the follow up of ANGIN’s report, the 2019 edition of ecosystem mapping report. So here is the 2021 edition of the key players who are highly contributing to the development of entrepreneurship and paving the way for impact technology to grow in Indonesia. 

These are the organizations you should definitely meet if you are exploring the Indonesian impact technology startups market. We have updated our 2019 list to reflect the changes in the ecosystem as new players are coming, some organizations are not active anymore, less active or changed their focus. 

Previous Report by ANGIN

66 People and Organizations Moving Social Entrepreneurship and Impact Investment in Indonesia (2nd Edition)

This report is the follow up of 2018 ecosystem mapping report ANGIN released in 2019.

52 Figures and Organizations Moving Social Entrepreneurship and Impact Investment in Indonesia (1st Edition)

This report is the first edition of ANGIN ecosystem mapping report released in 2018.

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[RECAP] Impact Accelerator-Batch 3 Awarding Ceremony

Kinara Indonesia’s Indonesia Impact Accelerator organised an  awarding ceremony for its Batch 3 participants  last Thursday (5/12). 

At the reception, 12 women-led in Innovative and Ethical Fashion businesses pitched their business to a crowd of investors, government and other relevant stakeholders. At the end of the pitching session, four of them were announced to be the top winners and received USD 25,000 investment from Patamar Capital supported by Investing in Women. The four were uniquely selected via peer assessment model. (Congratulations Astungkara, Kostoom, HeyStatic and Minikiniz!). The event was closed with a warm networking and dinner reception.

This batch is rather interesting for ANGIN team as it focuses on sector that is rarely focused on in other similar programs. We thank the Indonesia Impact Accelerator team for inviting us to participate in the speed dating and awarding ceremony event. Because of this opportunity, we found  many interesting ethical fashion businesses operating across the archipelago, which we have never heard before!

 

About Indonesia  Impact Accelerator Program

Indonesia Impact Accelerator Program is initiated by Kinara Indonesia, Patamar Capital, and Investing in Women in 2016. This is a 4-months intensive capacity building support targeted for women-led businesses in Indonesia. Beyond acceleration, the program also provides USD 25,000 investment for winners, who are interestingly selected via peer selection process.

[RECAP] Nexus Indonesia Salon

NEXUS Indonesia organized its first Salon in Jakarta with theme “Sustainability Check Up & Incubating Ideas on the Workers Safety”. At this event, ANGIN team had the opportunity to mingle with more than 20 exceptional young individuals, who have interest to tackle certain social and/or environmental causes. For the whole night, we were struck by their story and their passion in doing their impactful works; that ranges from educating women migrants, creating alternative solution to plastics, to improving the live of farmers and fishermen.

While these individuals have different backgrounds (from family foundation to social enterprises and business professionals) and aim to achieve a diverse set of impact missions (from women empowerment, environmental protection, to poverty alleviation), their common passion and spirit resulted in an engaging dialogue and fruitful idea exchange.

This Salon was also aimed to support Fahreza & Janhavi from http://www.tft-earth.org/. Through their work, they found that the workers at the end of the supply chain are exposed to dangers to the wild animals, accidents like cuts being hit by heavy fruits. As there is a high no of accident rate, the workers refused to wear the safety equipment. Through this Salon, Fahreza and Janhavi facilitated a discussion on how to address the issue. In the short term, they also plan to organize a hackathon to collect more insightful solution to this challenges. Currently, they are welcoming ideas and support from everyone (Any thought? Feel free to drop comment below!)

Seeing young individuals thriving to make a better Indonesia revived our spirit to create better impact for the country. This event is a refreshing experience. We thank NEXUS Indonesia leader and our very own angel investor, Michella Irawan, for hosting this amazing event and inviting us.

 

About NEXUS

NEXUS is uniting Next Gen Philanthropists, Impact Investors and Social entrepreneurs to encourage collaboration and the goal is to catalyze new leadership in order to accelerate the most promising global solutions of our generations. NEXUS has over 40 Country Chapter (Including Asia – Europe – India – Middle East – Africa and many more ), has over 3500 members, 37 Summits & Forums & 15 working groups and labs that address the different topic & global challenges.

NEXUS holds member interactions to be sacred and safe, which is why solicitation in not permitted. NEXUS events are not transactional; rather they aim for authentic connection and inspiration. Salons are a meet up where members get to deep dive in a topic and its a good chance for likeminded peers to catch up and share wonderful resources like ideas/support/network.

In Indonesia, NEXUS Indonesia chapter  aims to create a Warm & Safe space for Indonesia members and likeminded peers- to cultivate trust by living with a sincere wish to help each other access our best selves and to contribute to the needs of our global community.

[RECAP] Rise Inc: The Right Funding for Social Enterprises

Realizing that finding the right funders and securing finances can be challenging for social entrepreneurs, Rise Inc. organized a workshop titled “The Right Funding for Social Enterprises (SEs)” for its incubated companies. Through this workshop, Rise Inc team shared knowledge on sources of funding and tips and tricks to fundraise.

To even better prepare their incubated SEs, Rise Inc.’s team held a pitching practice for them. ANGIN team had the opportunity to sit in a panel session together with team member of Patamar Capital, Empassion, and Digitaraya. There were 14 SEs who pitch; they come from variety of sectors. The 14 SEs were Dukung.ID, Tenoon, Diffago, Camp on Farm, Ortwo, Cooltura, Jahitin.com, Tanijoy, Studio Dapur, Lactashare, Siswa Wirausaha, Jelajah Garut, Botanina and Melaut.

We thank Rise Inc. team for inviting us. We had a great time hearing the business story and progress of these SEs.

Good luck for all Rise Inc’s graduates!

[CALL FOR APPLICATION] GK-Plug and Play Indonesia Accelerator Program Batch 3

About Plug and Play

Plug and Play Indonesia accelerator program is here to help you to speed up the progress of your startup so you can build a better product in your chosen market. During the 3-months program you’ll get the following benefits:
  • Opportunity to collaborate with corporations
  • Seed funding
  • Direct mentorship and workshops from successful entrepreneurs and industry leaders
  • Up to $60,000 value of free tools, services, and startup programs
  • Opportunity to network with local and international investors
  • 3 months of co-working space in elite area at Kuningan
  • Exposure to media
  • Opportunity to meet regulators
  • Access to Silicon Valley and the global technology community
After the program, you’ll be given a chance to present your startup in front of hundreds of investors, government, our corporate partners, and media.

Terms & Conditions

1. There is no application fee associated with the program.
2. Any late submissions will not be considered.
3. GK-Plug and Play reserves the right to use contents submitted throughout the application process for publicity materials, including but not limited to, Startup Company profile and introduction video.
4. By applying to GK-Plug and Play program, you agree to be a part of the ecosystem, thus receiving invitation and/or updates regarding future events and programs.
5. Decisions in respect of all matters to do with the program will be final and no correspondence will be entered into.
6. GK-Plug and Play reserve the right to change the program timeline at any time, so please check your email regularly for important updates.
7. GK-Plug and Play reserve the right to change these terms and conditions at any time, and by applying to the program, you agree to abide by the most recent version of this.

TO APPLY:

1.  Send an email to nadira@angin.id with the subject “GK-Plug and Play Application”
2. Attach your most recent pitch deck.
3. Send the email!
Applicants with ANGIN referral are given special consideration to the GK-Plug and Play program. We look forward to seeing your decks!

Elsye Yolanda: Operation Chief of GnB Accelerator

Tell us a bit about yourself.

My name is Elsye Yolanda and I’m the Operation Chief of GnB Accelerator.

What’s your story?

Working at a startup accelerator is something that I never thought about doing, because it’s something new for me. I used to work for big corporations in Indonesia. Then I studied overseas because I wanted to have a better job; I did CSR studies in my university, because I wanted to help people while doing my job. I think CSR is very suitable because in corporations, they have money, they help people around them with their programmes. And that’s why it was suitable for me. But when I came back to Indonesia, the reality was different: CSR in Indonesia has a different philosophy. It’s something that you have to do because of the regulations, not because the companies want to do it for the sake of their own responsibility.

At GnB, I get to help small startups at a very early stage. We give them funding and help them through our program. That’s interesting for me; it’s helping people through helping startups.

It took me about 6 months to realize what exactly it is that I’m doing. I went to a conference in Malaysia about changing CSR to CER. CER is “corporate entrepreneurship responsibility,” which is something measured more easily, compared to CSR. It’s helping the startup. The way I see it, the way CSR can help startups is similar to the work of incubators and accelerators.

But of course there is a business in it.

Can you give more context to what CSR is like in Indonesia, and what areas can be improved?

Indonesian CSR…some good companies do it very well, following the true meaning of CSR. But not all companies are like that. Some companies do CSR because of the regulations. The regulation states that some percentage of company profits should be put into a CSR program. And all companies that do something with natural resources, they have to do CSR. The regulation is not very specific, but it makes companies at least have a CSR program. The regulation is also not really in line with the exact meaning of CSR. CSR should be something that comes from the responsibility of a company. Something that companies think that they should do for the sake of people around them, and the loyalty of their employees – because it’s related to the employees as well.

That’s the thing. They are doing CSR only due to government regulation, or somehow, they do it for marketing purposes.

What we can improve? I believe that every company should have their own CSR department, where they really understand what it is and how to implement it.

I interviewed one corporation about their CSR program and asked them, “What is the sustainable CSR program that you run?” and they told me, “Yeah we have a blood donor program as a sustainable program.” They don’t know what constitutes as sustainable and what does not. That’s why I think someone must be responsible to make sure the program and its intended impact are properly thought out. It’s really important.

How does GnB measure the impact of helping other entrepreneurs and supporting them along their journeys?

For startups themselves, because we have just started in 2016, I cannot yet see the whole impact. But when we help startups, we can find how they benefit from the program itself. For instance, they find that their business improved after participating in the program. It’s an impact. It’s a small one, but it matters a lot for the entrepreneurs.

We are helping the startups through investments, of course. But we want to help them scale up, to be excellent in the future. If they can possibly IPO or reach an exit, we want to help them. This is the way we can help in this industry. For me, this is CSR for the startup ecosystem.

As someone overseeing an accelerator program, how do you see the women entrepreneurs compared to the male ones? Is there any difference? Do they struggle with different things?

There are certainly unique challenges for women in the industry. Most of the founders in Indonesia are men. Women have kids but still have to take care of their company – they have a lot of tasks to do.  But I can see that women entrepreneurs in Indonesia are doing it very well. Some of my friends are startup founders, and it seems like that they can balance raising children while running a startup perfectly. I have several women entrepreneur friends, and they are very supportive of each other; the community of women entrepreneurs is strong. Women entrepreneurs face challenges, but they tackle the obstacles together as a community.

I think on the investment side, it’s a bit challenging as well. It takes time to fundraise, it takes more effort to get investors, and somehow you have to meet an all-male investor team. In Indonesia, there is the perception, too, that women are more comfortable if someone is physically accompanying them. On the investment side, it’s not something that you can do, right? You have to pitch in front of men, in a public area, where it’s not your husband. It’s weird for some people. Being a female entrepreneur is challenging because of the culture in Indonesia.

In terms of ecosystem, as ecosystem builder, what things can be implemented for better supporting women in their journey?

In our portfolio and alumni list, we don’t have a lot of women entrepreneurs so far. But I know outside, there are a lot. In the future, we might think about having a program specially targeting women. We won’t give investments yet, as it’s very difficult to source startups for the current ones, let alone for women-only startups. I believe women also look for mentors and connection to investors. It would also help to have more women investors, because women understand women.

Have you faced any challenges as a women in the startup space? Startup space is very male-dominated. How do you navigate that?

They call me mom, somehow (laughs). Like bunda, bunda! Accelerators need more women as well. We are more detail-oriented than men, I can say. The way we negotiate with startups, it has a more personal touch. We do one-on-one sessions, where I ask founders personally what their needs are. It’s very important to have women in accelerator programs, because I cannot imagine if accelerators were run by an all-male team.

Being a woman in this ecosystem is also challenging in terms of networking sessions. For myself — as you know, I’m wearing hijab. When we go to places like clubs (for networking parties with startups), someone might think that I’m not a good Muslim.

Do you have any personal women heroes or role models?

I do! Her name is Monthida McCoole; she’s from Singapore, a former manager at muru-D. She’s now on the investment side, where there are not so many women investors. She understands what I’m doing, and I really adore her. She’s also one of our mentors at GnB. At the beginning when I started working at GnB, she helped me a lot.

Do you have a message you want to share with women or girls looking into the startup space but who are unsure of themselves?

The startup ecosystem is a very open space; they generally never categorize you as a man or a woman (although some do). It’s a good place to start building your own idea; you can do things your way and better in the startup ecosystem. I believe that programs like mine – accelerators and incubators – can help startups and women entrepreneurs. And of course, there are a lot of communities that can help  support women. Don’t be afraid to start. There’s a place for women everywhere, in any business.