Achieving Excellence as ESG Awardee 2023 by KEHATI, ANGIN Advances Impact Investment Implementation in Indonesia

Rama Manusama as Jury (Left) and Benedikta Atika as ANGIN’s representative (Right) (Credit title: Yayasan KEHATI)

Jakarta, ANGIN – In appreciation of companies’ involvement in promoting environmental, social, and corporate governance (ESG) based investments in the Indonesian capital market, Yayasan Keanekaragaman Hayati Indonesia (KEHATI) held the ESG Awards 2023. Among the 3 main categories and 9 sub-categories, ANGIN received the ESG Awards 2023 by Kehati in the Impact Investment sector, under the Facilitator category.

The award was announced at the “Malam Penganugerahan ESG Award 2023 by KEHATI” held at Graha Niaga Jakarta on Thursday (27/7/2023). The winners were decided by 9 competent industry jury members, including Dr. Cyril Noerhadi (Supervisory Board of the Indonesian Investment Authority), Riki Frindos (Founder of Kehati), Demetrius Ari Pitojo, Mohamad Oki Ramadhana, Ariani Vidya Sofjan, Rama Manusama, Chiarina, and Dr. Agus Salim. On that award night, ANGIN’s Managing Director, David Soukhasing, and Investment Director, Benedikta Atika, were present as representatives of the ANGIN team.

The award serves as a motivation for ANGIN to continue its efforts in building a social and impact-driven entrepreneurial ecosystem in Indonesia through its ANGIN Investment and ANGIN Advisory services. ANGIN is fully committed to its role as a strategic bridge between Indonesian entrepreneurs and investors since 2016. Until now, ANGIN has facilitated more than 290 investor clients and provided more than 70 capacity building and consulting programs to advance entrepreneurship in Indonesia. Some of the companies supported through ANGIN’s impact investment services include DuAnyam, Fishlog, BurGreens, BINAR Academy, Eratani, Grouu, Liberty Society, Ringkas, DuitHape, Sampangan, Kitabisa.com, Evo and Co (Evoware).

Recognizing all the distinguished recipients of the ESG Awards 2023, ANGIN conveys its heartfelt appreciation to 12 other exemplary companies: PT Bank Rakyat Indonesia (Persero), Tbk, PT Unilever Indonesia, Tbk, PT BNP Paribas Asset Management, PT Batavia Prosperindo Aset Manajemen, PT Mandiri Manajemen Investasi, and PwC Indonesia (Capital Market Sector); Manohara Bumi Nusantara, PT Miko Bahtera Nusantara (MYCL), Pable, and PT BRI Ventura Investama (Impact Investment Sector); as well as PT Bank Mandiri (Persero) Tbk and PT Sarana Multi Infrastruktur (Persero) (Debt and Project Financing Sector).

Managing Director of ANGIN, David Soukhasing (Left) and Investment Director of ANGIN, Benedikta Atika (Right), Thursday 27th of July, 2023

ANGIN humbly extends its sincere thankfulness to the KEHATI team for bestowing this award as a token of recognition for the unwavering commitment to the ESG and impact investment industry. With the achievement of the ESG Awards this year, ANGIN continues to strengthen its commitment to play an active role in building a positive impact-driven entrepreneurial ecosystem in Indonesia. ANGIN also expresses its gratitude to all investors, clients, partners, and other ESG stakeholders in the Indonesian entrepreneurial ecosystem who have placed their trust in ANGIN through continuous support and collaboration. 

Together, let us move forward to drive the development and implementation of impact investments in Indonesia!

About ANGIN

ANGIN is Indonesia’s first and largest tech-enabled early stage investment platform and development advisory consulting company, working to build a thriving entrepreneurial ecosystem. Our team strives to support Indonesia’s economic development by investing in the next generation of entrepreneurs and by bringing best in class practices to Indonesian early stage investment.

Find us!

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Email: contact@angin.id

Media Contact

Ignatia Kristianti 

Communication Officer

inne@angin.id

For Further Coverage

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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Hacktiv8 Impact Report 2022

This new report is brought to you by ANGIN and Hacktiv8

Introduction

ANGIN is pleased to announce that we have collaborated with Hacktiv8 in producing their impact report!

Hacktiv8, the pioneer of intensive coding bootcamp in Indonesia, has launched their “2022 Outcomes and Impact Report”, which outlines the company’s mission, journey, achievements, and impact on the wider community.

Founded in 2016, Hacktiv8 has over 1,700 full-time bootcamp graduates as of December 2022. Of these, 93% of them managed to get a job in the IT field in less than three months, and gained an average salary increase of 84% compared to their previous jobs. In addition, Hacktiv8 graduates record an average annual salary of IDR 130 million, or 40% higher than the industry standard.

Report Overview

“We are incredibly proud to showcase Hacktiv8’s journey in this ‘2022 Outcomes and Impact Report’. We firmly believe that Hacktiv8 will continue to make a significant positive impact towards the progress of Indonesia’s tech space. Our goal for 2023 is to create over 2,600 job opportunities, generate 2,700 graduates, and expand our network of Hiring Partners to a thousand companies,” said Ronald Ishak, Co-Founder and CEO of Hacktiv8.

 

This impact report was created in collaboration with ANGIN. Should you wish to create your own impact report, please contact ANGIN at david@angin.id!

Recognition

About Hacktiv8

Founded by Ronald Ishak and Riza Fahmi in 2016, Hacktiv8 is a coding bootcamp to nurture programmers and other digital talent who are ready to contribute to Indonesia’s technological and economic growth. 

The three main programs offered are Full Stack Javascript, Data Science, and Performance Marketing. Hacktiv8 graduates will be assisted in getting jobs at hiring partner companies such as GoTo, Bukalapak, Xendit, Midtrans, KoinWorks, Loket, and Axiata Digital.

This impact report was created in collaboration with ANGIN. Feel free to check all our impact reports generated by ANGIN Team at the following link!

Should you wish to create your own impact report, please contact ANGIN at david@angin.id!

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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BINAR Impact Report 2022

This new report is brought to you by ANGIN and BINAR

Introduction

ANGIN is pleased to announce that we have collaborated with BINAR (a digital skills education provider) in producing their impact report

In the 2022 Impact Report, BINAR achieved a number of milestones throughout the year that bring optimism to making Indonesia a global digital talent hub.

2022 will witness a surge in the demand for upskilling and reskilling digital skills, as evidenced by the rising number of students enrolled at BINAR. Hundreds of thousands of learners are leveraging BINAR’s various training programs, such as Binar Bootcamp, Binar Insight, BinarGo!, Workshop, and other partner training programs, to enhance their digital knowledge and skills.

Report Overview

The achievements of BINAR throughout 2022 inspire optimism in Alamanda Shantika, the CEO of BINAR, to make Indonesia a global hub for digital talent. “The accomplishments outlined in the BINAR Impact Report 2022 inspire us to continue presenting the best products and services. We extend our gratitude to our students, partners, and all those who believe in BINAR,” concluded Alamanda.

Take the first step towards becoming a digital talent, enrollment in the various training programs offered by BINAR is available at www.binaracademy.com.

Should you need assistance on building either impact reports or tailored-insight reports, feel free to reach out to ANGIN at contact@angin.id, we would be delighted to provide the support!

Recognition

About BINAR

BINAR is a digital skills education provider that was founded in 2017 by Alamanda Shantika with two other Gojek alumni, namely Dita Aisyah and Seto Lareno. 

As a pioneer in the field of digital expertise, BINAR provides new learning experiences such as Experiential Learning, Flipped Learning, Project/ Problem Based Learning and Collaborative Learning, with the result being digital skills and soft skill expertise that are much needed in today’s era. Through its various training programs, namely Binar Bootcamp, BinarGo!, Binar DTA (digital transformation training for business) and talent placement services (Job Connect). BINAR seeks to support the career growth of high school graduates/equivalents, students, people who wish to change careers (career shifters), and workers who want to improve their capabilities.

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.

Share this to your network

ANGIN Annual Report 2022

ANGIN Annual Report 2022

ANGIN 2022 in a Glimpse!

At ANGIN, we have seen how our best interventions this year are coming from bright minds with the willingness to take meaningful leaps. We have seen first-hand that value-add applied well can build better businesses in this entrepreneurship ecosystem.

Thus, despite the challenging global trends, ANGIN still believes that Indonesia presents the resilience trend as displayed across the region and we are ready to keep moving forward together by 2023.

Delivering this ANGIN 2022 annual report, we are thrilled to share the key highlights of ANGIN in 2022 from our investment platform, ANGIN Investment, and leading consulting firm, ANGIN Advisory!

You can find statistics on the enterprises we have screened and worked on, updates on our publications, and highlights of our events.

Report Overview

In 2022, ANGIN Investment screened more than 2,000 enterprises and showcased more than 50 enterprises to our investor network. Also, we have cumulatively channeled investments more than USD 31,7 million and executed more than 150 investments through ANGIN investor network.

On the other hand, ANGIN Advisory delivered more than 10 capacity building projects and 10 tailored insight reports. Showcasing our footprint by this year, we have trained more than 200 entrepreneurs across 18 Indonesia cities and 18 countries to extend the entrepreneurship solutions.

We thank our clients and partners over the past year, your trust is on the right hand. We shared your values and outcome in excitement and will continue to do so. Let us know if you want to engage with us through our upcoming 2023 projects! We would be more than happy to collaborate!

Download our report to learn more about our 2022 activities.

Contact us for further assistance by reaching inne@angin.id!

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CAKAP Social Impact Report 2021

This new report is brought to you by ANGIN and CAKAP

Introduction

ANGIN is pleased to announce that we have collaborated with Cakap (Indonesian Edtech) in producing their impact report

In the 2021 Impact Report, Indonesian edtech Cakap established several achievements in order to create easy and equitable access to quality education, in line with the UN SDG’s principles. 

Cakap successfully expanded its upskilling initiatives to remote areas across the country, as well as being a government partner to improve the skills of the nation’s human resources. More than one thousand teachers have joined Cakap mitra and have provided more than one million hours of online LIVE courses. Two million more students have received the benefits of learning, both foreign languages, vocational classes and various upskilling programs.

Report Overview

As an edtech platform based in Indonesia, Cakap provides a comprehensive app experience
that brings an optimized and interactive user interface. Cakap’s classrooms from private, chat,
club and group adopts 2-way learning interaction method, as live and person to person skill
transfer process that increases student self motivation. Last year as many as 8,494 modules
were delivered to the students, with high demand vocational courses came from hospitality,
tourism, and marketing. “We understand that Indonesia has a massive potential and we will
always strive to scrape the limits to unleash the true potential of Indonesian talent as a global
citizen.” Tomy added.

Recognition

About CAKAP

Cakap is the leading upskilling platform in Indonesia that provides an online learning application to connect students with professional teachers and experts through video calls and text conversations. Our proprietary education platform enables two-way learning interactions for life skills learners across Asia Pacific. Available on Google Play and App Store to reach different segments of students, because everyone deserves a quality education. CAKAP provides educational solutions with an international standard learning curriculum to provide the best online learning experience. #CakapUntukBangsa

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.

Share this to your network

ANGIN Annual Report 2021

ANGIN Annual Report 2021

Thank You!

The year 2021 has been a challenging but rewarding year for ANGIN. A big thanks to our team who went beyond expectations to generate impact all across the country and also thanks to our treasured shareholders, advisors and clients!

With your support, we were able to do what we do now. We are delighted to share some of the 2021 highlights and tractions from ANGIN Investment and ANGIN Advisory through ANGIN Annual Report 2021. 

You can find statistics on the enterprises we have screened and worked on, updates on our publications, and highlights of our events.

Report Overview

ANGIN Recap 2021 in Numbers

This year, ANGIN Investment met over and above 1000 entrepreneurs through meetings and events. We are also very delighted to channel investments on top of 8,5 million USD through our network.

On the other hand, ANGIN Advisory also generates impacts through delivering 20 projects with the help of more than 50 interns and consultants of ANGIN. Furthermore, over 7 countries are allying with ANGIN Advisory on entrepreneurship solutions.

ANGIN Clients 2021 in a Glimpse

We would love to thank our respective clients and partners for the support throughout 2021.

Thank you for the continued trust you have put in us. Our ongoing success relies on the loyalty and support of clients like you. We are of course, looking forward to an enjoyable collaboration with you in 2022!

Download our report to learn more about our 2021 activities.

Contact us for further assistance by reaching aisha@angin.id!

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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

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.

Share this to your network

Investing in Impact: Opportunities, Implementation, and Measurement

This article is written based on the discussion note on Tinc Investor Networking.

Visit Tinc Investor Networking Main Page here.

Demystifying impact investing myths around low financial return: The future of impact investing and the opportunities

The terms impact investment and social entrepreneurship were coined to define organizations that could reconcile the desire to create an impact while also having a commercial or financial intention. Beyond the intention, these organizations commit to measuring, evaluating, and reporting their impact to drive better decisions and strategies to achieve their social mission. This impact investment generation emerged in Indonesia in the early 2010′s [1]. Since its emergence, there was an underlying perception that impact investing was similar to philanthropy whereas impact investors yield lower financial return compared to commercial investors.

However, most studies report that Socially Responsible Investments (SRI) do not have lower returns than traditional investments. In fact, there is evidence of the opposite; most conclusions point to SRI having higher returns, especially when social impact is taken into account. A comprehensive review by the Royal Bank of Canada looked into over 40 major studies and found that there was no evidence that socially responsible investing resulted in lower investment returns [2]. This sentiment was echoed by the GIIN’s (Global Impact Investing Network) 2017 Annual Impact Investor Survey [3], which found that the majority of respondents achieved market-rate returns, with 91% claiming their returns met or exceeded their professional expectations.

A survey by Morgan Stanely released in 2018 [4] mentioned that 76% investors believe that a perception remains among some investors that sustainable investing requires a financial tradeoff, However, they claim the opposite, where 87% of respondents believe it is possible to achieve financial returns alongside a social or environmental impact. And 62% go even further, agreeing that it is possible to maximize returns while investing sustainably.

This perception was echoed by investors that participated in the Tinc Investor Networking Day:

Profit and purpose are not separate but complementary. Although we do not identify ourselves as an impact investor, Investible is exploring the idea of implementing a sustainability lens for our forthcoming fund.
Reena Sharma
Investible

Reena Sharma, Vice President of Investor Relations at Investible shared that Investible’s investment decisions are made based on financial performance for the company, while impact is used as an additional filter after an investment passes the desired financial profile. 

Beenext’s Partner, Faiz Rahman also added that there is an opportunity to maximise profit while implementing an impact lens. 

Beenext believes that scale has to come first and a good business is a business that directly tackles real problems in the society, thus creating impact. If the market is big enough for the business to scale and gain financial return, that means the impact created is also bigger.
Faiz Rahman
Beenext

Rexi Chritopher from init-6 fund shares the same value that Impact investing is a mindset: any startup that is challenging the status quo is working on creating impact.

Nowadays, most people are more aware of impact, for example with SDGs. In an optimistic lens, this is a great momentum for impact investors, especially because the new generation of founder is more aware of the importance of impact, hence apply it into their business.
Rexi Christopher
Init-6

Emphasizing on the context of “invest” in impact investment, it is necessary to distinguish impact investment from non-profit practices, such as donations or grants. The investor attendees on Tinc Investor Networking agree that financial returns and performance are still  key considerations behind impact investment decisions. This means that there is a fundamental distinction between for-profit, non profit, and for-profit with social mission, in which impact investment falls for the latter.

Measurement of Impact and ESG

Impact investments, as defined by GIIN’s (Global Impact Investing Network), are “investments made with the intention to generate positive, measurable social and environmental impact, alongside a financial return” [5]. The word ‘measure’ plays an interesting role in this ecosystem. As an investment is repayable finance, investors will want to see the evidence of financial return and revenue from the business. 

Yet in impact investment, the responsibility doubles up; both social and financial return are to be expected. This is what differentiates impact investors from mainstream investors or traditional funds. Impact investors want to know how investing into a business will enable them to create a positive impact on society, and in order to know, one has to measure.

"Impact investors share several core characteristics, including the use of evidence and impact data in investment design, the commitment to measure and manage impact, and the intention to pursue impact alongside a financial return."
GIIN, State of Impact Measurement and Management Practice (2020)

Measuring impact is indeed a complicated process, especially for early-stage business or startups. However, Kejora-SBI Orbit stated the importance of having at least one dedicated ESG officer that can measure impact within the scope of Environment, Social, and Governance (ESG). This statement is echoed in The S&P 500 ESG Index: Defining the Sustainable Core [6] as a signal of evolution in sustainable investing, built to underlie strategic, long-term mainstream investment products.

As Kejora looks into this index, they found out: impact investment actually follows where the money is.

Having a good impact is actually a good business. Meaning, companies that are more ESG compliant tend not to cut corners and therefore in the long run have possibilities to perform better. These companies are also more socially responsible and well-managed; these are the companies that investors want to invest in.
Kejora-SBI Orbit
Representative

ESG is an increasingly popular tool of measurement when it comes to sustainability efforts, and also to giving companies a space for improvement. Yet in practice, no matter how sophisticated the tool is, measurement is much easier at capturing quantifiable inputs, than complex and intangible outcomes, such as impacts [7]. For this reason, Kejora believes that in order to comprehend the outcomes and impacts, investors also need to go the extra mile to fully grasp the internal process. This starts with the due diligence process, and continues by using a method and metrics to measure impact within the portfolio, because it is necessary to capture the input-outcome-impacts, without assuming causality.

Since there are no uniformly accepted metrics, Beenext also sees that measuring impact requires doing more than just ESG measurement. In particular, Beenext emphasizes that impact investors have to be able to have skin in the game, put themselves on the field, and improvise with more grassroots practices.

We have to talk to startups directly and try to understand their business, mission, values, drive, and goals. Impact investors need to understand where the business is coming from and the core problem that they are trying to solve or disrupt.
Faiz Rahman
Beenext

Demands for ways to measure impact continue to grow and mature alongside the impact investing industry. According to the GIIN report on Impact Measurement and Management Practice (2020), over the past 2 years, the impact investment industry has greatly expanded its suite of approaches to measure impact; from data collection, aggregation, comparison, impact valuation, and benchmarking of impact results. Besides ESG, many tools and frameworks have been developed to help impact investors measure their impact, as seen on the figure below:

Most investors can use more than one framework, the common average is three. This development represents significant steps toward enabling investors to transparently and reliably measure and manage their impact [8].

Role of incubator and accelerators in the investing in impact scene

As one of the first “open door,” incubators and accelerators plays a critical role in developing a startup founder’s mentality regarding impact and business. As stated by Jockie Heruseon, VP Business Development of Telkomsel, incubators and accelerators also have the power as a gatekeeper; to set impact and social contribution as standard in the business ecosystem.

Accelerators and incubators have an important role to provide support, especially for very early stage (often pre-revenue) startups. Heruseon from Telkomsel shared his insight from years of experiences in the startup ecosystem;

Many startups from the early stage have trouble increasing the size of their operations to expand their impact. As they attempt to scale, they often struggle to reach more customers, attract talented human capital, and lock the right types of funding. At the same time, impact investors are interested in supporting these startups, but often have trouble finding investment-ready impact startups.
Jockie Heruseon
VP Business Development of Telkomsel

Telkomsel, the parent company of TINC has taken up the space on supporting the startups and companies to integrate in impact by creating NextDev platform. NextDev is an early stage digital startup search and development platform in Indonesia that is oriented towards social impact. The program ranges from competitions to incubator programs like the NextDev Academy as well as  the NextDev Summit.

Through similar programs, that are also encouraged by Tinc, founders can be introduced to open their mindset and integrate impact and sustainability lens as well as understand the benefit and importance of good governance that is advocated by the ESG. This will also allow startups to identify like minded investors to actually support and amplify their impact.

Resonated by The Rockefeller Foundation’s report on Impact Enterprise Acceleration, this is where accelerators and incubators like TINC are able to contribute as sort of a “matchmaker,” ensuring downstream impact VCs funds or other investors have access to a good deal-flow of investment-ready opportunities [9].

Looking to the Future

The impact business and impact investment extended its wings to emerge as a new conception of “Investing in impact,” where this impact becomes an arbitrage, an opportunity, a “new normal”– the smart investment to do on top of the right business and investment strategy [10]

Each player in the startup ecosystem has its own role, and therefore its own power. Investors provide the capital and the fuel, while incubators and accelerators play key roles in educating and building the mentality of the founders. All roles are equally crucial in the development of the whole impact ecosystem. 

In the future, we hope to see more incubators and accelerators occupying the impact space to create a supportive environment for impact driven startups and impact investment practice can grow.

We see that with the current trend, we will see a shift of mindset where impact is no longer a type of investment; but impact is investment.
Akhil Adler
Moderator

End of article.

Participating investors in the discussion:

Reena Sharma
VP Investor Relations
Investible

Faiz Rahman
Partner
Beenext

Rexi Christopher Investment Associate
Init-6

Jockie Heruseon
Vice President
Business Development

Kejora-SBI Orbit
by Kejora Capital & SBI Holdings

This article is brought to you by:

Writer

Writer

Moderator

Aisha Nadira
Partnership Engagement Lead, ANGIN

Yohana Parida
Partnership Engagement Associate, ANGIN

Akhil Adler
Ex-Investment Analyst
Teja Ventures