[RECAP] A Pre-Conference Dialogue for The 2018 ASEAN ANGEL ALLIANCE SUMMIT

In conjunction with the ASEAN Angel Alliance Summit (AAA) 2018 that being be held in Malaysia on 27-28 November, a parallel pre-conference dialogue was organized one night before as a roundtable discussion to allow for a frank and interactive exchange among country representative of each member state in the region.

ANGIN Team represented by David Soukhasing (ANGIN Director), Valencia Dea (ANGIN Principal) and Feby Ramadhani (ANGIN Advisory Consultant) attended the pre-dinner alongside Ibu Noni, the President Director of Bluebird Group. It was a great opportunity to have a dynamic discussion for the success of the event with people and some old friends from Vietnam, Cambodia, Myanmar, Thailand, Singapore, Philippines, and Malaysia.

Some key issues discussed at the dialogue were the ways to strengthen regional collaboration and promote cross border angel investment between AAA members in ASEAN region, the feasibility of making ASEAN Angel Alliance Summit as an annual signature event for AAA, and the joint mechanism to organize future AAA Summit.

The AAA is essentially a collaborative platform for angel groups and other early stage ecosystem players operating within ASEAN member countries to cooperate and work together on activities of mutual benefit. The Summit is poised to attract more than 200 delegates including angel investors, ecosystem players, government agencies, and entrepreneurs from across ASEAN.

We are very much looking forward to the ASEAN Angel Alliance Summit (AAA) 2018 and contribute more in the advancement of angel investment collaboration in ASEAN region.

Let’s find more information and documentation of the event at www.ASEANangel.com.

[RECAP] ANGIN Partnered with The Asia Pacific Foundation (APF) of Canada event “#TrainingDay: Helping Your Small Business Grow in Indonesia”

ANGIN had a great opportunity to support, as a community partner, The Asia Pacific Foundation of Canada training event for MSMEs and entrepreneurs hosted by BLOCK71 Jakarta on November 21st, 2018. The training goal is to introduce relevant Canadian best practices for small businesses through workshops conducted by Canadian trainers (provided by APF Canada) in Indonesian practioners on MSME business development.

David Soukhasing (ANGIN Director) was invited to open the training day and emphasized how much this training was in line with ANGIN’s core mission and activities. ”ANGIN strive to provide key services to both investors and entrepreneurs to make sure that investors are enabled to invest with best practices and more importantly that entrepreneurs manage to get access easier to funding with the right terms and timing, in full transparency. I would like to remind how ANGIN also has pioneered to support women entrepreneur and women empowerment. We are a strong believer that women entrepreneurs do represent a force of change and development for any country. This is why we have included several dedicated programs or gender inclusivity parameters to most of the work ANGIN is doing, and several of them were strongly supported by Canada”.

In this training, Valencia Dea (ANGIN Principal) also shared her presentation about Financing for SMEs. As many SMEs feel constrained to access external financing from traditional sources, there are other non-bank alternatives that address their barriers, such as funding leveraging financial technology (crowd funding)or Peer-to-Peer (P2P) and others types of investors such as Angel Investor, Venture Capital, and Impact Investor. Valencia Dea also presented her analysis about pro and contra and also some tips for getting funding from each of these non-bank financing alternatives.

This training session also announced the launch of an online toolkit (developed by APF Canada for Indonesia) for MSMES’key business capacity development needs and a training on MSMEs could use it. Please check the toolkit here : https://apfcanada-msme.ca/toolkits

In addition, the APEC-Canada Growing Business Partnership has launched the 2018 Survey of Entrepreneurs and MSMEs in Indonesia: Building the capacity of MSMEs through Human capital – A national survey of entrepreneurs and micro, small and medium enterprises (MSMEs) in Indonesia to provide an analysis of business development in the region, and to better understand the opportunities and challenges faced by Indonesian MSMEs and aspiring entrepreneurs around human capital. The survey report is broken down into three major sections focusing on company and entrepreneur profiles in Indonesia, growth plans and barriers to growth, and challenges and opportunities related to human capital. Each section also identifies age, gender, and industry-specific data and trends.

Let’s find more information about the research result and The APEC-Canada Growing Business Partnership by clicking this link.

 

[RECAP] ANGIN attends ChangemakerXChange Vietnam Summit 2018!

ANGIN is proud to have been selected to attend ChangemakerXchange Vietnam Summit from November 8th to November 12th 2018. The summit – co-created by Ashoka and Robert Bosch Stiftung Foundation – marked ChangemakerXchange’s first ever women’s summit, and congregated 14 women leaders from all over Southeast Asia to ideate, co-create, and learn from one another. Upon completion, participants enter a network of over 500 inspiring young social entrepreneurs across 90 countries – all trying to make the world a better place. Due to her work leading ANGIN’s Women’s Spotlight and Connector.ID, Meredith Peng (Senior Consultant) represented ANGIN at the summit.

During the summit, Changemakers learned from one another about various leadership frameworks and strategies for accelerating their own ventures and projects. Each participant was able to offer their own skill sets to the mix. For instance:

  1. Meredith Peng, on behalf of ANGIN, hosted an Investor Shark Tank session to help coach the social entrepreneurs present on their pitches and business models, as well as investor readiness and strategies going forward.
  2. Nattinee Dora Sae Ho, founder of Kid Hero (Thailand), offered various leadership frameworks and strategies. Building trust within teams is first and foremost for any organization to expand, and trust is often a process. By forging pathways for team members to succeed at tasks, managers can create smaller increments of trust until a high enough threshold of trust is achieved. Underlying all of this is the motive of leaders – why are leaders behaving the way they are? This is vital for all teams to work together with trust.
  3. Wan Wei Soh, founder of IKIGUIDE (Singapore), hosted a session on using Blockchain technology for social impact. Through understanding the basics of Blockchain and cryptocurrency, participants were then able to understand real world applications of the technology. Blockchain can be a powerful tool for social entrepreneurs who wish to raise funds through ICO or as a means of crowdfunding projects by decentralizing investment.
  4. Greta Rossi, Europe and MENA coordinator for ChangemakerXchange and founder of Recipes for Wellbeing (Italy), taught a session on non-violent communication and applying this method of communication to teams to mitigate and deal with conflicts
  5. Jiezhen Wu, Director at The Hidden Good (Singapore), hosted a session on content creation and storytelling.

Participants were also encouraged to think about their own wellbeing, mental health, and motivation. Failure and burnout were two relevant topics for many participants who face pressure and stress from running ventures. The summit emphasized the importance of emotional wellbeing, expressing gratitude, and practicing empathy in everyday life.

ANGIN is happy and honored to have participated in a summit full of amazing changemakers throughout Southeast Asia. We remain committed to promoting entrepreneurship throughout the ecosystem and hope to bring lessons from the summit back to Indonesia for all entrepreneurs from all walks of life to learn from.

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!

Marianne Rumantir: CEO of Member.id

Tell me a bit about yourself.

My name is Marianne Rumantir and I am currently the CEO of Member.id. Member.id helps businesses create great value for their customers by providing end-to-end loyalty solutions. Our mission is to change the loyalty landscape in Indonesia.

I come from a diverse background; I studied Communication and Advertising at university and ended up working in the corporate world, I was in corporate communications for several banks for about four years. Then I started a family.

As someone who is a career chaser it was very hard, especially because I was living overseas with no support system. So I started my own business back in 2009. My first business was a restaurant that I started with some of my friends in Melbourne. That restaurant actually still exists; it’s been there for the last 10 years. We expanded and opened up a few more branches, expanding to the US. This led me to move to Los Angeles, California.

While abroad, I would always get requests from others to buy them something and bring it back. You know, with Indonesians every time you hear someone is traveling overseas, you’re always asking, “Can you buy me something?” (laughs) That happened to me a lot. I’m actually not a big shopper, but I thought that I could actually make a business out of this. That’s how I started getting into technology. I established an e-commerce business where I would shop US products for Indonesians for a small fee. I had to use my credit card quite frequently because of this, so I ended up collecting a lot of points. From there, it kind of became my obsession, because I found out that I could actually use my points as a currency.

I’ve always had a passion for travel. At the time, I’d never been to Europe and I had no budget as a struggling business owner. And it wasn’t just for me — I had a family to consider as well. I did a lot of research and apparently there are a lot of people in the US that use points to travel everywhere; they can even upgrade to luxury cabins using points. I became obsessed in reading all these blogs, learning about how to travel hack.

When we finally flew to Europe, we basically spent nothing. We flew business class and we stayed in a luxury hotel for free. Combined, we had accumulated over 500,000 worth of points every year. Everytime we went on a holiday, it would be for free. I started sharing these points experiences online, creating a points-hacking blog targeting Indonesians.

Then, I started exploring about the Indonesian market and found out it was quite feasible. I was introduced to Edy, now an advisor at Member.id. Edy actually offered me a role at his other company. He said, “Why don’t you come back and work with us where you can bring some value?” I immediately told Edy yes to Member.id though, but I told him that we would need to change how people perceive loyalty programs in Indonesia. My initial idea wasn’t commercial. I wasn’t trying to make money. It was about how can we help Indonesians do the same thing that I could do back in the US.

I came back last year and then we took it from the ground up.

How is it like to be a pioneer in the loyalty space?

We are trying to take advantage of being the very few players who provide these services. This is why we cater to a very specific, niche market. At the moment, our clients are all mid-market to large enterprises, because a lot of them require some sort of customization. When you go to other smaller companies, they don’t really do any customization because there is one product for everyone, which is another product that we are developing at the moment.. For us, one selling point is that we can hit different kinds of verticals. That’s why we have clients ranging from hotels, retail, lifestyle, food and beverage. We’ve always believed that no one size fits all. After all, the way you create a loyalty program for hotel clients and F&B is completely different.

We’re very grateful that we’re one of the first ones. There will always be new companies in the industry, so it’s good to be the benchmark for others, right? It’s also been a blessing for us to be the first, because client acquisition becomes easier. We stopped looking for clients because we get so many from referrals. It’s a great testament of our services from existing clients that they would actually recommend their contacts to use us. I’ve never really thought of us as pioneers, but I want to take that as an advantage for our company to grow even faster and to hold the biggest market share.

What challenges have you faced as an entrepreneur?

When we first started, pricing was a huge challenge. Many were not familiar with our service, and didn’t understand why they should pay so much for a service that they had no idea about. Our response was to provide value to clients and prove to them that our pricing is worth every penny. That’s why we are quite big on the data team, because a lot of clients sit on a tremendous amounts of data that aren’t being used properly. That’s where we bring value. We can help you analyze all these transactions, create insights, craft targeted promotions, and ultimately increase sales.

As a woman leader, I’ve never really experienced anything too extreme. Most of the time I feel like women have achieved a place in the startup world, even though I know that looking at statistics women still make up a comparatively low number of startup founders. It’s very rare to find women entrepreneurs. But compared to the US, we’re doing better. I know for a fact there’s a big wage gap between men and women in the US. However, I remember working in an Indonesian company, and between myself and another male sharing the same position, we were paid the same. Here, it’s more of a position and level gap than a gender wage gap.

Back then, when people heard about startups and tech companies, there was this perception that you need to be an engineer, right? It was a man’s world, and if you didn’t know how to code, then forget about it. Whereas these days, startups are all about creating disruptive businesses – who can be the most innovative, who can achieve the best product-market fit, who are the founders. So expectations are different as well.

As a female founder, how can you create your own niche and get started?

So you can be a health freak for example. Maybe you want to change people’s behaviors and increase the amount of exercise people do. So it’s not just about coding and programming; it’s everything else. There are many female entrepreneurs in the travel industry and the beauty industry, for example. That’s what I like about the startup world. It’s open. You’re not just creating code or making mobile apps. It’s the whole package. But it’s also the perception and message that we need to create for all women out there to say that hey, the door is open. It’s open for everyone.

Are there any benefits to being a woman founder?

In a way, yes. Since statistically there are fewer women founders, you actually get noticed quicker. But that’s not what success boils down to. It really comes down to your leadership style. And I think women have a definite advantage when it comes to that. We have more empathy. It has its pros and cons of course, but I’d like to think that as a woman I can understand people’s situations better. For example, we have an employee who is also a mother. I would understand if she needs to take time off because she has to look after her family. I also understand that even men who have kids who want to go home early should be able to as well, because they need to spend time with their kids. I always strive to make sure that our company culture is healthy, that our employees know that, look, you are supposed to work hard, but that doesn’t mean that you neglect your other obligations.

How do you balance your time as a founder, a mother, and a family member?

The key is: it takes a village. So I do have a good support system. If I were doing this overseas, I wouldn’t be able to achieve what I’ve achieved right now. In comparison to what I’ve achieved over the past one year here, I’d probably only be able to achieve it in three years overseas. Living overseas, I didn’t have a support system. I have no family overseas, and hired help would be too expensive. Whereas here, the support system is very strong so I get to go to work without having to worry about picking up my kid at the daycare or something. That’s one element.

Second, the most important thing to survive is to make sure I myself am happy. I know that a lot of mothers always put their family’s needs above they ended up neglecting themselves. I’m not saying that’s wrong, but we’re also in charge of our own happiness, right? If we know how to make ourselves happy and content then our families will also feel that positivity. I still socialize and work, but I have my own time at night and on weekends with the family. And of course the weekend is for catching up on sleep. I guess it’s all about quality. It’s not quantity. Making sure everybody gets enough time. As a result, the aura I bring in at home and at work and everywhere, it’s always positive. Then again it takes a village. I can’t do this alone.

What did you learn from failure?

My background has always been working in a corporate world, right? And so I had always been an employee. Growing up, I never thought I would ever run my own business because my parents are all professionals. I mean, I don’t have a trust fund. So I was taught that as an professional, you have to climb the corporate ladder to progress in your career.

I’m actually the only person in my family who is pursuing entrepreneurship full-time. I’m kind of a rebel. I am the risk-taker. Thankfully my husband has the steady job, so even if I failed, at least we could still eat. Honestly, the first six months to a year — that was a big struggle. I almost quit my first business because I wasn’t getting paid monthly, and it was definitely less than the amount that I used to get from my corporate salary.

It was a big struggle for me, but the thing that made it sustain is because I have a good business partner, my business partner came from a background of entrepreneurs. So he was the one who motivated me and told me I needed to be patient and persistent and to just do our best. So he was the one who believed in our venture, and that’s why we continued to expand. Not all of the expansion was a success. But that didn’t mean that we had to stop.

And I’ve learned that in order to succeed, you can’t do it by yourself. You need a team and you need a business partner because otherwise I don’t think you can handle all the hard stuff on your own. When you face issues or problems, sometimes you can’t think of the solutions all by yourself.

I may not be the person with the most brilliant ideas in the company,  that’s why we like to hire a lot of smarter people. My job is to be able to facilitate all these people so that their ideas can come to life. That’s what a leader should do. When you manage something, it doesn’t mean that you have all these great ideas all the time. What you need to do is to facilitate others. Again, the failures that I’ve experienced were largely because I did not have the right team. That was my lesson.

What are the ingredients for the right team? For the right business partner?

You need to find someone who complements you. Don’t find someone who is exactly the same. At the moment, our senior management team all have completely different specialties. I’m more on the external side, like marketing and business development. Robert is more the data/insights person and he’s very good at strategy. All three of us have completely different specialties, so we would complete each other, right? Every time we are facing issues, we can work together to think about what’s next. It’s a good combination when we put our heads together.

Do you have any role models?

I always say that my mother is my idol. She has been a professional all her life, but I feel like I was never neglected by her despite of how busy she’s always been. I have always seen her as someone who knows how to balance things. She knows her priorities. In terms of leadership, I like to see different types of people leadership. I like to follow Arianna Huffington and Sheryl Sandberg for womens’ rights heroes. I like to combine lessons from all of these women and decide what would best apply to me. I don’t think one person’s leadership management is something that I can exactly copy. So I just try and follow different types of leaders to see what would fit my style.

How would you describe yourself as a leader?

I’m a very open person. That’s why we don’t have doors in our offices. I want people to be able to talk to me anytime. Whatever position you have, whatever department, whatever your specialty — if you feel like you have something that you know bothers you, if you’re not happy then you can come talk to me. I want to maintain that open culture. Second, I want to make sure my employees are happy. This is why I like having a lean company, because I know each one of my employees personally. I want to know what makes them tick, what makes them happy, and how I can help them grow professionally. I don’t micromanage, but I know exactly what everyone’s doing. That’s why we have alignment meetings regularly, because I want to know what people are doing without stepping on their toes too much.

Are you the only girl in the family?

I’m the only one — I have two brothers. Maybe it was because I was raised by a working mother, I was never expected to become a stay-at-home mom. I’ve always wanted to work. Like I said, I’m probably the only rebel in the family who took a big risk with her career through entrepreneurship. I see it as a way to set a good example, at least for my nieces, you know, and for the other extended family. I want them to know you can actually make it as a working mother as long as you know your priorities.

Do you have any advice for other girls who want to start their own businesses?

Looking back at my experiences, the fact that I didn’t start my own business straight out of school was a good lesson for me. Because through my professional experiences, I’ve learned how to become part of an organization first, to kind of build my career up from the very bottom. So I know how it feels like, being at the lowest level first, and then how it feels like to collaborate with other people and how to have a boss. Having mentorship is also important because I know these days a lot of younger people start their own businesses straight out of school, so they lack mentors. I mean, it’s not a wrong way to approach entrepreneurship. It’s just that for me, I had a better learning foundation. Either way is fine, but for me, it’s better to gain experiences not as an owner but as an employee, so that you know how to treat your team.

Eileen Kamtawijoyo: COO & Co-Founder of Populix

Tell us about yourself.

My name is Eileen Kamtawijoyo. I am the co-founder and COO at Populix. I met with my co-founder, Timothy when we were studying at the University of Cambridge. I was doing my master’s and he was doing his PhD. When I went back for good, I worked at Djarum’s new business initiative, which is their fast moving consumer goods company. Since there were a lot of product concepts that needed to be tested, I found out how market research in Indonesia is very costly and inefficient. Not only does it take a very long time, but the data quality is lacking as well.

When Timothy came back to Indonesia for good, I had already been working with Djarum group for around two years. We were just sharing ideas and brainstorming together, and he was telling me about the advancements made in academic research abroad. Suddenly, we thought maybe there was something we could do to solve the problems here in Indonesia’s market research space.

Around three to six months after the initial conversations that we had, we jumped in and started the journey of building Populix together. Populix itself has been established since December 2017, but we just started running operationally in January 2018. During the 9 months of Populix’s existence, there have definitely been many ups and downs. However, everything has been very worthwhile; so many learnings took place that forced us to stretch beyond our comfort zones and beyond our capabilities imagined.

Populix is a technology-enabled research startup. We are building a consumer insights platform that bridges companies and survey participants. Participants can come onto our platform, register themselves, and fill out their data: their age, their income level, where they live, etc. They are then rewarded every time they participate in a study. Meanwhile, researchers also come onto our platform looking for participants of their target market. They can conduct the survey and have real-time data analysis in their dashboard. In the future, researchers can also buy off-the-shelf data sets from our library or subscribe to these reports on a periodic basis.

What did you find the most challenging as a first-time entrepreneur?

Back then, we were both effectively managing directors, because literally we were managing everything from the very little things to grander things like strategy of the company. You begin to remember the things that you took for granted when you were working in a big company, and you finally realize how much effort it takes to create your own thing. You won’t realize it until you experience it for yourself.

Another challenge was in terms of skill sets. I needed to learn a bit more about finance; back then, I really had no professional experience on finance. So I took some online courses and watched YouTube to teach myself. It’s important so that at least you can have some sort of a financial statement for you to present to the venture capitalists and stakeholders you’re sharing it with when you’re fundraising.

And then there was product development. Timothy and I are both not really tech people. We really have to try our hardest, even up until now, to learn how to communicate with developers, familiarizing ourselves with the different programming languages that we should use, and the reasons why.

We’re still learning as we go. It’s been difficult, no doubt.

What makes you want to continue being an entrepreneur, then?

Well, I’ve always wanted to become an entrepreneur. I feel like it’s so much more rewarding; when you see something that you created yourself — your own vision — coming to life, it gives you a deep sort of satisfaction within yourself. It’s truly rewarding.

And the deeper I go on this journey, I feel that same rewarding sense. It’s just a matter of setting up a strong mentality from the get-go. After all, it’s going to be tough. But you just need to persist. You just need to persevere.

What do you look for in a good co-founder?

I think what makes a good founder is that first you need to know what are the skill sets that you already have — what are your strengths? With the other co-founder, you want to have him or her fill in the gaps or weaknesses that you have, so that you can complement each other. For example, maybe I have more of a reserved personality, while Timothy is more confident. It balances well when we meet with investors or when we are presenting our startup.

What’s more, you both must really believe in this idea. At the end of the day, everyone is going to be against you — even your family and friends. This is vital since there will be times when you may be questioning yourself as to why you are doing this, and to have that someone who can keep rooting for the idea and to keep up the momentum will help you push on.

How is it like to be a female founder? Any advantages or challenges?

So far, it’s been good. I believe that in any organization it’s good to have a balance between males and females because diversity brings richer discussion and richer perspective.

I feel it’s actually advantageous to be a female founder in a way; whenever I was applying for our startup to pitch in competitions, for example, it always have women founders are strongly encouraged to apply, something like that.

I also know that there’s also a lot of organizations who actually are supporting startups with female founders. For example, in the US, you have Melinda Gates setting up an institution to fund women founders. So I think in a way it’s good. I don’t feel like any discrimination or whatsoever. I actually feel encouraged because women are being seen and supported now.

How was it like to be a female employee versus being a female startup founder ?

Perhaps, I just share a bit of my experience. After graduating from my Bachelor’s degree, I was working at Campbell’s Soup in the US, as R&D (research and development). Our CEO was female. It was really empowering for me to see how females can hold such important roles and leadership positions.

And then when I was doing my masters, I found a lot of female PhD candidates, working on amazing and groundbreaking theses.

So, I felt far more encouraged after these experiences than when I was younger. I grew up in a traditional Chinese family, where women are not necessarily encouraged into leadership positions. For instance, higher education and completing a PhD may not be recommended by my parents, since it may result in difficulty finding a spouse. Nevertheless, I feel my journey has been truly blessed, since I am constantly surrounded by many strong female personalities that all encourage me to follow my pursuits.

Do you have any role models?

I don’t have just one per se. I really like Jack Ma; he is really someone who went from zero to one hundred, making it super big. It makes me think that you can’t complain. Like this guy has been through worse. At least I have the advantage of education and having a supportive family. So what’s my excuse? I also really respect his grit and his tenacity of never giving up. He always shares stories of how he pitched countless times, got rejected, but kept on going. I really admire that of him.

Where do you want to be in 10 years?

I really want to make more of an impact, not just in terms of business but also social impact. Maybe I can assume a role in the government sector. Who knows? I want to be a part of shaping Indonesia for the better, for future generations to come.

Do you have any advice for other young women who are looking to start their own ventures or dive into entrepreneurship ?

My personal advice is to first find out what your passion is. It may sound cliché but there are going to be tough times ahead, so you need to really enjoy what you do. Then, really just dive into it since I believe that if you have the will, you will find a way.

And of course, putting in all the hard work, the long hours, and having the curiosity to keep learning is vital. Since there are so many things that we will never know, you need to constantly have that hunger to continuously learn. And meet a lot of people, because you will learn a lot from them. Ask for their advice – don’t be scared to ask questions. In a nutshell, be a lifetime learner, network a lot, and continually persist.  

ANGIN’s Angel Investor: Mardianto E. Danusaputro

Welcoming our new Angel, Mardianto E. Danusaputro

Mardianto E. Danusaputro is Chief Executive Officer of Mandiri Capital Indonesia (MCI), the corporate venture capital subsidiary of PT. Bank Mandiri (Persero) Tbk. MCI aims to provide equity funding for regional start-ups, with focus on the fintech sector. Eddi has more than 20 year’s working experience in various sectors, including consumer goods (at Procter & Gamble), management consulting (at AT Kearney and Booz Allen Hamilton) and financial services (including Morgan Stanley), whereby the majority of his work experience was in Singapore. In addition to working at large corporations, Eddi also has experience as an angel investor and social entrepreneur. Eddi graduated with a Bachelor’s degree in Economics from Gadjah Mada University in Yogyakarta and also has a MBA degree from Duke University, USA and a Doctorate in Management from Universitas Indonesia.

ANGIN Women’s Spotlight: 50 Stories, 50 Woman Leaders in Indonesia

ANGIN Women’s Spotlight is proud to publish our 50th story highlighting the achievements and addressing the challenges of female leaders in Indonesia. To commemorate our milestone, we are releasing a mini-report detailing our project thus far. The report combines our project data with insights from Connector.ID’s data analysis to draw insights on the Indonesian entrepreneurial ecosystem through a gender lens. Check the report out now!

To nominate an outstanding woman for woman’s spotlight, kindly fill in the nomination form.  All partnership requests and collaborations may also be sent to Meredith at meredith@angin.id.

Download Our Report

Disclaimer: The data in the report is based on applicants who have submitted fundraising requests via ANGIN and Connector.ID. It is largely self-reported data or data based on the information provided from individual pitch decks. 

Anda Sapardan: Co-Founder of Sehati & TeleCTG

Can you state your name, your position, and your company?

My name is Anda Waluyo Sapardan. I’m the cofounder of Sehati & TeleCTG and in charge of the operations of the company. I’ve been in the medical industry for over 12 years. I’ve managed hospitals before, and I’ve worked in a general hospital as well as a maternity hospital – hospitals specially for women and children. Sehati and TeleCTG are products of passion — it all started from our concern with the quality of health of the next generation of Indonesia actually.

First of all, we are lucky that we have all the things that we need. We get access to information and to hospitals and healthcare. Not many Indonesians have that opportunity. So our concern is about how to provide equal opportunity — at least for information and for access to good maternal healthcare. And that’s where Sehati and TeleCTG come in.

Sehati and TeleCTG are technology solutions to track and monitor the first thousand days of human life. What we do are promotive and preventive measures. We try to provide early detection and warning of risk factors that could cause maternal death, infant death, as well as help to prevent stunting from the very beginning. A happy and healthy pregnancy is the right of every woman. Every woman should experience a very calming and happy pregnancy, since it can affect the outcome of birth and of the woman’s own life.

With technology, it’s easier for people to access information; even in remote areas, as long as you have Internet connection you can gain access. However, technology or innovation won’t reach its optimum utilization if we don’t empower humans themselves. So we tap into that as well.

What inspired you to start your own venture? What made you want to create something of your own?

It’s a bit crazy, because actually my husband and I, we sacrificed quite a lot to start this. We already had a stable income, stable jobs, everything we could have asked for. But the feeling of personal responsibility was too great. The rate of stunting in Indonesia is quite high. It’s like 37 percent of all the children. Just imagine the social burden of our own kids in 10 or 20 years from now. I gave birth to my eldest at a very young age. I was 19 at that moment and I experienced a wonderful pregnancy. And we feel that everybody should have that kind of experience. We feel that family planning and good monitoring during pregnancy is crucial. So that’s actually what really drove us to do this, why we chose to start our own business rather than continue working at the hospital. If we just worked at the hospital, then only the patients of that hospital will get any benefit. By doing this, we can reach far more people.

Have you faced any challenges as a female entrepreneur?

Not at the moment. Not really. It’s just that now I’m in the tech industry, and there are not too many women involved in this field. But it’s a good learning process. Actually, being a female should not deprive you or limit you from being an entrepreneur. As long as you have good intentions and and are willing to work your ass off, I think it is manageable.

Speaking of the lack of female entrepreneurs in the tech space, is that also true of the healthcare space as well?

Actually no, there are many women involved in healthcare. Our aim is to reshape how health services are being provided. Our long term vision is to make community-based healthcare and empower midwives, who are our partners in doing all of this. In Indonesia, midwives are all women, so in the healthcare industry, many women are involved.

What challenges do women face in Indonesia in obtaining quality healthcare and a positive birth experience?

For a positive birth experience there are multiple factors involved, from access to good healthcare to social factors such as a good relationship with your support system. And then there are financial factors. Having access to good information actually really helps; sometimes women who are pregnant have very wild imaginations and worry a lot. For many it is their first time and they are not sure of what to expect. If we can provide good and accurate information, then it would help them to understand the process and calm their nerves. I can say that because that’s what we experienced while we were managing a hospital in South Jakarta.

Sehati and TeleCTG opens access to information for not only mothers but midwives as well. We have three programs for midwives: financial empowerment, knowledge, and skills. From the financial side, we have already deployed one kiosk. We call it Kiosk Sehati for midwives due to their need for increased welfare. One midwife has already expressed that it’s really helped her in her life.

We teach the midwives how to use our technology. It’s really not easy because getting them to fill all the data and forms with the Sehati application rather than manually can be quite challenging. But once they know how to do it, it can really help optimize their work. At the end of the month, they usually have to give a report to the government using our application. That report can be automatically done via our app. So by the end of the month so they don’t have to go through the data manually for the report.

We created the kiosk not only to increase midwives’ welfares but also improve their livelihoods. The kiosks are equipped with a screen, Internet access, and a stove. We hope it can be a hub for people around the kiosk to get more information from the midwives, and provide educational videos through the kiosk screen. We’re already seeing good progress. Many children are coming to the kiosk and viewing the videos. The kiosk also helps to benefit the surrounding economy. Because there are many people coming to the kiosk, some entrepreneurial people – mostly mothers who live in the neighborhood – cook foods like meatballs, tofu, and fried dough and put their food into the kiosk to be sold. So there’s something like a sharing economy going on around that kiosk as well.

Why does empowering women matter in the first place?

There’s this saying that once you empower one mother or one women, you empower a lot of people behind them. Mothers are the pillar of a family, so once they are content and happy, I think all the people around them – the husband, the kids – will benefit as well. I think women really run the family, so it’s absolutely essential that they have their own income, that they are financially empowered, so they can also help the family to provide.

How is it like to be an entrepreneur while also having a family as well?

Being an entrepreneur is different from working for a company because you really have to think about all the details. Actually it is very good because then you will help a lot of people to find work and create jobs. But that also comes with a very big responsibility. Luckily our four children are already grown up; I started being an entrepreneur about three years ago. While my children were growing up, I was still working in a company. So, I didn’t have to face a challenge in that aspect.

How is it like to co-found a startup with your husband?

Up to this moment, it has been really good because we come from the same background. First of all, we have the same passion. And because we are married, we have more time to discuss our startup. While it’s not too good for our personal lives – because all we talk about sometimes is work – it’s been good so far.

Did you ever have a low moment in your entrepreneurial journey? One where you thought, “Oh my gosh, what did I get myself into?”

It happened a year after we started all this. Ours is in medical technology and it’s really not an easy thing to do. First of all, not many investors in Indonesia understand how the healthcare industry goes. I mean, it’s not a quick game. And our product involves both an application and hardware. TeleCTG is a medical device. It’s the first of its kind in Indonesia. So the challenges really were quite big. There were so many regulations, so much paperwork we had to fill. It’s very costly.

We started this business with our own money, so when we hit a point where we didn’t have any more resources to be allocated to the business, we really felt like, “Oh my God, why are we doing this?” It’s so crazy because there are quite a few people who said that we are a crazy couple. But I really believe what Elon Musk said, that if you believe in something, you do it even if the odds are not in your favor.

So we kept going, and at our lowest point somehow the gates opened. I’m not saying that what we are pursuing is noble, but we are doing this with the intention of the good of the people. And so the gates just opened everywhere.

And has there been a moment in your entrepreneurial career where you thought, “I’m so happy I did this. This is the path for me”?

With every bit of progress we make, I feel that. I’m happy because I know to start this is not easy. Just to see our team happy doing their job. They are extremely dedicated. I don’t know how this happened, but somehow all the people that came to work on our team have the same passion. Some even chose to work with us with a lower salary than their previous jobs. We have a very good team, and that makes me happy. Secondly, when the midwives we work with tell us that what we do really helps them — the online classes, the kiosk, and how we facilitate everything — those are really good moments for me.

Lastly, do you have any advice for other young women who are thinking about becoming entrepreneurs?

Being an entrepreneur is a challenging path. But if you really believe in yourself and your capabilities, and if you possess a strong mentality, I believe you can do it. But it’s not easy. You really have to work hard. Secondly, it depends on what industry you want to get into. Make sure you know the regulations and you have the right network before you start everything. And definitely make sure you have enough resources and financial capabilities. Finally, please do this because you have a cause. Do it all with passion and love. It is not easy work, so you will need to believe in this cause to make it through.

Arum K. Putri: Investment Analyst at Openspace Ventures

Tell us a bit about yourself.

My name is Arum. I’m an investment analyst at Openspace Ventures, covering our Indonesian operations through deal sourcing and execution, as well as managing our existing portfolio companies such as HaloDoc and Sale Stock. Openspace Ventures is a Singapore-based venture capital fund investing in Southeast Asian tech-enabled startups, focused on Series A and Series B. We’re industry agnostic and focus on the product, traction, and founders.

I’ve been back in Indonesia for around 3 years now after attending school in Canada. I came back right at the peak of when companies like GO-JEK, Tokopedia, and Traveloka came into the spotlight, and quickly saw the immediate effect technology had on the Indonesian population. Jobs were created, livelihood security was improved, and new access to services were formed. There was no room for that sort of impact in North America, which was why I made the decision to come back and pursue a career in early-stage tech investing.

What is the kind of impact that VCs are making in the entrepreneurship space?

There are definitely many ways that VCs can make impact. For Openspace Ventures, given the early-stage investments that we do, we make sure to add unique, operational value to our portfolio companies and work very closely on the ground with our entrepreneurs to reach their next milestone. We help with all aspects of the business from corporate finance, capital raising, technology strategy, marketing, hiring, and international expansion. For example, recently I helped my portfolio company build their Series B pitch deck and full financial and operational model from scratch, my team helped several of our portfolio with their marketing initiatives, as well hiring engineers for their tech team.

We have a full in-house operational team in technology, HR, legal, and marketing to support our portfolio companies. We also leverage our network across Southeast Asia to help connect our entrepreneurs with other industry leaders, potential customers, partners, or even investors.  Openspace is also very involved in supporting tech founders and investor community in the countries that we operate in. After all, we do focus on building and backing the next wave of technology leaders. I think that’s the sort of impact that we try to make, particularly given the stage that we focus in where most of the founders are operating at a critical juncture.

Has there ever been like a moment where you’ve thought to yourself, this was just so worth it — this moment has made it so worth it for me to have moved back here?

Yeah, definitely. Growing up in Indonesia I’ve always been aware of the large lower income segment of the population that for the most part were largely ignored – those that did not have access to basic financial services or retail experiences in larger cities, and don’t have the same financial power. Several of our portfolio companies are actually changing that, and seeing the type of impact it has is definitely one of my ‘worth it’ moments.

For example, Sale Stock is a women’s fast fashion e-commerce company that enables women in very remote areas of Indonesia – such as Papua or the northernmost point of Sulawesi – who may not have been able to shop at e-commerce sites beforehand, to purchase quality and fashionable clothing at an approachable and affordable price. It’s very empowering. GO-JEK is arguably already transforming the livelihoods of millions through dramatically reducing poverty. I think that sort of impact, definitely had made it worthwhile for me to come back to Indonesia. I think growing up in this part of the world has allowed me to become aware and conscious of the pain points that more developed countries in the West are not aware of. Things like lack of financial inclusion, little access to education and resources, and income disparity were among the problems that I faced. And now seeing that there are technology advances that are alleviating these pain points but also having substantial social impact made my move back to Indonesia so much more worthwhile.

On the other hand, have you ever felt that being back in Indonesia is so challenging that it has made you think, “Why did ever come back here?”

Definitely. Gender inclusivity is an issue here and  challenge in itself. In North America , people have a lot more regard for women in the workplace. Whereas  here, I think the fight for gender equality is still in its early stages. I am fortunate enough to have grown up in a family that are  mostly women who are all very successful in their fields. But I have had experiences where I was looked down upon because of my age and my gender. A lot of times in Indonesia, the stigma is still like, “Women should stay at home, women should cook, women should do this and that.” Grouping women into what they “should” do is what makes me really upset, because I think women have the right to freely choose what they want to do. If a woman chooses to raise a family at home full-time or choose to become a founder of a tech company, then that’s their choice and that’s OK, I think that the idea of women having a choice in Indonesia is still something that’s stigmatized, and something that I wish is different.

Has there been like a specific instance where you’ve felt that gender discrimination or you know, that that kind of stigma against you?

At one point in my life, a colleague asked me why I wanted to pursue a professional career, why I was thinking of venture capital, and why I was deciding whether or not to pursue a graduate degree. He thought I should stay at home instead. He said to my face, “Oh, why do you want to work in finance? Why do you want to do an MBA? You’re a girl…taking care of your home and husband is important you know?” It was so shocking. I didn’t even know how to answer or how to react. I was so flabbergasted and so angry.

Female employees in Indonesia are often still seen as people meant for back office or administrative functions as opposed to having leadership roles. It’s very unfortunate and it makes me really upset that women need to put so much more effort just to be recognized.

What inspires you in this field? Are there any examples of women taking leadership and taking charge?

Something that inspires me is how Openspace Ventures approach female founders and investors. As of right now, we are almost at a 50-50 gender distribution; the partners actually make a conscious effort to have equal representation of women as part of our team, and in our portfolio we also have women-led companies and women founders, which is something that’s rare in Southeast Asia. One of our portfolio companies, Love, Bonito, is co-founded by two very strong women who are leaders in their field but are some of the most hardworking women I know who have come a long way. I definitely think venture capital is a more welcoming space for women to be a part of, whether you’re going on the founder or investor route. We have lots of room for improvement, but it’s going in the right direction.

How does gender play a role in your investments?

We make investment decisions based on the founder and the product, not the gender. However, I think there is definitely a discrepancy between the number of male founders versus female founders I have met. I think female founders only represent less than 10 percent of the startups I meet and that’s quite unfortunate. I think we need more female founders to come to the table.

So how do we get more female founders to come to the table?

Putting the conversation out there, educating and growing the female founder and tech investor community is one way to do it. I think now, more and more initiatives  exist to get more women in male-dominated fields together. There are initiatives like Generation Girl launched by female developers at GO-JEK that teaches coding and data analytics to young and aspiring  developers. There’s SheVC that is a solid community of women investors. Initiatives like those are good for the women community. In Indonesia particularly, access to network and resources are not as widespread  and the gap definitely exist for women who are looking for the right team, founders, investors, and business partners but don’t know where to start. I think from an investor point of view, given our platform we should create more  of these type of initiatives that not only give them the right access to resources, but also give them a space to have a voice and network with other women leaders.

On the other hand, how do we get more women in leadership roles in the VC community?

I think we are barely scratching the surface in terms of women having leadership roles not only in the VC community, but everywhere. It’s still very much male-dominated while gender is obviously not a measure of productivity in the field.  I’m quite thankful that in the VC community I haven’t had any instances with regards to gender biases, and so I’m very fortunate. But in traditional businesses or more male-dominated fields like engineering perhaps, it may not be the case. I think with any business in general they can benefit from gender diversity – I don’t think there is a reason not to. We can start with educating the workplace to having equal opportunities for women to take on leadership roles or even out the distribution in certain functions. Having a general open mindedness and conscious effort to have more women in these roles is a good start. Then slowly more concrete steps can be taken, like a distribution ratio, women-led panels etc.

How is female representation in the private equity industry? How is the dynamic like?

There is definitely less female representation in private equity than venture capital, especially because venture capital involves younger communities like the startups and tech advocates, whereas private equity deals more with more mature and traditional businesses. It’s tough but like with most businesses, more and more women are beginning to pursue leadership roles in male-dominated fields and that is a step in the right direction.

Do you think Indonesia is ready for an all-female fund with a total gender-lens approach?

I think it’s still early, but we’re moving in the right direction. More and more startups are starting to have women founders, but we still need more. Maybe the market is not big enough to address an all-female fund for women-led only investments now, but I hope it will be in the near future.

What is your advice on combating gender stereotypes and gender stigmas, whether it be in the workplace or from family?

Women need to have a voice and to start speaking up for what they stand for . They should  feel free to speak up and advocate for their opinions.I think now more and more women are starting to find their voice in whatever industry or situation that they’re in despite fear. I have been in cases where because I’m a girl, my decision to pursue a professional career is stigmatized because of the Indonesian tradition, but I’ve seen that change because I was able to be more vocal on my decisions, and people and my path are beginning to understand. It’s a process, but it doesn’t hurt to have a conversation

How was it like to be in like an almost all female family?

I think it’s a very rare thing in Indonesia. I come from an almost all-female family of 20 people of which I think 15 are women, down to my nieces. Those who are my age or from the first generation, are for the most part entrepreneurs or professionals. I am so lucky because I grew up with so many women that started from zero, made way through their adversities, and are now successful in their respective fields, which makes it difficult for me to comprehend when people stigmatize what I can or cannot do. I don’t know how I could have lived a different life, for example if I was to be born in a family that was not supportive of my career.

I grew up not knowing that there was adversity surrounding gender until I started working. I saw people in my family that were the only women in male-dominated fields and I thought that was normal. I realized soon enough that that was actually fought for, and that they worked hard in their careers to prove themselves and get to where they are. With most businesses still very much traditional in Indonesia, I think they had to work twice as hard. It’s definitely inspiring to be surrounded by very opinionated and powerful women, but it can also be very intense. I wouldn’t have wanted it any other way.

Who are the biggest role models in your life?

Definitely my grandmother. My grandma is 92 and she’s still working. She started her business in the garage, building the family business from scratch. She was very strong-minded, yet humble and so inclusive of her team and I think that’s what got her so far. She is a huge advocate for gender inclusivity and women in the workplace and she has taught me the importance of this from as far I could remember.

She started her career in the 1950s where gender inclusivity is nonexistent. She grew up during the Dutch colony, where women did not have access to schools and weren’t allowed to work. But she was fortunate enough to marry my grandfather who was always very open minded and actually helped her grow her business from very early on in their marriage, so in a way that was equally as important people closest to her. I definitely saw that was extremely inspiring, having a husband that was supportive to her pursuits, being rejected my hundreds of stakeholders from banks to investors but continuing to move forward, and having an open mind to continue learning and growing even at 92. She is very inspiring.  

Where do you want to be in 10 years? What’s your vision for yourself?

Maybe in the next 10 years I have founded a company in a field that I am passionate about. My hope is to bring gender diversity and inclusivity in anything that I do, so I hope to instill that as part of my vision.

Do you have any message for girls who want to start their own startups too and maybe encourage them to how they start their own startup or vc or in this industry.

I think my only advice is to just do it. The best pursuits often take a (giant) leap of faith and you never know what you’re up against unless you start, because that’s one of the most difficult parts.