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

Disclaimer: This research is clearly subjective and reflects ANGIN’s team opinion which is based on our interaction and observation over the past few years, with a strong focus on what was going on since July 2018. The objective of this list is to act as a starting point to bring more clarity on the impact investment and social enterprise ecosystem. We have for sure missed several high contributors and change makers but we have to be focused on highlighting the stakeholders who come instinctively to our mind.

2nd Edition: Who is shaping the social enterprise and impact investment space in Indonesia?

To follow up on the 2018 edition and excited by the enthusiasm our list generated, here is the 2019 edition of the key players who are highly contributing to the development of social entrepreneurship and impact investment in Indonesia. These are the people and the organizations you should definitely meet if you are exploring the Indonesian impact market, need insights and advise to play in the country. We have updated our 2018 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. 

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People and Organizations Moving Social Entrepreneurship and Impact Investment in Indonesia

These investors aim for both financial returns and impact outcomes. While not the most active category of investors in financing the Indonesian SDG, they have solid access to pipelines, some have deep expertise in certain verticals (e.g. agriculture, education, healthcare). They look beyond technology companies which is great if you are interested in learning more about SMEs. A great source of knowledge for you!

  • Small Enterprise Assistance Fund (SEAF)
    SEAF provides capital and business assistance to Small Medium Enterprises (SMEs) in the emerging market. It partners with DFAT Australia to support women entrepreneurs by launching SEAF Women’s Opportunity Fund. This fund aims to achieve gender inclusion in SMEs.This year, it announced its investment in BEAU Bakery, a leading local artisanal bakery and café founded by Talita Setyadi. Contact Katharina who is in charged for SEAF Indonesia.
  • Impact Investment Exchange (IIX)
    Based in Singapore, IIX is one of the early names in the impact investment space in Southeast Asia. It is operating several offerings such as investment products (bond, broker role), development consulting (research, impact assessment) or even online classes. Over the last few years it has been more active in the field of gender lens investment and women empowerment through the support of the Australian at DFAT. It has made some investment in Indonesia including Krakakoa, a bean-to-bar chocolate maker based.
  • Mana Impact Partners
    Currently based in Singapore and Hong Kong, Mana Impact Partners has been engaged in Indonesian social entrepreneurship through medium- to long-term capital, together with mentorship, expertise and network connections. It invested among others in Nazava and Krakakoa. Talk to Patti to learn more about them.
  • Northstar Foundation
    This is the venture philanthropic body of Northstar Group, a Singapore headquartered private equity firm. Northstar Foundation has invested in some well-known impact-driven enterprises (Du’Anyam and Electric Vine). It leverages Northstar main team expertise and experience in early stage and private equity. A much needed experience investor for the impact space.

While not necessarily the first players we think of when it comes to financing social enterprises, VCs play a huge role in financing impact ventures that have direct or indirect impact. They usually don’t bother with jargon and don’t use the term social enterprise. They have valuable insights about the nationwide investment pipelines and the outlook.

  • East Ventures
    No doubt that East Ventures has played a key role in supporting and investing in some of the most impact driven startups. It is probably the biggest impact investor in Indonesia (if we get rid of the “official” definition and look at the capital deployment in social enterprises). Its portfolio of impact companies is impressive, ranging from edutech startups like RuangGuru to Small Medium Enterprise (SME) enablers like Wahyoo and Warung Pintar. Its team is highly active at events and workshops, supporting the social enterprise agenda. The investor to meet in Indonesia.
  • Alpha JWC
    Alpha JWC is a local Indonesian tech VC with another impressive track record in supporting impact ventures (e.g. TaniGroup) . If you are wondering, JWC stands for Jefrey, Will , and Chandra , the three seasoned partners of the fund. It made the news this year by supporting among others  Kopi Kenangan and Goola, two high-growth F&B brands. Don’t miss its partners and great team when you are in town.
  • Agaeti
    Below the radars, Agaeti is an Indonesian VC firm that has closed several deals in impact companies, including Xurya (a renewable energy investment platform), Warung Pintar, or Wahyoo. Some other notable portfolios are Antler, the Singapore-based startup generator, Coffee Meets Bagel (online dating app), and CoHive. Pandu, its founder, has an impressive pedigree! Check out the team when you are in Jakarta.
  • Skystar Capital 
    Skystar is an early-stage focused VC firm backed by leading corporate groups with access to a wide array of industries. Skystar invested in a number of impact driven companies such as Kudo or Hijup (an islamic clothing marketplace). In total, it has around 20+ portfolio companies operating in both Indonesia and around Southeast Asia.

Here we include incubators, accelerators, and programs designed to help startups and SMEs. Ranging from early stage incubators to programs dedicated to help facilitate IPOs, these organizations are varied in structure, target demographics, and mandates. They are a great resource to identify driven entrepreneurs that take the extra step of committing extra time and resources to hone themselves and their ideas.

  • Social Innovation Acceleration Program (SIAP)
    Founded by the co-founder of Impact Hub Jakarta, William, SIAP has been helping aspiring and early-stage social entrepreneurs to upgrade their impact solutions and business skills. Between you and us, we have heard good feedback about this program. Supported by DICE program from British Council, it expanded outside Jakarta, e.g. Makassar, Malang, and Solo. Talk to William or Aghnia, usually around Impact Hub!
  • Endeavor
    This is the place to find the superstar mentors and high impact enterprises, focusing on scaling up entrepreneurs who contribute to the GDP and SDG. Its flagship massive mentoring sessions are always a must to access talents, pipeline, and local networks. Its team is super well connected across the country. Definitely talk to Devina and Dita.
  • Digitaraya
    Launched in 2017 by Kibar, Digitaraya is one of the prominent SAOs in Indonesia. Key programs have been conducted in partnership with some big names (Google, GO-JEK). Some of them address specific social impact objectives, e.g. NYALA program, a collaboration with New Energy Nexus focusing on renewable energy startups, and APAC Women Founders, a partnership with Simona Accelerator focusing on women-led startups. Speak to Yansen and Nicole to learn more about its activities.
  • New Energy Nexus
    With strong vision in striving towards clean energy, it supports entrepreneurs to drive innovation through acceleration programs and funding. Headquartered in California, it has now office and team in Indonesia and other countries e.g. China and India. It provides access to global network of ecosystem builders and resources in the clean energy sector. Reach out to Hendrik, Diyanto, or Yeni.
  • Instellar
    One of the oldest impact players in Indonesia. It supports social entrepreneurs through a mix of cohort-based incubation and acceleration programs, consultancy services and access to network. Refer to Romy or Dian for more information.

In the end, isn’t it all about the entrepreneurs? These are some of the most admired and accomplished Indonesian social entrepreneurs. Grab coffee with these individuals, pick their brains, and be prepared to chat business and impact!

  • Dondi Hananto
    Dondi is known to be the founder of the first coworking space in Indonesia and one of the dinosaurs in impact investment with Kinara. Dondi is now a Partner of Patamar Capital, a VC focusing on impact-driven companies. He has seen the ecosystem growing and changing and will be for sure the go-to contact on impact investment and the development of entrepreneurship ecosystem in Indonesia!
  • Toshi Nakamura and Ewa Wojkowska
    Toshi and Ewa are luckily based in Ubud, Bali (we are a bit jealous). Co-founders of Kopernik, an Indonesia-based organization aiming to reduce poverty through consulting and advisory services. They are highly experienced in the last-mile technology, implementing affordable and simple technology innovation to the grassroot community. Additionally, their success in implementing hybrid approach in leveraging philanthropic funds to operate the profit-making activities are a good sample of social enterprises in Indonesia.
  1. Alfatih TImur (Timmy) and Vikra Ijas
    They are the founders of Kitabisa, the leading donation crowdfunding platform in Indonesia. Timmy and Vikra were among the first social entrepreneurs to get funded, and are always seen as a respected inspiration for young indonesians. They are a great source of information on social financing in Indonesia.
  • Thierry Sanders
    Founder of Mekar, an Indonesia-based peer-to-peer lending platform for SMEs backed by Sampoerna, Thierry is one of the most active foreigners (bule) in Indonesia in this social entrepreneurship space. His previous experience across countries and industries are valuable to help anyone understand the game of impact investment. You will see him often in events invited as key resource.
  • Helianti Hilman
    Helianti is the founder of Javara, leading premium artisanal products in Indonesia. She has unbeatable knowledge about the agriculture value chain, and was one of the first social entrepreneurs to scale its operations. She is a strong business policy advocate who often voices out to support the entire ecosystem. Definitely someone to meet in Jakarta!
  • Azalea Ayuningtyas (Ayu) and Hanna Keraf
    Ayu and Hanna are the co-founders of this award-winning social enterprise which produces and distributes wicker crafts to empower women and improve maternal and child health in rural Indonesia. They are leading young figure in the ecosystem, combining her background in public health with business acumen to prove that her passion for the social cause can be built into a professional business model. Both have extensive knowledge on doing work in the eastern side of Indonesia too!
  • Andi Taufan and Aria Widianto
    They are the founders of Amartha, one of the leading peer-to-peer lending platforms in Indonesia, disbursing microfinancing to women micro entrepreneurs. Strong on women empowerment and financial inclusion, they are a good reference to get valuable insights on Indonesia.
  • Susli Lie and Tom Schmittzehe
    Another couple in our list. They were (or are still) social and tech entrepreneur (check https://danacita.co.id), ventures builders and impact investors. These past experience combinations makes a conversation with each of them on the ecosystem always fruitful. Don’t miss them when you are in town if you want to get a good perspective on the ecosystem.
  • Veronica Colondam and Stella Tambunan
    Veronica is for sure seen as one of the pioneers in Indonesia social entrepreneurship.  The Founder of Yayasan Cinta Anak Bangsa (YCAB) Foundation has strong knowledge in Indonesia’s education, and youth empowerment. She is involved in several organizations such as AVPN or PLUS (Platform Usaha Sosial). Her impact fund, YCAB Ventures, is led by Stella who will also be a key resource to help you navigating our market.

Coworking spaces have taken Jakarta by storm, becoming one of the most popular destinations for startups to set up office. One visit to a popular coworking space in Jakarta instantly exposes you to a diverse array of entrepreneurs, ecosystem builders, and even large enterprises who wish to be located closer to potential startup and social enterprises.

  • BLOCK71
    Singapore-headquartered BLOCK71 is operated in Indonesia in partnership with Salim Group (Indofood). It has now presence in Jakarta, Bandung, Yogyakarta, and Surabaya. It has hosted and supported a number of enterprises, including social enterprises 8VIllages and E-fishery. It has also organized a series of entrepreneurial events, such as Future Agro Challenge, a global competition for innovative agriculture enterprises with impact. Pay them a visit.
  • WeWork
    Who has never heard about Wework? This global co-working space company has now expanded hard in Jakarta. It hosts notable impact entrepreneurs, tech entrepreneurs, VC or impact investors. It always organizes full-house meetups and events related to impact, gender and entrepreneurship. Not to mention that ANGIN is sitting in its office. See you on 25th floor in Revenue tower.
  • Kumpul
    Starting as a co-working space, it operates also a coworking management arm that manages several spaces in Indonesia. Its commitment to empower local entrepreneurs through knowledge and network are manifested through several events and programs; the recent one is Telkomsel On The Mission 2019. This accelerator program is focused on supporting eastern Indonesia entrepreneurs, a collaboration between Kumpul, Telkomsel and Ministry of Communication and Informatics. Speak to Faye.
  • GoWork
    Also one of the established and fast growing coworking spaces (shall we call it the big 4 of coworking) in Jakarta. Super active with events, workshops and meaningful content, Vanessa, the co-founder, has injected good energy to create more impact for the ecosystem. Go pay them a visit, they also host some good startups and social entrepreneurs.
  • CoHive
    One of the Indonesia’s largest co-working space providers (Big 4). It is now expanding to co-living and co-retail provider. CoHive has partnered with various key players in the ecosystem, including social entrepreneurship. It is very active in engaging a broader community and entrepreneurship enthusiast through great events (e.g. workshops and panel sessions).
  • Greenhouse
    The name speaks for itself. It is leading sustainability and green efforts in Jakarta. Beyond the space, it is also great at guiding foreign companies who want to enter Indonesia. It’s also better to have a partner to support you on this journey!

So maybe you only have a few days to get the most out of your trip to Indonesia or Southeast Asia. How can you meet the most relevant people and gain the most insight while triggering important discussions and action plans? Events! Luckily, there are year-round events where the Indonesian social impact sphere’s most relevant congregate annually. Buy tickets early and get your networking game on!

  • Ideafest
    Been around since 2011, this annual event has inspired thousand youth and creative communities to grow. Through hundred of talk sessions, expos, and conferences, it invites and connect notable creative ecosystem players in Indonesia, from startups, F&B business owners, content creators, to musicians. Totally worth it.
  • Indonesia Development Forum
    Initiated by Bappenas, IDF brings together government agencies, not-for-profits, and private sectors in Indonesia through interactive sessions and discussions. In 2019, it opened its door for more startups and social entrepreneurs to showcase their works, including ANGIN, Du’Anyam, and Amartha.
  • AVPN Conference
    The leading social investing conference in Asia, AVPN Conference is a melting pot of funders and resource providers worldwide. Every year, it has a great set of programs; from panel discussions, breakfast dialogue, deal sharing, to workshops.  Cannot be missed.
  • Tech in Asia
    Its flagship conference series have been resourceful for the tech ecosystem players in Asia: from growth hack, product development, talent, to investment. Starting 2019, it consolidates its series of events into one conference. Meet key tech players worldwide and explore more collaboration here. It has made solid efforts to include more content from impact players. See you in October 2019!

How is the Indonesian government actively supporting entrepreneurship? You will find some answers by approaching these Ministries or Public Agencies. Approaching the right contacts will be a great support for your work in the country.

  • Ministry of National Development and Planning (Bappenas)
    The Ministry of National Development Planning has been very active in promoting impact investment and social entrepreneurship in Indonesia. Behind a lot of roundtable, events and initiatives, Bappenas team has been very strategic to move the agenda ahead.
  • Badan Ekonomi Kreatif (BEKRAF)
    You cannot miss BEKRAF, the agency for the creative economy. It facilitates entrepreneurs in various means; from capacity building, access to networks, patent facilitation to grant disbursement. Several of its supported startups are social enterprises, such as Panen.ID and Sirtanio Organik. Recently, BEKRAF organized a program together with Kapal Api called “Secangkir Semangat #BuatNyataTujuanmu to promote young social entrepreneurs”. Meet Pak Fajar and Ibu Hanifah.
  • Ministry of Finance (Kemenkeu)
    Indonesia is the first Asian country to issue sovereign green bond. Following the issuance of green sukuk (Islamic bonds) in 2018, the government issued another sovereign bond as part of the commitment in combating climate change. The green bond proceeds will be used to support renewable energy, green tourism, and waste management. Next plan, it is looking at the blue economy related to the ocean, water, and marine life.
  • Otoritas Jasa Keuangan (OJK)
    This regulatory body for financial institutions is actively supporting innovation around fintech and startup funding. Late 2018, it just launched a regulation around equity crowdfunding which can be an alternative funding for entrepreneurs, including social enterprises and SMEs. Its program Inovasi Keuangan Digital (IKD) led by OJK Infinity allows for new players offering new solution to pilot its project under good supervision from the regulator. 
  • Ministry of Cooperatives and SMEs (KemenkopUKM)
    Last year, the Ministry body mapped out and met 240 social entrepreneurs in several cities in Indonesia to understand their needs and identify how the Ministry can support them. The Ministry has partnered with various entities, including ANGIN, to provide training in business acumen and access to funding.
  • Ministry of Industry (Kemenperin)
    While the Ministry does not specifically target social entrepreneurship, it has been very actively involved in supporting entrepreneurship, especially towards the theme of Industry 4.0. It partners with several entities, including ANGIN, to support tech entrepreneurs and SMEs.

Shaping the way we conceptualize social impact and analyzing current trends are our friends’ expertise at think-tanks and research organizations. Simply reading their reports can help provide insights into the ecosystem. Chatting with them may be some of the most interesting conversations you’ll have in Indonesia!

  • AVPN Indonesia
    The Singapore-based leading network of social funder communities (e.g., impact investors, foundations, angel networks, corporates)  has now a full time team in Jakarta who is pushing monthly events with the Indonesian members. Its connections are a must. Its research, publications and articles are usually insightful too. Say hi to Dini and Vania!
  • Global Impact Investing Network (GIIN)
    With a solid name in the impact measurement industry, this global network has made available valuable resources around impact investing, including training programs, industry research and market data, and tools and resources for impact measurement. They have been more active lately to contribute to the growth of the impact space in Indonesia. 
  • Aspen Network of Development Entrepreneurs (ANDE)
    Based in the US, ANDE (The Aspen Network of Development Entrepreneurs) is another global network of organizations that promote impact investment and social entrepreneurship in emerging markets. It led several events and roundtable in Jakarta this past year. Looking forward to seeing more happening!

Universities play the unique dual role of both research and incubation. Some of the most prominent entrepreneurs and startup talents come from the universities we’ve listed here. We wouldn’t be surprised if the next Facebook was born out of one of their student’s dorm rooms!

  • University of Prasetiya Mulya
    This university has brought new entrepreneurs and rising local brands in the market. It equips the students with mandatory social entrepreneurship projects and modules to inspire aspiring entrepreneurs creating impact through their ventures. It also supports local entrepreneurs through its Entrepreneurship Development Centre and New Ventures Innovation program.
  • University of Gadjah Mada (UGM)
    One of the top academic institutions in Indonesia based in Yogyakarta. It shows a commitment in supporting social entrepreneurs by organising events (ASEAN Youth Socialpreneurship Program (AYSPP) and the Competition and Expo of Youth Sociopreneur) and community development program.
  • University of Indonesia
    The top academic institution in Indonesia has shown a sustained commitment to support social entrepreneurs. Through its community outreach (UKM Center), it develops SMEs based in the community within the university network. One of the entrepreneurs supported by this program is Mycotech, an Indonesia-based bio-material manufacturer. In addition, we will find many successful social entrepreneurs and top ecosystem builders are part of UI’s alumni network.
  • Binus University
    Binus has several alumni now working in the VC firms, impact investors and social enterprises. Without mentioning that William from Tokopedia is probably one of its successful past students! The school runs several entrepreneur related programs and curriculums. Go check its campus!

Thirsty for insider information? Or want to make your voice heard to the rest of the ecosystem? Look no further than these media and blog publications that help shape the dialogue and discourse that the ecosystem regularly employs. Most of these publications have both a website and a newsletter that you can subscribe to, making sure you stay in the loop. They are constantly open to new ideas, content, and op-eds and reach thousands of visitors per day—if you’re looking for a platform, these may be it.

  • Tech in Asia
    The regional media startup is the go-to platform for the latest information on tech startups and investors. While it is not focusing specifically on social entrepreneurship, much of its news coverage is related to the subject.

     

  • E27
    Similar to Tech in Asia, this regional online media platform highlights updates from the tech startup ecosystems. A decent amount of E27’s coverage is on social entrepreneurship.

     

  • Impact Alpha
    Impact Alpha is a global news covering investment news on social enterprises. Impact Alpha is your go-to platform to identify social enterprises and capital providers operating in Indonesia.

These organizations have impact written in their DNA. Quite a number of SAOs, events, programs, and even startups may receive aid from development organizations. Much of the necessary funds needed for earlier-stage startups or SME-level entrepreneurs are likely being funded in some part by these organizations.

  • United Nations Development Program (UNDP) Indonesia
    The UNDP is among the most innovative intergovernmental organization in the country. UNDP has been engaged with various stakeholders to develop social entrepreneurship in Indonesia, e.g. initiated Innovative Financing Lab as a collaborative space to help align investments with SDGs. In September 2019, it just launched Impact AIM Indonesia, an accelerator program for social entrepreneurs, in partnership with 500 Startups and Bukalapak. Ask for Christophe and Inez!
  • Mercy Corps
    Besides the NGO work, Mercy Corps has an experienced venture fund to provide early-stage capital for social entrepreneurs. Beyond capital, it provides solid technical support and global network within 44 countries. It has also a network of mentors across Indonesia. MicroMentor is a free online mentoring platform developed by them and available in Indonesian to empower local entrepreneurs.
  • OXFAM
    OXFAM has multiple programs focusing on SMEs and social entrepreneur. It has led good effort on youth development and women empowerment. Recently, ANGIN collaborated with Oxfam to support weaving group in Lombok in improving their business acumen. Click here to learn more about this project. Speak to Oskar to connect with them!
  • Ford Foundation
    This US-based foundation has been in Indonesia since 1953. Since then, it has been conducting various programs, e.g. in community development, women empowerment, agriculture. It has already started to explore impact investment and for sure will do more for the ecosystem. Make an appointment with its team located in the SCBD!

These are the most active country governments in supporting social entrepreneurship and impact investment in Indonesia as a core piece of their diplomatic and bilateral efforts.

  • Australia and DFAT
    One of the most active governments with an agenda of gender equality, social entrepreneurship or impact investment. Indonesia’s neighbour has several programs such as Investing in Women and Frontier Incubators that you should be familiar with. Australia has supported several names mentioned in this list (e.g. Patamar, IIX, SIAP, Instellar)
  • United Kingdom (UK)
    Mostly through the British Council (BC), the UK’s international organization for cultural relations and educational opportunities, the UK has been actively contributing to Indonesia’s social entrepreneurship space through various means; from research studies (check out this publication with PLUS about social enterprises across the country), capacity building, policy dialogues. The latest program, DICE, is currently running to develop creative and social enterprises in the UK and five emerging economies, including Indonesia. Ask for Ibu Ari, BC’s program manager.
  • Canada
    The country plays a very active role in Indonesia’s entrepreneurial scene recently. Canada has supported reports on social entrepreneurship, capacity building for social enterprises and blended finance fund conceptualization for social entrepreneurs across the agriculture value chain. Check out ANGIN’s project with the Canada-Indonesia Trade and Private Sector Assistance Project in empowering women entrepreneurs here. Get in touch with Genevieve, who is based in Jakarta!

Here is a list of private corporations that are doing good through significant corporate social responsibility (CSR) efforts or dedicated programs. They are one of the key actors in shaping the social entrepreneurship ecosystem in a positive way.

  • DBS
    Through its foundation, early player DBS Bank has provided various forms of support towards social entrepreneurship; from co-organizing and providing financial support to several social entrepreneurship initiatives (e.g., DBS-NUS Social Venture Challenge), distributing grants to social enterprises, to publishing a social enterprise handbook.
  • Principal Asset Management
    Previously-known as CIMB-Principal Asset Management, Principal just launched Principal Philanthropy Social Impact Bond Fund, the first ever philanthropy mutual fund in Indonesia in mid 2019. This financial product can be accessed by the public, where it can invest in a mutual fund while donating to selected not-for-profit organizations.
  • Astra
    Its holding company, foundation, and corporate VC has been more active in supporting SMEs and entrepreneurship. It provides strategic investment, empower startups through a startup competition (e.g. Astra Startup Challenge supported by Ministry of Cooperatives and SMEs), and provides in-kind support in the community through its foundation.
  • Amazon Web Services (AWS)
    Through some startup-friendly product, AWS has brought support to Indonesian tech and impact entrepreneurs by providing credits, training, and support. Talk to Budi and Meher to explore more.
  • Salim Group (Indofood)
    Although it is not specifically focusing on social enterprises, Salim Group has been supporting startups through its initiative of Innovation Factory. Innovation Factory partners with NUS Singapore to manage Block71 (an ecosystem builder and co-working space) and established SKALA (an accelerator program). 
  • Telkom
    Whatever it did it through its VC arms (e.g. Indigo), its subsidiary (Telkomsel) or events (Next Dev), Telkom has allocated efforts in supporting social enterprises in Indonesia. This is encouraging to see state-owned organization involved in social innovation. 

New category in our list. We are very impressed by the work of these unicorns in supporting SMEs, train talents and be inspirational for the next generation of social entrepreneurs. Their efforts on procurement, suppliers, vendors through training and access to market (sometimes finance) is to be noticed. 

  • GO-JEK
    Who does not know Gojek? But do you know that In the earlier days, GO-JEK was positioned as a social enterprise? As it keeps creating impact in economic empowerment, this Indonesian ride-hailing giant establishes various strategic partnerships under its investment arm, GO-Ventures to strengthen its impact. It collaborates with startups from different verticals, e.g. HaloDoc (the leading health technology startup), PasarPolis (the Indonesia’s first online insurance company), and Kitabisa (the leading social crowdfunding platform). This year, it has also launched Gojek Xcelerate, an accelerator program in partnership with Digitaraya, to develop Indonesia’s entrepreneurship ecosystem 
  • Tokopedia
    As the biggest e-commerce in Indonesia, Tokopedia has helped thousands of local traditional entrepreneurs going online. As part of its commitment in improving digital economy literacy, it conducts several programs collaborating with several stakeholders, e.g. partnership with Bandung local government and Danone-Aqua to improve the digital economy literacy among MSMEs and village-owned enterprises (BUMDes). Also William, locally educated, is for sure an inspiration for all Indonesian entrepreneurs.
  • Bukalapak
    Bukalapak has been actively supportive in empowering local MSMEs through several programs, including disbursing funding for small vendors and kiosks to go digital (“Warung Naik Kelas” program) and establishing a partnership with the government (e.g. Ministry of Communication and Informatics), capital providers (e.g. Bank Mandiri). It also partners with the UNDP and 500 Startups to conduct an accelerator program for impact entrepreneurs (ImpactAim accelerator). Such a great game changer collaboration!

David Soukhasing Spoke in The Fourth Annual Islamic Finance Conference in Surabaya, Indonesia

The Annual Islamic Finance Conference (The AIFC) is a Ministry of Finance annual event that brings together policy makers, economists, academics, and private sector to discuss various key Islamic finance, economic and development issues particularly for Indonesia. The purpose of AIFC are to discuss and exchange new ideas and information among experts. Previously, the AIFC was held in Jakarta in 2016, Yogyakarta in 2017, and Makassar in 2018.

This year, the 4th AIFC was held on July 24-25, 2019 in JW Marriot Hotel Surabaya. It would raise an interesting topic that already became a global interest: impact investing. The topic also in line with the government concern to determine the impact of investment which already spent, in social, finance, and environment. This conference also parallel with call for paper event to gather papers which have a high quality and is expected to become references by the academia and policy makers particularly related in the economy and Islamic finance.

Along with high-profile speakers such as Sri Mulyani (Minister of Finance Indonesia), Prof. Bambang Bodjonegoro (Minister of National Development Planning, Republic of Indonesia, and Chairman of Indonesian Association of Islamic Economist), Dr. Walid Abdelwahab (Director-General, Country Relations and Services Islamic Development Bank), and several notable speakers in this event, David Soukhasing, ANGIN’s Managing Director delivered a keynote presentation titled “Leveraging Private Finance for Public Good”. 

His presentation can be downloaded here.

 

[RECAP] AVPN Conference 2019

As one of the early members, ANGIN attended AVPN Conference 2019 in Singapore to continue to learn and network with key executives in social investment landscape, e.g. development agencies, social entrepreneurs, impact investors, and government agencies from around the globe. 

The goal of the AVPN Conference 2019 is to ensure social investors are better equipped to champion and deploy capital more effectively into critical issues that matter most to them. Now in its seventh year, the AVPN Conference is Asia’s largest gathering of social investors who are seeking to move capital more effectively towards impact. This year’s theme is Breaking Boundaries. The event brought together notable regional players in social investment landscape to discuss different topics, with 291 speakers over 85 sessions and 1,212 delegates from 43 countries.

On 25-28th June in Singapore, ANGIN, represented by Saskia Tjokro (Head of Advisory) and Benedikta Atika (Impact Investment Lead), was glad to attend and to learn from various insightful sessions and network during this four-day event. The sessions ranged from discussing general landscape of impact investment to specific impact sectors (e.g. nutrition, education), for example The Basics of Blended Finance, Moving Capital Towards Proactive Disaster Solutions, and Solutions Journalism and the Importance of Storytelling.  shared our insights during the FGD session exclusive for impact investors in unlocking impact investment opportunities in Indonesia.

In addition to attending the sessions, we reconnected and engaged in inspiring discussion with key ecosystem players in the region, for example Bamboo Capital, Swisscontact, Ashoka, Social Value International, D3 Jubilee, Patamar Capital, Instellar Indonesia, PLUS, and Kitabisa. Furthermore, we met some corporations like Grab, Johnson & Johnson, and IBM who had contributed in creating impact through their activities. We also talked to inspiring entrepreneurs who pitched their innovative solutions, including our fellow Indonesian sociopreneurs: Diffago and Fishgo.

The unique combination of philanthropists, private sectors, government agencies and entrepreneurs sparked meaningful conversation in breaking the social investment boundaries.

 Here are some of our key insights from the event:

  • Stakeholder engagement should be fluid and iterative

This point were raised in different discussions, from exploring solutions for disaster sector to impact management and measurement. Although it sounded obvious, this situation were still overlooked in impact investment practice. Many organizations used “top-down” approach: when the communication flow usually looked linear: capital providers/impact investors – board of committee – program managers – users (beneficiaries). Even worse, some cases exhibited the lack of context when the solutions are implemented by replicating what works in the other areas without communicating it well to the users (beneficiaries).

 It is important to acknowledge the fluid conversation between stakeholders. Users (beneficiaries) have the right to ask and discuss with the capital providers and program managers, to ensure that the solution is what they need and understand how it works.

  • Entrepreneurs take role in collective impact

Entrepreneurs are invited to take part to achieve collective impact, benefiting their local context and agile operation to deliver the solutions. Unlike not-for-profit implementing partners, entrepreneurs also have better sustainability due to their market-based approach. They should work with big corporations and development agencies, who have been involved in channeling resources (human resources, capitals, and technology) to achieve the UN SDGs.

  • Disaster solutions: Prevention is (also) important

In one of the session, we discussed the irony in the disaster sector. There were only 1% of the global philanthropic funds allocated in disaster, and majority of them are used for the disaster relief. It was easier to measure (e.g. death tolls) and seemed more “impactful” as it came when the situation was at the rock bottom. We agreed that the more efforts are needed in the prevention stage, where few players are currently looking at.

  • Women empowerment: How to scale

It was interesting to see how mainstream businesses like Grab was brought together with philanthropic funders and mainstream finance organizations, like Bill & Melinda Gates Foundation, FWWB India, and SEWA Bharat. Conversation around women empowerment and gender equality were going further, not only how to include this value in their own model, but also how to scale the impact through their innovation in digital solutions and entrepreneurship.

  • Ongoing discussion: How to strengthen sustainable finance market in Asia

Together with other impact investors focusing in Asia, we learned and shared insights on the challenges and next steps to develop the impact investment landscape. Global Impact Investment Network (GIIN) and Oliver Wyman + Marsh & McLennan Insights began by discussing key findings on their recent report, followed by some exercise conducted by the participants.

We discussed around impact measurement and management, different trends in different Asia countries, and how the definition and label of “impact” affect the decision making process among capital providers. ANGIN also shared the importance to raise awareness in the early stage investment, to help channel capital in the impact investment landscape. The growth of social entrepreneurship in Indonesia requires strong support from the ecosystem players, including the capital providers.

ANGIN is grateful to reconnect with notable organizations in the social investment landscape in Asia. We look forward to more AVPN activities in the future and exploring collaboration in Asia’s social investment ecosystem.

Find out more about AVPN Conference 2019 here.

 

 

 

 

 

[RECAP] GKN Annual Members Meeting 2019

On June 24th, GKN (Gerakan Kewirausahawan Nasional) in partnership with Ministry of Cooperatives hosted their annual membership meeting, proposing the theme of strengthening organisational values to promote economic inclusivity. ANGIN member Gema had an opportunity to attend as a keynote speaker for their panel discussion.

The event showcased leading MSMEs from various parts of Indonesia which have created a significant contribution to their respective regions. Leading MSMEs were awarded by the regent of Semarang. Other than the awarding ceremony, the annual membership meeting had a panel discussion led by the general secretary of the organisation. ANGIN along with Gunawan Arifin (CEO and Co-founder of Kerjasama.com) participated as the keynote speakers to introduce our services as the alternative financing mode for MSMEs.

Through gaining insights about ANGIN’s Angel investment service and Kerjasama.com’s crowdfunding platform, GKN hoped that MSMEs will be able to choose alternative financing modes and strategically plan their fundraising needs.

[RECAP] AWS Activate Partners Summit

On the evening of July 4th, Amazon Web Services hosted its Activate Partners Summit. ANGIN and Connector.ID were invited to participate, and Connector.ID was invited to set up a table and present the platform.

During the introduction, Meher Vaswani, our key partner from AWS, outlined what it does in helping to scale startups and many of its recent key initiatives. One of the key highlights is ANGIN X AWS’s recent road show in 5 major cities in Indonesia.

Then, Connector.ID was invited to speak about the platform on stage. Team Connector.ID was represented by Emily Izmirian, Candice (Jiaying) Li, and Jacob Johann Wee. During the presentation, they described the mission of the platform and how it helps entrepreneurs and capital providers, many of which were present at the conference.

At the end, AWS presented a gift to David Soukhasing, ANGIN’s managing director, for ANGIN’s outstanding support for Amazon’s involvement in the local ecosystem.

The ANGIN and Connector.ID team were happy to be involved with this event and learn about what AWS does and its recent initiatives.

[RECAP] Final Project Conference of the Canada-Indonesia Trade and Private-Sector Assistance (TPSA) Project

Last Thursday on June 27, 2019, ANGIN representatives from the University of Pennsylvania, Wharton School of Business, Jiaying (Candice) Li, Emily Izmirian, and Jacob Wee attended the Final Project Conference of the Canada-Indonesia Trade and Private-Sector Assistance (TPSA) project.

The event marked the end of a 5-year, $12 million project of increased trade, investment, and cooperation between Indonesia and Canada. The project is a combination of public and private sector involvement. In particular, TPSA’s investments aim to “mainstream” women empowerment, which means to integrate women in all aspects of business and to support environmental sustainability. Notable attendees included representatives from the Indonesian government including the Ministry of Trade, the Ministry of Agriculture, and many of TPSA’s partners.

The event began with a discussion on gender equality within Indonesia’s coffee sector. Gayo Arabica coffee farmers from Aceh discussed the problems of women representation in coffee cooperatives. According to the farmers, it was difficult for women to join cooperatives because many cooperatives required its members to own land titles, which were often under their husbands’ name. However, because of efforts by TPSA, a women’s coffee cooperative was established to represent women coffee farmers in Aceh. The panelists also discussed the need for education and for further support for women.

After the discussion on gender equality, farmers discussed environmental sustainability in coffee farming. Coffee farmers discussed the challenges of environmental sustainability including irregular weather changes, pests and diseases, and even the capacity of a farmer. They shared solutions to these problems such as compositing to revitalize the land, better branch-cutting techniques, using seeds, and protecting the forest.

The event also included presentations by companies that improved efficiency and competence for small and medium enterprises (SMEs) such as SCORE and BEDO. These companies provide training by improving collaboration, especially through Corporate Social Responsibility (CSR). 

Finally, the event included discussions on female entrepreneurship. Not only did the panelists discuss the challenges they faced, but they also discussed the use of technology to change and transform companies. Most notably, they discussed the importance of the help they received from ANGIN in raising funds and financing their businesses.

[RECAP] The 1st Asia Pacific Innovation Forum: Technology Start-ups for Sustainable Development

On June 11-12th, UNESCAP organized a conference named The 1st Asia Pacific Innovation Forum: Technology Start-ups for Sustainable Development in Tehran, Iran. Government representatives, innovators, start-up companies from 63 UNESCAP countries, academics, Iranian students and Foreign Representatives in Tehran attended the conference. Indonesia was represented by the Head of the Center for Research in Science and Technology (Kapuspiptek) Dr. Sri Setiawati and Managing Director of ANGIN, David Soukhasing.

The event was opened by the speech from Prof. Armida Salsiah Alisjahbana, the Executive Director of the United Nations Economic and UNESCAP’s Social Commission for Asia, and  Dr. Sorena Sattari, Iranian Vice President for Knowledge and Technology. The focus of the conference is the importance of science, technology and innovation as a vehicle for implementing the SDGs. The conference was also aimed for the launch of the Asia-Pacific Start-up Network and the UNESCAP report entitled “Establishing Science and Technology Parks: A Reference Guidebook for Policymakers in Asia and the Pacific”.

In this conference, David Soukhasing speak about government intervention to push investment in innovation, meanwhile Indonesia’s Kapuspiptek conveyed the profile of Puspiptek which had been developed as one of the national science and technology park, aimed to become an area of technology-based business development and innovation, to give support in research and facilitating the development of new innovations.

 

ANGIN’s Angel Investor: Bastian Purrer

 

Welcoming our new Angel, Bastian Purrer

Bastian Purrer is a Jakarta-based Entrepreneur & Start-up Advisor, working director with early-stage startups and nonprofits. Until recently, Bastian was the Founder and CEO of LYKE, an Indonesia mobile fashion marketplace with almost 2M users, which pioneered the use of visual recognition in e-commerce. LYKE was acquired by Chinese Unicorn JollyChic in January 2018. Before starting LYKE, Bastian attended Harvard Business School, worked in Silicon Valley, was an early employee at Groupon as well as Zalora’s first Chief Marketing Officer. Bastian has build teams in half a dozen countries, and is passionate about South-East Asia, and using technology as a global resource for good.

 

Find out more about him and get connected: https://www.linkedin.com/in/bastianpurrer/

ANGIN’s Angel Investor: Florian Holm

 

Welcoming our new Angel, Florian Holm

Florian Holm is an economist by training and started his career in consulting with the Boston Consulting Group. For the past five years, he has worked in e-commerce in various roles and geographies, last as Lazada Indonesia’s country CEO from 2016 – 2018. Currently, Florian is working on his own startup and is active as an Angel Investor and mentor.

 

Find out more about him and get connected: https://www.linkedin.com/in/florianholm/

[UPCOMING] The ASEAN Angel Alliance Summit 2018

CELEBRATING ASEAN ANGEL INVESTMENT

Calling out any entrepreneurs, startup ecosystem builders, any investing community and angel investors!

The ASEAN Angel Alliance Summit 2018 provides the perfect platform for angel investors to discover new investing venture , expanding networks, sharing opportunities and support in market intelligence and market penetration throughout the region’s ecosystem.

Key highlights to the event also includes networking opportunity with 200 international angel investors, notable Keynote Speakers and Panel sessions, Masterclasses, Fishbowl sessions and Fireside Chat with YB Lim Guan Eng.

Keynote speaker :

  • Chris Sacca – Founder & Chairman Lowercase Capital (TBC)
  • Cyrille Costes – Co-Founder & Managing Partner, Cherry Tree Investments (TBC)

Click here for more information

Event detail :

Time : 27 – 28 November 2018

Venue : DoubleTree by Hilton Hotel Kuala Lumpur

Buy the ticket here!

The ASEAN Angel Alliance (AAA) has assembled an outstanding progtam for its first 2018 Summit experience. You can expect your perceptions to be changed, technical questions to be answered and your imagination to enliven into action. Here is for an overview of the program.