[RECAP] NextICorn International Summit 2018

ANGIN was honored to have attended the NextICorn International Summit 2018 from 9 – 10 May 2018, held at the Bali Nusa Dua Convention Center. The summit was opened with amazing speakers including Chairman of Indonesia’s Investment Coordinating Board Thomas Lembong who spoke directly to the audience on the administration’s dedication to supporting the startup ecosystem, the managing director of Sequoia Capital India Sheilendra Singh, and Minister of Communications and Information Technology H.E. Rudiantara. An all-star panel with Indonesian Unicorn CEOs comprised of GO-JEK’s Nadiem Makarim, Traveloka’s Ferry Unardi, Tokopedia’s William Tanuwijaya, and Bukalapak’s Achmad Zaky then spoke about Indonesia’s startup potential in a digital age and their own unique journeys and experiences.

The rest of the conference bustled with activity. In the main hall, speakers from different industry verticals such as fintech, health, and education spoke to concentrated audience members. Meanwhile, hundreds of meetings were occurring between hopeful startups and investors in hallways, meeting rooms, and lunch tables. In total, 70 curated and selected seed to Series C startups were present, including ANGIN’s own portfolio company, Taralite.

ANGIN is delighted to have partaken in such a meaningful and productive conference. We are grateful to have reconnected with so many familiar faces and meet many new ones, and highly anticipate next year’s NextICorn summit.

Dian Wulandari: COO & Co-Founder of Instellar

Tell us a bit about yourself.

I’m Dian Wulandari, co-founder and COO of Instellar. How I got to where I am, it’s a long story. Basically I come from a PR & Marketing background. The last job I had was COO of Marketeers, a media and communications company focusing on youth. We did projects on oil, coal mining, DDI, and an NGO as well. I’m also a big believer in technology; I’m the woman lead of Google Business Group Jakarta – a community supported by Google.

Because I’m a believer in technology, I’m also an early adopter of tech. I used Google while it was still in beta testing. I even used GO-JEK when it didn’t have an app yet – you had to dial a call center to ask for a bike to pick you up. That’s how I got into this startup business. Even though I’ve worked at different companies, I always do two to three months of sabbatical each year to work for non-profit organizations and to do volunteer work. I’ve found that my passion is to help people. But I still have to pay the bills, right? So I go back to work.

I always wanted to have this balance – you want to do good but you want to make money also. And then I heard about the term “social enterprise” – a way to balance social and business. I co-founded Instellar with four partners. It is basically an ecosystem builder, trying to build an ecosystem where everyone can be a social enterprise. Well, I don’t really like the term social enterprise actually. My vision is that in the future there is no such thing as social enterprise. Every company should be responsible to the environment, to society. You don’t have to categorize.

We’re thinking that as an ecosystem builder we can’t just focus on one stage of entrepreneurs. We have to tap into different stages of businesses to make an ecosystem. If your goal is to achieve a vision where everyone is a social enterprise, when everyone is taking care of the planet and its people – it’s not going to work if you’re only focusing on the prototyping stage. We have to do it all as an ecosystem builder. That’s why we created Instellar.

In terms of creating a more socially-minded ecosystem, what work remains to be done?

I do think the first barrier we need to tackle is to stop looking at money as evil. If you have that mindset, you will think that having a profit is not the same as having an impact. Actually, that’s not the case – we can do both. I think that’s the first barrier we need to tackle. You know what they say about money being the root of all evil? Well I think that it’s actually the lack of money that is a root of evil. You can have profit and do good – the two are not mutually exclusive.

Instellar doesn’t only focus on early social enterprises. We do have to give consideration to big corporations as well. Take Ben and Jerry’s, for instance. They’re making good impact. They don’t use GMO products, they have a good business process, good business model, they make profit. I think these big companies also have to be shown in our publications, conversations, and awareness. Stop thinking about these big corporations as these evil, profit-creating entities. That’s the first barrier we have to tackle. Yes, there have to be better regulations and incentives – but it’s the mindset that we have to break down first. Having money and profit means you can do more.

On one hand, we have to shift profit-makers to making impact. On the other hand, we must also work with impact-makers to sustain themselves through business. It’s a balance between profit and purpose. From my experience, it’s harder for the impact entities to go to the middle than for the profit side. So we did have an experience incubating this NGO. Very good, very impactful, the team was also good. They wanted to change, they wanted to have a business model. Their operations of just asking for grants wasn’t sustainable. They really wanted to, but their mindset was very hard to change. For instance, when we asked them to increase the price they were reluctant.They felt it was hard for people to buy at a higher price. But actually for the same price it was very hard for them to grow. That’s the mindset.

In general, there are fewer women entrepreneurs in relation to other entrepreneurs, but there seems to be a lot of women entrepreneurs in social entrepreneurship. Why do you think that is?

Yeah, it’s true. There’s a growing trend in social entrepreneurs led by women. For example, we currently incubate 78 social entrepreneurs. Last year the proportion was 60% male-led, 40% female-led. This year it is 55% female-led and 45% male-led. So that’s a growing trend. Why? One, because again the global movement is different now. There is a lot of momentum in giving more chances for women to become entrepreneurs. And we do find that when women create something, they do it not just for themselves but also for their families. And women tend to be the decision-makers of the family. They’re thinking about others. It’s a common research topic – McKinsey and a few other consultancies have findings on it. I don’t know if it’s a stereotype or not, but I do think that women tend to think more about impact – not just about profit. That’s why a lot of social entrepreneurs are being led by women, and it’s coming from their hearts and solving problems in their societies.

One example: there’s Kostoom, an app for tailors to find customers. The founder, who is female, created it because her mother was a tailor. She found it was getting harder for traditional tailors to find customers. Since she knows tech, she created an app for it.

Do you think there is a greater focus on women in the startup space?

I think we are creating more opportunities for women. People are recognizing that there are more and more women-focused programs in accelerators that are being held in Jakarta, in Indonesia, and globally. I do think there’s a thin line between women’s empowerment and discrimination against men. A lot of people are asking, “Why only women? How about men?” Well, men already have all these facilities and everything, you can join it if you want to. The bottom line is that there are several things that women need to learn specifically. That are different. Problems that are different from what men are facing.

For example?

For example, being judged by your appearance. And then also this is a personal experience, but sometimes if your counterpart is male, they will sometimes hit on you. For other people it’s hard to draw a line between personal and professional.

But I think the bigger barrier for women is coming from within. One is the confidence level. I don’t know why – being in society, being in the patriarchy, it makes women more timid. For some of us, it doesn’t come naturally to speak their opinions – unlike men – because we are afraid of being judged. So that confidence level and fear of being judged…you don’t know what you think of yourself and you care about what others think. We’re born to this kind of society where we have this perception of what women should do.

Do you have any specific challenges you’ve faced as a woman in your industry?

I had problems while I was still new in Marketeers. I had joined the company for one year. I was in charge of everything. People talked about me, saying I’m a new kid, I’m female. People also judge their bosses differently when it comes to gender. When a male boss is meticulous, they call it “detail-oriented.” When it’s a woman, they call it “ribet (complicated/fussy) ”. Some women think about that and take it into consideration. They spend their time working on relationships instead of working on their professional goals. That’s one of the challenges of being a female.

When I talk to a lot of investors, some investors prefer to invest in women. They say that women are more reliable. They set realistic goals compared to their male counterparts. But the problem is that these females don’t want to be invested in. They don’t want to grow a bigger company. Why? Because one, confidence level. They don’t know if they can manage it, they don’t know if they can fulfill investor demands. Meanwhile, their male counterparts are more confident.

That’s why we have our workshops and trainings that focus on women. It’s not about business, it’s about soft skills. We teach them about unconscious bias, because it’s not just about men that harbor them. We as women have unconscious biases as well. Sometimes, women are also more judgmental to other women than to men. So before we change the world, we have to change ourselves first.

Do you have any advice for other girls who are facing those same confidence issues? How can we begin to overcome gender biases?

The short answer will be that when people say I’m bossy, I say, “OK, I’m the boss. So what?” I’m not bossy, I’m the boss. So just embrace it. It’s actually from my own experience. Once, I heard some of my subordinates calling me bossy behind my back. It hurt me from the very beginning. I thought to myself, what should I do? Should I be nice to them? It was important for me to get their approval. What I didn’t realize was that it was important for me to get the approval from them professionally. What they think about me, it’s not something I can change. What I can change is myself, how I interact with them.

You should recognize your own talent. Recognize your own talents and skills. Be humble, but be proud of yourself. For a lot of females it’s hard to take compliments. When you say, “You’re doing a good job,” their immediate answer is “The team is working on it, it’s not me, we’re working on it together.” Learn to say thank you. Embrace it. Be mindful but be proud of yourself. And learn how to say no. These tips sound simple, but try to practice it in your life. You’re good. You just have to believe in yourself.

How do we get to the point of creating a world where all businesses have social aspects when we live in a world where the system rewards revenue and not impact?

Well, I’d like to disagree with that. Because I think the world trend is going towards our direction. Yes, on the investment side they want to make bigger and faster profits. But I do think there is a shift in the global consensus as well when it comes to being socially conscious. Like the movement in San Francisco – all of those tech companies have high profit, but they do think about the welfare of the company, their employees, and the need to live a balanced life. To be a social enterprise, you not only need to be socially conscious about the world, but also about your employees as well. That has to be one of your considerations. It doesn’t matter if you’re giving a lot to society if you have modern slaves in your company. So I do think that the trend is going there.

The trend is going there in other ways. For example, governments around the world are now recognizing social enterprises. They give incentives – tax incentives. In Indonesia, we haven’t gotten those incentives. The latest case I know is Vietnam, where they have very good tax incentives for social entrepreneurs. We also see the B Corporation movement, which is going big and going global. I see a lot of big corporations are joining that movement and want to do good for the world.

 

[RECAP] Indonesia Sustainability Seminar 2018

ANGIN team attended the Indonesia Sustainability Seminar 2018, organized by Most Valued Business (MVB) Indonesia, on 8th May 2018 at Hotel Raffles in Jakarta, Indonesia. The theme of the seminar was “Securing Sustainable Future through Innovation and Dedication”.

A number of interesting speakers from public sector, private sector and the academia share their ideas and experiences on how to incorporate social responsibility in the business processes. The speakers included Alistair Speirs (Chairman of MVB Indonesia), H. E Rasmus A. Kristensen (Ambassador of Denmark for Indonesia), Maria Nindita Radyanti (Executive Director of CECT Trisakti), Paola Cannuciari (Co-Founder of Waste4Change) and Bjorn Heidrich (President Director of BayWa r.e.).

  1. E Rasmus A. Kristensen, the Ambassador of Denmark for Indonesia, in his keynote presentation, highlighted the initiated taken by Denmark towards a sustainable future. The ambassador made a very interesting remark about how innovation is driving sustainability and changing the competitive landscape. He spoke about Denmark’s commitment towards promoting circular economy and resource efficiency. He also shared case studies of how Danish companies are developing and pioneering circular economy solutions. One of the most interesting cases was how many companies are using low-cost clean energy in Denmark to build their massive data centres and then, utilizing the heat produced from data centres to heat homes.

Maria Nindita Radyanti, Director of CECT Trisakti, delivered a presentation on how corporate social responsibility (CSR) is not only about external impact and philanthropy but also about the impact of the internal business activities and decisions. Furthermore, she noted that CSR is an activity with the objective of sustainable development and also, demonstrated how businesses can incorporate CSR across the value chain.

The seminar also showcased two businesses, Waste4Change and BayWa r. e., that shared their experiences and how they are contributing towards sustainable development.

Overall, the seminar provided valuable insights into how innovation has led to clean-tech revolution and is driving sustainability.

 

[EVENT RECAP] Insider’s Guide Launch Event!

On Wednesday (6/6) , ANGIN was cordially invited to Dila Karinta and Bettina Herz’ launch of their book Insider’s Guide to Jakarta Startups. While Bettina was unfortunately absent during the launch, Dila Karinta was accompanied by various speakers, including the Managing Director of Phoenix Communications, Alistair Speirs, Bizzy’s cofounder, Norman Sasono, the cofounder of Andalin, Rifki Pratomo, and others. The launch was held at what Speirs called “the first coworking space”, Starbucks. While the launch covered topics within the book, it included personal insights from each of the speakers on the startup environment, including the difficulty in making a startup, the necessity of perseverance in the face of failure, and many other topics.

Here are some important highlights from the event:

  1. The first question that should be asked before making a startup is “Do you really want to start a startup”
  2. “A startup is a newly formed business with particular momented behind it based on perceived demand…The intention of a startup is to grow rapidly as a result of offering something that addresses a particular market gap”
  3. It is difficult to create a startup by yourself –– build a team consisting of 2 or 3 people covering the technical, business development and creativity/marketing side
  4. Startups does necessarily have to be tech oriented but must use tech in order to be scalable
  5. It is important to have conviction and belief that your startup will succeed
  6. Because of Indonesian regulation (once a startup gets money from abroad, it becomes foreign), a lot of Indonesian companies are no longer Indonesian (Tokopedia is Chinese, Go-Jek is Singaporean)
  7. When startups get easy funding, they fall into the trap of over/reckless spending
  8. Indonesia’s startup landscape differs from Silicon Valley’s in that it tackles real world problems

ANGIN will continue to support efforts made for mentoring startups in Indonesia.

Samantha Gunawan & Josephine Bahari of Blueboots Farm

Tell us a bit about yourself.

S: My name is Samantha Gunawan and I’m the founder of Blueboots Farm. I’m 28 this year and I graduated 2013. Upon graduation I worked in Singapore for one year at an industrial engineering firm, and that’s when I realized that I didn’t suit the office life. I’m more of a outdoor person, so I tend to look for something where I can move around more. One weekend, I came back to Jakarta and I was casually talking to my sister like, “Hey, I’m really interested in organic food,” and she’s like, “Oh I know Ibu Helianti Hilman from Javara, maybe you can contact her and just talk.” So I emailed her and she was just like, “Hey Sam, why don’t we just meet the next day at 3 pm at the Javara Kemang office?”

Ibu Helianti ended up offering me an internship at Javara. At first, I thought no, I should be getting a full time job rather than an internship. But maybe because I felt I was still young, I felt that I could still explore. And actually my parents also supported me in the sense that they told me, “You should make all the mistakes now and explore since you’re not married yet.” So I thought, okay maybe a three-month internship would be a good start to see whether I like the industry. Those three months turned into one year.

Ibu Hellianti wanted to open a new side business; she’s doing food processing right but she wants to do fresh produce, too. She has a lot of connections with the hotels in Jakarta and she has farmers in Bogor, but she doesn’t know how to connect the two because she’s too busy. She sees this girl (me) who wants to know more about organic farms, so she’s like, “Sam, you be the middle person and see how you can convey what they want to the farmers.” That’s where I think the trigger was for me to get into agriculture.

J: My name is Josephine Bahari. I graduated in 2016 with a graphic design degree. I was working at a graphic design firm for a year. I actually always had this passion for eating healthy and living a healthy lifestyle and I’ve always been interested in Blueboots and but never got the chance to ask Samantha about it. I became tired of my job. Samantha happened to want to meet up (she’s my cousin), and she proposed that I help her. I said yes straight away and the rest is history.

I’ve been helping Samantha with the creative side of Blueboots and a little bit on the marketing side learning more about actual farming and where food comes from. I don’t think people are actually exposed to the agriculture side of organic food. I’m actually pretty blessed because I know where my food is coming from and how it is being nurtured and harvested into our dishes. And I think it made me more passionate and mindful of what I consume.

What is the health food scene like in Indonesia?

S: I feel like the health-conscious market is growing, but people still don’t really understand what “healthy” is about. For instance, gluten-free is assumed to be good but actually it depends on your body type. A lot of people are being eaten by marketing. Indonesians follow trends. So if Americans or Europeans are eating kale, we’re eating kale. But actually there’s a lot of other local plants that can replace that. We’re missing our own health culture.

J: i think it’s definitely super niche. The health scene is growing but there’s no personality to it. We’re really following Americans or Australians. It feels like everyone is copying each other. There’s no creativity or actual thought put into it. I think Salad Stop is actually a good model to follow. They have fresh produce as well, and there’s a story behind their business. I think their business is more conscious.

There’s a real psychology in the food business. It’s not just the taste, but also the story behind the food, where it comes from. The health market here is more about marketing than actual health consciousness. In short, it’s growing, but its growing very slowly.

Why is it important to know where your food comes from — why is that narrative important?

S: I think growing up as a city girl, I realized that I felt so disconnected with where my food came from and that I just took things for granted. So if you don’t finish the food, you don’t tend to have any guilt. But once you go to nature and you realize how seeds grow into plants and that it takes about 3-4 months… then you realize that you should not waste your food, and how you should treat the food. You need to minimize your cooking process because certain ways of cooking has more nutrition. I think when you know where your food comes from, you just become more appreciative and you tend to appreciate the ingredients themselves.

How was the transition between working for someone to becoming your own entrepreneur?

S:  Well, working for someone is really good. You don’t have to think about future steps, you don’t have to come up with a business plan, you don’t have to be accountable to your employees. Your mindset is just to do your job, but you’re not thinking about the whole business aspect of that firm. But when you’re doing your own thing, you have to put everything together, put the ideas into action. It takes more motivation, it takes more effort. You need to have passion. If not, I don’t think you can do it at all. I really love agriculture, so I think I jumped into the business with an excitement; it’s something I look forward to. Agriculture is not an easy task, so there were definitely a lot of worries. But you don’t know until you try.

The food industry in general is it male dominated or female dominated, how do you feel as a woman in that space?

S: I think I’m stepping into two industries; one is agriculture and one is food processing. The agriculture industry is definitely male-dominated. You rarely see a woman working on a farm. In terms of how I feel…I actually feel accomplished. At first, I felt intimidated but after awhile, when you know what you’re doing you feel good about it. I don’t feel any different from the men. Sometimes I feel like I’m even a little better.

As young women, do you actually find it hard to get people to see you as capable?

J: I feel that way in a lot of situations. Even sometimes when I go out with Sam. The people that she meets are experienced. They know more about agriculture. I do feel super intimidated, but I think the key is that I want to learn. That’s why I’m always in the back, listening and learning. I do hope that one day I can speak about Blueboots Farm like Sam. I’m actually in the process of learning right now.

S: I feel confidence is built up with experience. If I’m not experienced and I talk to people about things that are more advanced or technical, I tend to be honest with them and tell them, “I don’t know what you’re talking about, I’m new, can you teach me?” People are actually open to that. If you are humble to them and tell them you don’t know, they will open up to you. So I’m never scared to go to a space where I meet people at a higher level than me because I think it’s a learning process. I’m sure one day I’ll be at that point where I can understand. One thing I’ve learned is that if you don’t understand, it’s because you don’t know yet. It’s not because you can’t.

Where do you see yourselves in five to ten years?

S: My perfect five year plan is for me to have good family time while at the same time a career. Not a career that will take my whole life and time away from family. So what I’m doing right now is i’m finding new partners and collaborations so that one day I can still run this while also spending time with family. Work-life balance is very important to me.

J: I definitely want to be involved in the food industry. Not necessarily towards the tertiary side. More to the primary side where Sam is at right now. I really want to learn about food and where it comes from, as well as helping get the word out that eating healthy is not hard. It’s actually so simple, but people just don’t understand it. I think that is actually my passion, and I’m learning little by little. Slowly. Learning about farming and maybe learning to talk to people about it and finding a business that can convey it to people.

M: How do you see women coming into the food industry? How are they changing the food sector?

S: I’m very impressed by all these women. Nowadays I see that women are more business-minded. They get things done quicker and more efficient than men. Even my mom. I feel like women are more meticulous. You need someone like that in the company. Every company needs a woman. They’re the drive behind it.

J: I think males – at least in Jakarta – are not as interested in the holistic and organic lifestyles as females are. So I think it’s actually a good thing. As women, we have this mother-like instinct, taking care of people and ourselves. Not saying that men don’t possess that, but I think women are more expressive about it. I think that’s why we see a lot of women in this sector. We want to take care of people. That’s why social entrepreneurship is more female-dominated. They don’t just want to earn profit, but they want to create impact.

Any advice for other girls looking to jump into the industry?

S: If you want something, just do it. Explore more. If you keep exploring, you can definitely find how you can connect your passion with work. I also feel like you cannot be lazy. Keep on finding your purpose in life, what you want to do. Don’t wait until you’re 50 because then it may be too late. Start as early as possible.

J: I relate to the laziness part. I procrastinate a lot. Recently I’ve learned to have that go-getter attitude if I really want to succeed. The key is to just not be lazy. To always have that drive. Find that drive and what you like. Just excite yourself.

 

[Upcoming] Oracle Startups Festival – Cloud Acceleration Day #Jogja

Oracle cordially invites you to meet our international and local teams in Yogyakarta while we network and dine together. Join our first thought leadership event in Yogyakarta titled the “Oracle Startups Festival – Cloud Acceleration Day”.

Join the Oracle Executive Director Team and the Head of Indonesia’s Angel Investment Network (ANGIN), David Soukhasing and gain unique insights about technology, the venture investment landscape, startups in Indonesia and what they need to do to scale and grow.

Our goal for this event is to support the Startup ecosystem in Yogyakarta and we will share some valuable insight about:

  • How startups compete on a global scale and what they need to do to keep up
  • How cloud platforms are not merely an online storage medium but an ecosystem of tools that enable significant competitive advantages over peers
  • Learn new insights about innovation and future economic landscape, particularly in Asia Pacific.
  • Learn how David can compete against Goliath
  • Network with peers who have diverse insights

Please see below for the event details:

Date: Wednesday, 9 May 2018

Time: 12:00 – 15:30 (GMT + 7)

*Venue will be informed after registrations

Meet and network with our global team as we enjoy coffee and high tea.

For additional questions and other inquiries, please feel free reach out via email Dali@oracleevents.id.

Register here:

https://www.eventbrite.com/e/startups-festival-cloud-acceleration-day-jogja-tickets-44180940382

 

[RECAP] ARISE Conference 2018

On Thursday (26/04), ANGIN was invited to the annual event hosted by Instellar, ARISE. ARISE is short for Awaken & Rediscover Indonesian Social Enterprises, and as it name suggests, it is an event that focuses on everyone who are making positive changes in Indonesia’s community and environment. This year ARISE raises the theme of “Impactful Technology For A Sustainable Future” and it was really insightful to see the discussions of the panelists in this event.

One of the highlights of this event is the launch of ASEAN Social Enterprise Structuring Guide in Indonesia which is developed together by British Council with United Nations ESCAP, Trust Law, Tilleke and Gibbins, and local partners in each country. The panelists consists of Ari Sutanti (Senior Programme Manager at British Council Indonesia), Gita Syahrani (Founder of Socolas), Nancy Margried (CEO of Batik Fractal), and Peter Ptashko FRSA (Director of Global Social Entrepreneurship Network). One of the key points from this discussion is how social enterprises in Indonesia has minimum access to regulatory framework information, hence making it difficult for them to operate. With the launch of this guide, we are hopeful that it will inspire support and growth of social enterprises in Indonesia.

Finally, the peak of the event was the Demo Day Rise Inc. Stars 4. 23 social enterprises were to present their pitch deck to a panel of judges and our very own Head, David Soukhasing, was one of the judges. ARISE is a platform for these Rise Inc. Stars to showcase their products and services. All 23 social enterprises presented their pitch deck for 3 minutes each and received substantial feedback from the judges. It was exciting to see the ideas of these social enterprises and how social impact drives them to do their business. We wish them all the best in their future endeavors!

 

[OPINION] Six reasons why it is important for the UN and financial sector to partner on SDG financing

Original Article available here: http://www.daghammarskjold.se/six-reasons-why-the-un-and-financial-sector-must-partner-on-sdg-financing/

The financial sector is a critical partner for achieving the Sustainable Development Goals (SDGs). This is especially true when it comes to financing. Defining the SDGs as a trillion dollar investment opportunity rather than a funding shortfall may seem obvious to business but the United Nations is just starting to catch on. It began with the Addis Ababa conference on Financing for Development that took place in 2015, and since then, annual meetings – happening now – of the ECOSOC responsible for follow-up.

Commercial financing is not only ‘nice to have’ but an essential prerequisite for achieving the SDGs. As a matter of urgency, UN reform must equip the UN to partner with the financial sector for channeling financing to where it is needed most. This is work UNDP have in fact begun in Indonesia and which we recently shared with UN colleagues and other financial sector partners during a workshop organised by the Dag Hammarskjöld Foundation and the UN Development Operations Coordination Office (UNDOCO).

For two days we sat together in the Foundation’s Centre in Uppsala with the portrait of the second Secretary General looking over us in support. We were tasked to take a critical, honest look at how the UN and private capital can work together for sustainable development and identify the UN reforms that are needed to make it happen. Indonesia was invited as one of three countries, the other two being Armenia and Kenya, where the UN has advanced work around innovative financing with financial sector partners. But why is this partnership important?

Six reasons

The financial sector and the UN represent different worlds, with different languages, cultures and interests. This makes the collaboration at once challenging but also potentially groundbreaking. Here are six reasons why we should collaborate:

  1. Filling the development financing gap: Investments can fill the funding gap but also bring a new kind of resources for development projects that are demand driven and more likely to provide long-term solutions. In Indonesia, the UN Development Programme (UNDP) and the Angel Investment Network Indonesia (ANGIN) designed an SDG Impact Fund which is to provide financing to social enterprises in the agricultural value chain. These social enterprises are part of the ‘missing middle’ – they do not want grant funding and are ready to receive investments but are too large for micro-finance and do not have liquid enough assets for accessing finance from banks.
  2. Providing new deal flow that scales development initiatives: Investors increasingly demand a robust rate of new business proposals and investment opportunities, which finance professionals refer to as deal flow. The UN can help bridge investors and deal flow by building and sharing a pipeline of projects and enterprises in need for growth and expansion capital. In this way, the financial sector can scale viable projects when Government and development organisations exit. UNDP and ANGIN held a Roadshow in Sumatra and Sulawesi earlier this year to identify social enterprises that can become a pipeline of investments.
  3. Harnessing capital’s transformatory potential: Together we can harness the transformatory potential of capital and change the overall approach to finance. For the UN, influencing the entire continuum of capital so investments are made greener, more sustainable and inclusive, is influencing large scale change. UNDP, in countries such as Indonesia and Armenia, brings innovative tools to financing SDGs such as impact bonds and impact funds and is exploring how blending commercial finance with concessionary finance or grants opens up new investment possibilities by addressing investor concerns about risks. In Indonesia, UNDP supported the Ministry of Finance in issuing the world’s first sovereign green Islamic bond (sukuk) thereby channeling investment to combating climate change and are now encouraging the private sector to follow suit and issue corporate green bonds.
  4. Enhancing transparency and accountability: The introduction of new technologies, standards, certifications and oversight measures by the UN can enhance accountability and transparency in areas where their absence is a main risk factor increasing costs of doing business and inhibiting investment. For example, UNDP is exploring with partners blockchain technologies as a means to enhance transparency in the management of religious funds such as zakat and waqf to increase trust in institutions managing those funds.
  5. A conducive policy environment: The UN is well positioned to work with the Government to provide a conducive policy and regulatory environment for SDG financing based on the private sectors understanding of the policy gaps, hindrances and expected incentives to investment. In Indonesia, UNDP collaborates with the Financial Services Authority of Indonesia to enhance the policy environment for private investment in SDGs, by for example putting in place regulations that will support impact investment.
  6. Promoting innovation: Partnership between business and the UN is essential for innovation. Innovation isn’t created in a vacuum but comes from collaboration between unusual partners with aligned missions. For example, id is a platform created by ANGIN and UNDP to connect investors and enterprises, while also providing entrepreneurs with learning materials and resources for growing their business.

A partnership built on similar values

In Indonesia, we (ANGIN and UNDP) initiated a partnership two years ago when UNDP began exploring the social finance eco-system in Indonesia. We began collaboration by conducting joint research, which identified the disconnect between investors and enterprises as a key challenge. Our partnership developed as we worked together to design an impact fund that would address that disconnect by bringing capital to women-led enterprises that were investment ready but could not access capital to grow.  For ANGIN and UNDP, having aligned values; recognising our complementary competencies; having honest, clear communication and defined roles and accountability have been important to our partnership.

For UNDP, the partnership has opened doors to investors and enterprises. ANGIN has brought access to the Indonesian investor and enterprise ecosystem, expertise in early stage investing and capacity building, resource mobilisation with private sector investors and an efficient, lean startup mentality that is execution-centric and KPI oriented.

For ANGIN, UNDP has played a catalytic role for their growth. The UN brings access to a global community and ecosystem, expertise in SDGs, impact measurement and innovative financing, access to government counterparts, resource mobilisation with donors and concessionary investors, a network and infrastructure in the country, neutrality and the UN brand. Together our partnership has achieved a lot but it has at times been constrained by certain UN policies and these need to change.

Four changes needed to UN policies

UN reform must support partnerships for SDG financing such as ours, which now actually take place in spite of UN policies and procedures. We recommend four changes to UN policies:

  • The UN must be equipped with the appropriate legal and financial policies to engage with investments and recover costs for our engagement.
  • The UN has to build its strong cadre of finance experts and facilitate the dispersion of this expertise across the 193 countries where it works.
  • Due diligence processes need to stop seeing private sector as good or bad but instead scrutinise how the collaboration is creating positive change in the way investments are made.
  • Partnership agreements should reflect collaboration not as a procurement or funding arrangement but an offer to support to each other that is equal and mutually beneficial.

In countries like Indonesia, Armenia and Kenya, the UN and finance sector partners have started exploring investments in SDGs. The financing of the SDGs requires us to learn from and build on these early experiences for a more systematic approach across the countries where the UN works.

 

[RECAP] GK-Plug and Play Expo 2.0

One of the most hotly anticipated events all year, the GK-Plug and Play Expo 2.0 demo day on Friday, April 20 did not disappoint. Showcasing its Batch 2 participants, the event was comprised of both a tabling area where startups could showcase their products and services as well as a live pitching session. There, founders pitched to a mixed crowd of investors, startups, and institutional players on the Djakarta Theatre XXI stage. The startups showcased included: Cheers, Danabijak, IndoGold, Manpro, Datanest, Duithape, Periksa.id, Gringgo, Trukita.com, GandengTangan, and Weston. We are proud to say that two of these – Duithape and GandengTangan – are ANGIN portfolio companies.

Pitches were passionate and networking was lively – an excellent event for all who attended. ANGIN is excited for GK-Plug and Play Batch 3, which we are actively helping to source startups for. If you are a founder and would like to apply, please email nadira@angin.id with your updated pitch deck. Until next batch!

 

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

About Plug and Play

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

Terms & Conditions

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

TO APPLY:

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