Indonesian startups attract international investors at the Expo 2020 Dubai
JAKARTA, Indonesia
JEJALA ID, an initiative by The Ministry of Communications and Informatics of Indonesia, concluded its program series with a hybrid Indonesia Startup Market Insight Seminar and a one-on-one Virtual Matchmaking session at the Expo 2020 Dubai, on January 2-3, 2022. With over 30 Indonesian curated startups exhibited the Indonesian Pavilion at the expo, the program has attracted over 25 investors participants and international visitors from over Singapore, Japan, Europe and United States of America.
Following years of World Expo histories exhibiting the latest innovation and showcasing 192 country pavilions, the Expo 2020 Dubai is a promising platform for Indonesian startups to engage with international audiences.
Semuel Pangerapan, the Director-General of Informatics Applications of The Ministry of Communications and Informatics of Indonesia said, “As one of the largest and fastest-growing digital economies, we are committed to promote the thriving Indonesian startups to the world. Our participation at the Expo 2020 aims to cultivate the country’s digital ecosystem through vast market access and robust capital opportunities catered to multifaceted startup segmentations.”
During the Indonesia Startup Market Insight Seminar on January 2, Semuel joined Italo Gani, Venture Partner of East Ventures; Adrian Gilrandy, CEO and Founder of Praktis; and Williem, CTO and Founder of Verihubs, to discuss the future of Indonesia’s digital economy, providing participants with practical solutions for decision-making.
Currently, around 73,7%(https://services.google.com/fh/files/misc/e_conomy_sea_2021_report.pdf) of the Indonesian population has adopted the internet with 21 million new digital consumers at the start of the pandemic, of which 72% came from non-metro areas. This shows a high growth penetration rate across the country.
The prolific situation leads Indonesia to successfully expand its digital economy, making it one of the countries with the highest growth of startups in 2021. Indonesia’s digital economy is predicted to surpass US$130 billion(https://www.blog.google/documents/47/SEA_Internet_Economy_Report_2019.pdf/) by 2025.
Business matchmaking between international VCs and Indonesian startups
The one-on-one virtual matchmaking session on January 3, has facilitated over 30 foreign venture capitals to directly exchange information with 30 curated emerging Indonesian startups. The session was conducted using a platform-based automated matchmaking system.
One of the curated startups is Gajiku, a technology platform that seeks to financially empower the masses. They do this by partnering with employers to provide advance salary options to their employees. This enables employees to cover emergency or one-time expenses that are caused by cashflow issues, thereby avoiding high fees which are typically charged by predatory lenders.
“The opportunity to connect with a global audience at the Expo 2020 has been tremendously impactful for our business. By facilitating a personalized networking session with reputable companies, the program has supported emerging startups to grow and contribute to build a comprehensive digital economy in Indonesia,” said Sherman Tanuwidjaja, CEO and Co-Founder of Gajiku.
The Indonesia Startup Market Insight Seminar and Virtual Matchmaking session are the culmination of JEJALA ID’s four months-long events, started with pre-event roadshows to Japan, Singapore, East Europe, and USA. This showcases the Government’s commitment to empower early-stage startups to the global stage.
More information about the JEJALA ID’s series of activities and the curated Indonesian startups at the Expo 2020, visit jejala.id or contact info@jejala.id
About Ministry of Communications and Informatics
The Ministry of Communications and Informatics is the official government agency of Indonesia tasked with formulating and implementing national policies in communication and informatics. It is also responsible for accelerating the distribution of information technology and digital infrastructure so the public can have efficient access to up-to-date telecommunications and internet networks.
For more information, visit www.kominfo.go.id.
SOURCE: Ministry of Communications and Informatics Republic of Indonesia