Indonesia is the most populous nation in Southeast Asia, with a population size of approximately 267 million people. The archipelago economy has a GDP of approximately US$1.02 trillion (S$1.42 trillion) in 2018, recording GDP growth in excess of 5% a year. It is the second-largest recipient of venture capital in Southeast Asia behind Singapore, with five unicorns hailing from Indonesia as of 2019. There is a growing amount of innovation and entrepreneurial activity in Indonesia – this is indicated by the spike in startup funding from US$44 million (S$61 million) in 2012, to US$3.8 billion (S$5.3 billion) in 2018.
Jakarta is the capital of Indonesia. It is home to majority of the country’s startup community, with all five Indonesian unicorns headquartered in Jakarta. The startup ecosystem in Jakarta is valued at US$12 billion (S$16.7 billion), significantly higher than the global average of US$5 billion (S$7 billion). Jakarta has a high density of innovation ecosystem enablers, playing host to co-working spaces such as CoHive and Go-Work, accelerators such as Google-backed Digitaraya, and prominent VCs such as East Ventures and Alpha JWC Ventures.
Singapore startups can look forward to expanding in Indonesia through Jakarta. They should capitalise on the city’s large and growing domestic consumer market and strong supply of talent.
Plug and Play is a stage-agnostic open innovation platform that runs accelerator programmes and corporate innovation activities in more than five countries and 28 cities globally. It was founded in 2006 in California by Saeed Amidi and Jojo Flores. Presently, Plug and Play has around 400 employees, made more than 1,000 investments, and has a global network of over 300 corporate partners.
In 2016, Plug and Play collaborated with investment firm Gan Konsulindo to establish GK-Plug and Play Indonesia. Today, their Indonesian corporate partners include the likes of Astra, Sinarmas, Bank Negara Indonesia (BNI) and Buma, among others. GK-Plug and Play Indonesia offers accelerator programmes for tech startups in the following verticals: insurtech, fintech, internet of things (IoT), mobility, food & beverage, and energy and sustainability. Participating startups undergo workshops that provide an overview of the Indonesia market, mentorship and coaching from Plug and Play’s corporate networks, and deal flow sessions for fundraising and business development.
For more information about Plug and Play and its programmes, please visit www.gkpnp-events.com or email firstname.lastname@example.org.
Plug and Play is partnering Enterprise Singapore and the Infocomm Media Development Authority (IMDA) to run a GIA Acceleration Programme, which will support Singapore-based startups and tech SMEs in entering Indonesia through Jakarta. The programme is curated for high-potential startups and tech SMEs across all sectors, and will include rigorous growth training, market immersion and ongoing mentorship.
The GIA Acceleration Programme to Jakarta has three stages:
Singapore-based startups and tech SMEs keen to venture into Indonesia via Jakarta can apply for the GIA Acceleration Programme by contacting Plug and Play at email@example.com. For more information on Plug and Play and the programmes offered, please visit www.gkpnp-events.com or contact the key personnel below:
Alongside Enterprise Singapore and IMDA, Plug and Play also organises Tech Showcase events which offer business and investment matching opportunities, allowing participants to form new collaborations with Indonesian corporates. The 1-day Tech Showcase event will give startups and tech SMEs the opportunity to submit solutions to problem statements generated by Plug and Play’s network of corporates.
The Tech Showcase event consists of the following segments:
Singapore-based startups and tech SMEs keen to venture into Indonesia via Jakarta can apply for the Tech Showcase event by contacting Plug and Play at firstname.lastname@example.org. For more information on Plug and Play and programmes offered, please visit www.gkpnp-events.com or contact the key personnel below
Plug and Play can connect Singapore-based startups and tech SMEs to professional service partners in the Indonesia ecosystem. Please reach out directly to email@example.com to find out more about their service offerings.