Grupara Inc, Jakarta's latest incubator is calling for startupsBy Jacky Yap 03 Aug, 2012
Friends in Indonesia, a new incubator is in town. GRUPARA|Inc. (reads incubator not incorporated) is a newly established incubator company in Indonesia.
Founders, Aryo Ariotedjo, Christopher M. Satriandaru, Nicky Atmadjaja, Irwan Hernawan, Andrew Mawikere, Bagus A. Wibowo, J. Grace Adoe together with their partners have extensive experiences ranging from management, marketing, investments, IT advisory, to software and web development.
Grupara focuses in the seed stage investment of internet technology startups and also fashion line startups. The incubator provides seed stage investment ranging from $10,000 to $50,000, but may differ in some special occasions. Other than seed investment, the incubator also provides startups with office space which is based in Fatmawati, Jakarta Selatan, business supports, mentorships as well as a follow up funding round.
Silicon Valley Mentors onboard
The incubator is currently adding more experienced mentors from the Silicon Valley as well as from around Indonesia. One of the confirmed mentor is Jameson Hsu, cofounder of Mochi Media, a web gaming platform in the US. Mochi Media was acquired by Shanda Games for a total of $80 million, and Jameson moved on to work on Pieceable, a native iOS web viewer which has served over 800,000 app demos. Jameson recently joined Facebook too, and will definitely bring his extensive product experience to the Grupara incubatees. While Grupara has not have any incubator or funding partners yet, they are certainly in talks with some notable firms and funds, notably with Japan’s GREE Ventures as well as a few others around Asia.
Grupara invests in multiple industry, with a strong focus on the technology industry. Its first tech portfolio is GRAVIRA, a website where users can design their own T-shirt and sell the designs on the marketplace. The company is currently in development and will relaunch in September or October. Grupara also invested in another fashion startup and is definitely looking across multiple industries to invest in.
What are they looking for
So how does one qualify for an investment from Grupara? Currently, they are looking for more Indonesian startups to invest in. However, they are also interested in investing in other Asian countries. Whether your startup is in its ideation stage or even in prototyping, as long as you have a committed team and a decent monetization strategy, Grupara is more than happy to speak to you. Founding team must consist of at least one technical founder. Another requirement is that founders must move to Jakarta, Indonesia where there will be office spaces for the team.
If you are interested to find out more, you can drop managing partner Aryo an email.