Indonesia's TELKOM launches Indigo Incubator; to scout, fund 30 startups
It will provide 30 startups with seed capital of IDR 250M each for biz development. The most promising one will get another IDR 2B fundingBy Christine Siagian 28 Jan, 2014
TELKOM, one of the largest telcos in Indonesia, has launched Indigo Incubator with an aim to cultivate the digital creative industry in the country. Along with the incubator, TELKOM also kicked-off a programme themed ‘Building Strong Digitalpreneur’, which will provide startups an opportunity to realise their creative work — whether it’s in the form of ideas, products, or an already established business.
Indigo Incubator will provide the opportunity for 20 startups to be incubated in Bandung Digital Valley and 10 startups to be incubated in Jogja Digital Valley — both are digitech resource pool and co-working spaces owned by TELKOM.
During the incubation period, 30 selected startups will get facilities such as co-working space, services, market access, and financing. The seed capital for business development is IDR 250 million (or US$19,530) per startup. The most promising startup will get another IDR 2 billion (or US$156,250) funding.
At the kick-off programme, Joddy Hernady, Senior General Manager of Innovation and Idea Center, TELKOM said, “During the incubation, startups will be mentored by professionals from MIKTI (Indonesian Society of Creative and ICT Industries). We will form strategic partnerships to market their products to TELKOM’s 150 million subscribers in 10 countries.”
Furthermore, to promote the event, TELKOM will conduct road shows in six cities i.e. Jakarta, Yogyakarta, Medan, Palembang, Surabaya, and Denpasar Bali. From this road show, TELKOM hopes to be able to scout more potential startups to join in developing the telecom business.
Those of you who are committed and determined to grow in the startup environment, go submit your idea, product, or business to Indigo Incubator. There are 10 categories: tourism, finance and banking, co-operatives, education, public services, transportation and logistics, health apps, smart home and mobility, digital entertainment, and digital media advertising.
There are two batches to choose from — one starts in May 2014 and the other in July 2014.