Global startup competition G-Startup Worldwide announced aquaculture investment platform GrowPal as the first-place winner of G-Startup Indonesia 2017.
GrowPal is a P2P lending platform that aims to help freshwater fishermen raise funding for their business.
The startup is currently working with fishermen in Pacitan, Situbondo, Karimun Jawa island, and Makassar.
Founded by Paundra, GrowPal claimed to be profitable with US$1.5 million GMV. It monetises by taking 15 per cent of every investment.
It partners with export companies which ship the fish products to the US, France, and Russia with grouper and shrimp being the most popular fishery product in the platform.
Apart from winning a US$150,000 investment from GWC Innovator Fund and Kejora Ventures, GrowPal will also represent Indonesia at the G-Startup Worldwide final round in Silicon Valley.
Apart from announcing GrowPal as first place winner, the competition also announce Squline as second winner and Shipper as third winner.
Squline is an e-learning platform to study foreign languages with native speaker teachers. It enables students to learn English, Mandarin, and Japanese through live video calls and conversation through a subscription model. It also provides corporate services through group classes.
Claiming to generate revenue since Day-1, Squline said it has 2,500 students on board with 20 per cent monthly growth. It expects to generate US$1 million revenue next year.
Shipper is a full-service logistics aggreggator platform. The company targets home-based small retail businesses who sell their products online; the problem that these businesses are facing is that they are working with different logistics companies, and have to contact them one-by-one for shipping.
The startup simplifies the process by connecting businesses to logistics companies through their platform. Shipper will then assign a courier to pick-up the products to be dropped in logistics service providers.
Founded by Budi Handoko, the startup is currently run through bootstrapping and will officially launch their service in early October
The startups are being judged by a panel of judges consisting of Martin Hartono (CEO,GDP Venture), Andy Zain (Founding Partner, Kejora Ventures), Barrett Parkman (Partner, GWC Innovation Fund) and Peng T. Ong (Managing Director, Monk’s Hill).
The G-Startup Worldwide is a global startup competition that aims to find “the most innovative” early stage startups and enable them to “change the world.”
The final round of the competition was held during the Global Mobile Internet Conference (GMIC) Indonesia 2017 in Serpong. The one-day event invites tech industry players across Southeast Asia to connect and share insights about the industry.