Last year, Catcha Group released three predictions related to the future of Indonesian startup industry up to the year 2020. One of them was about the next unicorn company to come from the market, which was predicted to be from the fintech and healthtech sectors.
There might be some truths in the prediction. Indonesian healthcare market valuation is predicted to reach US$363 billion by 2025, up 18 times from the US$20 billion in 2010. This rapid increase is driven by the booming demand for healthcare services.
Behind this great potential, several challenges continue to haunt the local healthcare service industry, such as the limited number of medical professionals in rural areas and uneven distribution of healthcare facilities. There is even a belief that healthcare is something that is only accessible for upper class society
Having been known as the co-founder of Indonesian traveltech startup Tiket.com, Natali Ardianto jumps into the healthtech sector with a new startup that is set to be launched by the end of the year. After dabbling with fintech startup EmasDigi, Ardianto confirms that he had exited from the startup and is dedicating his time to develop the new healthtech company.
“Personally I enjoy starting over something from zero. The total addressable market (TAM) for healthcare industry [in Indonesia] is huge, but we still have not found any success story in this market. The same goes with online travel agencies; when Tiket.com was released in 2011, it was also due to a large TAM and lack of outstanding player,” he explains to DailySocial.
Also Read: Natali Ardianto joins EmasDigi as CTO
Ardianto considers the Indonesian healthtech industry to be in its infancy –this means many players have just realised its true potential and are now competing to be the biggest. He has no worries about this matter as he sees many opportunities to explore with his new company.
The man is now the Co-Founder and CEO of Indopasifik Teknologi Medika Indonesia (ITMI) as well as Advisor for Indopasifik Medika Investama (IMI). IMI is a holding company behind pharmacist PharmaPlus, homecare service platform Homecare24, general practitioner and specialist clinic PrimeCare Clinic.
IMI is affiliated with the Kwari family, who has been working in the healthcare sector for 40 years.
ITMI will be a healthtech startup under IMI that offers two services, set to be launched by the end of the year. Due to several considerations, Ardianto is unable to share further details about the startup, such as its name and sector.
“We are still unable to disclose what the service will be about, but we are building two digital products that are going to be launched by end of the year,” he says.
ITMI will be the fifth startup that Ardianto is working on. His first startup was city directory platform Urbanesia, which had been acquired leading news platform Kompas. He had also worked on golf course booking site Golfnesia, online travel agency Tiket.com (which was acquired by Djarum Group through BliBli), and gold trading platform EmasDigi.
Optimism in ITMI
Despite his unwillingness to share any detail about ITMI, Ardianto expresses his optimism for the company. He projects that it will be able to make profit and grab 0.07 per cent of market share in Indonesia within just two years.
Ardianto believes that this is feasible as the concept has been proven successful in other countries. ITMI is merely replicating and modifying it for the Indonesian market; he also hinted that such service is currently available in the market in offline form.
“It’s the same as Go-Jek. They digitised the long-existing service of motorbike taxis; it is basically what we are doing at the moment. If you are trying to digitise a product, you need to know how to convert it into an online form. This is our task as engineers, while the experts are looking at the industry itself,” he says.
Currently on development stage, ITMI product will complement those of the sister companies within IMI ecosystem.
The company is run by a team of 11, which had only begun working on June 17. Ardianto serves as a co-founder with four other people; all of them happened to have worked at Tiket.com.
Ardianto expects to recruit engineers to accelerate the development of ITMI to 52 people by the end of the year. ITMI has also been supported by a pre-Series A funding round from its holding.
“As a CEO, I get to run the company the way I really want it to be. So the key here is execution; this is why we cannot say much at the moment. I hope that my experience [from the previous companies] will enable us to get it right,” he closes.
Ardianto’s entry to the healthtech sector is the latest amongst the country’s existing companies such as Alodokter, Halodoc, Medigo, HubSehat, Ayomed, Periksa.id, SehatQ, and Medi-Call.
The article Optimisme Natali Ardianto Seriusi Segmen Healthtech was written in Bahasa Indonesia by Marsya Nabila for DailySocial. English translation and editing by e27.
Image Credit: Natali Ardianto