Indonesian Internet pioneer Shinta ‘Bubu’ Dhanuwardoyo, together with serial entrepreneur Jenny Q Ta, on Tuesday launched VCNetwork, a global-scale matchmaking platform for startups and investors.
Through this new platform, startups are able to search for investors who are focussing in the same business type as they are, then make a more targeted pitching effort with a greater possibility of success.
As reported by Finance Magnate, Dhanuwardoyo and Ta’s goal was to develop a platform that would be able ‘to funnel the most fitting startups to each investor’.
Ta used the reality show Shark Tank as an example to justify their goal.
“Results from the show reveal that Shark investors tend to concentrate their investments in areas of their expertise,” she said.
“VCNetwork was founded with this approach to only forward startups seeking funding to investors that are most likely to be interested in their field of business,” she added.
Not only will that help startups make a more targeted pitch, it also helps investors to sort out the most suitable applicants as they tend to receive ‘too many pitch desks and business plans’, a pain point that also affects the likelihood of a business getting funded.
The platform is launched with an international outlook as Dhanuwardoyo noted that US investors tend to focus more on the domestic market, missing out opportunities in Indonesia and Southeast Asia in general.
“The tech startup scene is new to the region, but the value that firms there can provide to investors is access to fast-growing markets, as well as a mobile-first company culture,” she explained.
“Money is arriving too because investors see it growing,” Dhanuwardoyo added.
To use the platform, startup founders have to upload a business plan onto the site and fill a profile that includes budget estimation and business type.
The system will then automatically generate a list of the most suitable investors. If the investors are interested, then they will be able to contact the founders for a follow up.
At the moment, VCNetwork has 300 investors in its network, with Dhanuwardoyo and Ta targeting to have at least 1,000 before pushing startups to register.
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