Posts tagged startups

More on Indonesia’s entrepreneurial spirit

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Entrepreneurship is a hot topic in Indonesia this week after the Global Entrepreneurship Program Indonesia (GEPI) event in Bali. This article in the Christian Science Monitor adds strength to the BBC’s earlier claim that Indonesia is the best place in the world to be an entrepreneur in 2011.

It’s not Indonesia’s politics or established structures that created this environment, though. In fact, entrepreneurs there seem to thrive despite excessive regulation, poor access to finance and inadequate physical infrastructure. Instead it is Indonesia’s unique cultural environment: a young population, many tech-savvy and with overseas education, leading the way. Young entrepreneurs are looking at their country and trying to solve its problems piece by piece with the resources available.

Indonesia is embracing modern methods and techniques to interact. The country is already home to the world’s second largest Facebook population and its third-largest on Twitter. There’s a proportionately large number of mobile internet users and around 700 active tech start-ups, with a new one each week.

The United States is doing what it can to support the entrepreneurial wave in Muslim-majority countries, and it is Indonesia that has been quickest to make the most of it. The Global Entrepreneurship Program is a US State Department initiative funded in part by USAID and Indonesian partners, and last week’s GEPI event drew at least 11 major US-based angel investors.

source & article: Christian Science Monitor

Indonesian courier start-up Go-Jek wins fame, prize

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Small Indonesian start-up Go-Jek is getting plenty of coverage today after winning a US$10,000 prize in the Global Entrepreneurship Program: Indonesia. The company, which uses ‘ojeks’ (motorcycle taxis) as courier drivers, also accepted donations from a prominent US entrepreneur and is looking into further partnerships with foreign companies.

Click here for a CNN Video report on Go-Jek

Indonesia’s cities, especially Jakarta, have become notorious for traffic gridlock in recent years, as the booming economy puts more vehicles on the roads than current infrastructure can handle. Short of a helicopter, the best way to beat traffic jams is on the back of a motorcycle, and there are plenty of people offering the back half of their saddle for a reasonable price.

Go-Jek took the concept of ojek service and made it more reputable with a bright green branded image and reliable drivers. In operation since February 2011, they take passengers and will courier any package that can be carried on a motorcycle. As well as being cheap, the company offers a decent and much-needed income stream to Jakarta’s legions of motorcycle riders.

The Jakarta Globe has an interview with 27 year-old co-founder and chief executive Nadiem Makarim, who founded Go-Jek in February 2011 with partners Brian Cu and Michaelangelo Moran. The company now has seven full time employees, over 200 regular drivers, 80 pick-up points across Jakarta with over 600 unique customers and 50-60 jobs a day. The founders plan to use their new fame and investment to drive a large expansion over the coming year.

The Global Entrepreneurship Program Indonesia (GEPI) held a showcase of Indonesian startups in Bali from 22-24 July, attracting interested angel investors from the US and around the world. Organizers said the response was “beyond expectations”.

sources & articles: CNN, Go-Jek, gepi-indonesia.org, Jakarta Globe

New fund to help med-tech startups in Singapore

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The Singapore Government has launched a new initiative to encourage medical technology startups, offering a S$40 million (US$32.6 million) fund under the Biomedical Science Accelerator (BSA) Program.

Singapore’s entrepreneurship promoter SPRING Singapore said its investment unit SPRING SEEDS Capital will manage the program, identifying ‘high-potential med-tech startups’, investing in them on a one-to-one basis and assisting the sector to better commercialize the intellectual property it develops.

Biotech is a key contributor to Singapore’s economy, consisting of 10% of Singapore’s manufacturing output and employing 13,000 people. The BSA program acknowledges that startups in the field often struggle with its knowledge and capital intensive nature, and aims to help those with innovative ideas succeed.

source & article: Today Online

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