Startup Studio Indonesia (SSI), a startup accelerator backed by the Ministry of Communication and Informatics of Indonesia (Kominfo), has announced that its alums have collectively secured funding worth US$65.8 million (Rp977,6 billion) since its launch.
The programme has opened registration for its seventh batch, which looks to admit 18 early-stage startups, bringing the total number to 115. One business analyst assigned to guide the startup will assist each participant.
Startup Studio Indonesia will continue supporting the development of early-stage startups by improving their product iterations and business models and enhancing user retention before entering the market expansion phase.
SSI assists startups in increasing their chance of funding by helping them focus on finding product-market fit (PMF) and networking and learning from the best startup players in Asia.
Also Read: Being prudent in spending should be at the heart of every management conversation: Aerodyne CEO
The participants will also receive four-month guidance from experienced coaches. There are a total of approximately 110 coaches, including the CEO & Founder of Xendit Moses Lo; CEO & Co-Founder of eFishery Gibran Huzaifah; the CEO & Founder of IDNTimes Winston Utomo, the CEO & Co-Founder of Halodoc Jonathan Sudartha, COO & Acting CEO of Bukalapak Willix Halim; and the MD & CCO of Gopay Budi Gandasoebrata.
Startups looking to join the programme should be bootstrapped/ in pre-seed/seed/pre-Series A funding stages; have a differentiated product; have at least six months of traction with a 5 per cent month-on-month growth; and have the potential to scale up.
The programme aims to support the development of 150 early-stage startups by 2024. It has already accelerated 97 startups.
Semuel Abrijani Pangerapan, Director General of Informatics Applications at Kominfo, said: “We will make every effort to support startups in Indonesia. We can anticipate the presence of extraordinary startups from Indonesia through the Startup Studio Indonesia programme.
Visit startupstudio.id to apply for the programme.
Since its launch in September 2020, approximately 30-40 alumni of Startup Studio Indonesia have been able to secure seed or pre-seed funding after completing the program. The names include supply chain management startup Baskit (raised pre-seed funding of US$1.5 million in March 2023) and CRM solution developer startup Looyal (secured pre-seed funding in May 2023).
—
Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here.
The post Startup Studio Indonesia alumni raise US$65.8M in funding appeared first on e27.