- 13/09/2023
- Category: Uncategorized
Yogyakarta, 8 September 2023 – The phenomenon of the development of the start-up ecosystem, which is the backbone of Indonesia’s digital economy, presents great opportunities for new entrepreneurs. However, the existing challenges necessitate special strategies and attention to maintain stability, especially for developing start-ups. The initiative of the Digitalk #58 X BUMI (Creating for the Indonesian Community) Discussion Forum: “Understanding the Opportunities and Dynamics of the Start-up Industry” is organized by the Center for Digital Society (CfDS) at Gadjah Mada University (UGM) in collaboration with Intudo. It is aimed at serving as a platform for stakeholders in the start-up industry, experts, students, and the general public to introduce various dynamics within the current Indonesian start-up ecosystem.
The discussion presented three key persons from three start-ups in Indonesia, namely Intudo, together with Patrick Yip as Intudo Founding Partner, Timothy Astandu, CEO and Co-Founder of Populix, and Kenneth Tali as CEO and Co-Founder of SerMorpheus. Not only sharing sessions in talk show format, C-Level also invited participants to get closer to each other in networking sessions. This session is a golden opportunity for participants to access career opportunities in start-up companies, as well as a medium for developing ‘digitally literate’ human resources that are well-suited to the current needs of companies.
Syaifa Tania, Executive Secretary of CfDS UGM, said that this activity was a real effort by CfDS UGM to support the development of Indonesian digital talent. “We really welcome this moment with enthusiasm. We are actively working with partners from various lines to match them with digital talent who are ready to compete in the industry,” said Tania in her speech.
The growth of start-ups in Indonesia, currently numbering 2,483 according to Databoks, is propelled by advancements in network technology, a substantial population, collaborations between entrepreneurs, investors, and government support, along with investors’ keen interest in the start-up ecosystem. Intudo, as a venture capital firm, together with their portfolio companies, Populix and SerMorpheus, is actively engaged within Indonesian society. They have emerged from a sense of urgency and are determined to participate in the dynamics alongside various start-ups created by fellow countrymen, offering solutions through digital start-up platforms.
In the show and tell session during Digitalk #58, Timothy Astandu, the CEO and Co-Founder of Populix, introduced his start-up. “Populix is a start-up that can assist you with research needs, as well as serve as a survey solution to support individual and academic requirements,” said Timothy.
Sharing his experience in building a start-up, Timothy also provided fresh insights for fellow start-up enthusiasts. “Talking about building a start-up is certainly not an easy thing. In the world, there are challenges. Every start-up has to start from ground zero. It must have a strong technological foundation that can impact and disrupt the world,” Timothy stated.
When it comes to conceiving a start-up in the rapidly evolving industry landscape, creativity and adaptation are undeniably essential factors, exemplified by SerMorpheus. The creative initiative brought by SerMorpheus aims to introduce Web3 to the general public in a more easily understandable manner. “SerMorpheus, as a start-up in the cryptocurrency and NFT field, presents our flagship product, Konser.co.id, an event organization application. Through this application, our focus is to build attestation and loyalty through the collection of ‘stickers’ similar to NFTs,” as introduced by Kenneth.
Among the numerous start-ups contributing to the development of the e-economy, Intudo emerges as a driver of progress in the national start-up industry. They believe in the excellence of Indonesian-born start-ups, asserting that their market is just as robust as the international market. “We were born in Indonesia, only invest in Indonesia, and solely for Indonesia,” emphasized Patrick Yip.
Through BUMI (Creating for the Indonesian Community), Intudo is intensifying the empowerment of Indonesian students to join the digital ecosystem. “We are ready to assist digital talents in Indonesia in learning together from industry experts, building relationships, and expanding their horizons,” stated Patrick.
When faced with the challenges and dynamics of start-up development, numerous influencing factors undoubtedly come into play. Thoughtful consideration through the role of the internal team becomes one of the crucial aspects. “Collaboration among stakeholders, be it from the academic, industry, private sector, or government side, is expected to support the readiness of the Indonesian community to embrace digitization, AI, and other upcoming innovations,” concluded Patrick.
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The Center for Digital Society (CfDS) is a research center affiliated with the Faculty of Social and Political Sciences at Gadjah Mada University. CfDS focuses on issues and studies related to technology development, digitalization, and the digital society, including digital businesses and lifestyles. Through various research projects and public discussion events, CfDS provides educational opportunities for the public to understand the impacts of technology on various aspects of life. CfDS, through DigiTalk, offers a platform for public discussions that revolve around the development of the digital world in society. This event is regularly held each month by CfDS. In this agenda, in collaboration with Intudo Ventures, DigiTalk #58 x BUMI discusses the Opportunities and Dynamics of Start-ups in Indonesia.
