Australia-based food and beverages company Coca-Cola Amatil has announced that it will extend its corporate venture capital (CVC) initiative, Amatil X, to Indonesia.
“The move aims to capitalise on Jakarta’s fast-growing reputation as the next start-up capital of South-East Asia in terms of number of deals and size of investment,” the firm said in a statement.
Amatil X was first launched in April last year in Australia and New Zealand, and has made multi-million dollar investments in Melbourne-based payment platform Doshii and Singapore-based F&B digital ordering platform Tabsquare.
“Amatil X has not just increased our competitive advantage through corporate venturing platforms, this initiative will also help us to identify and work with startup partners who are fit for our business in Indonesia,” Coca-Cola Amatil Indonesia president director Kadir Gunduz said in a statement.
The CVC arm will invest in startups in the areas of on-demand delivery, distribution optimization, in-store analytics and environmentally friendly packaging.
Coca-Cola Amatil X Indonesia will begin operations this month and has launched a pilot partnership with Digitaraya, an accelerator program supported by Google Developers Launchpad.
The F&B giant also announced the launch of an accelerator program, Amatil X Academy, in Indonesia in collaboration with Australia-based venture builder BlueChilli.
“Research suggests that 70% of Indonesian millennials are interested in becoming entrepreneurs,” said Coca-Cola Amatil group managing director Alison Watkins.
“Through the Amatil X Academy, we will identify our intrapreneurs and give them the opportunity to develop their ideas through a structured internal accelerator program,” she added.