Indonesia: Telkom partners US accelerator Plug and Play; Jurnal raises Series A round

Photo by Telkom

Indonesia’s state controlled PT Telekomunikasi Indonesia Tbk (TLKM), better known as Telkom, plans to support 200 startups in 2016 while Jurnal, a provider of online accounting software for small and medium enterprises, is receiving Series A funding.

Telkom to support 200 startups in 2016, ties up with PNP

As part of a move to develop the startup ecosystem in Indonesia, Telkom said it aims to prepare 200 startups or software application companies in 2016.

“Currently, Telkom is mentoring 40 startups. We continue to search for innovation or technology from startups in Silicon Valley to set up synergy with Telkom Group,” Director for Innovation and Strategic Portfolio of Telkom Indra Utoyo said in a press statement.

He added, Telkom through its subsidiary PT Metra Digital Investama (MDI), is the first Indonesian company to cooperate with US’s Plug and Play (PNP) to support the development of the startup ecosystem in Indonesia.

Telkom said, it has sealed an agreement with US-based business accelerator Plug and Play on the sidelines of President Joko Widodo’s visit to Silicon Valley, marking the start of a collaboration for a startup-coaching programme.

The agreement covers sourcing deals which will provide access for Indonesian startups to Silicon Valley. Telkom’s own startup incubator Indigo will send at least two startups to Silicon Valley in the second quarter of this year.

Saeed Amidi, Plug and Play chief executive, reportedly mentioned Indonesia as the “digital energy of Asia” during President Joko Widodo’s visit to his office.

Communications and Information Technology Minister Rudiantara said, seven US-based business incubators, including Plug and Play, has noted its interest in Indonesia and offered assistance in coaching local mentors.

“Our main strategy is to build a strong and sustainable ecosystem foundation,” Rudiantara said in a statement.

East Ventures, Fenox, and angels invest in Jurnal

East Ventures, Fenox Venture Capital, angel investors Budi Setiadharma, President Commissioner of Astra Internationalhave invested in Jurnal, local media reported.

“This funding will be used for product development and infrastructure scaling. Furthermore, we will do business development through partnership or collaboration with other companies and governments,”said Anthony Kosasih, co-founder of the Jurnal.

Cuaca Willson, Managing Partner, East Ventures, said, it is time to help 57 million small medium enterprises (SMEs) in Indonesia, to enhance their competitiveness in the Asian Economic Community through control of financial arrangements, facilitated by the Jurnal.

With over 7,000 current users, Jurnal offers the benefit to running a business anywhere, anytime, and by anyone. With this, the owners are free to do business at the place and time they want without losing control of their businesses even when not in the office.

All documents such as invoices, PO (Purchase Order), and receipts can be created automatically and stored securely. Plus features such as automatic asset management, and multi-warehouse inventory, as well as a variety of other features to support business performance to be more professional so that relationships and trust with customers and suppliers can be easily forged.

Also Read: 

Telkom Indonesia to set up $75m venture capital business

Indonesia-based Jurnal receives undisclosed seed funding from East Ventures

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.