Indonesia’s Telkom, through corporate venture arm PT Metra Digital Investama (MDI), has signed an agreement with Australian carrier Telstra’s venture capital arm Telstra Ventures to jointly explore investment opportunities in growing tech startup space in the Southeast Asia.
Nicko Widjaja, president of MDI, and Group Executive Internasional & new business head Telstra Cynthia Whelan signed the MoU in Jakarta last week.
Over the past five years, Telstra Ventures has invested over A$200 million in more than 30 different technology companies. With many businesses and a population of 600 million people in Southeast Asia, including majority of social media users and mobile phone users in the world, Telstra believes that now is the right time to collaborate more closely with Telkom, Indonesia’s largest telco firm, the Australian carrier said in a statement.
There are many opportunities seen in areas like e-commerce, e-health, the internet of things (IoT) and fintech, Whelan added.
“Through our existing joint venture with Telkom, Telkomtelstra, we have seen the pace with which new businesses are reaching scale in response to the digital transformation of the economy and the fact that the middle class in this part of the world is expected to double over the next decade,” she added.
Telkomtelstra, a joint venture established in the previous agreement with Telkom, supplies network application services – corporate computer and telecommunications services – to large companies and enterprises based in Indonesia. The company is 51 per cent owned by Telkom.
Telkom Indonesia Director Indra Utoyo said the recent MoU will give Telkom access to Telstra’s experience and existing relationships in global startup centres in Silicon Valley, China and Israel.
“Today, our continued partnership extends to collaborating on venture opportunities in the region, where we will again leverage both Telkom and Telstra’s deep local expertise as well as experience in global ventures investments,” said Pak Indra.