Telkom’s MDI Ventures to invest $25m in 10 Indonesian startups in 2016

Photo by Telkom

Indonesia telecom operator Telkom’s venture arm, Metra Digital Innovation (MDI) Ventures, said it will allocate Rp 300 billion ($25 million) to invest in 10 startups this year. The move is part of state-owned Telkom’s initiative to enable innovation and build synergy with the group’s core business.

MDI chief executive officer Nicko Widjaja said, the firm is is aiming to take five to six new startups under its wings soon.

“We are still in the due dilligence process. We are targeting about 10-15 startups operating in various sectors such as sales, big data, and deep learning this year,” said Widjaja.

MDI Ventures focuses on investments that enhance digital experience such as digital ads, big data, payment solutions, cloud computing, e-commerce, blockchain, and internet of things.

Singapore’s software firm Ematic Solutions and Indonesia’s virtual personal assistant company YesBoss are among MDI Ventures’ portfolio companies.

Also Read: Singapore: Ematic Solutions closes pre-Series A investment of $1m

Its partners include US-based Plug and Play (PNP) and France’ Orange SV, as well as AME Ventures, 500 Startups, and WaveMaker.

Founded just last year, the company is headquartered in Jakarta with operations in Singapore and Silicon Valley.

Meanwhile, Telkom’s own startup incubator Indigo, which is also jointly operated by MDI Ventures, is mentoring 40 startups with a budget of IDR 100 billion.

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

Assisting startups from early prototype stage and providing guidance through customer, product, and business model validation stage, Indigo will be sending three startups it mentored to Silicon Valley next week as part of its immersion program.

“The program’s biggest aspiration is to enable innovation at the earliest stage of development, as one of the catalysts in building Indonesia’s startup ecosystem,” said Ery Punta, Deputy Executive of General Manager of Indigo.

Telkom Group, which has a mobile subscriber base of 150 million, had committed to support at least 200 startups in 2016, especially those with high synergy value to the group’s businesses.

Also Read:

Telkom Indonesia to set up $75m venture capital business

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.