INDONESIA ENTREPRENEURS

ECOSYSTEM MAPPING 2021

Paving the way for the impact technology industry

By ANGIN and Blue Impacts

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ABOUT ANGIN

Founded in 2016, ANGIN has grown into the largest early-stage investment platform and advisory consulting firm in
Indonesia who pool resources together to engage in early-stage investment and mentoring. ANGIN acts as a bridge
to support both investors and entrepreneurs with key services along the fundraising journey. More than 130 investors,
high-net worth individual, venture capitals, corporates and startup enabling organisations (SAO) have joined as client to
support Indonesia’s economic development by investing in the next generation of entrepreneurs and by bringing best
in class practices to Indonesian early-stage investments. ANGIN strives to do that with an independent private sector
approach and by being who we serve (investors, entrepreneurs, capacity builders).

ABOUT IMPACT X, BLUE IMPACTS

Blue Impacts seeks to discover, support and scale impact technologies solving environmental and development
related challenges. Focus areas include food systems, energy and carbon, inclusive finance, urban resilience,
improved health and circular economy. Blue Impacts has offices in Singapore, Australia, and China.

A startup innovation challenge, called SHIFT!, is a discovery platform established by Blue Impacts with partners in 8
cities across the Asia Pacific. Designed to discover impact technologies at their earliest stage, Shift! takes a deeper
approach to developing startup ecosystems at the local level.

The company brings innovators together with investors, buyers, and experts at the Impact X Summit, to match and
help scale. In 2021 and 2022, Impact X Summits will take place in Australia, China, and the Netherlands.

ACKNOWLEDGEMENT DISCLAIMER

ANGIN This Report is prepared by a team from ANGIN and Blue Impacts.
Writers: Aisha Nadira, Devina Hermawan, Fillary Susanto The organisations featured in the report are based on ANGIN’s
Supervisor and Advisor: Benedikta Atika, David Soukhasing intereaction and observation with the Indonesia’s Impact
Reviewer: Hyacynthia K, Yohana Parida Investment Ecosystem. Any reproduction in full or in part must
mention the title of the report and credit the above-mentioned
Blue Impacts publisher as the copyright owner.
Writers: Hollie Chung, Jiaming Ow
Contents 4 31
Introduction Government Bodies and
Not-for-Profit Organisations

6 37
Ecosystem Stakeholders Private Corporations

8 40
Suporting Organisations Honorable Mentions

19 45
Investing Organisations Opportunities

27
Service Providers
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INTRODUCTION
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INTRODUCTION

In the past year, our lives has been challenged in many REPORT LIMITATIONS
ways or another. A huge focus has been placed on
public’s access to health services and a steady and local BROAD SCOPE SELECTION BIAS
supply of food and water, while extreme weathers are still This report zooms in on some of the key players supporting the This research is prone to selection bias and reflects ANGIN’s
haunting us with frequent floods, droughts, and heat waves. startup ecosystem in Indonesia that also contribute in paving team opinion which is based on our interaction and observation
Environmental and social well-being is vital to a country’s the way for impact technology startups to grow. Highlighting over the past few years, with a strong focus on what was going
health and prosperity. The Indonesian Government and the work from investors to service providers, these key players on since 2019 until 2021. The objective of this list is to act as
an increasing number of companies are committed to in the ecosystem are building the foundation for startups to a starting point to bring more clarity on the impact investment
addressing the United Nations Sustainable Development make a positive impact through tech-enabled solutions. This and social enterprise ecosystem. We have for sure missed
Goals and work towards a more resilient economy. These report use the term impact in a broader scope. Not only social several high contributors and change makers but we have
entities are also eager to identify innovative ideas and enterprises deliver “impact” (i.e. achieve positive social and to be focused on highlighting the stakeholders who come
technologies from startups and entreprenurs to challenge environmental impact through the business). “Impact” can be instinctively to our mind.
the business-as-usual trajectory. With a third of the youth a vague concept and while social enterprises intetionally state
population aspiring to become entrepreneurs, according that they are pursuing “impact” and have the duty to measure PROJECT AIM
to the 2018 survey on youth attitudes in Association of it. Some of these players that may be working in Impact Areas This report aims to highlight and identify the possibility in
Southeast Asian Nations (ASEAN) countries, and the rise also contribute to achieving “impact” without stating it openly or aligning existing efforts in Jakarta’s startup ecosystem to
in youth-led climate actions around the world, more young with a capacity to measure it. nurture, invest and scale startups and entreprenurs with a
entrepreneurs have taken the responsibility to include focus around climate and sustainable development goals.
environmental and social problems on their agenda. REMOTE COLLECTION OF PRIMARY DATA Focus group studies and surveys are to be conducted with the
Due to COVID-19 restrictions and uncertainties, first-hand stakeholders listed in this report and over the course of the
There is an emerging trend of Impact Technology, where field visits and in-person interviews were not possible for all discovery to gather data and insights on the subject matter. We
business ideas are backed by science, technology data collection. Industry knowledge was drawn from desktop aim to analyse the collected data and publish the Indonesia’s
and innovation to benefit people and the environment. analysis and online interviews. Startup Ecosystem Findings Report in Q4 2021.
Given the complexity to measure and track social and
environmental impacts, we hope to introduce a new
perspective and mechanism to ignite, re-align and join
forces with existing efforts in the startup ecosystem to
build the community that tailors to nurturing these young
and mission-led innovators and entrepreneurs so that their
impacts can scale and eventually lead our nations towards
a sustainable era.
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ECOSYSTEM
STAKEHOLDERS
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OVERVIEW

INDONESIA ENTREPRENEURS ECOSYSTEM MAPPING 2021

SUPPORTING ORGANISATIONS INVESTING ORGANISATIONS SERVICE PROVIDERS PRIVATE CORPORATIONS

STARTUP ACCELERATORS AND INCUBATORS IMPACT INVESTORS BANKS MEDIA LEGAL LARGE INDONESIAN CORPORATIONS
SERVICES
FIRMS

ACADEMIC INSTITUTIONS CO-WORKING SPACES INVESTOR CERTIFICATIONS AND MULTINATIONAL CORPORATIONS

INTERMEDIARIES MEASUREMENT

AWARDS AND COMPETITIONS EVENTS MAINSTREAM INVESTORS IN IMPACT GOVERNMENT BODIES AND NOT-FOR-PROFIT ORGANISATIONS

THE INDONESIAN GOVERNMENT FOREIGN GOVERNMENT AND

DEVELOPMENT INSTITUTIONS

ESTABLISHED TECHNOLOGY COMPANIES

FINTECH NON-GOVERNMENTAL ORGANISATIONS

THINK TANK AND NETWORKS

ASSOCIATIONS CONSULTING FIRMS

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1.
Supporting Organisations
Supporting organisations play a fundamentally instrumental role for the flourishing of a startups ecosystem.
Organisations such as accelerators, university networks and venture builders work closely with founders
to provide guidance and a nurturing environment for our impact entrepreneurs to grow their ideas from
seedlings to self-sufficient organisations. While awards and competitions do a great deal in raising
awareness and shining light on the achievements of our social entrepreneurships. In short, words cannot do
justice for the indispensable contributing roles of these organisations to the overall startup ecosystem!
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STARTUP ACCELERATORS AND ACCELERATING ASIA ENVIU

INCUBATORS

Incubators and accelerators are a great force to identify Singapore-licensed venture capital fund that runs an award- Enviu is a ventures builder from the Netherlands that provide
and motivate our entrepreneurs. They have designed their winning accelerator program. The combination of its program, capacity building programs for startups with impact angles to
programs to support and nurture startups and founders venture capital fund, and consulting services would accelerate grow. In Indonesia the venture builder is supporting startups in
the technical knowhow to polish their ideas into business more female-founded startups in Southeast and South the circular economy area.
opportunities and connect them with the wider ecosystem Asia. Most recent cohorts includes two Indonesian startups,
so they can vest for other levels of support. Ranging from KaryaKarsa and MyBrand.
early stage incubators to programs dedicated to help
facilitate IPOs, these organisations are varied in structure,
target demographics, and mandates. On the other
hand, venture builders are organisations dedicated to
systematically producing new companies, which they help ANTLER IMPACT HUB JAKARTA
grow and succeed.

Antler is a Singapore-based venture capital firm which has As a network and community for social/environment
offices in London, New York, Singapore, and Sydney. They entrepreneurs, business incubator, innovation lab, and change
are on a mission to drive significant changes by generating makers in Jakarta, Impact Hub Jakarta is definitely a great
solution-based companies. In 2019, they landed in Indonesia to addition to Indonesia’s impact ecosystem. Together with their
assist founders in executing ideas and discovering their teams. partners, such as UNDP, WWF, GIZ, DFAT, The Incubation
Network, and SIAP, they support programs in Indonesia’s impact
ecosystem, such as Accelerate2030, Startup Weekend: Social
Innovation, and Circular Innovation Jam.

ENDEAVOR IMPACTTO

Endeavor is the place to find superstar mentors and high- As a venture builder, Impactto liaises and prepares early-stage
impact enterprises, focusing on scaling up entrepreneurs startup founders to succeed in the industry. Since 2019, they
who contribute to the GDP and SDGs. Its flagship massive have been helping their clients like the MRT Jakarta, Startup
mentoring sessions are always a must to access talents, Studio, and Transfer. Check out their IMPACTTALK webinar
pipelines, and local networks. Entrepreneurs selected in the series on Youtube to know more.
program would have access to the Endeavor Investor Network
and Endeavor Catalyst.
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STARTUP ACCELERATORS AND INSTELLAR SIAP

INCUBATORS

One of the veteran impact players in Indonesia. Instellar assists Launched by William Hendradjaja, the former co-founder of
social entrepreneurs through a mix of cohort-based incubation Impact Hub Jakarta, and Adryan Hafizh, SIAP has assisted
and acceleration programs for 6 months (called RISE Inc.), aspiring and early-stage social entrepreneurs to advance their
advisory services, and access to the network. This year, impact solutions and business skills. SIAP has been expanding
Instellar and Johnson & Johnson Impact Venture co-create its activites outside of Jakarta through several programs,
SEHAT Impact Accelerator 2021, an accelerator program supported by DICE program from British Council (in Makassar,
specials for startups in the healthcare sector. Malang, and Solo) and SIAP for DESA in Sumatra.

NEXUS FOR DEVELOPMENT SUPERNOVA ECOSYSTEM

(NEW ENERGY NEXUS)

Nexus for Development supports entrepreneurs through As a relatively new organisation, Supernova Ecosystem
acceleration programs and early stage funding. Headquartered aims to catalyse impact investment by scaling up and
in California, it have expanded and planted offices in Indonesia, commercializing sustainable businesses in sub national levels
China, and India. Their small fund launched in 2020 plans to (e.g rural areas). They also specialize in bridging stakeholders
invest up to 15 startups by the end of 2021. along the value chains.
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ACADEMIC INSTITUTIONS BINUS UNIVERSITY UNIVERSITAS INDONESIA

(UI)

Universities and academic insititutions play the unique BINUS has several alumni now working in VC firms, impact The top academic institution in Indonesia. UI has shown a
dual role in both research and incubation. Some of the investors, and social enterprises. Without mentioning that sustained commitment to supporting social entrepreneurs.
most prominent entrepreneurs and startup talents William from Tokopedia is one of its successful past students. Since 2005, UI’s UKM Center has been developing over
come from the universities we have listed here. We will Under BINUS Startup Accelerator (BSA), the school runs two 1000 SMEs based in the community within the university
not be surprised if the next Facebook was born in a initiatives, Bootcamp and UPcelerator to foster entrepreneurs network. One of the entrepreneurs supported by this program
student’s dorm! among its stakeholders. is Mycotech, an Indonesia-based bio-material manufacturer.
Many successful social entrepreneurs and top ecosystem
builders are part of UI’s alumni network.

INSTITUT TEKNOLOGI BANDUNG UNIVERSITAS PELITA HARAPAN

(ITB) (UPH)

Seen as the MIT of Indonesia, ITB has been a good source As a well-known private university in Indonesia, UPH is also
of engineering talent and social enterprise founders. ITB has committed to promoting entrepreneurship. UPH Sparklabs
several interesting programs, such as the 2-week experiential Incubation is a platform owned by UPH for nurturing startups
management program, Social Enterprise for Economic through coaching sessions and startup competition. UPH also
Development (SEED) and The Greater Hub, a business helps startups and entrepreneurs from the university to receive
incubation program which focuses on helping initiators from match funding from investors.
SBM ITB to develop their ideas.

PRASETIYA MULYA UNIVERSITAS GADJAH MADA

(UGM)

Prasetiya Mulya has brought new entrepreneurs and rising One of the top academic institutions in Indonesia based in
local brands in the market. They equip students with mandatory Yogyakarta. UGM shows a commitment in supporting social
social entrepreneurship projects and modules, inspiring entrepreneurs by organising events such as AYSPP (an
students to create impact through the Business Venture and biennial sociopreneurship program also known as ASEAN and
Development Institute. They also supports local entrepreneurs Timor-Leste youth solopreneurs), Soprema (competition and
through community development and New Ventures Innovation incubation for Indonesia youth solopreneurs) and community
program. development program.
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CO-WORKING SPACES BLOCK71 KUMPUL

Starting as a co-working space, it is now operating a

The outbreak of COVID-19 surely is affecting Singapore-headquartered BLOCK71 is operating in Indonesia in co-working management arm that manages several spaces
businesses in various sectors, and co-working spaces partnership with Salim Group (Indofood). It has now presence in in Indonesia. Its commitment to facilitate startups and SMEs
industry is one of the hardest hit . With lockdowns Jakarta, Bandung, Yogyakarta, and Surabaya. It has hosted and in rural areas in Indonesia is manifested through one of its
and mobility restrictions, has brought the industry’s supported a number of enterprises, including social enterprises flagship programs, Dayamaya. Supported by Australia Global
rapid growth to an abrupt halt. However, the coworking 8VIllages and E-fishery. It has also organized a series of Alumni, KUMPUL also initiates a women’s empowerment
spaces are exploring adaptations to their businesses entrepreneurial events, such as Future Agro Challenge, a global program called WomenCreate through a series of
with a strong shift to the digital environment. We see competition for innovative agriculture enterprises with impact. masterclasses.
their support to startup industry and social enterprise
are still very evident. Here are some of the notable
players that are still pushing support for startups to go
by these difficult times. GOWORK MAKADAYA

Also one of the established and fast-growing co-working

spaces (shall we call it the big 4 of co-working) with more than Makadaya is a space and strategic network, established to
25 locations across Jakarta, Tangerang, Surabaya, Bali, and foster a community of changemakers in developing sustainable
Medan. Super active with events, workshops, and meaningful solutions to real social and environmental challenges in
content, Vanessa, the co-founder, has injected good energy Indonesia. Makadaya is founded by the Bali Institute and
to create more impact for the ecosystem. Go pay them a visit, TinkerSpace which is a social enterprise consulting service
they also host some insightful mini-classes and webinars to based in Bali.
level up your skills.
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AWARDS AND COMPETITIONS EY ENTREPRENEUR OF THE YEAR

Awards and competitions also play a big role in putting

social enterprise on the map. We see they take part One of the most prestigious recognition that is given out
in increasing the awareness of impact. They are also annually by Ernst & Young to 1 to 2 founders of a private or
active supporters of social entrepreneurs where some public Indonesia-based company. Previous recipients include
of them channel grants and knowledge support. Tokopedia, Ruangguru, Triputra Group, and Cimory Group .

FORBES 30 UNDER 30

Worldwide award curated by Forbes that highlights key

talents under multiple categories such as social enterprise,
startups, investors, etc. One of the ANGIN employees received
Indonesia’s Forbes 30 Under 30 award and entrepreneurs
working with ANGIN such as Helga Tjahjadi from Burgreens
have also received this award.

SHE LOVES TECH

One of the largest global women-in-tech competitions initiated

by 3 women: Virginia Tan, Rhea See, and Leanne Robers. She
Loves Tech competitions are currently available in more than
30 countries including Indonesia as one of their key markets.
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EVENTS AVPN TECH IN ASIA

CONFERENCE

Prior to COVID-19, events and festivals are important The leading social investing conference in Asia, AVPN Tech in Asia flagship conference series have been resourceful
celebrations to recognise the effort of entrepreneurs Conference, is a melting pot of funders and resource providers for the tech ecosystem players in Asia: from growth hack,
and a wonderful opportunity to meet and greet great worldwide. Every year, they have a great set of programs: product development, talent, to investments. Starting in 2019,
minds alike. With the social restrictions, most of these from panel discussions, breakfast dialogues, deal sharing, they consolidate series of events into one conference. Their
events have move online and in a full digitalized version. workshops, member gatherings, and fellowship programs with Startup Arena Pitch Battle 2021 partners with East Ventures to
topics ranging from impact investing, entrepreneurship, and bring the first Arena pitch battle for environmental, social, and
gender lens investing. governance (ESG) startups in South East Asia.

IDEAFEST

Ideafest is an annual event that has inspired thousands of

youth and creative communities to grow. Through hundreds of
talk sessions, expos, and conferences, they invite and connect
notable creative ecosystem players in Indonesia, from startups,
F&B business owners, content creators, to musicians. Even in
2020, they still hosted the event virtually with a great line-up.

INDONESIA DEVELOPMENT FORUM

Initiated by Bappenas, IDF brings together government agencies,

not-for-profits, and private sectors in Indonesia through
interactive sessions and discussions. In 2021, IDF will come
back with an exciting theme “Indonesia’s Future Industrialization
Paradigm: Value Creation and Adaptive Capacity for Socio-
Economic Transformation” and brings a series of webinars that
aims to enrich the ecosystem knowledge.
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ESTABLISHED TECHNOLOGY COMPANIES BUKALAPAK GOJEK

These established technology companies are Making the headlines with its largest IPO in Indonesian, GO-JEK, an Indonesian ride-hailing giant, has been actively
great supporters in mentoring the next generation Bukalapak is an Indonesia e-commerce that focuses on contributing to the social entrepreneurs circle and economic
of entrepreneurs creating impact. Their efforts on lower socioeconomic class customers. It has been actively empowerment through various strategic partnerships under its
procurement, suppliers, vendors through training and empowering local MSMEs through multiple programs, including investment arm, GO-Ventures. Through its 3PP program, Gojek
access to market, and sometimes funding, plays a vital disbursing funding for small vendors and kiosks to go digital collaborates with startups from different verticals. In 2020,
role in supporting the overall ecosystem. and establishing a partnership with the government and capital Gojek Xcelerate, an accelerator program in collaboration with
providers. Digitaraya, selected 9 startups that focuses on daily consumer
innovation. Aside from releasing their first sustainability report in
2021, the company also announced their roadmap to go public
with Tokopedia under GoTo.

FACEBOOK GOOGLE

Social Impact at Facebook, with a mission to build powerful Google has jumpstarted multiple initiatives to create positive
tools that improve people’s lives, is divided into four main social and environmental impact. Through Google.org Impact
parts: charitable giving, crisis response, health and mentorship. Challenge, social entrepreneurs can submit their ideas to
Facebook has a Sustainability division aiming to achieve net receive assistance and funding. Google has also committed
zero emission across its value chain by 2030. To support small to be carbon neutral by 2030. In Indonesia, Google created
businesses, Facebook has prepared Facebook Small Business Google for Startups Accelerator, a four-week accelerator
Grants program totaling USD 100 million in cash and ads program for Seed to Series A technology startups. Some
credits for business across 30 countries including Indonesia. alumni of the program are Hacktiv8, Kata.ai and Riliv.
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ESTABLISHED TECHNOLOGY COMPANIES GRAB TOKOPEDIA

Apart from being the multinational ride-hailing giant, Grab is As the largest local e-commerce in Indonesia, Tokopedia is
also involved in empowering entrepreneurs and startups in commited to help thousands of local entrepreneurs to go
Indonesia. Working with from five government ministries and online and start a business. Tokopedia partnered with many
agencies, Grab presented Thinkubator Conference and Startup stakeholders to improve the digital economy literacy among
Competition to discover potential startups in 2019. Grab also MSMEs and village-owned enterprises (BUMD). They also
has its venture arm (Grab Venture) and a flagship incubation hosted START Women in Tech 2020, a digital conference
program called Grab Venture Velocity to accelerate Indonesia’s that aims to push inclusiveness and gender equality and
culinary and logistics SMEs even faster. Recently, they have just accelerate digital adoption in Indonesia. We’re definetly
launched their first ESG report! excited to see more of Tokopedia’s support in the ecosystem,
especially with their recent announcement of GoTo
(Tokopedia’s and GOJEK’s merger).

SHOPEE

The leading e-commerce online shopping platform in

Southeast Asia and Indonesia. Shopee boasts the highest
number of users in 2020 among its Indonesian competitors.
Throughout 2020, Shopee has launched a variety of programs
to support MSMEs through financial relief, educational support
and additional business resources and grew its seller base
tremendously.
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ASSOCIATIONS ASOSIASI FINTECH INDONESIA

(AFTECH)

Associations are crucial platforms to connect a myriad AFTECH has grown from a community of prominent fintech
of stakeholders in the startup ecosystem on a specific companies to an association with 369 registered members
theme. They also play an advocacy role in shaping (as of 2020). Officially appointed as the Association for Digital
the development and structure that advances the Financial Innovation Players by OJK, AFTECH works closely
connectivity of the overall startup ecosystem. with the government to advocate and improve fintech policies.
AFTECH holds periodic discussions through their working
groups and collaborated with AFSI to stage the Indonesia
Fintech Summit and Pekan Fintech Nasional in 2020.

INDONESIAN VENTURE CAPITAL

AND STARTUPS ASSOCIATION
(AMVESINDO)

AMVESINDO is a local setup that connects investors and

companies to encourage collaboration between them
by arranging a number of activities, including gatherings,
networking events, and their flagship program, NEXTICORN.
This year, they are hosting a competition called AMVESINDO
Pitching Days with a focus on local entrepreneurs, specifically
those from outside of Java.
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CONSULTING FIRMS ACCENTURE PALLADIUM

For the past 50 years, Palladium has worked with different

A growing number of consulting firms are investing in Accenture invests in startups solving the world’s complex stakeholders with the goal of achieving positive social impact
impact startups as part of their sustainability efforts. issues through its Accenture Ventures arm, Accenture has also and commercial success. They also have an impact investment
Apart from capital, they bring a unique perspective to released numerous reports on sustainability and investment arm, Palladium Impact Fund. In Indonesia, Palladium has
impact startups with their industry insights and vast landscape in collaboration with other venture capital firms. worked with with Australia’s DFAT and Indonesian’s government
networks. Their reports and publications also provide to implement an AUD 50 million program to improve education
leadership thoughts that would advance the impact methods.
startups ecosystem to bloom and flourish.

BOSTON CONSULTING GROUP (BCG) PRICEWATERHOUSE COOPERS

(PWC)

BCG has previously released reports on impact investing and PWC has been contributing to the social impact ecosystem
Indonesian social entreprise. As part of their CSR Initiative in through different channels, including PwC Social Entrepreneurs
Social Impact, BCG Jakarta has a program called Giving Back Club, a network of 250+ social enterprises in the UK. Recently,
(GB), collaborates with students from Indonesia universities to PwC Indonesia collaborated with East Ventures to launch
provide consulting expertise to social business. PwC NextLevel, a program for startups to meet potential
investors and receive training. Some participating startups are
Ruangguru, Warung Pintar and Komunal.

KEARNEY SYSTEMIQ

Kearney started Social Impact Catalyst fund to provide seed Systemiq is one of the few global management consulting
funding for employee-led initiative that creates positive firms that focuses on sustainability and social impact. They
impact to the world. Recently, Kearney partnered with Alpha parternered with local Indonesian affiliations to reduce ocean
JWC Ventures in studying the digital economy opportunities plastic waste (in STOP program), safeguarding Indonesia’s
in the 2nd and 3rd tier cities in Indonesia. rainforest (in Multistakeholder Foresty Programme/MFP4), and
currently pushing blended finance scheme through its program,
the Blended Finance Taskforce.
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2.
Investing Organisations
These investors aim for both financial returns and impact outcomes. Although not the most active category
of investors in financing the Indonesian SDGs, they have robust access to pipelines. Some also have
deep expertise in certain verticals such as agriculture, education, and healthcare. Aside from serving as
financial lifelines of budding startups, organisations such as investor intermediaries are also stepping up as
conveners to provide platforms for key players to interact. All of these are also accompanied by the onset of
growth in peer-to-peer lending platforms that are serving unbanked communities.
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IMPACT INVESTORS ADB VENTURES RABO FOUNDATION

Shifting capital is the mechanism to transfer power, ADB Ventures Investment Fund raised around $60 million at Rabo Foundation invested in agriculture ranging from coconut,
voice and ownership to historically marginalised the end of 2020. The fund will be used to invest on early-stage cacao, coffee, soybean, dairy, agroforestry products, to
communities. Impact investors are important driving startups in Southeast and South Asia with technology that aquaculture, and seafood by providing working capital loan,
forces behind the creation of a new paradigm where contributes to multiple Sustainable Development Goals (SDG), trade financing for export, and bank guarantee. They have
investment takes into account both impacts and profits. focusing on climate and gender impact. In addition, through collaborated with other impact investors such as C4D Partners,
This balanced approach creates a better opportunity ADB Ventures Lab, corporations, utilities and other large end Impact Investment Exchange (IIX), and Alterfin. Their portfolio
for startups with an impact focus to thrive and shine. users with specific problems are matched with startups with in Indonesia are iGrow, Sinar Agro Solusi, and Aluan. The Rabo
best technological solutions. Foundation has a minimum ticket size of USD 100k that can go
up to USD 1 million.

C4D PARTNERS

Based in the Netherlands, Capital 4 Development Asia Fund

focuses on Indonesia, India and the Philippines. As one of
the most active impact investors, C4D Partners believes that
building inclusive economies can promote better livelihood for
underserved communities and preserve our planet for future
generations. Notable investments: Bali-Seafood (sustainable
fishery), Cassia Co-op (fairer, shorter supply chain for cinnamon
farmers in Indonesia) and Green Enterprise (sustainable
livelihood for farmers in Aceh).
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BANKS BANK RAKYAT INDONESIA DBS

(BRI)

Now more than ever, Banks have become a significant Oldest bank in Indonesia, owned by the government and Established in 2014 with SGD 50 million fund, DBS Foundation
contributor to supporting the entrepreneurship specializes in microfinance. The BRI Ventures invests in aims to advocate social enterprises and nurture them to create
ecosystem, including social enterprise as the financial startups to enhance Indonesia’s economic growth. Some impact. Some key activities are providing financial support to
technology sector is growing to the unbanked market. recent investments are Investree, Tanihub, Modalku, LinkAja, several social entrepreneurship initiatives (e.g., DBS-NUS Social
Banks are now supporting the ecosystem from and Payfazz. Venture Challenge), distributing grants to social enterprises, and
providing capital, participating in impact investment, to publishing a social enterprise handbook.
building training or incubator programs. Find out how
these banks support the ecosystem to grow!

BANK CENTRAL ASIA UOB

(BCA)

The largest Indonesian privately owned bank. In 2017, Central Since 1992, UOB Venture Management has invested more than
Capital Ventura was founded to invest in fintech startups and 250 companies in ASEAN and China, including enterprises that
find synergies with BCA’s ecosystem to offer better products to focuses on social and environmental impact. Some notable
the society. Some examples CCV’s portfolio are Julo, OY! and investments are Gojek and Ruangguru. Last year, UOBVM
GPN. In 2020, CCV invested in Qoala, an insuretech startup raised more than $60 million on the first close of their second
that aims to make insurance a commodity for everyone. In Asian Impact Fund. Aside from UOBVM, UOB shows support to
addition to their venture capital arm, BCA also provides loans SMEs and startups through providing loans.
for commercial business and SMEs and created SYNRGY, a
startup accelerator and a scholarship for digital industry talents.

BANK MANDIRI

One of the largest banks in Indonesia owned by the

government. Mandiri’s corporate investing division, Mandiri
Capital, also invested in social startups such as KoinWorks and
Amartha. In 2020, iSeller and LinkAja are the newest addition
to Mandiri Capital’s portfolio. Together with ABAC, Mandiri is
planning to raise US $25 million for Indonesia Impact Fund to
support SDG through investments in enterprises with social
and environmental impact.
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INVESTOR INTERMEDIARIES ANGIN STARTUP.ID

(ANGEL INVESTMENT
NETWORK INDONESIA)

Investor intermediaries are great platforms to channel ANGIN is the first and largest early-stage investment platform Part of BUBU.com, Startup.id creates an integrated platform
information and investment between investors and and advisory consulting firm providing support for investors for young Indonesians who wanted to start their own venture
startups. They are also important bridges in the and entrepreneurs in Indonesia throughout fundraising journey. with socio-economic impact for Indonesia. Startup.id provides
startup ecosystem to enhance the overall transparency The key services include supporting investment transaction, directory of investors, startups, educational resources, tools
through resource sharing, workshops, consultancy, and opening network, increasing knowledge, and providing and mentoring for its members.
mentoring. consultancy training and workshop.

In 2020, ANGIN has screened 1,500+ enterprises, connect

500+ enterpreneurs and investors, channeled USD 2,5 million
capital invested from ANGIN investors, delivered 18 consulting
projects throughout Indonesia, and engaged with 14+ countries.
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MAINSTREAM INVESTORS IN IMPACT AC VENTURES BRI VENTURES

Here we include investors with clearly defined impact AC Ventures was created from the merger of two venture Bank BRI’s CVC arm has channeled funding to several
mission and measurement, alongside generating a capital firms: Agaeti and Convergence Ventures. The venture outstanding startups such as Modalku, Investree, PayFazz,
financial return. ESG investing has become a crucial capital is led by Pandu Sjahrir, a seasoned Indonesian investor Tanihub, LinkAja, and most recently Andalin. Through the Dana
metric in today’s times when global organisations are and entrepreneur. Under his leadership the firm that has Ventura Sembrani Nusantara, BVI pioneers the local venture
striving to promote a sustainable and ethical work closed several deals in impact companies, including Xurya fund structure licensed by OJK, intending to accelerate the
culture. We are also observing some impact investors (a renewable energy investment platform), Warung Pintar, growth of SMEs and funded Haus! as its debut. In addition, BVI
in the startup context willing to trade off financial return KoinWorks and CoLearn. Some other notable portfolios are has its very own accelerator program called Sembrani-Wira.
for social impact (concessionary) or require a market Antler, the Singapore-based startup generator.
return from their portfolios (non-concessionary). The
pandemic has also had a profound impact on ESG
investing, as there is now a heightened sense of
awareness and urgency to combat climate change and
social inequality. There is definely a large possibility ALPHA JWC CENTRAL CAPITAL ASIA
of seeing some commercially driven investors listed (CCA)
below moving towards a more ESG friendly investment
practice.
Alpha JWC is a leading local Indonesian tech VC with an As the venture arm of BCA, Central Capital Ventura aims
impressive track record in supporting innovative impact to create synergies and innovation in Indonesia’s financial
entrepreneurs (e.g. TaniGroup, Zenius and Funding Societies). services. That is why CCV invests in finance-related startups
If you are wondering, JWC stands for Jefrey, Will, and Chandra, such as P2P platforms (KlikACC and Akseleran), digital wealth
the three seasoned partners behind the fund. Although they management and Robo-advisor provider (Bambu), insurtech
do not have specific impact lens, they are known to invest in (Qoala), and even to GPN (National Payment Gateway).
businesses in the impact sectors such as ed-tech startup
Zenius. They recently launched a report highlighting investment
opportunities in 2nd and 3rd tier cities in Indonesia.
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MAINSTREAM INVESTORS IN IMPACT EAST VENTURES MANDIRI CAPITAL INDONESIA

(MCI)

East Ventures is arguably the biggest impact investor in Bank Mandiri is already recognized for offering a range of
Indonesia. Its portfolio of impact companies is impressive, financial services through its subsidiaries. Mandiri Capital
ranging from ed-tech startups like RuangGuru to Small Medium Indonesia have added reputable startups to its portfolio,
Enterprise (SME) enablers like Wahyoo and Warung Pintar. Its including Gojek, Amartha, KoinWorks, and Mekari. MCI also
team is highly active at events and workshops, supporting runs Digital Business Incubator, to assist entrepreneurs in the
the social enterprise agenda. Along with their company fintech sector. In 2020, MCI partners with APEC Business
portfolio, East Ventures created “Indonesia Pasti Bisa” which Advisory Council (ABAC) Indonesia, the private-sector arm
is a collaborative movement to combat against COVID-19 of the Asia-Pacific Economic Cooperation, in establishing
pandemic in Indonesia. In 2020, they provided thousands of Indonesia Impact Fund (IIF) focusing on MSMEs and startups
PCR testkits and in 2021, they managed to aggregate over USD achieving UN Sustainable Development Goals (UN SDGs).
1 million to provide over 1000 oxygen concentrator to hospitals.

KEJORA CAPITAL MDI VENTURES

Leading Southeast Asian Venture Capitalist that empowers This award-winning venture capital is another corporate venture
technology startups to scale. Kejora Capital has funded arm, initiated by Telkom Indonesia. Operating in Jakarta,
more than 35 startups from seed funding to Series C across Singapore, and Silicon-Valley, MDI is giving its attention to early
Southeast Asia. Some notable investments are Investree, and mid stage companies in Southeast Asia. MDI is actively
SiCepat, Kredivo and Pawoon. In 2020, Kejora Capityal with engaged in building the digital entrepreneurship ecosystem,
SBI Holdings launched its first USD 30 million fund, Orbit with some of its noteworthy investments SiCepat, Kredivo, and
fund, which is for early stage startups in Indonesia with a AloDokter. Recently, MDI collaborates with a financial services-
strong solutions to create impact. They are also active in doing focused Dutch VC, Finch Capital, in launching the new seed
capacity building efforts by participating as judge and mentor fund called Arise Fund aside from their new USD 500 million
for entrepreneurs. fund closed in August 2020.
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MAINSTREAM INVESTORS IN IMPACT SINAR MAS DIGITAL VENTURES

(SMDV)

A corporate venture capital fully-backed by one of the largest

conglomerates in Indonesia, Sinarmas Group. Until the end
of 2020, SMDV has invested in prominent tech companies
such as Modalku, Wahyoo, YummyCorp, and Waste4Change.
SMDV’s portfolio consisting of tech startups is in line with its
goal to create exceptional tech companies that will transform
the landscape in Indonesia.

TEJA VENTURES

Teja Ventures is a women focused venture capital firm that

invests in companies with positive impact on the she economy.
Teja Ventures believe that technology is the key to unlock and
scale potential in verticals such as health, wellness, financial
inclusion and future of retail. Some portfolio companies are
Burgreens, Siklus and Binar Academy.
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FINTECH ALAMI KOINWORKS

One of the most mature startups in Indonesia are In this largest Muslim-majority country, Alami exists as a peer A solution for both MSMEs and individual who needs capital by
financial tech startups. There are no doubt that their to peer platform that carries sharia values. ALAMI aims to bring providing loans. KoinWorks has also branched out and offering
role in shaping the ecosystem to grow is also worth a positive impact at the bottom of the pyramid, with a goal to investment services for cryptocurrency and roboinvesting.
to mention. With a large portion of Indonesians are advance the Islamic financial industry. ALAMI also partners
unbanked, these fintechs are taking up speed and with BukaLapak to provide productive loans to small business
pushing innovations to create access to financial owners in Indonesia.
capital. Here are the list of financial technology
startups that are providing capital for other MSME,
startups and even social enterprises!

AMARTHA TANIHUB (TANIFUND)

Amartha is a pioneer of peer-to-peer (P2P) lending in Indonesia. Tanifund, part of TaniHub, is a P2P funding platform for farmers.
For years, Amartha has specialized in embracing the unbanked Since its foundation, Tanifund has disbursed Rp 221.7 million of
micro-entrepreneurs, mainly women in rural areas. Amartha loans to thousands of projects in Indonesia. Definitely a good
recently obtained a USD 50 million grant from the 2x Challenge, investment potential where you can help farmers while growing
which will be used to empower more women during the your capital at the same time.
economic recovery.

AKSELERAN INVESTREE XENDIT

A fintech company that connects MSMEs with lenders. With A fintech company that brings together lenders and borrowers. Xendit is a fintech company that provides payment solutions
a vision of financial inclusivity for all, Akseleran hopes to help Investree aims to induce growth of Indonesian’s economy by and simplifies the payment process for businesses in
push the development of both MSMEs and lenders. opening up financial inclusion for individuals who have difficulty Indonesia. From participating as speakers and mentors, as
in accessing capital. well as hosting events, the fintech has been very active in
supporting the startup ecosystem to grow. Recently, Xendit
is hosting a matchmaking event between Australia and
Indonesian Startups supported by Australia Global Alumni &
AUSTRADE!
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3.
Service Providers
Service providers play a huge role in attending to the needs of key stakeholders in a startup ecosystem.
This could take the form of giving startups a space to thrive in, organising startup challenges, developing
a hub of Indonesian entrepreneurship, and even augmenting the brand affinity of startups! Certifications
are also exceptionally important in steering social entrepreneurship on the right track towards generating
substantial positive impact.
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MEDIA DAILY SOCIAL TECH IN ASIA

Media platforms are essential avenues for access DailySocial is a media-tech company that focuses on Tech in Asia, a regional media startup has become the go-to
to insider information and ecosystem development. information, opinion and discovery. Started as a tech blog in platform for the latest information on tech startups and
These media and blog publications that help shape 2008, Daily Social’s vision is to provide technology news and investors. While Tech in Asia does not cover news specifically
the dialogue and discourse that the ecosystem information to people from all age groups. In 2021, DailySocial on social entrepreneurship, some of their news coverage is
regularly employs. Most of these publications have is launching their Angel Investment Platform with the mission to still related to the subject. TIA also hosts yearly conferences
both a website and a newsletter that provide timely democratise tech investment and push inclusion from both the that connects tech entrepreneurs around the world, definitely
developments. entrepreneurs and investors. an event to not miss if you are in the tech space.

DEALSTREETASIA

Singapore-headquartered financial news and intelligence

platform, which provides investors with insightful reports. Their
area of expertise includes private equity and venture capital
deals, mergers and acquisitions, startups, and IPOs across the
ASEAN region. In addition to going over the news, they present
Asia PE-VC Summit, an annual conference for the private equity
and venture capital industry.

KR ASIA

KrASIA is a tech media platform that covers news from the tech
and startup ecosystems in China, Southeast Asia and India.
They have covered news in some area of expertise such as
fintech, deep tech, e-commerce and venture capitals.
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CERTIFICATIONS AND MEASUREMENT B CORP CERTIFICATE

Certifications and measurements help to guide B Corporations provides certfication for companies that upheld
purpose-driven entrepreneurs along their journey high standards of social and environmental performance,
in generating substantial social impact as well as public transparency and legal accountability. Although
restoring the planet. B Corp Certification isn’t a perfect fit for every organisation.
Nonprofits, large multinationals, governmental organisations
and companies of all sectors and sizes can join the B Economy
by using B Lab’s impact management and stakeholder
governance tools.

SUSTAINALAYTICS

When talking about impact investing in social enterprise, impact

measurment becomes important metrics to take into account.
Sustainalytics, a Morningstar Company, provides high-quality,
analytical environmental, social and governance (ESG) research,
ratings and data to institutional investors. In Indonesia, the firm
has worked together with the Indonesian Stock Exchange (IDX).
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LEGAL SERVICES FIRMS ALI BUDIARDJO, NUGROHO,

REKSODIPUTRO (ABNR)

Here, we are highlighting law firms in Indonesia that are ABNR is one of Indonesia’s prominenent lawfirms. Their area
known to support the entrepreneurship and investment of expertise in banking and finance includes project finance as
industry in Indonesia. Their support includes providing well as syndicated loans, secured financing, structured finance.
legal services to known entrepreneurs and venture Their clients includes notable venture capitals in Indonesia
capitals as well as commitng to support funding for such as East Ventures, Alpha JWC Investment, Captii Ventures
Indonesian legal startups. Without their support, surely and Bank Mandiri.
the entrepreneurship industry would not have grown to
what it has become now.

ASSEGAF HAMZAH & PARTNERS

Assegaf Hamzah and Partners Lawfirm is one of Indonesia’s

leading lawfirms. They are known for their extensive works on
supporting Indonesia’s entrepenerusship ecosystem. In 2019,
AHP also participated in the pre series A funding of Justika.com,
the pioneer of legal services marketplace startup in Indonesia.

GUIDO HIDAYANTO &

PARTNERS (GHP)

GHP is a full-service law firm in Indonesia, providing the most
personalised and precise approach to helping our clients
navigate business and legal challenges. They have been be
recognised as a Top 30 Largest Law Firms for Corporate
Practices by Hukumonline.com. Aside from being one of the
Deputy of Presidential Staff their founding partner, Bintang
Hidayanto, is also spearheading thought leadership in tech
startup business landscape in Indonesia.
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4.
Government Bodies and other
Not-for-Profit Organisations
It is worth mentioning the significance of a top-down focus on innovation within the Indonesian startup
ecosystem. President Jokowi, after having won his second term in May 2019, is putting forth the 14th
economic policy package to foster 1000 startups by 2020 with a valuation of $10 billion – this is meant to
accelerate the e-commerce industry in the country. The Jokowi administration has also issued orders to
the relevant ministries to support startups and provide grants to incubators. It is just as important not to
neglect the roles of development institutions and foreign governments who are pivotal in backing social
entrepeneurship via diplomatic routes.
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THE INDONESIAN GOVERNMENT BURSA EFEK INDONESIA MINISTRY OF EDUCATION,

(BEI) CULTURE, RESEARCH AND TECHNOLOGY
(KEMENDIKBUD-RISTEK)
The Indonesian government is actively supporting
entrepreneurship with great programs and grant One of the largest stock exchanges in Asia. In early 2017, IDX Ministry of Education, Culture, Research and Technology
fundings. launched an incubation program, IDX Incubator, to boost the demonstrates a strong commitment to supporting technology,
number of tech-based startups listed on the Indonesia Stock innovation, and youth entrepreneurship partnering with the local
Exchange. IDX Incubator will guide the startup founders in universities across the archipelago. Aiming to enhance human
taking their companies to go public with tailor-made training resources competence when it comes to the development
and comprehensive mentoring. IDX plays and important role of the digital ecosystem, introduced the Kedaireka (Kampus
in supporting startups to go public. Indonesia’s home grown Merdeka) platform at the end of 2020. Kedaireka’s mission is to
unicorn, Bukalapak, will be the biggest initial public offering get universities and key players from industries together. Here,
(IPO) in IDX’s history with the support of Pandu Sjahrir, IDX’s inventors from universities have the chance to channel their
board member and also investor. brilliant ideas, collaborate with investors, corporates, and obtain
funding support from the government.

JAKARTA SMART CITY MINISTRY OF INDUSTRY

(JSC) (KEMENPERIN)

JSC was formed as the government’s plan to adopt smart city While the Ministry does not specifically target social
concept for Jakarta. JSC collaborates with eight notable digital entrepreneurship, Kemenperin is actively involved in supporting
startups: Bukalapak, Tokopedia, Shopee, Gojek, Grab, Nodeflux, Indonesian tech entrepreneurs and SMEs with one of it’s
Botika, and DuitHape. Moreover, JSC hosted Future City - The annual leading programs, Startup4industry. They invite
Virtual Smart City Hackathon will pick nine more startups that young innovators to apply with a chance to win prize and be
will help solve challenges in the capital city. Don’t miss out on connected with investors and partners. Startup4industry is also
its virtual visit and town hall meeting! collaborating with ANGIN, UKMIndonesia, and other ecosystem
players to amplify their support to the entrepreneurs.

MINISTRY OF COMMUNICATION
AND INFORMATION TECHNOLOGY
(KOMINFO)

Following the initiation of Gerakan Nasional 1000 Startup

Digital and NEXTICORN (Next Indonesian Unicorn), the Ministry
of ICT is support for the startup ecosystem continues with
Startup Studio Indonesia. During the intensive programs, CEOs
from notable Indonesian startups serve as coaches, allowing
early-stage startups to scale up. The participants will surely
get valuable experience from the Founder’s camp and 1-on-1
coaching sessions in each batch.
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FOREIGN GOVERNMENT AND ASIAN DEVELOPMENT BANK BRITISH CHAMBER OF

DEVELOPMENT INSTITUTIONS COMMERCE IN INDONESIA

These are the most active country governments Asian Development Bank aims to promote economic and British Chambers of Commerce’s involvement comes mostly
in supporting social entrepreneurship and impact social development in Asia through providing loans, technical from its BritCham Human & Capital Education Center and
investment in Indonesia as a core piece of their assistance, grants and equity investments. Up to last year, BritCham Business Center. Claimed as the most active foreign
diplomatic and bilateral efforts. ADB has invested $39.18 billion for 959 projects in Indonesia. Chamber in Indonesia, BritCham helds multiple events with
ADB recently initiated ADB Ventures as their investment arm, topics ranging from women empowerment, entrepreneurship,
supporting Asian early stage startups in cleantech, agritech, young professionals, and sustainability throughout the year.
fintech, and healthtech, with positive climate and gender
equality impact.

BRITISH COUNCIL DEPARTMENT OF FOREIGN

AFFAIRS AND TRADE (DFAT)
AUSTRALIA

Mostly through the British Council (BC), the UK has been DFAT Australia, is widely known for supporting gender lens
actively contributing to Indonesia’s social entrepreneurship investing, social entrepreneurship and impact investment.
sector through various channels. In the past, BC has Through DFAT, Australia has several programs such as
released research studies and supported capacity building Investing in Women and Frontier Incubators that pushes
and policy dialogues. The latest program, DICE, is currently forward the gender empowerment and impact investing
running to develop creative and social enterprises in the UK agenda. Australia has also supported several other impact
and five emerging economies, including Indonesia. Social investing firms mentioned in this list (e.g. Patamar, IIX, SIAP,
Innovation Accelerator Program (SIAP) is also supported Instellar, Beacon Fund, Biduk Indonesia and Frontiers Lab
by BC and they have played a signififcant role in the social Asia, a program dedicated to support scaling of Angel
enterprise ecosystem. investing in SEA)

EMBASSY OF THE KINGDOM

OF THE NETHERLANDS IN INDONESIA

The Dutch has been actively contributing to Indonesia’s social

and economic sector through providing aid in several industries
such as agriculture, water and maritime, education, climate
and law. They previously launched NL Ecopark for better waste
management and improving Indonesia’s poultry industry
through FoodTechIndonesia initiative.
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FOREIGN GOVERNMENT AND GIZ UNITED STATES AGENCY FOR

DEVELOPMENT INSTITUTIONS INTERNATIONAL DEVELOPMENT
(USAID)

German development agency provides services in international The world’s first international development agency supported
development cooperation. GIZ Indonesia helps Indonesia – by the government of the United States of America.
Germany Collaboration in Clean, Affordable, and Secure Energy Indonesia has been receiving help from USAID since 1950 in
for Southeast Asia (CASE) Program. In Indonesia, the CASE various forms such as tackling food shortages, assisting in
programme is implemented through GIZ Indonesia, together infrastructure development and natural disaster relief. In 2020,
with the Institute of Essential Service Reform (IESR), and USAID has committed $2.3million for Indonesia to help fight
supported by the international consortium partners. COVID-19 pandemic. In 2021, the agency have two programs
which are Clean Air Catalyst program and USAID SEA Program.
These programs aims to facilitate innovation and solutions to
fight air pollution and conserve marine fisheries, respectively.

INTERNATIONAL FINANCE UNITED STATES EMBASSY

CORPORATION (IFC) AND CONSULATES IN INDONESIA

IFC, a member of World Bank group, is the largest global Through USAID, the US embassy contributes to Indonesia’s
development institution focusing exclusively in private sector social and environmental welfare by holding events and
of developing countries. In the past, IFC has invested in Hana projects such as ICSF (Indonesia Civil Society Forum) and SEA
Bank to open financial access to MSMEs. In Indonesia, IFC (Sustainable Ecosystem Advanced). In the past, USAID together
has invested around $200 million in Bank OCBC NISP’s with Microsoft Indonesia hosted a startup competition called
sustainable bond program to launch the first-ever gender iMulai and awarded cash prize for winning businesses. Also,
bond in Indonesia in 2020. The gender bond is supported by through @america, USAID routinely holds events related to
the Women Entrepreneurs Finance Initiative (We-Fi) program, entrepreneurship and women empowerment.
a partnership housed at the World Bank Group that aims to
unlock financing for WSMEs in developing countries, aligned
with with the government of Indonesia’s goal to reduce
Indonesia’s gender gap.
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NON-GOVERNMENTAL ORGANISATIONS KEHATI FOUNDATION TANOTO FOUNDATION

These organisations have impact written in their KEHATI was formed when the United States, Japan, and Tanoto Foundation is an independent family philanthropy
DNA. Quite a number of SAOs, events, programs, and Indonesia decided to sustain Indonesia’s biodiversity organisation founded by Indonesian entrepreneur Sukanto
even startups may receive aid from development conservation programs together. Since then, KEHATI has Tanoto and his wife, Tinah Bingei Tanoto. The foundation is
organisations. Much of the necessary funds needed for promoted impact investing in Indonesia through mutual known for providing scholarships (TELADAN), for Indonesian
earlier-stage startups or SME-level entrepreneurs are funds, ETFs, and the SRI KEHATI Index, which integrates ESG university students, as well as capacity building programs for
likely being funded in some part by these organisations. factors into its investment process. To honor individuals or aspiring student entrepreneurs. One of the programs is business
organisations that contribute to biodiversity, KEHATI partnered plan workshops and competition, intended for their scholarship
with ANGIN to present the KEHATI Award 2020. recipients and other university students. In 2021, this program will
be supported by ANGIN and known as Tanoto Future Leaders
Business Acumen Program. Aside from this, the board of
MERCY CORPS Trustees and the Family of Tanoto is also an impact investor.

Mercy Corps Indonesia is part of the international NGO Mercy UNDP
Corps with an extensive experienced venture fund to provide
early-stage capital for social entrepreneurs in over 40 countries.
Mercy Corps Indonesia developed MicroMentor, a free online The UNDP is among the most innovative intergovernmental
mentoring platform for businesses and is now available in organisations in the country. UNDP has been engaged with
Indonesia to empower local SMEs. As a continuation for various stakeholders to develop social entrepreneurship
MicroMentor, Mercy Corps recently offered an assistance in Indonesia, e.g. initiated Innovative Financing Lab as a
program called SIGAM UMKM for 10,000 mentors in Indonesia. collaborative space to help align investments with SDGs. UNDP
Accelerator Labs for Indonesia was just launched in March
2021 to create solutions for complex problems such as urban
FORD FOUNDATION OXFAM issues in disaster-affected communities.

This US-based foundation, one of the largest philanthropies in OXFAM has led a good effort on the development of youth and UN WOMEN
history, has been in Indonesia for more than six decades. It has women entrepreneurs. In 2019, ANGIN joined Oxfam’s 10-year
been conducting various programs in community development, project (I-WIL) and supported a weaving group in Lombok in
women empowerment, agriculture. Recently, Ford Foundation improving their business acumen. Apart from that, Oxfam has A United Nation agency devoted to closing the gender gap
Indonesia is working with various stakeholders to support the other initiatives, such as capacitating local communities to and empowering women in the world. To commemorate
impact investment ecosystem development in Indonesia. reduce poverty. This year Oxfam Indonesia, through the program International Women’s Day, a UN Women program,
of Empower Youth for Work, is accelerating its progress on WeEmpowerAsia hosted a virtual Ring the Bell for Gender
income generating within the rural areas. In this period, EYW Equality event with Indonesia Stock Exchange. UN Women
in Indonesia will work to increase the SMEs competitiveness also joins forces with the Indonesian government to provide
through training in regards to grant disbursement via suggestions for the Medium Term Development Plan 2020-
collaboration with ANGIN. 2024 on the gender equality issue.
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THINK TANK AND NETWORKS AVPN SECONDMUSE

(ASIAN VENTURE
PHILANTHROPY NETWORK)

Shaping the way we conceptualize social impact and The Singapore-based leading network of social funder SecondMuse is an impact and innovation company that
analyzing current trends are our friends’ expertise communities (e.g., impact investors, foundations, angel focuses on building economies across the globe. From running
at think-tanks and research organisations. Simply networks, corporates) with more than 600 members globally. accelerator and incubator, competition tackling specific
reading their reports can help provide insights into the In 2020, AVPN and SEED co-hosted their Practitioner Labs impact themes. In 2018, they set up an office in Surabaya and
ecosystem. Chatting with them may be some of the Climate Finance cycle in Indonesia to exhibit climate finance working closely with local entities and entrepreneurs tackling
most interesting conversations you’ll have in Indonesia! solutions from solution developers such as UNDP and ocean plastic. In Indonesia, under the Incubation Network
Waste4Change. No doubt they are one of the most notable with The Circulate Initiative (TCI) they supported Ocean Plastic
network organisations in the industry. AVPN has a presence Prevention Accelerator (OPPA) in launching Informal Plastic
in Indonesia that is based in Jakarta. Despite the limitations Collection Innovation Challenge.
of Covid-19, AVPN regularly runs monthly events for their
members to connect while also nurturing 40 talents in Impact
Investing Fellowship. Say hi to Dini and Vania to know more
about them!

ASPEN NETWORK OF DEVELOPMENT GIIN TRANSFORMATIONAL BUSINESS

ENTREPRENEURS (ANDE) (GLOBAL IMPACT NETWORK ASIA (TBN ASIA)
INVESTMENT NETWORK)

Based in the US, ANDE is another global network of organisations Global Impact Investment Network has made available valuable A not-for-profit organisation based in Singapore with a clear
that promote impact investment and social entrepreneurship in resources around impact investing, including training programs, vision: fighting poverty in Southeast Asia through enterprise.
emerging markets. It led several events and roundtable in Jakarta industry research and market data, connecting investors To achieve it, TBN Asia has several programs that facilitate
this past year. Concerning the gender equality issues in terms and firms, and tools and resources for impact measurement. social enterprises such as conferences, webinars, impact
of funding, ANDE teams up with USAID and Visa Foundation Recently, they have been more active to contribute to the growth cafes, and training hubs (SETH). Its flagship conference,
in the Advancing Women’s Empowerment Fund initiative. The of the impact space in Indonesia and released a report about TBN Asia Conference, is held annually to emphasize social
organisation is also active in producing publications and report Indonesia’s impact investing landscape in 2018. In addition, GIIN entrepreneurship and impact investing. In case you missed
working together with the stakeholders in enriching the ecosystem also created IRIS metrics which are used to measure social, the 2020 Virtual Conference, you can still watch it on their
knowledge, including knowledge on impact investing. Check out environmental and financial performance of an investment. Youtube channel.
their website to see more publications!
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5.
Private Corporations
Private corporations are important drivers for the impact startup ecosystem and are often the first user
under their sustainability initiatives and corporate social responsibility (CSR) efforts. Partnership and
collaboration opportunties offer great mentoring and user feedback to entrepreneurs to finetune their
product to grow and scale. From time to time, these private corporations also bolster the growth of the
Indonesian startup ecosystem by pioneering their own startup challenges, accelerators, and capacity-
building programmes.
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LARGE INDONESIAN CORPORATIONS ASTRA INTERNATIONAL SALIM GROUP (INDOFOOD)

Astra is among the corporate groups behind Skystar

Being in a position of huge influence in the economy, Capital and has been more active in supporting SMEs and The father-son duo, Anthony and Axton Salim, have been
large Indonesian corporations have certainly used entrepreneurship throughout the years. It offers strategic supporting startups since forming the Innovation Factory.
this influence well to develop the startup ecosystem funding and empowers startups through the Astra Startup Innovation Factory partners with NUS Singapore to manage
by coming up with accelerators, incubators, startup Challenge (supported by the Ministry of Cooperatives and Block71 (an ecosystem builder and co-working space in Jakarta,
challenges, trainings, and innovation centres. SMEs), where finalists will have the opportunity to be directly Yogyakarta, and Bandung), established SKALA (an accelerator
coached by Astra Ventura. Astra Startup Community keeps program), and launched Accelerice (food startup accelerator
their alumni active in promoting inclusivity, for example and knowledge hub).
organizing Lomba Ide Bisnis Disabilitas 2021.

HM SAMPOERNA TELKOM INDONESIA

One of Indonesia’s largest tobacco companies in Indonesia that Through its VC arm (MDI Ventures) or startup incubator &
plays an important role in developing 46,000 SMEs through accelerator (Indigo Creative Nation), Telkom has allocated
Sampoerna Entrepreneurship Training Center. Despite the social efforts in supporting from early stage to later stage startups.
restrictions, Sampoerna managed to hold training, webinars, and Indigo and MDI ventures are supporting early stage startups
competitions as part of the #SampoernauntukUMKM festival. while Telkommetra and Telkom Indonesia provides support to
Not to mention that Michael Sampoerna, the Sampoerna family’s later stage startups with venture rounds, strategic alliances and
youngest son, added some startups (such as Fairbanc and merger and acquisition. It is encouraging to see the state-owned
BukuWarung) to his portfolio. organisation to be involved the startup ecosystem support as
well as supporting entrepreneurs in social innovation.

MNC GROUP TELKOMSEL

MNC Group has been actively expanding its portfolios to With more than 170 million customers, Telkomsel is currently the
include investments in startups with various growth stages, largest cellular operator in Indonesia. The state-owned company
namely KerjaDulu, RedDoorz, and Anterin. Also, the group has is also a strong supporter of the startups ecosystem. With their
its own fashion e-commerce (The F Thing) and fintech (SPIN), corporate accelerator arm, Tinc and their early stage investment
managed by Hary Tanoesoedibjo’s daughters. Last year, MNC arm, Telkomsel Mitra Inovasi (TMI), their role in equipping
invited innovators and startups from all over Indonesia to Indonesia’s up and coming entrepreneurs does not go unnoticed.
participate in the MNC Hackathon Funcode and pour out bright Since 2019, TMI have invested about USD 40 million in Indonesian
ideas related to digital media and financial technology. startups including Kredivo, Qlue, Halodoc and Tanihub.
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MULTINATIONAL CORPORATIONS DANONE PROCTER & GAMBLE (P&G)

As a global company, Danone has several initiatives born from American multinational consumer goods company who has
Shedding light on Multinational Corporations’s their core business. One of them is Danone Communities won several awards due to its extraordinary corporate social
role in supporting entrepreneurs. Here are the list who under the Water Access Acceleration Fund (WAAF) have responsibility. Some notable initiatives are Children’s Safe
of corporations we identify that has programs that previously collaborated with ANGIN in searching, screening, Drinking Water, WEConnect International (connecting women
supports entrepreneurship ecosystem and even social and eventually investing in startups and MSMEs to advance entrepreneurs around the world), 100% recyclable packaging
enterprise! clean water access in Indonesia. and 100% renewable energy source among others. The
company also supported women entrepreneur by conducting
a capacity building program called ANJANI (Prgram Gerakan
Maju Wanita Indonesia)

JOHNSONS & JOHNSONS UNILEVER

To show its interest in healthcare innovation, Johnson Unilever takes a specific approach by assigning valuable
& Johnson built its very own venture arm (JJDC, Inc.) goals for each of its brands, such as supporting
and Johnson & Johnson Impact Ventures with a globally entrepreneurs with “Seru” and “Sunlight”. The latest launch
diversified portfolio, including DANAdidik that represents of the #UnileverUntukIndonesia campaign, which gives
Indonesia. Partnering with instellar, J&J launched the SEHAT digital access to 147,000 shops and stalls, demonstrates the
impact accelerator in Indonesia. company’s dedication to the development of SMEs. Unilever
has a corporate innovation arm, Unilever Foundry, that
identifies and works with innovative startups on partnership
NESTLÉ opportunities to address business challenges and grow
impact. Their program spans from capacity building efforts,
joint ventures, startups investment, and product development
Nestlé continues to enable the SMEs ecosystem through collaboration with startups.
partnerships with local dairy and coffee farmers. In 2021,
Nestlé has formed a new partnership in Indonesia with Plug
and Play, a global innovation platform headquartered in Silicon
Valley in a bid to drive its innovation efforts across Southeast
Asia. Through this partnership, Nestlé will be able to leverage
Plug and Play’s innovation expertise and ecosystem of
startups, corporations and investors, enabling the company
to accelerate its innovation capabilities for future food
technologies and solutions.
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Honorable Mentions
Apart from the aforementioned organisations, we are also hoping to highlight
some players who are also paving the way for impact technology development.
Although some the organisations may have not been active or even some of
them are just starting their journey in Indonesia, we are definitely excited to see
more of their ventures activities in the forthcoming future.
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STARTUP ACCELERATORS AND INCUBATORS AWARDS AND COMPETITIONS ASSOCIATIONS

NextDevHub Asia Social Innovation Award (ASIA) Indonesian E-commerce Association (idEa)
An early stage digital startup search and development ASIA is a flagship social startup competition aims to promote Initiated by 9 Indonesian e-commerce enterprises, idEa acts
platform in Indonesia that is oriented towards social impact. social entrepreneurship and business 2.0 concepts in Asia- as a bridge for stakeholders in the e-commerce industry,
The NextDev is the CSR program of Indonesia’s state owned Pacific regions. Launched by Social Ventures Hong Kong such as online marketplaces, retailers, travel agents, payment
telco company, Telkomsel. Their program includes startups (SVhk), they provide a platform for idea-stage entrepreneurs gateways, etc.
competition, incubation and the known NextDev Summit! Their to kick start projects through cross-country networking and
program is Telkomsel’s contribution and social responsibility expertise exchanges.
to the development of the digital ecosystem in the country by
stimulating the use of technology to create a positive social Impact Investment Summit Asia Pacific CONSULTING FIRMS
impact by young Indonesians. This forum has introduced an annual summit to connect,
catalyze, and accelerate the Asia Pacific impact investment Delloite
community. Their incoming 2022 summit in Australia will Deloitte provides support to accelerators and incubator
partner with Australia’s DFAT, Inspire Impact, Investing in in developing reports on the ecosystem and module
COWORKING SPACE Women, Bank Australia, Pangolin Associate, and some impact developments tackling impact measurements in social
investment network and ventures. enterprise and impact investing industry. On 2021, Deloitte
Kolega and Techstars also collaborated to catalyze the innovation
Located in strategic areas across Jakarta, Bandung, and ecosystem by connecting startups from Techstars’ portfolio to
Bali, Kolega is a coworking space and community where opportunities at Deloitte’s clients and businesses.
entrepreneurs, freelancers, startups, SME’s and established ESTABLISHED TECHNOLOGY COMPANIES
company share a workspace and benefits from networking
with each other. In 2019, they opened a Digital dan Startup AWS (Amazon Web Services) McKinsey
Hub in Tokopedia Tower, Jakarta. AWS is the world’s most comprehensive and broadly adopted McKinsey has its non-profit arm, McKinsey.org, aims to create
cloud platform, offering over 200 fully featured services lasting and substantial impact to complex social challenges,
Satu Tampa from data centers globally. It powers millions of businesses including in Indonesia. They recently focuses in solving
They are the startup ecosystem builder and impact including the fastest-growing startups, where they are using recycling plastic and organic waste with pilot initiatives in Bali
community hub in Manado, Eastern Indonesia. They have a AWS to lower costs, become more agile, and innovate faster. and Buenos Aries. Fuel, a McKinsey company, was launched
strong vision to create a harmonious ecosystem in an area, In Indonesia, AWS works closely with ANGIN to provide in 2014 to help startups and investors accelerate growth with
with the mission of connecting parties such as startups support to its entrepreneurs. Reach out to Angin/Impact to data-driven consulting, capability building, and market-leading
and entrepreneurs who play a role in regional development, see how AWS can help. benchmarking tool SaaSRadar.
and presenting programs specifically designed to achieve
common goals. Microsoft
Microsoft has been supporting startups around the globe. In
2020, they hosted the inaugural Emerge X Regional Pitching
Competition in Asia Pacific. Four startups from Southeast Asia
are winners while seven Indonesian startups were selected to
join the Year-Long Microsoft Emerge X program as part of its
100 Unicorns initiative.
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IMPACT INVESTORS Patamar Capital Prasetia Dwidharma

Patamar Capital is an early-stage venture capital firm that Established by Family Office, Prasetia Dwidharma has
Gayo Capital invests in companies that serves the mass market in South invested in technology companies since 2016. Focusing on
Gayo Capital is the green initiative of one of Indonesia’s early and Southeast Asia. Patamar Capital is one of the first active early-stage B2B Startups such as delman.io, Cakap, Qlue,
venture capitals, ideosource. Structured as an investment impact investors in Indonesia. Some Indonesian companies and Xurya in their portfolio, Prasetia has backed more than
holding company, they are looking to invest in startups that they invest in are Dana Cita (fintech), Sayurbox (FMCG) 100 scalable and fast-growing Startups in various industries
supports the United Nation Sustainable Development Goals. and MAPAN (Fintech). Their team is also behind the new across SEA (predominantly in Indonesia) & the United States
Some examples of Gayo Capital’s portfolio companies are fund Beacon Fund, focusing on providing capital to women via regular invitations from Y Combinator.
DAUR (waste management) and WLabku (recycling sugarcane entrepreneurs who do not fit the traditional VC funding
waste into animal feed). requirement. Skystar Capital
Skystar is an early-stage VC firm backed by leading corporate
KOMIDA Small Enterprise Assistance Funds groups with access to a wide array of industries and offers
Pioneering global impact investment group with a mission Small Enterprise Assistance Funds (SEAF) aims to provide strategic consultation funding and corporate partnerships to
to create a billion sustainable livelihood by 2030. One sponsorship and investment funds for SMEs in underserved the selected startups. Skystar invested in a number of impact
notable enterprise is KOMIDA whose goal is to build resilient emerging markets including Indonesia that may not have driven companies such as Kudo or Hijup (an islamic clothing
livelihoods and strengthen climate adaption for underserved access to traditional capital. SEAF also creates a Gender marketplace). In total, it has around 20+ portfolio companies
women by providing financial and non-financial support in the Equality Scorecard as an assessment tool for women’s operating in both Indonesia and around Southeast Asia such
form of loans, savings, training, etc. economic empowerment and gender equality for potential as Hijup, Ekrut, Hacktiv8 and Talenta.
investment opportunities and its portfolio companies.
Leap 201 UMG Idea Lab
Leap 201, a Singaporean venture philanthropy organisation, UMG Idea Lab is venture capital that aims to create an
aims to alleviate poverty in Southeast Asia through strategic MAINSTREAM INVESTORS IN IMPACT integrated startup ecosystem by interconnecting startups
investments to social enterprises. LEAP201 invests in enterprises under their portfolio. Recently they have been actively
that can demonstrate at least 3 years of success, with sector GDP Venture investing in deep tech companies such as FROGS (drone
focuses in agriculture value chains, financial inclusion, and GDP Venture is a venture builder that aims to grow Indonesia’s company).
energy and water. They typically support enterprises through economy focusing on digital communities as well as media,
debt loans with a ticket size of USD250k-500k with ‘below commerce and solution companies. Currently, GDP Venture Telkomsel Mitra Inovasi (TMI)
market’ interest rates. For all investments, LEAP201 looks for high are focusing on supporting their startups portfolio. Telkomsel Mita Inovasi, or TMI for short, is Telkomsel’s 100
social impact and moderate financial return. percent-owned venture arm. Along with two other digital
Investible innovations from Telkomsel, the NextDev and Telkomsel
Lonsdale Social Innovation Capital As Australia’s leading seed investment group, Investible Corporate Accelerator (TINC), it hopes to reinforce the digital
They are the social enterprise investment arm of Lonsdale fuses instinct with insight to back the world’s next generation ecosystem in Indonesia. During 2020, TMI injected funds into
Capital, the family office of Jason Choo and his four children of game-changers. With offices in Australia and Singapore, two startups, Roambee (IoT data company from Silicon-Valley)
based in Singapore. They fund social enterprises to bring its mission is to elevate seed investment. They are about and PrivyID (Indonesia’s digital signature and digital identity
them to the next level, scale, and grow into new markets. They to launch their second fund focusing on climate lens and provider).
seek out businesses and social enterprises that can empower Greenhouse, which is a platform for climate-focused
people living below the poverty line, providing them with companies to grow with the support of capital, talent,
mentoring, administrative, and technical support. Their current programs and events.
portfolio in Indonesia are FamilySpotlight and VIS.
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MEDIA LEGAL SERVICES

e27 Withersworld Ministry of Finance (Kemenkeu)

Similar to Tech in Asia, it is one of Asia’s largest tech media Withers is the largest law firm in the world dedicated to the Indonesia is the first Asian country to issue sovereign
platforms with a community database of over 110,000 players needs of successful people, their families, their businesses green bonds and issued the world’s first retail green Sukuk
in startup ecosystem across APAC. A decent amount of E27’s and their philanthropic work. One of their Partner, Joel Shen (Islamic bonds). The government has issued sovereign green
coverage is on social entrepreneurship and tech startups. is an experience lawyer in Indonesia for Corporate M&A. He Sukuk every year since 2018 as part of the commitment to
Annually E27 held their flagship conference and trademark is also a notable practitioner for Fintech with expertise in the combating climate change. The green bond proceeds will be
early-stage startup programme, Echelon Asia Summit technology, digital, media, marketing & communications, food used to support renewable energy, green tourism, and waste
and TOP100 APAC, engaging the APAC market by taking & beverage and consumer sectors. Aside from being Vickers management. Besides, they are reinforcing the blended
Roadshow to up to 23 cities. Venture Partners principal, Shen is also a mentor in Endeavor finance scheme through the SDG Indonesia One platform.
Indonesia.
IDN Media Ministry of Cooperatives and SMEs (KemenkopUKM)
IDN Media quickly became Millennials’ and Generation Z’s The Ministry of Cooperatives and SMEs is in charge of
leading media-tech and content platform company through coordinating and formulating policies to increase productivity,
its strategic and curated content with over 70 million Monthly THE INDONESIAN GOVERNMENT competitiveness, and independence of cooperatives SMEs
Active Users. IDN Media currently operates 4 digital media: and active business community in Indonesia. Last year, the
IDN Times, Popbela.com, Popmama.com, and Yummy; a Indonesian Investment Coordinating Board (BKPM) Ministry focused on making cooperatives and SMEs go digital
creative digital agency: IDN Creative; an event agency: IDN BKPM or Indonesian Investment Coordinating Board is a with Pahlawan Digital UMKM 2020 and IDXCOOP portal. They
Event; and a creator marketing agency: IDN Creator Network. Government Agency, which in charge of implementing policy have partnered with various entities, including ANGIN, to
and service coordination in investment in accordance with provide training in business acumen and access to funding.
Impact Alpha the provisions of the regulations. As the primary interface
Impact Alpha is a global media platform covering the journey between business and government, BKPM is mandated Ministry of Tourism and Creative Economy
of impact investment and sustainable finance. Impact Alpha to boost domestic and foreign direct investment through (Kemenparekraf)
is a go-to platform to identify social enterprises and capital creating a conducive investment climate. They are in charge Previously known as BEKRAF, this agency facilitates
providers operating in Indonesia. They are a subscription- of attracting domestic and international investment to support entrepreneurs in various means, from capacity building,
based, multi-channel digital media platform that is redefining businesses, as well as startups and SMEs in Indonesia. access to networks, patent facilitation to grant disbursement.
business journalism around social and environmental BEKRAF has been running a program called BEKUP since
value. Their audience sectors span from impact investing, Ministry of National Development (Bappenas) 2016, which guided social entrepreneurs like Farming ID
sustainable finance, to ESG and entrepreneurship. The Ministry has been very active in promoting impact and Bung Sam. After merging with the Ministry of Tourism
investment and social entrepreneurship in Indonesia. Behind and renaming themselves as Baparekraf. The Ministry of
a lot of roundtable, events, and initiatives, the Bappenas Tourism and Creative Economy is supporting startups through
team has been very strategic to move the agenda ahead. their program called BEKUP (BAPAREKRAF FOR STARTUP)
As the coordinator of the implementation of SDGs in focusing on conducting capacity building efforts.
Indonesia, Bappenas is constantly making concerted efforts
by establishing SDG Financing Hub and SDG Academy
Indonesia (in partnership with the Tanoto Foundation and
UNDP).
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Otoritas Jasa Keuangan (OJK) NON-GOVERNMENTAL ORGANISATIONS LARGE INDONESIAN CORPORATIONS

The main function of OJK is to promote and organize a system
of regulations and supervisions that is integrated into the Bill and Melinda Gates Foundation MRT Jakarta
overall activities in the financial services sector. OJK performs Bill and Melinda Gates’ charitable work in Indonesia is This government-owned enterprise formed to operate
its regulatory and supervisory duties over financial services evidenced by promoting the government’s financial inclusion Jakarta’s mass rapid transit system. Not only a public
activities in banking, capital markets, and non-bank financial initiatives and injecting funds into the online healthcare transportation company, they are also collaborating with
industries sectors. Indonesia’s regulatory body for financial startup, HaloDoc. startups and venture capital firms via their 6-month
institutions that is actively supporting innovation around acceleration program, MRTJ Accel. Nine startups were
fintech and startups with one of its programs, Regulatory The Cherie Blair Foundation chosen in the first batch. The program welcome startups with
Sandbox. Cherie Blair Foundation is a global foundation that has end goal of commercializing innovative products, services, or
been assisting women entrepreneurs in Indonesia along solutions, to help build up the digital economy ecosystem in
with its Road to Growth program and a mobile learning app, Indonesia, particularly for MRT Jakarta.
HerVenture where ANGIN has also supported the market
FOREIGN GOVERNMENT, DEVELOPMENT research upon the implementation
INSTITUTIONS AND FOUNDATIONS

Korea Trade-Investment Promotion Agency (KOTRA) .

South Korea’s national trade and investment promotion THINK TANK AND NETWORKS MULTINATIONAL CORPORATIONS
agency has been involved in Indonesia. KOTRA facilitates
Korea’s rapid export-led economic development in Indonesia Global Social Entrepreneurship Network (GSEN) Toyota
through various trade promotion activities, such as overseas Created by UnLtd., GSEN is an international values-led It’s been five decades since Toyota arrived in Indonesia
market surveys, SME export promotion, trade info services, network comprised of organisations that support early-stage through a joint venture of Astra and Toyota Japan. Together
government-to-gov’t export, foreign investment in Korea (FDI) social entrepreneurs, including AVPN. GSEN’s goal is to help with DailySocial, Toyota Indonesia held Indonesia’s first
promotion and business matchmaking. social entrepreneurs who are just starting out, no matter automotive-themed hackathon competition in 2019. Toyota
where they are in the world, by providing social capital as well also presented an annual event called Toyota Eco Youth to
The Japan External Trade Organisation (JETRO) as technical advice in order to improve their skills. nurture the “ecosociopreneur” mindset within high school
JETRO is a Japanese government-related organisation that students.
promotes mutually beneficial trade and investment relations
between Japan and other nations. And those who want to
find strategic partners and investors, we JETRO can support
to find them. They provide a platform called “J-Bridge”, a
business platform to facilitate collaboration or alliances
between Japanese companies and Indonesian corporate &
startups.
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OPPORTUNITIES
IN IMPACT
STARTUPS
DEVELOPMENT
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Opportunities in Impact Startups Development As the largest economy in Southeast Asia, Indonesia has charted impressive economic growth and is home to a
massive population that is excited to embrace emerging technologies. With the advent of some of Indonesia’s
largest tech unicorns going public, the island country is gathering significant importance and influence as a hub
for startups and talents.

Moving forward from the pandemic, there is an urgent need to recover our economy and learn from the exposed social and
environmental vulnerabilities and build a more sustainable city.

As noted by the Global Impact Investing Network, “Over the past decade, Indonesia has seen more deals and impact capital
deployed by the Development Finance Institutions (DFI) than any other country in the region”. With this encouraging trend
in mind, a rising number of different players in the startup ecosystem are contributing to nurturing the impact startups –
startups with a social and environmental focus while generating promising financial returns.

Apart from the leading roles in nurturing startups by acclerators, incubators. Unique for the impact startups, we see impact
focused organisations like INGOs, NGOs and different certification bodies as a vital source of guidance in impact building.
While corporates and government are important drivers to help them scale their solutions and impacts through various
grants and partnerships. More saliently, legal services firm are also indispensable in bridging the gap in information to
accelerate the impact entrepreneurship industry. Therefore, we envision a thriving and inclusive hub that houses a wide
variety of stakeholders over the next 3 to 5 years!

Additional or other missing content

Please note that we are constantly updating our data and information for future reports. Please notify us of any changes to
the above mentioned orgnanisations, additional organisations and any other key information you believe are beneficial to
include in our future reports.

We are also looking to conduct a survey to understand how your organisation contributes to the impact tecnhology startup
ecosystem and publish the Indonesia’s Startup Ecosystem Findings Report in Q4 2021.
ANGIN

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12910 Jakarta, Indonesia

www.angin.id
contact@angin.id