TeAM recently completed their Plugged-in Jakarta tour, a 4-day programme designed to help startups build strategic relationships and partnerships as well as gain actionable insights on the Indonesian market. The association led a delegation of 9 startups from Malaysia and Singapore who were selected based on criteria which were set together with TeAM’s Indonesian counterparts.
The purpose of TeAM’s programme is to bring together the various ASEAN startup ecosystems by enhancing access to deal flow and investments in an effective manner. During the programme, the 9 startups dined with angel investors, visited Tokopedia’s headquarters, pitched to VCs, and even had a Q&A with a leading legal firm on business incorporation.
“It was absolutely worth it. Within a short time, I got to meet people that led to beneficial relationships. It wasn’t however just about meeting people – but meeting quality people, which is what we needed.” said founder Srikanth Ramachandran of Moving Walls, an AdTech startup that participated in Plugged-in Jakarta.
Indonesia as a market is highly attractive for startups, but remains a difficult one to enter successfully. This is one of the problems TeAM set out to solve when they initiated their ASEAN Connect programme which attracted 97 applications from startups in Thailand, Indonesia, Philippines, Singapore and Malaysia in less than 2 weeks.
By connecting the delegation to influential ecosystem players and providing the startups with relevant market intelligence, TeAM believes they are providing a crucially needed platform for expansion into Indonesia. The benefits from the programme were immediate with the startups gaining knowledge and networks that would otherwise take a long time to develop.
“We came with the objective to enter the Indonesian market within the next 2-3 months. During these four days we learned what we need to do, and gained a lot of beneficial knowledge needed to achieve this objective through the personalised service provided by TeAM.” said Srikanth.
TeAM will continue its efforts by offering their services to refine startups to an investable stage based on feedback from their Indonesian partners. Following the success of this trip, the Association will be organising a second Plugged-In Jakarta tour and has selected Bangkok as the next Plugged-In city to be completed within Q1 of 2017. The applications for these trips will open in mid-December on TeAM’s website (www.team.net.my) for startups ready to broaden their horizons.