Top 20 Incubators And Accelerators In Indonesia
We have established in our last three articles that it’s a great time to be a startup in Indonesia. The archipelago startup goldmine has all the push factors needed to develop a booming entrepreneurial ecosystem, including investors, penetration of technology, economic conditions, and more than $336 Mn pumped in startups in 2016.
Next in our series exploring the Indonesian startup ecosystem, we are covering the ecosystem builders, i.e, incubators and accelerators. They are the organisations meant to support startups by providing engagement with mentors and industry leaders, physical space and in some cases, even funding. Therefore, they occupy a central space in today’s evolving digital economy.
Startup incubators are essentially organisations that promote the speedy growth and success of startups, MSMEs, and early-stage companies. They provide a foray of services including capital, connections with angel investors, State Governments, economic coalitions, and others.
Accelerators accelerate the speed of your business – in most cases an existing business or an idea. The programmes are short and intense lasting anywhere from three months to a year. They help you hone your idea and build it out.
Here’s a comprehensive list of the most important incubators and accelerators in the Southeast Asia’s fastest emerging market’s business space:
Incubators in Indonesia
Techbator is a technology incubator that supports several technology startup initiatives.
Location: Jakarta
Launched In: 2011
Sectors: Technology-based startups
Notable Startups Incubated: BUQU, SURA
The incubator was founded as a joint venture between Rebright Partners, a Japanese incubator and Corfina Group, an Indonesian financial group.
Location: Jakarta
Launched In: 2011
Sectors: Internet and mobile services
Investment Structure: Seed funding, bridge, and Series A funding.
Notable Startups Incubated: Bukalapak.com
Founded by Paul Sangeet Choudhary, Ramu Manusama, and Arif Widhiyasa, the incubator runs a programme called Indigo Nation under Startup Digital Indonesia, under which it offers the incubated startups mentoring, market access, API support, access to global accelerators and incubators, and coworking spaces in Indonesia, across 15 cities.
Location: Bandung
Launched In: 2012
Sectors: Sector-agnostic
Investment Structure: Seed Investment upto $150K.
Startups Incubated Till Date: 50+
Notable Startups Incubated: Kakatu, Jarvis Store, X-iGent etc.
GEPI (Global Entrepreneurship Program Indonesia)
Global Entrepreneurship Program Indonesia (GEPI) is a private non-profit organisation that aims to support early-stage entrepreneurship in Indonesia through its incubation and angel investment.
Location: Jakarta
Launched In: 2011
Sectors: Tech startups
Investment Structure: Undisclosed funding support
Kolaborasi (PT. Kolaborasi Kapital Indonesia)
It offers a digital incubation programme that aims to provide remote entrepreneurship assistance with varying modules the startups can choose from, as per their evolving needs.
Location: Bandung
Launched In: 2013
Sectors: Digital, social, and creative ventures
Investment Structure: Undisclosed funding support
Number of Batches Graduated: 3
Startups Incubated Till Date: 11
Duration of Each Batch: 12-14 months
Notable Startups Incubated: Co.fund, Azzam, Wordshelf etc.
Skystar Ventures is a tech incubator and coworking space founded by Universitas Multimedia Nusantara (UMN) and Kompas Gramedia Group (KGG). Skystar Ventures helps founders tap into KGG’s diverse network of distribution channels to strategically market their product or service and quickly build a customer base.
Location:Tangerang
Launched In: 2105
Sectors: Early-stage startups in the Internet, mobile, social, education, and ecommerce sectors.
Investment Structure: Undisclosed/varying amounts of investment in tech-based startups via their investment arm, Skystar Capital.
Number of Batches Graduated: 3
Duration of Each Batch: 12 months
Notable Startups Incubated: CaterInc, JobMine
Business Incubator Primakara receives operational support from the agency for the Assessment and Application of Technology (BPPT). In addition, the incubator has also been cooperating with various communities, such as Gamedev and Vali for fund support.
Location: Denpasar
Sectors: IT
Investment Structure: It does not provide funding.
BINUS Startup Accelerator is a series of pitching-mentorship programmes for BINUSIAN active students in pursuing entrepreneurial spirit and experiences to potentially scale their business in the market. Through an open application process, students who apply to the BINUS Startup Accelerator will get several advantages such as free training and enhancement programmes for every role, access to office facilities, series of company building activities, and go-to-market support. At the end of the programme, a Demo Day will be held for the startups to meet and pitch in front of the investors.
Location: Jakarta
Launched In: 2014
Sectors: Tech-based startups
Investment Structure: Seed investment of $1,600. As per their official website, the investment can go upto $6,400. The university has yet to finalise the amount of shares it plans to keep from each participating startup.
Duration of Each Batch: 12 weeks
Notable Startups Incubated: Starnesia, Ennouns, Info Diskon
KLN Play gives strategic support such as awareness, traffic, technological support, and connections with stakeholders to its incubatee startups. KLN Play aims to not only become loyal supporters of the startup, but also hopes to become an investor in them.
Location: Jakarta
Launched In: 2015
Sectors: Ecommerce, advertising, and media startups.
Investment Structure: Undisclosed Seed support
Merah Putih Inc. is a startup creator, an incubator, and an early-stage investor that mainly focusses on digital ventures and provides funding and support to incubatee startups.
Location: Jakarta
Launched In: 2010
Sectors: Fintech, Saas-based or community-based startups
Investment Structure: Undisclosed Seed and/or early-stage investments. It also provides Series B investments through a different investment arm.
Startups Incubated Till Date: Five
Notable Startups Incubated: Ansvia, DailySocial, Infokost, Kincir, and Kurio
Initially a VC firm, Grupara introduced its incubation facility in 2012. Other than Seed investment, the incubator also provides startups with office space which is based in Fatmawati, Jakarta Selatan, business supports, mentorships as well as a follow-up funding round.
Location: Jakarta
Launched In: 2012
Sectors: Internet, technology, and fashiontech startups
Investment Structure: The incubator provides Seed stage investment ranging from $10,000 to $50,000, but may differ in some special occasions.
Startups Incubated Till Date: Six
Notable Startups Incubated: Seekmi, Freeware Spaces, Pazpo
It is an incubator and venture capital firm in Indonesia. Ideosource provides equity finance to support a solid capital base for future growth to potential companies, and acting as business partner.
Location: Jakarta
Launched In: 2012
Sectors: Online content, media, advertising, ecommerce, payment and supporting infrastructures in web and mobile technologies.
Investment Structure: Undisclosed Seed and early-stage investment that can vary with startups.
Startups Incubated Till Date: 13
Notable Startups Incubated: EFishery, Gimmie, ACommerce, Bhinneka.com
Accelerators in Indonesia
Startup accelerators have now become fixtures of the tech community. They boost a venture with resources such as mentorship, capital support, and in some cases, coworking spaces as well. Indonesia’s growing entrepreneurial community has been fostered by accelerators and many startups have emerged as fast growing players from these institutions.
Start Surabaya is an initiative from Kibar, Spazio, Suara Surabaya FM, Enciety, and supported by the City Government of Surabaya. It aims to build a creative industry ecosystem which is supported by the six stakeholders: government, media, academicians, community, industry, and technology.
Location: Surabaya
Launched In: 2015
Sectors: Sector-agnostic
Investment Structure: Undisclosed Seed and early-stage investment
Number of Batches Graduated: Three
Startups Accelerated Till Date: 10
Duration of Each Batch: 12 weeks
Notable Startups: Banku, PocketMoney, Kingdorm
The Founder Institute is a startup launch programme for entrepreneurs. Based in Silicon Valley and with chapters across 60 countries, the Founder Institute’s mission is to “Globalise Silicon Valley” and build sustainable startup ecosystems worldwide.
Location: Jakarta
Launched In:
Sectors: Sector-agnostic
Investment Structure: It does not offer investment support.
Startups Accelerated Till Date: 2,500 globally.
Duration of Each Batch: Four months
Notable Startups: Kejora, BuatKontrakt
Ideabox is an award-winning, early-stage tech accelerator based in Jakarta. The programme works closely with Indosat and Ooredoo Group opening market access to Southeast Asia, Middle East & Africa. The team consists of entrepreneurs & experts, who claim to work closely with the founders to drive growth, assisting in product & go-to-market strategy, team building and others as needed. It also offers a coworking space -Kejora.
Location: Jakarta
Launched In: 2013
Sectors: Telecommunication, mobile & Internet
Investment Structure: Seed funding upto $100K
Number of Batches Graduated: Three
Startups Accelerated Till Date: 14
Duration of Each Batch: Four months
Notable Startups: Shoop, Wobe, Gogonesia, SociaBuzz
Alpha Startups Bootcamp (1337 accelerator)
It is an accelerator based in Indonesia that offers pre-Seed funding, AWS business support and coworking spaces across the country.
Location: Jakarta (HQ Malaysia)
Launched In: 2016
Sectors: Tech-focussed early-stage startups
Investment Structure: A micro-investment of US$5,000 in cash along with other benefits, such as free access to Amazon Web Services.
Startups Accelerated Till Date: 23
Duration of Each Batch: Three months
It is a joint venture between US-based venture capital firm Fenox and the Japanese IT company Infocom. As per its website, GnB will groom early-stage startups through mentorship and access to facilities and funding opportunities.
Location: Jakarta
Launched In: 2016
Sectors: Mobile, consumer Internet, or health IT.
Investment Structure: $50K in funding to early-stage startups.
Number of Batches Graduated: Two
Duration of Each Batch: Three months with a batch of six startups.
Notable Startups: Hijup, Pomelo, Jurnal, Booklapak
Google Launchpad Accelerator (Link not working)
Location: São Paulo,US and Alagoas
Launched In: 2015
Sectors: Tech-focussed startups
Investment Structure: Up to $50K in equity-free funding.
Number of Batches Graduated: Two
Startups Accelerated Till Date: 12
Duration of Each Batch: Two weeks of training in California, followed by a remote mentorship for six months.
Notable Startups: HijUp, Talenta, Jarvis Store, Ruangguru
Project Eden (startuplokal) (Website not working)
Project Eden aims to provide pre-Seed investment and enable entrepreneurs to launch ideas. According to its website, the people behind Project Eden are all experienced technologists and investment entrepreneurs with a passion to support the Indonesian local startup ecosystem.
Location: Jakarta
Launched In: 2011
Investment Structure: Pre-Seed investment
Notable Startups: Happify, Orbitin
FasterCapital is an accelerator based in Dubai and has partnered with local startup ecosystems in Indonesia including Eri Taruna and Itho Suryoputro.
Location: Dubai
Launched In: 2010 in Indonesia
Sectors: Sector-agnostic
Investment Structure: Varying rounds of funding throughout the year.
Number of Batches Graduated: It does not follow a batch system.
Startups Accelerated Till Date: 20, globally
Notable Startups: Indocrypt, AutoFleem.io, dLook
If you are a budding entrepreneur looking to explore business opportunities in Indonesia, then these support systems will be your go to places to start your venture.
[If you are a startup based out of Indonesia and want to get featured on Inc42, write to us at [email protected]]
