TEMPO.CO, Jakarta-PT Telekomunikasi Indonesia Tbk’s Digital Service Division has been channeling funds worth Rp80 billion to develop startups through startup incubation program (Indigo Incubator). According to Ery Punta Hendrawswara, AVP Business Innovation of PT Telkom, a significant number of startups had shown their interest to participate in Indigo Incubator program, citing that there had been hundreds of applicants every year.
Ery said that Telkom has been strict in its selection to find startups to finance; out of 800 to 1,000 startup applicants every year, only dozens of them were selected. “We are having difficulties to find startups who genuinely have high qualities,” he told Tempo, Sunday, March 20, 2016.
Last year, there were 50 startups who would receive financing through Indigo Incubator program. Telkom supports President Jokowi’s program which targets the establishment of 200 startups in 2016.
Indigo Incubator is a business development program for startups in digital creative industry. The program is a combination of the existing program namely Indigo Fellowship (competition and awards for best digital technology products), Indigo Venture (financing for startups with best digital technology products) and Bandung Digital Valley Business Incubator Program.
Prospective participants could enter the selection based on the suitable category, namely Innovative Idea, Innovative Product and Innovative Business.
The amount of financing will be tailored to the development phase of the startups. Innovative Idea will get Rp25 million and Innovative Product will get Rp120 million.
“Startups who are in business development phase will get financing of Rp250 million and venture capital up to Rp2 billion,” Ery said.
There are 10 main ecosystems being developed in the Indigo Incubator program, among others, education, health, tourism, government, logistics, finance, banking, mobile lifestyle, edutainment and smartphone.
To develop startups, Telkom has prepared two arenas namely Telkom Digital Valley in Jakarta, Bandung and Yogyakarta, and Telkom Digital Innovation Lounge in 13 cities. “We have also prepared startups to participate in trainings at [Telkom’s] representative office in Silicon Valley,” Eri said.