Commitment as National Ecosystem Builder
So far, the startups that have participated in our accelerator program include names like Payfazz, a mobile banking and payment solution; PrivyID, a universal identity enabler and digital signature provider; Kofera, a performance-based marketing platform; Sonar, a social and digital media monitoring and analytics firm.
These companies had proven traction both inside and outside Telkom Indonesia’s ecosystem. For example, PrivyID has been working to develop a digital identity system for Bank Mandiri and other enterprise including government institutions. Payfazz has been working with Bank Rakyat Indonesia to disburse financial products to the unbanked population. Sonar has been operating in the Philippines and working with regional advertising agencies. Kofera has been working to develop a smart marketing play with Pegadaian (Indonesia’s state-owned fiduciary service giant). The list goes on.
Most of these startups had begun their pilot (and many experimentations) inside Telkom Indonesia (PrivyID with Indihome, Payfazz with T-Money, Sonar with Telkom Big Data Division, and Kofera with Metra Digital Media).
The reason we invited these companies into our accelerator program was simple. Each of these startup has at some point done one or both of the following:
- Provided tangible business results for Telkom Indonesia and partners
- Exponentially increased the value of companies in Telkom Indonesia’s portfolio (meaning the company they helped was able to achieve a higher valuation multiple than what is considered industry average).
After two years and two cohorts, Indigo Creative Nation can claim the best statistics in the country, with more than 70 percent of our startups receiving follow-on investments, north of US$50 million market cap overall, and 90 percent of the startups remaining operational and active after graduation. While many of the region’s accelerators are shutting down, Indigo Creative Nation continues to thrive, successfully putting together new batches of startups.