7 Startup Incubators to Help You Accelerate Your Business
Startup incubators is a program in the form of business support that can accelerate the successful development of startups and startups by providing the necessary resources and services. At this stage, it is usually discussed about developing marketing strategies, mentoring, and business training.
Basically what is done by a business incubator is a part of the partnership program to develop the business together, intending to make the business a real and growing business following the vision of the company. The incubator program usually has a longer period than the accelerator, which is six months or more.
List of Startup Incubators in Indonesia
1. 1000 Startups
Initiated by the Ministry of Communication and Information and Kibar, the incubation program is divided into five phases; Ignition planting an entrepreneurial mindset, Workshop on startup basic skills training, Hacksprint team formation to make prototypes, Bootcamp coaching with mentors, and Incubation coaching until ready to launch.
It is targeted that by 2020 there will be 1000 startups printed which will be the solution to various problems by utilizing digital technology. Held in various cities, this activity became a bridge for individuals interested in developing a career in the world of digital entrepreneurship.
Because if traced from the beginning to the end, the activities in the 1000 Startup National Movement are indeed preparing talents from zero, until they are ready to become part of the digital startup ecosystem in the country. Until now the 1000 startup program is still ongoing and opens opportunities to all young people in Indonesia.
2. Mandiri Capital
An incubator made by Bank Mandiri which has the vision to encourage the presence of startups in the field of financial technology. In the process, the program works with Indigo Incubator and ActionCoach.
Even from the fintech category, the incubator still divides it into three main focuses, namely payment, lending, and enterprise solutions. These three segments are considered to be able to synergize directly with Bank Mandiri Group. Mandiri Capital Indonesia (MCI) focuses on helping startups in four ways, ranging from investing, mentoring, helping startups strengthen networks, and exclusive incubator programs.
3. IDX Incubator
IDX Incubator is an incubation program initiated by the Indonesia Stock Exchange (IDX). Its vision is to help develop Indonesian digital startups, from a business, legal perspective, to helping startups to pitch to the stock exchange floor or conduct an IPO. This incubator program is carried out thanks to the cooperation of IDX and Bank Mandiri.
BEI promises a number of things participants can get, from co-working space facilities, business development programs, access to capital, and workshops or other events that are certainly beneficial for startup business development, complete with several mentors who are ready to foster.
4. Bekraf for Pre-Startup (BEKUP)
Bekraf for Pre-Startup (BEKUP) is a program specifically designed to mature the integration of startup ecosystems from upstream to downstream, namely the maturation of prospective human resources who will build startups in the country.
The activities are in the form of workshops, both related to business management and technical development of products. The BEKUP program is more suitable to be placed in the pre-incubation phase, because this activity focuses on coaching individuals from 0, to form a team that is ready to enter the initial incubation stage.
Not just releasing startup startups who graduated in this program, but BEKUP connects it with advanced incubation channels through Bekraf’s connection. Including bringing startups born into the incubator and other accelerator programs that have worked with Bekraf.
5. Red and White Inc
Merah Putih is the first incubator in Indonesia. Merah Putih was founded in January 2011 by Danny Wirianto, Antony Liem, and Herman Kwok. In its first year, Merah Putih has invested in six local startups, DailySocial, Krazymarket, Infokost, Bolalob, Ads On It, and Lintas News. Merah Putih also holds an annual competition to capture young talents in the startup world.
6. Startup Weekend
The concept of Startup Weekend is to provide an opportunity for entrepreneurs to validate ideas and mature concepts to get started. The event will start with an “open mic”, each participant has the right to submit ideas that have been held in front of the audience.
The presentation must be convincing because there is also the opportunity to find team members to realize the idea. This event is open to anyone interested in developing startups. Starting from students, entrepreneurs, programmers, designers, and others.
Some of the mentors presented were successful startups and managing partners of venture capital companies. Later the ideas chosen become winners, because the competition will also be held in the event, will get a private session to discuss with the mentors.
Driven by four people from different startups, namely Yohan Totting, Moon Leoma, Sutansyah Marahakim, and Adryan Hafizh, Kolaborasi.co tried to be a place for startups to gather, especially in the Bandung area, to study together.
Not only for business people in the online world, but Kolaborasi.co also accommodates startups engaged in the offline sector. Unlike other programs that focus on facilities or funding, as the name implies, the concept of collaboration is more emphasized. This startup incubation group has been established since 2013.
Incubators Play an Important Role in Startup Progress
Many new startups have failed and went bankrupt in Indonesia due to wrong business planning and intense market competition and the lack of investors to develop the startup. Therefore, startups that are just developing in Indonesia are advised to follow the incubator program because it offers a variety of benefits.
For startups, the role of the incubator is very helpful for business existence. Incubators or accelerators generally provide seed funding for the development of startups in their first years. They also provide a network of contact people with skills that suit the needs of startup businesses.
On the other hand, the incubator is also responsible for guiding and providing business training for the startup founders he fostered. In administrative matters, this incubator helps in various arrangements such as financial and taxation matters, legal affairs, and so on. The existence of startup incubators is undoubtedly one of the important things in the startup ecosystem.
(Read also: 5 Popular Indonesian Fintech Startups and What They Offer )