Indonesian EdTech Startup Won International Pitching Battle
The development of digital startups in the education sector shows that their presence can compete and excel in the international arena. This was proven by Simak-Online, an educational startup from Indonesia who managed to come out as the first champion in the Pitch Battle arena.
This startup pitching competition is a series of Tech in Asia Conference held in Jakarta earlier this month. Simak-Online is an integrated online application that can be used by schools, teachers, and students to be connected to one and another.
This startup offers convenience for school administration in managing activities and assessments. The second winner is Wisible, a startup that provides Customer Relationship Management (CRM) service. In this case, this platform offers CRM services that have been integrated with various communication channels.
Meanwhile, the third winner is Halofina, a startup with the concept of virtual assistant for the millennial generation who wants to start managing their financial budget. The way to do this is by investing in stocks, mutual funds, retail bonds, and gold.
The Competition Granted a Total of IDR 113.6 Million for the Winners
The startup pitching competition itself gave a total prize of IDR 113.6 million and an opportunity to get guidance from Sequoia Capital. In an official statement about the Tech in Asia Conference, it was mentioned that the event had attracted more than 5,500 participants both local and foreign.
The participants had the opportunity to gain a lot of insight through 63 content stage sessions from 151 prominent figures in the technology industry in Asia. A total of 301 startups from 15 countries also displayed their respective innovative products in the Startup Factory segment at this conference.
“We will continue to grow with the ecosystem and like all the feedback provided. So, don’t hesitate to tell us various ways to continue to support the development of the startup ecosystem in Asia,” Chief Operating Officer of Tech in Asia, Maria Li, said through written statements.
She also explained that Tech in Asia, as one of the largest technology community platforms in Asia, held the conference as a liaison between startups and investors. According to her, the founders, innovators, and predecessor investors have created a collaborative ecosystem and focus on sustainable growth.
“Therefore, as a form of support to develop a startup ecosystem, we are trying to be a liaison that helps digital entrepreneurs build businesses in the Asian market,” Maria added. She also mentioned that the investment value obtained by startups in the Southeast Asian region this year experienced growth.
Investor Funding in ASEAN Reached 7.6 Billion U.S. Dollars
The results of research from Google, Temasek, and Bain & Company entitled “e-Conomy SEA 2019” reported that investor funding that entered ASEAN during the first half of 2019 reached 7.6 billion U.S. dollars. It showed an increase of 7 percent compared to the same period in 2018.
Meanwhile, Temasek’s Joint Head Investment Group Portfolio Strategy & Risk Group, Rohit Sipahimalani, said that investor enthusiasm remained great since it was driven by three factors. These three factors are the size of the productive young generation population and the development of internet connectivity as well as penetration.
The growth of the middle class is another factor that maintains investors’ enthusiasm. Meanwhile, Simak-Online, the winner of Tech in Asian pitching battle this year, brought home USD 5,000. This edtech startup was said to already work with 410 public high schools and middle schools in Jakarta.
In the past six months, the company has generated around USD 23,000 in revenue. Then, the company also claimed that it has served more than 300,000 students since August 2019. These students have completed approximately 200,000 exams on their platform.