ModalSaham Supports ‘Menjadi Nyata’ Incubation Program for 5 Startups
The population in Indonesia reaches more than 260 million people. Unfortunately, the number of technopreneurs in the country is still very minimal. Taken from data sources that there are only 1.56% technopreneurs of the total population of Indonesia. Now is the perfect moment to grow rapidly because society is being forced to use technology.
It is hoped that the younger generation can be relied on to make the biggest contribution to become an economic driver. For example, through the growth of digital startups, this group has the potential to be developed into entrepreneurs by taking advantage of the opportunities of the digital economy.
This background is what makes Erendi Digital Labs, a company engaged in technology research and development, initiated the online incubator startup program Menjadi Nyata. At the same time creating an investment company that concentrates on investing in SMEs and startups in Indonesia and this idea was welcomed by ModalSaham by joining the program.
A Total of 48 Startups Joined this Program
In this program, 48 startups have signed up to the Menjadi Nyata incubation program. The startups that signed up came from various industries. Starting from agritech, artificial intelligence, e-commerce, fintech, healthtech, internet of things, logistics, marketplace, media, software services, and waste management.
After going through the kick off stage which was held last June to a virtual roadshow through a webinar entitled Menjadi Nyata Talks in 10 cities, now 5 startups have been selected to participate in this online incubator program.
The five startups previously selected have participated in two selections. The first is based on the level of innovation, creativity, originality, social impact, technical feasibility, and implementation. The second is the elevator pitch selection in front of the jury by presenting the problems, solutions and business models offered.
The CEO of ModalSaham and VP of Menjadi Nyata Muhammad Reza Alkhawarismi said that the five startups are entitled to participate in online incubation for 2 months, until the end of October 2020. The goal is to finalize the concept and make it a product with the help of mentors and materials as needed.
Reza said, going forward, Menjadi Nyata will provide 3M facilities, namely Money, Mentoring, and Market Access for the five startups. The total money given is IDR 100 million and it is hoped that at the end of the program they can launch a startup that is useful for the community.
The incubation program given to 5 selected startups includes conceptualization, training, mentoring, and product development for 2 months, said Reza.
Eligible to Join Demo Day
Furthermore, after the incubation is complete, his party will hold a demo day. Startups can present their products in front of the ModalSaham team and other venture capitalists in this program.
The hope is that in two months they will have traction, so that their business model is proven and can attract Venture Capital to provide early stage funding to scale up their startup, said Reza. The five startups that can participate in the incubation program are:
An edutech startup from Tangerang. This startup brings together students and teachers on a platform. Students and teachers can learn directly online and offline.
Gudings is a logistics startup from Bogor that provides cloud storage for frozen food. This startup provides cold chain storage and delivery services throughout Indonesia.
Loak.co is a waste management startup from Bandung that focuses on solving waste problems using the upcycle method. Waste is recycled into furniture or decorative to support smart living.
Sisdes is engaged in software as a service and comes from Purwokerto. This startup provides a public service platform at the village government level. The goal is to help problems for effectiveness, transparency, and speed with an integrated system.
Scrapiro is an artificial intelligence startup from Jakarta that provides a logistics application to connect waste from sources to the recycling process supported by AI technology.