Pintar Ventura Group Develops a Series of Applications for MSMEs
Many people are competing to create innovations, but to build a company or develop a new product is not an easy task. Around 90% of startups fail to maintain their business.
A fact that begs the question: where are the faults that caused them to fail and what can be done to increase their chances of success?
Various initiatives have been launched to support business development, such as venture capital in terms of capital, as well as accelerator and incubator programs for more integral support to prospective entrepreneurs.
Still within the scope of support for business development, Pintar Ventura Group offers a relatively new concept in Indonesia, namely the venture studio.
Venture Studio Concept
Quite unlike the venture capital approach, venture studios are closely involved in the day-to-day operations and strategic decisions of new business development efforts.
Once a startup shows traction, it can look to raise capital from outside investors, including VCs. This concept is quite close to the definition of a venture builder.
Co-Founder & CEO of Pintar Ventura Group Vlad Ayukaev said, Venture Studio is the right solution to build a business with less risk. This may not be a familiar concept in Southeast Asia, but this concept has proven successful in Europe, especially the markets in Southeast Asia. where entrepreneurs still have difficulty getting independent capital support.
After more than a year of operation, Pintar Ventura Group (PVG) has started a venture studio initiative and set a focus on fintech products targeting the MSME market.
We believe that Indonesia’s main economic strength is MSMEs. The country has around 57 million businesses, of which about three-quarters have not yet been digitized, added Vlad.
In the virtual media visit agenda, Vlad admitted that the company has experienced quite rapid growth in the past year. With 16 development teams mostly offshore, the company targets to expand and build a separate R&D center in Indonesia.
PVG is supported by a European family company that has great confidence in the Indonesian market. Currently, PVG has launched two projects in the fintech realm, namely Point of Sales and Bill Payment.
Our target is to be able to develop at least 5 projects this year. For each project, we will invest in terms of capital and product development up to BEP (Break Event Point), he continued.
In this case, the company realizes that this initiative requires a process that is not short. In order to launch the existing business potential, PVG is also looking for local partners who have the same vision to work together to develop this initiative.
Products that Focus on SMEs
In the agenda of helping business development that focuses on targeting MSMEs, PVG admits that it has invested $2.5 million or the equivalent of 35 billion Rupiah. In addition, it also has two product portfolios, namely POS called Posy and the Klikoo payment platform which has reached more than 20 thousand MSMEs in Indonesia.
There is no one solution that can answer all the pain points in this industry. Therefore, we want to create a very niche product ecosystem for MSMEs. Departing from one pain point to another, said PVG Chief Business Development Januar protection.
One of the products that have been launched is Posy, a Point of Sales platform designed for MSMEs in Indonesia. This platform offers convenience for MSMEs to manage inventory, create financial reports and help analyze business and employee performance.
In addition, which will soaon be launched is Klikoo which offers convenience in conducting PPOB transactions. Asked about the challenges, the company realized that understanding the local market was needed for this segment.
The company itself is confident in its capable technology. So far, his team sees that digitalization is one of the most fundamental problems, apart from regulation.
From the government side, the transformative recovery in 2022 in the MSME and cooperative sector is to increase the number of MSMEs to enter the digital ecosystem by 30%, around 20 million MSMEs are targeted to go digital