Ideosource opens audition for potential local startup investments

Apparently finding a good decent startup is not an easy task. Ask Ideosource, an investment firm led by former e-commerce giant Plasa exec Andi Boediman.

Launched just over a year ago, Ideosource prepared around US$5 million fund for investment, and they’ll be giving away around $250k for each company. Their portfolio consists of gaming company Touchten, event management startup eEvent, and mobile education platform Kark.

Today, Ideosource officially launched a program to find new talent and potential investment dubbed Ideosource Incubation Audition. The audition will take place in 5 cities: Jakarta, Bandung, Jogja, Surabaya and Malang. The end result from the audition, Ideosource will give capital injection for the winners and 3 months incubation class with Ideosource team as the mentor.

In terms of the investment opportunity, Ideosource still focuses on content (music, games,etc) , media/advertising, e-commerce, and  supporting infrastructure in web/mobile/e-commerce technologies. Interested participants should fill the registration form and send it via email to andrias at ideosource dot com. The deadline for submission is September 17th 2012.

We talked to Andrias Ekoyuono, VP of Business Development at Ideosource about the audition. According to Ekoyuono, "by publishing this audition, we want to encourage more startups to pitch and discuss with us (directly)". Ekoyuono also opens the possibility for the investment size they're looking at, this can be flexible and very dependant on the startup itself.

For more information about the Incubation Audition program in those cities, check out Ideosource's website.