Nusantara Incubation Fund launched for Indonesian startups

Indonesian startups looking for possible investment opportunities now have another option to which they can pitch their ideas. Bakrie Telecom yesterday launched Nusantara Incubation Fund to invest in new companies who operate web and mobile services and apps as well as next generation media.

The new incubator is allocating more than US$11 million to support several startups for three years and is part of Bakrie's Telecom Media and Technology Vision 2015 which was announced back in March of this year.

The investment committee at Nusantara Incubation is made up of four highly experienced professionals who are recognized as leaders and experts in their fields. They are Shinta Dhanuwardoyo, Frederik J. Meijer, better known as Erik Meijer, Jastiro Arbi, and Hasan Yahya. Their respective profiles are available at Nusantara's website.

According to Anindya Bakrie, principal of the fund, "This is where we expect the next Kaskus and Koprol to be born, but it will have to be owned by our own people. If others are looking to invest, we have no problems with that."

A curious point that wasn't directly addressed was the lack of portfolio that the fund currently has. Asked regarding this seeming oversight, he explained that they have been looking into a number of technology companies over the past several months but cannot reveal their identities. Dhanuwardoyo added that they are hoping to be able to deal with 30 startups over the next three years.

Startups that are looking to pitch are expected to have clear business ideas and directions. There is a guideline that needs to be met by aspiring founders but the bottom line is that they are expected to have a solid grasp of their products, their companies, and the landscape of the field they are entering.

Those who successfully qualify will have the knowledge, the might, and expertise of the companies across the Bakrie Group as part of the infrastructure.