East Ventures and Its Portfolios Initiated Indonesia Pasti Bisa Project
It's a crowdfunding platform to support Nusantics developing Covid-19 test kit
Prayogo Ryza - 31 March 2020
Amidst the Covid-19 pandemic outbreak throughout Indonesia, East Ventures along with some of its portfolios have collaborated to make a contribution. They’ve launched the crowdfunding platform named Indonesia Pasti Bisa to collect funds and channel it for Nusantics to produce its own Covid-19 test kit.
There are three of East Ventures’ portfolios took part in this initiative. First and the main player is Nusantics. The deep-tech genomic startup has just announced the funding last week and currently developing a test kit for Covid-19. The project is part of Nusantics’ job as a member of the Research Force and Technology Innovation Task Force for Handling Covid-19 (TFRIC19) formed by BPPT.
This is another initiation from venture capital to take part in the effort against the pandemic. Prior to this, MDI and its portfolios have created the Indonesia Bergerak dashboard.
The test kit development
In the next three weeks, Nusantics will develop qPCR test kit specifically designed for Indonesian people based on Covid-19 research from all around the globe. The company is to produce 100 sets of qPCR as prototypes and massive production for 100,000 test kits.
In time, Nusantics will be launching the whole-genome sequencing to map the virus causing Covid-19 in Indonesia. The genomic mapping of various kinds of the virus becomes important due to the virus mostly mutating to different kind of form based on the environment.
Nusantics’ CEO, Sharlini Eriza Putri said, “The technology Nusantics uses in microbiome skin analysis is almost the same as the technology needed to detect Covid-19. Nusantics team has experience in designing our medical tests and bioinformatics analysis in similar projects. The urge to be of service to the nation and an appropriate background encourages us to contribute.”
The second startup that took part in the initiative is KoinWorks. In Indonesia, KoinWorks can certainly play a role in providing and managing the fund-collecting platform.
“It is a privilege for us to contribute to Indonesia by engaging and playing an active role in this activity against Covid-19. KoinWorks will use its expertise and technology in crowdfunding activities to provide a clear and transparent accountability platform. The technology we use is the same with the one we use to gather thousands of lenders to set funds on our platform,” Co-Founder and Executive Chairman of KoinWorks Willy Arifin said.
Next, the IDN Media. IDN Media CEO Winston Utomo admitted that he had never hesitated to take part in presenting relevant and useful content for readers, including with positive initiatives amid the Covid-19 pandemic.
“IDN Media feels some kind of social responsibility to take part in efforts to suppress the spread of Covid-19. We believe Indonesia Pasti Bisa initiated by East Ventures and several other partners can be the right platform to contribute to the suppression of the spread of Covid-19 in Indonesia. Through the platform “IDN Times news (part of IDN Media), which reaches more than 45 million readers throughout Indonesia, we are ready to maintain transparency of this initiative and periodically convey its developments to the wider community,” he explained.
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For the initial stage, East Ventures is targeting to raise IDR 10 billion funding. The Rp9 billion will be allocated to support Nusantics in providing 100,000 test kits, while Rp1 billion will be used for whole-genome sequencing projects. East Ventures’ Co-Founder and Managing Partner, Wilson hopes Indonesia Pasti Bisa can definitely be non-profit funds to be channeled properly through the East Ventures network.
“By running the platform based on a result-oriented, accountability and transparent foundation, we hope that everyone can participate confidently through donations and move together for our beloved Indonesia, against the Covid-19 virus. Indonesia Can Definitely Make Covid Test Kits -19 alone, “added Willson.
Original article is in Indonesian, translated by Kristin Siagian