Shadine Taufik · · 2 min readEast Ventures launches entrepreneurial program for laid-off tech talent
VC firm East Ventures has launched the fourth installment of its Indonesia Pasti Bisa (IDPB) program, which aims to support communities affected by mass layoffs.
East Ventures’ team / Photo credit: East Ventures
The fourth iteration, called Maju Terus Pantang Mundur (IDPB MTPM), gives blossoming entrepreneurs a chance to ideate, receive coaching from experts, and connect with investors. It also offers US$500,000 worth of uncapped convertible notes for 30 participating teams.
The initiative is a collaboration between the VC firm, as well as Tech in Asia, IDN Media, and Katadata.
“Thousands of talents within the tech ecosystem were laid off. We believe that the impacted talents have great potential, yet they are just at an unfortunate time and condition,” said East Ventures co-founder and managing partner Willson Cuaca.
Applications for the program are now open and will close on November 30, with the 120 shortlisted teams slated to be announced on December 1.
A day after, the teams will start 10 days of coaching and attend a hackathon day to sharpen their ideas.
By December 13 and 14, the teams will get to present their minimum viable product to the judges. The 30 teams that will receive the funding will be announced through East Ventures’ and the program’s official websites and social media channels.
See also: Exclusive: Init6, East Ventures back Indonesian rental firm from ex-Listee execs
Experts guiding the program include:
- Albert Lucius, founder and CEO of TipTip
- Sigit Kouwagam, co-founder of Bibit and Stockbit
- Rachmat Kaimuddin, deputy for infrastructure and transportation coordination for the Coordinating Ministry of Maritime Affairs and Investment
- Andree Susanto, CEO of Waresix
- Stefanus Ade, CIO of Indonesia Investment Authority
- Farid Naufal Aslam, co-founder and CEO of Aruna
- Izak Jenie, technical advisor for digitalization for Indonesia’s health ministry
- Henry Hendrawan, co-founder of Pintarnya
- Willis Wee, founder and CEO of Tech in Asia
- Winston Utomo, founder and CEO of IDN Media
- Wesley Harjono, managing director of Plug and Play Indonesia
- East Ventures’ investment team
Editing by Samreen Ahmad and Jaclyn Tiu
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