Indonesian Stock Exchange sets up startup incubation program

Indonesia Stock Exchange building. Photo credit: Everyone Sinks Starco.

The Indonesian Stock Exchange (IDX) is calling for applicants to its in-house startup incubation program.

Startups will receive training, a space to work, as well as “access to venture capital and listed companies,” says the IDX.

There’s a fee of roughly US$75 per person per month to participate in the six-month program.

The curriculum reads like a startup 101 handbook. All the basics are covered: ideation, teambuilding, user experience, programming, market research, legal considerations, metrics, pitching, and so on. There’s also a segment on going public. The program targets early-stage startups who must have at least “a working prototype or beta product.”

Corporate incubators and accelerators are mushrooming in the country. Indonesian investment firm Gan Kapital just launched one in collaboration with Plug and Play. Telcos were among the first to launch startup programs. Indosat Ooredoo runs Ideabox, while state-owned Telkom has Indigo.