Ideosource Incubates 6 Startups from 120 Submissions

Indonesian incubator Ideosource has announced today its choice of six startups from the company’s incubation audition which was held in September. Next month, the six startups’ businesses will be showcased to the public – and interested investors – during Ideosource’s demo day.

Andrias Ekoyuono, the business development VP at Ideosource, said that the incubator received more than 120 submissions during the audition program. Then the company met and auditioned 54 startups located in five cities in the country. Ideosource will continue to support the technology ecosystem in Indonesia and plans to hold another audition program in the future.

These are the chosen startups:

• EverIndo is described as an eBay power seller, helping Indonesian companies sell its products worldwide. This is done through eBay and the startup’s own website. The EverIndo team told StartupBisnis that it handled around 1,000 transactions in the first five months in business.

• iMindSound’s business sounds interesting. The startup builds mobile applications tuned into brainwave technology that can influence a person’s mood. The app is going to be first launched for iOS, and then it will be made available for other OSes like Blackberry, Android, and Java-based feature phones.

• KelirTV is a peer-to-peer live-streaming and video-on-demand platform which aims to help people broadcast their videos live on the web and mobile phones. The startup had its biggest test so far when used recently to broadcast live coverage of Kompasianival, an event for Indonesian bloggers and online communities.

• PasarMinggu.co is an e-commerce site that sells fresh foods like vegetables, fruit, and meat online. So far, the startup’s business model sounds pretty much similar to that of Jakarta-based RumahSegar ⁽¹⁾.

• VeyronForex ⁽²⁾ is a platform where foreign exchange investors can meet and conduct mirror trading.

• WearFable is a fashion e-commerce site targeting Indonesian youngsters.

Ideosource has been making waves this year, with investments made in two companies – Singapore-based loyalty service provider Gimmie and Islamic women’s fashion store Saqina. Other Ideosource portfolio companies include game studio TouchTen (makers of the popular Infinite Sky game), event management platform eEvent, and Singapore-based edutainment company Kark.