Startup Studio Indonesia opens for fifth batch, seeks 15 startups

Startup Studio Indonesia (SSI), an incubation program initiated by the country’s government, has opened up registrations for the fifth batch of its program, aiming to pick 15 startups in the pre-seed stage.

SSI program and curriculum advisor Zahra Damariva (left) and program coordinator Sonny Hendra Sudaryana speaking with participants / Photo credit: Startup Studio Indonesia

The four-month accelerator developed under the Ministry of Communications and Informatics (Kominfo) will be accepting entries until August 1, 2022, with the program concluding later this year on December 9. It will hold a milestone day toward the end of the program where participants will present their business models to industry stakeholders.

Launched in 2020, SSI aims to help early-stage tech startups to achieve product-market fit. 

Participants will be trained by facilitators like Moses Lo, co-founder of Xendit; Reynold Wijaya, co-founder and CEO of Modalku; Dimas Harry Priawan, co-founder and CEO of Dekoruma; and other representatives from Gojek, Tiket.com, Halodoc, and HappyFresh.

SSI has supported 65 participants, which have raised a total of US$22.7 million in funding. On average, 30% to 40% of participants receive seed and pre-seed capital following the completion of the accelerator’s programs. 

Some of these participants verification platform Verihubs, which raised US$2.8 million in a seed round led by Insignia Venture Partners in 2021, and edtech firm LingoTalk, which secured pre-seed and series A funding after the program.

Semuel Abrijani Pengerapan, Kominfo director general of informatics applications, said that beyond funding, participating early-stage startups can develop and have a significant impact on Indonesia’s economy and quality of life. 

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Through its programs, the ministry targets to produce 150 tech startups by 2024 that can scale in terms of user numbers, revenue, employment, and VC funding.

The fourth batch of the accelerator also selected 15 startups, including social F&B commerce platform Eateroo, fintech firm Finku, and earned-wage access service Gajiku.