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- 135 - Combatting Complexities to Home Ownership, End-to-End: Dayu Dara Permata of Pinhome
Dayu Dara Permata, a 2022 Endeavor Entrepreneur, joins the Indo Tekno podcast to discuss the "three barriers to home ownership" that her start-up Pinhome is focused on eliminating. "There's just huge information asymmetry in the market," she observes. Dara moreover estimates that 70-80% of homebuyers require financing to transact, and most have few means to secure it properly. The third challenge relates to the sheer complexity and cost of any transaction, particularly in its final stages. The company has sought to digitize as much of this historically fraught process as possible through a marketplace architecture. Ensuring "seamless onboarding and making the journey of uploading, publishing listings, etc. frictionless" has been key. A five-year veteran of Gojek having led its Lifestyle & Commerce Product Group, Dara discusses how that role helped inspire Pinhome's novel "Home Services" offering which, among other things has driven down the platform's CAC (Customer Acquisition Cost) while maximizing LTV (Customer Lifetime Value).
Tue, 30 Jan 2024 - 134 - Deep in the Seaweed: Dodon Yamin of BANYU
Indonesia represents some 30% of global seaweed production, a market with the opportunity to grow to $26.15 B by 2028. Dodon Yamin, Cofounder and CEO of BANYU, joins the Indo Tekno podcast to discuss the company's end-to-end farm technology platform for Indonesia's seaweed farmers. BANYU's value proposition sits upon three pillars: 1) enhanced seedling availability for Indonesia's farmers, 2) the application of blockchain-based smart contracts in order to improve commercially an otherwise inefficient and "leaky" industry supply chain, and 3) the use of IOT-based (Internet of Things) equipment and software to generate data that can be aggregated, stored and analysed for better farming results. Impressed by the success of fellow ITB alumnus Gibran Huzaifah at eFishery (podcasts Season 1 Episode 14 and Season 5 Episode 5), Dodon acknowledges the need for broader investor understanding of Indonesia's rising "aquatech" movement. BANYU has set an ambitious goal of 10x growth both this year and next, seeking to position itself as a key player in unlocking the country's seaweed opportunity.
Wed, 24 Jan 2024 - 133 - A Musician Orchestrating Synergies Across Small Merchants: TJ Tham of tjufoo
Our latest Indo Tekno podcast guest, TJ Tham, comes from the relatively unorthodox background of a formally trained musician. TJ feels he is able to apply the more "right-brained" traditions of a musical upbringing across a number of facets in his role as co-founder of tjufoo, one of Indonesia's most successful "brand aggregators". Success in both roles depends upon a number of similar skills in TJ's mind. For instance, "music involves a lot of patterns." Similarly, identifying successful small Indonesian merchants requires a "keen eye for pattern recognition." A brand aggregator team like tjufoo commonly invests in or acquires small merchants, and then applies specific expertise to multiply the merchant's growth. tjufoo's favorite sectors are currently consumer electronics, home & living and FMCG (consumables). Although some of tjufoo's global brand aggregator peers have gone bankrupt of recent, the company's leadership team feels it has struck a more sustainable business model, not by solving a succession of discrete problems, but by introducing the "processes (and) the frameworks to help small merchants grow sustainably in the long term."
Tue, 19 Dec 2023 - 132 - A Brand Builder Now Enabling an Entrepreneurial Ecosystem: James Prananto of Kopi Kenangan
James Prananto joins the Indo Tekno podcast to discuss the origins of his collaboration with fellow Kopi Kenangan cofounder Edward Tirtanata. "We wanted to prove that our model works...but the malls and landlords only wanted to deal with the big brands" in the early days. The pair's eventual success in raising high quality VC money helped solve this and other problems, raising Kopi Kenangan's profile and legitimacy. James and associates Fandy Cendrajaya and Christian Sutardi more recently founded Kopital Ventures to leverage their expertise and networks of contacts for the latest generation of Indonesian entrepreneurs. "It also allows me to give back to the community by growing the Indonesian startup ecosystem." The most defining value-add that Kopital offers its investee founders is "the amount of time that we spend with the founders." While James has found the latest crop of Indonesian entrepreneurs much more daring than their predecessors, he urges the country's younger founders to "dream bigger".
Tue, 12 Dec 2023 - 131 - Morphing the Mushroom into a Leather Alternative: Adi Nugroho of MYCL
Indo Tekno guest Adi Nugroho's technological experimentation with mushrooms began nearly 15 years ago. His first major breakthroughs in exploiting "mycelium" as a sustainable alternative came in the construction industry, where it proved itself to be lightweight, less pollutive, fire-resistant and have good insulation properties. Adi's current venture, MYCL, has gained impressive traction in major industries such as automobiles, fashion and furniture, all of which seek natural and sustainable alternatives to the highly pollutive animal leather fabrication process. In harvesting a targeted 250,000 sq ft of mushrooms next year, MYCL can displace leather production which would otherwise create 430 tons of CO2 emissions, result in the slaughter of 7,000 cows and turn up to 1. 5 million liters of fresh water into tanning effluent.
Tue, 05 Dec 2023 - 130 - Improving Monetization for Indo's Online Authors: Ario Tamat of KaryaKarsa
The global e-book market totalled USD24 billion last year. KaryaKarsa founder Ario Tamat discusses the company's path to creating a viable self-serve online publishing platform, one of the first to enable significant monetization opportunities for Indonesia's writers, and creators of other sorts of media; from audio to video to comics to photographs. A talented musician himself, Ario and cofounders Pribadi Prananta and the late Aria Rajasa asked: "Why not create a platform where fans could give money directly to their favorite creators in return for them continuing to create their favorite work?" The business indeed seems to have found successful product-market fit selling weekly serialized stories. "We have 240,000 creators. Some 50% of them are writers and our current user base is 1.8 million registered users". An EBITDA-positive business, the company intends to add further categories and functionality to perpetuate its nearly 2X growth year-on-year.
Tue, 28 Nov 2023 - 129 - Still Plenty of Fish in the SEA and Around the World: Gibran Huzaifah
Gibran Huzaifah returns for the first time since his last appearance on the Indo Tekno podcast three and a half years ago to offer updates on the eFishery business and answer big picture questions on topics such as personal development, leadership and the nature of entrepreneurship in Indonesia. eFishery has grown meteorically, from serving 7,000 fish farmers as of our last episode in August, 2020, to more than 200,000 farmers today. Gibran recounts organizational growing pains centered around unforeseen headcount and leadership expansion. Gibran also details the company's growing profusion of financial services (many offered through third party partners). These services are all powered by eFishery's big data-enabled credit scoring capabilities. eFishery is "the largest aquaculture technology company globally right now," he states. Gibran also walks listeners through eFishery's entry into the Indian market, and discusses his motivations to export to the competitive US market.
Tue, 21 Nov 2023 - 128 - Remedying Indo's Broken Credit Analysis Using AI: Wildiyanto Yawin of Finskor
"An entrepreneur must start from empathy for those people that feel the problem," shared Wildiyanto Yawin, cofounder of SME credit analytics platform Finskor, "and by that motivation they bring impact and help others by solving the problem. " Finskor is an AI company providing SaaS to automate and digitize the credit analytics process for Indonesia's SME's. With IDR600 trillion in credit needs that cannot be served by traditional banks, Finskor labors intensively to build enough trust to onboard these banks, many of which are intensely risk averse and are (understandably) concerned over data security. The company leverages AI to replace the error-prone manual process of reviewing hundreds of pages of an SME's financial statements, which serves to reduce fraud and create much more reliable inputs for credit scoring. Yawin views Finskor's longer term success in advancing AI to compensate for Indonesia's notoriously fractured and "noisy" financial data sources.
Tue, 14 Nov 2023 - 127 - Indonesia's High-Value Users & its Underserved: Sapna Chadha of Google & Florian Hoppe of Bain & Company
Indonesia's high-value users (HVU's) "spend almost 7x more than the average digital consumer in the country" states Sapna Chadha, VP for SEA and South Asia at Google. While addressing the needs of the "HVU" will remain critical, "almost twice the opportunity is with that of non-high value users," she added. "Three quarters of non-high value users say that they would engage if their barriers were addressed." Sapna and fellow guest Florian Hoppe, Partner and Head of Vector in Asia-Pacific, Bain & Company, envision innovations in areas such as logistics and new online shopping functionality unlocking much of this growth potential. Our two guests join the Indo Tekno podcast to address the newly released 8th edition of the e-Conomy SEA report, titled "Reaching new heights: navigating the path to profitable growth". Florian additionally proposes a path to a resumption in Indo tech IPO's, one in which increasingly realistic entry valuations, and improving monetisation models, unlock a record USD16b in dry powder as of YE 2022. The team expects Indonesia's digital economy growth to reaccelerate from 8% YoY this year to a 15% CAGR, reaching ~$110B by 2025.
Tue, 07 Nov 2023 - 126 - Confronting Indo's Mother & Baby Problems, Holistically: Carina Lukito of Little Joy
Having come from a family background in budget hotels, Carina Lukito began as a serial entrepreneur in the consumer goods & services space. Instances of malnutrition amongst her nieces specifically propelled her to cofound Little Joy, which is Indonesia’s fastest-growing Mom and Baby brand for "the first 1,000 days of a child." Nearly 1 of 3 babies is malnourished, and there is still a ~50% child mortality rate under one year old. Stunting moreover among Indonesia's children remains high. The platform is comprised of four components: Joyi World, MomsJoy, Dapur Little Joy and LittleJoyEdu, all designed to meet the holistic needs of Indonesia's 15m babies and 24m pregnant & lactating mothers. Little Joy leverages big data to do everything from optimizing baby food formulations to customizing advice for expectant and new moms. While Little Joy seeks to trump Indonesia's longstanding brands by addressing the unique needs of the latest generation of mothers, "ensuring the efficient and timely distribution of our product to every corner of the country" remains the company's most complex endeavor.
Mon, 30 Oct 2023 - 125 - Financial Markets Expectations & Outlook: Andy Tai of Goldman Sachs
Goldman Sachs Head of SE Asia investment banking Andy Tai returns to the Indo Tekno podcast to summarize how global financial markets currently view Indonesia's tech sector. With investor enthusiasm having waned across much of tech and emerging markets over the past few years, Andy specifically reflects on the unprecedented scrutiny placed on incremental marketing spend by Indonesia's leading tech start-ups - emblematic of growing insistence on profitability over growth-at-all-costs. He also specifically calls out Agritech as a sector of particular interest amongst Indo tech-focused investors, and growing expectations around ESG (environmental social and governance) from institutional investors as companies begin to round the bend to IPO. Andy also revisits his previous views on the importance of best-in-class corporate governance for Indonesian start-ups, and urges founders not to underestimate the enormity of IPO preparation.
Tue, 24 Oct 2023 - 124 - The True Potential of Rural Digitalization: Ryan Manafe of DaganganRyan Manafe joins the Indo Tekno podcast to discuss both the difficulties and long-term rewards of staying true to rural e-commerce. While many of Indonesia's "warungtech" platforms claim to focus on enabling commerce in Tiers 3 & 4, many invariably retreat to urban markets such as Jakarta and Surabaya, given higher population density, consumer tech savviness and digital connectivity. Dagangan, which Ryan cofounded 4.5 years ago, maintains a disciplined focus on Indonesia's rural markets, home to 87% of the country's population and 75% of its household spending. Seeing far less competition in these regions, Dagangan leverages a "hub-and-spoke" architecture to access a larger profit pool compared to Indonesia's hyper-competitive Tier 1 markets. Ryan devotes a significant part of our discussion to the importance of meditation and mindfulness in navigating through today's challenges such as fund-raising and shifting competitive terrain.Tue, 01 Aug 2023
- 123 - Why So Serious? Leigh McKiernon of Korn Ferry
“My articles (come) from a place of affection and empathy towards Indonesia”, says Leigh McKiernon, a leading headhunter in Indonesia. Leigh has cultivated a loyal social media following with his witty commentary on the big money, big personalities and big excesses that have resulted from Indonesia’s uninterrupted run in the tech space for the past decade.
Leigh in one article humorously summarises an entirely fictionalised “Aplikaskars” awards event which he describes as “a glamorous event put on by the Indonesian tech startup community celebrating the industry’s successes and failures.” Leigh seeks to “explore the limits of the absurd” in other humorous articles such as “Forbes 30 Under 30: A Mirage of Meritocracy” and “The False Modesty Olympics: When Being ‘Humbled’ Turns into a Competitive Spectacle.” All of Leigh’s work carries more than just a kernel of truth about the excesses of the industry.
One of Leigh’s most active focuses in executive recruitment and consulting is cultivating high retention corporate cultures amongst Indo’s leading tech companies. “Naturally when you double in size over a three month or a six month period, it's going to pose challenge for even the most experienced leaders.”Tue, 30 May 2023 - 122 - MSME Credit Scoring - All About Data, Data, Data: Christian Limawan of AIForesee
Christian Limawan joins the Indo Tekno podcast to discuss the mission criticality of sourcing truly relevant data, in order to properly serve Indonesia's tens of millions of underbanked MSME's. Unlike most emerging names in Indonesia's credit scoring space which analyze individual consumer credit worthiness, AIForesee has an exclusive B2B focus on the "productive segment" of enterprise, assisting financial institutions to improve lending to the country's MSME's. Christian reflects on the importance of being part of a broader fintech ecosystem to AIForesee's successful credit scoring, from the ease of new client referral and participation in broader "full-service" solutions with fellow group companies, to improved access to alternative data. AIForesee is a member of the Investree ecosystem, and partners closely with other group companies such as E-Procurement platform Mbiz and MSME aggregator Sahabat Bisnis; as well as other external data partners.
Tue, 23 May 2023 - 121 - From Cypto to AI & Everything in Between: Pang Xue Kai of Untukmu.AI
Former CEO of leading Indonesian digital asset exchange Tokocrypto, Pang Xue Kai, joins the Indo Tekno program to discuss his latest venture, Untukmu.AI, which involves the application of artificial intelligence to online gift-giving in Indonesia. Synthesizing disparate elements such as a recipient's preferences, budget considerations, the specific occasion and numerous other factors; Untukmu.AI seeks to vastly improve discovery in the on-line purchasing process. A native Singaporean, Xue Kai describes the genesis of Tokocypto as an attempt to address "great market inefficiencies" in the digital currency space. He also discusses the patchwork of talents that he and cofounders Estelle Van Der Linden, Oceane Alagia and Cory Pang bring together in the critical process of "ideation".
Tue, 16 May 2023 - 120 - Enabling Merchant Success Beyond the Marketplaces: Gery Nugraha of SnapLink
While Indonesia's leading e-commerce platforms have evolved massively over the past decade, many of the country's online merchants complain of the exorbitant fees they must pay the marketplaces, and the fact that they have little visibility into the customer buying from their storefront. Gery Nugraha and fellow cofounders Albert Theodore and Faza Fahleraz, all recent grads of ITB, offer "Checkout-as-a-Service", whereby their start-up SnapLink (formerly Payable) allows merchants to operate with full e-commerce capabilities on platforms such as Instagram and WhatsApp. SnapLink is a turnkey solution which allows the small merchant to record new orders, calculate postage, receive payments, enable delivery and offer various other services. The seller can reestablish a direct relationship with the buyer and can avoid heavy commissions, platform fees & advertising expense.
Tue, 09 May 2023 - 119 - Coming DOOgether Around Digital Fitness: Fauzan Gani of DOOgether
With only 2.1% of the country's students deemed of “very active” physical fitness levels, seeking a digital means of improving access to wellbeing has achieved paramount importance in Indonesia. Fauzan Gani joins the Indo Tekno podcast to discuss his start-up DOOgether's integrated solutions for physical fitness, mental wellbeing and nutrition. Fauzan addresses how DOOgether has begun to differentiate its offering across Indonesia's Tiers 1, 2 and 3 markets. DOOfit is the company’s “Classpass-like” marketplace for 3rd party wellness and fitness studios, while DOOspace is a turnkey operator of fitness spaces for interested housing complexes, buildings and other open spaces. The two categories have take rates between 10-20%, although DOOgether sees significant additional revenue opportunity for ancillary services in its B2B business.
Tue, 02 May 2023 - 118 - A Chat aBot Indo AI: Irzan Raditya of Kata.ai
Founder Irzan Raditya joins the Indo Teknopodcast to address the profound deepening in functionality that the application of artificial intelligence (AI) has enabled to his earlier SMS-based digital assistant start-up YesBoss, in its 8+ year evolution into what is today Indonesia's leading chatbot platform, Kata.ai. With more than 170 paying enterprise customers, Kata.ai overlays generative AI to enhance Indonesia's near-ubiquitous use of "chat commerce" over platforms such as WhatsApp. Irzan traces the genesis of his career as a prolific serial entrepreneur to the age of eight, when he made a good business out of drawing caricatures for his classmates. Irzan also offers insightful suggestions around safeguards to any potential abuse of AI in the future.
Tue, 25 Apr 2023 - 117 - Indo's Insurance Market Tipping Point: Giacomo Ficari of LifePal
Indonesia is the fastest growing insurance market in the world. Giacomo Ficari joins us to discuss how his start-up LifePal seeks to remove many of the frictions and the inefficiencies associated with the traditional agent-driven approach, to apply more of a direct-to-consumer model for Indo customers. A member of the Lazada "diaspora", Giacomo discusses his journey from banking in London to various entrepreneurial roles in Southeast Asia, striking a complementarity with his three fellow cofounders at LifePal, and how the company is now reimagining the insurance journey around massive verticals such as automobiles.
Tue, 18 Apr 2023 - 116 - EV motorbikes at EVery street corner: James Chan of ION Mobility
In the wake of the Indonesian government's announcement several days back that it would allocate 7 trillion rupiah (or $455.88 million) to subsidise electric motorcycle sales through 2024, we welcome onto the Indo Tekno Podcast James Chan, founder of ION Mobility, a company dedicated to "affordable, desirable, and sustainable mobility for everyone." The current share of "EV two wheelers" in new motorcycle sales in Indonesia remains below 1%. James believes that EV penetration of new sales could climb to north of 30% within five years, behind the ever-improving price and performance attributes of EV motorbikes such as ION's M1-S model, government incentives mentioned above, and clear shifts in consumer preferences. An accomplished entrepreneur and investor, James reflects candidly on the most formidable challenges that he has faced in growing ION through the COVID period to its leadership in EV motorbikes.
Tue, 11 Apr 2023 - 115 - Heavy-lifting in Indo B2B e-commerce: Wynn Nathaniel of Proglix
The global B2B (business-to-business) eCommerce market was valued at US$17.9 trillion in 2021. That is over 5 times that of the consumer-oriented B2C market. Wynn Nathaniel joins the Indo Tekno podcast to describe what his start-up, Proglix, is doing to digitize and streamline Indonesia's massive trade in raw materials such as steel and industrial goods such as electrical supplies. Joining us from his temporary base in the San Francisco Bay Area, Wynn and the Proglix team are in the Jan-Apr 2023 Y Combinator cohort, which he describes as a fantastic networking knowledge-building opportunity. Wynn also outlines ambitious 2024 growth goals, which the Proglix team is confident in meeting as it expands and simplifies raw materials procurement to Indonesia's smaller and medium-size enterprise.
Tue, 04 Apr 2023 - 114 - More Flexible Funding for Fintechs: Camille Krejci of 21yield
At a time when the overall funding outlook for start-up's in Indonesia has grown increasingly inclement, Camille Krejci joins the Indo Tekno Podcast to outline the novel ways in which his new fund, 21yield, extends loan agreements to fintechs in emerging markets more flexibly to help them grow their loan portfolio. Fintech remains the most crowded category in Indonesia, while the proper tools to raise funds and lend onward for these start-up's remain scarce and ill-suited. Camille views the biggest deficiencies in debt lending to fintechs being most funds' inability to lend in the early stages, their long turnaround times, and generally pretty exacting requirements around runway. 21yield seeks to address these pain points through an approach more uniquely suited to these online lending businesses, supported by the application of deeper leveraging of data.
Mon, 27 Feb 2023 - 113 - Neighborhood Commerce Reimagined: Marshall Silver of DekatKita
Indonesia boasts 25m neighborhood businesses, which represent an estimated 40% (US$450b) of the country's GDP. As part of our inaugural episode of 2023, Marshall Silver joins the Indo Tekno podcast to describe how his start-up DekatKita (meaning "near us" in Indonesian) is addressing growing discontent amongst local mom & pop stores, predominately in the food & beverage segment, with the high fees (20-30%) and disappearing subsidies of incumbent platforms such as Grab & GoTo. DekatKita has built an online storefront used by over 5,000 neighborhood merchants to promote and operate their businesses. After seeing some businesses boost sales exponentially using DekatKita Store, the company is now launching a marketplace for shoppers, to find and order from the neighborhood merchants offering the best product and customer experience—the “hidden gems” around them. An advocate of the tireless pursuit of product-market fit, Marshall describes how refinement of DekatKita functionality has helped them persuade over 20% of pilot merchants to upgrade from a free Store to a paid service.
Tue, 31 Jan 2023 - 112 - Less Back-Slapping, More Profit-Making: Martyn Terpilowski of BVT
Martyn Terpilowski joins us for the final Indo Tekno episode of 2022. The Founder of Bhumi Varta Technology, Martyn discusses the challenges of building a leading start-up in the deep tech space in Indonesia, and sees wins with major accounts such as Astro as testament to BVT's strengths in digital mapping and other "less sexy" enterprise-oriented technologies. Martyn takes exception with what he perceives as having been a prevailing culture of "back-slapping" within the tech and VC world in Indonesia and Southeast Asia. This very insular world, as he sees it, has failed to question an unhealthy fixation on "growth-at-all-costs" amongst even the highest profile of start-ups. In today's more treacherous global macro environment, Martyn is concerned that we could see an implosion across Southeast Asia's tech world on par with the "dotcom bust" at the turn of the millennium.
Sat, 31 Dec 2022 - 111 - Big Data Enhancing the Creator Economy: Raymond Au of TipTip
Raymond Au, the Chief Data Officer of TipTip, joins the Indo Tekno podcast to describe how big data has proved critical in opening up new venues of monetization for the creator economy, which earns over $104 billion dollars globally. TipTip is a recently funded monetization platform for content creators across Southeast Asia. Working with those generating content on YouTube, Instagram and TikTok, posting on e-commerce platforms, and publishing work through e-books and other channels; TipTip represents a new breed of big data champions in Indonesia. It offers detailed analysis to generate additional income for content creators, "combining tactics and techniques...to build a brand" for aspiring influencers. Given the challenging macro environment, Raymond predicts that in 2023 "personal development will be the number one market for creators," likely followed by health and entertainment.
Tue, 20 Dec 2022 - 110 - The Tricky Tech-Media Relationship: Kristie Neo of DealStreetAsia
Kristie Neo, the Editor for Venture Capital coverage at DealStreetAsia, joins the Indo Tekno podcast to reflect on the highs-and-lows of an already storied career covering the tech sector in Indonesia and Southeast Asia. She describes as one of her proudest moments her widely profiled investigative exposé in which Kristie challenged a number of questionable assertions made by self-proclaimed unicorn, Filipino property developer Revolution Precrafted. Kristie laments the often contentious relationship between the media and the tech world. She for instance reflects on the turbulence generated from her recent coverage of the potential "down-round" of a Singapore-based software company, which led to a series of testy exchanges over social media. Kristie is excited with the emergence of the carbon credit market in Indo. Although she is worried that Indonesia's 2024 elections could jeopardize the country's strong support of the tech sector, she adds "I think the Indonesian ecosystem can only grow much bigger and better."
Tue, 13 Dec 2022 - 109 - Translating Filipino Fintech Excellence to Indo: Mikko Perez & Adrian Lorenzo of Ayannah
Mikko Perez and Adrian Lorenzo of Ayannah tell the story of the company's journey as a non-Indo start up setting up in Indonesia during the pandemic, and its strong growth trajectory in spite of the lockdowns and the current economic slowdown. Ayannah’s digital “Lending as a Service” platform processes close to USD2m (IDR 30 billion) a month in loans while maintaining a 100% collection rate by partnering with cooperatives serving blue collar workers and MSME (warung/toko) entrepreneurs. They also describe a “three layer wedding cake” business model that is enabling financial institutions and consumer brands to reach millions of underserved MSME entrepreneurs in Indonesia and the Philippines at scale via digital and hyperlocal channels.
Tue, 06 Dec 2022 - 108 - The "Optics" of D2C: Rama Suparta & Andrew Kandolha of SATURDAYS
Rama Suparta and Andrew Kandolha, cofounders of SATURDAYS, discuss Indonesia's leading Direct-to-Consumer (D2C) lifestyle eyewear brand. SATURDAYS has created its own streamlined supply chain in order to remove the massive middleman costs that the traditional industry is built upon. The company has pursued an "omnichannel strategy", with offline stores (famous also for their baristas), a website, mobile app and home try-on service, all fully integrated around the customer. The duo also addresses the success they have achieved in weaving social media influencers into SATURDAYS' marketing strategy. Enhancing further "all aspects of human resources and improving store productivity" are the company's current goals going into 2023.
Tue, 22 Nov 2022 - 107 - Defusing a Climate Bomb: Louis Potok of Recoolit
Air conditioning (AC) emissions cause 13% of climate change globally. Indonesia, given its combination of strong economic growth and hot climate, is a massive emitter of freon and other global warming gases. Louis Potok, Founder of Recoolit, has built a technology-driven platform to enable the sale of high-quality carbon credits from refrigerant destruction. The solution engages with AC techs on the front lines and pays them to recover gas before they would otherwise scrap old units and vent the gas straight into the air. Recoolit has developed software to coordinate logistics to destroy the gas to international standards. The platform then sells voluntary carbon credits to global buyers. "We'd like to be about 10 x what we did in 2022" in 2023, on a longer term journey to prevent 1 billion tons CO2e by 2030.
Tue, 15 Nov 2022 - 106 - Simplifying Banking & Payment Services: Jakob Rost of Ayoconnect
Jakob Rost joins the Indo Tekno podcast to discuss Ayoconnect's aggressive evolution from an initial focus on payments aggregation toward a more elemental Open Finance platform. A company he founded in early-2016, Ayoconnect is modelled around the premise that “every company will be a fintech company”. It offers broad fullstack solutions to any financial institution or tech company seeking to enter online banking and payments services quickly and comprehensively. Jakob also shares the backstory of world-renowned hedge fund/PE Tiger Global's investment in Ayoconnect's early-2022 fund-raise, marking one of Tiger's earliest ever investment rounds in Southeast Asia.
Fri, 04 Nov 2022 - 105 - The Silver Lining: Stephanie Davis of Google, Wai Hoong Fock of Temasek & Florian Hoppe of Bain
The three lead authors of the annual e-Conomy SEA report return to the Indo Tekno podcast to share further color on this seminal report on the state of the Southeast Asian digital economy. Stephanie Davis of Google shares deep analysis around the nature of slowing digital adoption growth in 2022, describing the massive shift amongst the region's tech platforms from "acquisition to deeper engagement as a business model." Wai Hoong Fock from Temasek meanwhile reviews several mixed trends in public and private valuations, noting all the while a continued rise of interest in the region amongst investors, which is no better revealed than by the sharp growth in the number of single family investment offices based in Singapore from 400 in 2020, to 700 in 2021. Florian Hoppe of Bain & Companysummarizes conversations with a wide swath of the firm's tech clients, noting surprise by how well Southeast Asia has held up. Compared to what his global colleagues are seeing, Florian posits that Southeast Asia "appears to be relatively far away from a real recession."
Wed, 02 Nov 2022 - 104 - The XYZ's of Indo Climate Tech: Jonathan Davy of Ecoxyztem
Climate Tech investment set a record half globally in 2022 1H, with $26.8B in venture funding across roughly 970 deals. However, less than 2% of start-ups in Asia are climate-oriented, while the global average is 15%. Jonathan Davy of Ecoxyztem joins the Indo Tekno Podcast to discuss the criticality of Ecoxyztem's unique turnkey venture builder model to address Indonesia's under-developed Climate Tech sector, and the broader opportunity that his incubatees have across the developing world. Jonathan also offers examples of the platform's 360-degree support of portfolio companies such waste4change, Enertec and ReservoAir.
Tue, 25 Oct 2022 - 103 - ESG & Tech?...Absolutely! Lauren Blasco of AC Ventures
Environmental, Social, and Governance (ESG) standards within tech are rapidly evolving from a "nice-to-have" to a "need-to-have". Fellow AC Ventures colleague Lauren Blasco, who leads the fund's ESG efforts, shares findings from a first-of-its-kind report co-authored with BCG which sets the first quantifiable ESG standards for Indonesia’s tech sector. Lauren views "risk mitigation, streamlining operations and identifying opportunities" as common benefits that tech start-up's cite in adopting ESG guidelines. Such actions may not be optional going forward: a growing number of VC fund LP's require ESG adherence across a fund's portfolio. Moreover, the EU is close to mandating that all large companies disclose around ESG-related issues. The US SEC meanwhile is likely to require that all listed companies, tech & non-tech alike, address ESG in their filings.
Tue, 18 Oct 2022 - 102 - Financing: Indo's Higher Education Bottleneck with Naga Tan of ErudiFi
Naga Tan, Co-Founder & CEO of ErudiFi, joins Indo Tekno to discuss solutions to Indonesia's extraordinarily depressed tertiary enrolment rates (~36%), one of the lowest in the region (eg: Thailand 60%, Singapore 90%). ErudiFi leverages alternative data to extend education financing in markets such as Indo and the Philippines (collective TAM of USD5b), in order to help increase enrolment and accelerate industry growth. Cash/informal loans often carry high interest rates while school internal instalment plans are limited. ErudiFi offers 0%-1.5% monthly interest rates, usually grants approvals within a day, and offers students a more generous tenor of 6-24 months. The platform seeks to fund over 300,000 Indonesian students by 2024.
Tue, 11 Oct 2022 - 101 - Technology to Lift the "Pemulung" to "Pelestari": Hamish Daud of Octopus
Indonesia generates approximately 6.8 million tons of plastic waste every year, according to the Indonesia National Plastic Action Partnership (or NPAP). Shockingly, almost none of this waste has been sorted in the past. Indonesian actor and presenter Hamish Daud joins the Indo Tekno Podcast to discuss his efforts to apply data analysis and entirely new practices in order to address Indonesia's deficient waste collection and recycling practices. Octopus, a start-up he cofounded with partner Moehammad Ichsan, seeks to create an efficient reverse logistics service for Indonesia's packaging industries. The platform enables granular tracking of "Postconsumer Material" (PCM), offering valuable data services to FMCG clients such as Danone and P&G.
Tue, 04 Oct 2022 - 100 - A Dose of Payments Positivity: Vincent Iswara of DANA
Vincent Iswara, CEO and Cofounder of Indonesian payments platform DANA, discusses an encouraging cooling in competition in the space amidst recent pressures in the global financial markets. He also sounded an optimistic tone around prospects for industry profitability going forward. DANA payment volumes in 1H 2022 alone surpassed the company's full-year 2021 volumes. Vince also offers a compare-and-contrast between China and Indo's payments players. DANA boasts several strategic investors on its "cap table" such as new investors Lazada Group and Sinarmas. DANA has taken an "open platform" approach as a payments provider, offering its capabilities to any major third party e-commerce or other commercial platforms requiring a payments solution. This strategy stands in contrast to "captive" payments solutions which serve largely one single individual e-commerce, ride-sharing or other large platform.
Thu, 29 Sep 2022 - 99 - Beef Rendang...Reimagined: Helga Tjahjadi of Green Rebel
Helga Tjahjadi, the Cofounder and and CEO of food Indonesian tech start-up making plant-based beef and chicken Green Rebel Foods, joins us to discuss how the country is optimally placed to see strong secular growth in the ongoing shift to alternative proteins. Helga discusses what it takes to build an entirely new consumer brand in 2022, one specifically embracing Indonesia and Asian roots. In addition to profiling several of Green Rebel's indigenous technological innovations such as "texturization" and "Rebel Emulsion", Helga also discusses Green Rebel's unique supply chain, expansion plans and goal to achieve price-parity with traditional proteins.
Wed, 21 Sep 2022 - 98 - Tech & Politics - A Complex Relationship: Farina Situmorang of Pensieve
Pensieve Founder Farina Situmorang traces her deep interest in the application of advanced technology to politics and government to her fervour in supporting Barack Obama's campaign for the White House when she was studying in the US. Widely known as one of the architects of the successful digital campaign popularly known as “The Jokowi Effect”, Farina founded Pensieve in order to harness artificial intelligence (AI) and deep learning to assist governments in emerging markets with digital transformation. Farina also shares views around both the good and the harm that large digital platforms such as Facebook and Twitter have had in political discourse, both in Indonesia and globally.
Tue, 13 Sep 2022 - 97 - From Engineer to Founder: Ans Syuhada of Delegasi
Ans Syuhada, Cofounder and Tech Lead of SME accounting solutions platform Delegasi, walks us through a career built around software engineering, from his early days when Ans' and cofounder Okki Pratama's alma mater ITB began offering instruction in product management, to some 6.5 years running engineering and platform & data at leading aquaculture platform eFishery. A Y-Combinator Summer 2022 participant, Delegasi seeks to vastly simplify the accounting challenges of the small business owner, starting with Indonesia's restaurant segment.
Tue, 23 Aug 2022 - 96 - The Big Picture: Gojek Cofounder Kevin Aluwi
Gojek Cofounder Kevin Aluwi returns to the Indo Tekno podcast in a wide ranging discussion of his personal management philosophy, work-life balance, innovation in Web3 & crypto, and investing in a successful marital partnership when both spouses maintain start-up leadership roles. Kevin specifically addresses his belief in “saying no to great ideas” and the importance of a company “proactively paying its debts”. Having recently wrapped up his role at the successfully merged GoTo, Kevin reflects on the continuing importance of weaving the subtler differences between the two companies in areas such as culture, management principles and even compensation schemes, once the post-merger "heavy lifting" has finished.
Fri, 19 Aug 2022 - 95 - Do You Really Know Your Customer? Timothy Astandu of Populix
Timothy Astandu, CEO and Co-Founder at consumer insights platform Populix, offers an entertaining retelling of the company's origin story, before detailing Populix's attempts to deliver far deeper and more detailed consumer insights compared to the inefficient and problematic offline alternatives that have heretofore prevailed in Indonesia. Measuring "brand health and consumer behavior" are the two most urgent use cases; which moreover span all conceivable industries; from education to diversified conglomerates to automotive to FMCG and beyond. Timothy also discusses how AI has both measurably improved the broader consumer insights space, and specifically allowed Populix to roll out entirely new insights and functionality in this USD80b global market.
Tue, 09 Aug 2022 - 94 - Liberating Auto Dealers of Working Capital Constraints: Pandu Adi Laras of broom.id
Pandu Adi Laras joins the Indo Tekno podcast to discuss age-old working capital challenges amongst Indonesia's ~50,000 SME used auto dealers, and what his start-up broom.id is doing to improve liquidity in the industry through easy access to capital using inventory as collateral. Indonesia’s used car market currently boasts $65B in yearly transaction value. broom.id's digitized solution offers quick approvals for short term working capital, addressing the industry's near-complete absence of data and lack of access to the incumbent banking industry.
Tue, 02 Aug 2022 - 93 - The Tier 2 & 3 Social Commerce Opportunity: Prateek Chaturvedi of KitaBeli
Prateek Chaturvedi, Founder and CEO of KitaBeli, joins the Indo Tekno podcast to deliver an extremely comprehensible tutorial on social commerce in Indonesia, both in terms of its similarities with neighbors China and India, and how it is evolving in turn quite separately from other markets. KitaBeli has eschewed Tier 1 markets such as Jakarta, instead choosing to fashion its offering around the unique needs of Indonesia's Tier 2 and 3 markets, where the platform successfully addresses both significantly lower levels of familiarity with e-commerce, unique consumer demands and lower levels of trust than their urban counterparts.
Tue, 26 Jul 2022 - 92 - The Arisan Renewed and Reimagined: Ardelia Apti of Mapan
PT Ruma's founding in 2009 marks one of Indonesia's first and most sustained initiatives to digitize the country's unbanked and underserved. Its Mapan platform offers fintech services through Indonesia's unique decades-old arisan, enabling local groups of women to come together and empower each other financially. Mapan CEO Ardelia Apti joins the Indo Tekno podcast to detail the specific workings of Mapan in spreading financial literacy, encouraging healthier fiscal behaviors with the woman of the household, and improving her access to affordable products and services.
Tue, 19 Jul 2022 - 91 - When Equity is Too Precious: Percy Hung & Brian Tsang of Choco Up
Revenue-based Finance (RBF) is a form of financing which already has an established track record in the West, but is only now enjoying broader adoption in markets such as Indonesia. Choco Up is a first mover in the category in Asia, targeting ASEAN's USD300b business funding gap. Choco Up cofounders Percy Hung and Brian Tsang explain that RBF does not require any of the dilution of equity raising, or the complications of traditional bank borrowing, and thus has become an increasingly popular means of raising funds quickly. Such an arrangement, requiring API access to the entrepreneur's business, is useful in the age of mega-sales events such as Singles Day and 12-12), when sellers need significant capital quickly in order to build inventory, etc. RBF generally entails an agreement that the merchant or tech founder covers a one-time fee, and subsequently pays back (daily, weekly, monthly, per transaction, etc) through a revenue share.
Tue, 12 Jul 2022 - 90 - Seamlessness for the Online Entrepreneur: Mulyono Xu of Desty
A 7.5 year veteran of the Alibaba ecosystem, Desty Cofounder & CEO Mulyono Xu lays out many of the challenges that Indonesian online merchants face trying to operate across countless incompatible systems. Desty seeks to collapse the host of largely unconnected e-commerce marketplaces, payment systems and logistics providers into one dashboard in order to minimize complexity for Indonesia's online sellers. Mulyono shares fascinating insights across topics ranging from his early days building a career in Asia's heart of eCommerce - Hangzhou; to the singular importance of striking product-market fit early on at a start-up.
Tue, 05 Jul 2022 - 89 - Grinding Toward Consumer Loyalty: Vico Lomar of Fore Coffee
Technology-based coffee chain Fore Coffee needs to "build trust" continuously with Indonesian consumers, according to CEO Vico Lomar. "Whoever builds that consistency for the people of Indonesia and Southeast Asia" will dominate the otherwise competitive landscape for coffee drinkers. A veteran of the F&B industry since the early-2000's, Vico describes the turn-around that he and the leadership team at Fore have been orchestrating since his arrival two years ago. The world's 40th heaviest consumer of caffeinated beverages, Vico expects the Indonesian coffee drinker to enter the top 15 or 20 over the next several years, thus driving robust consumption growth in the sector over the longer term.
Tue, 28 Jun 2022 - 88 - From Spoke-to-Hub: Reynold Wijaya of Modalku
Reynold Wijaya, Cofounder of regional SME lending leader Funding Societies (Modalku in Indonesia), joins the Indo Tekno podcast to discuss the importance of the 7+ years that the company has spent constantly refining its lending services as part of its game plan to enter into neobanking services for Indonesian and Southeast Asian enterprise. An apparent "spoke" to the broader neobanking "hub", Reynold argues that lending is the far-and-away the most challenging of SME-oriented services to master, and will be key to FS-Modalku's emergence as a leading SME digital financing platform in the region, given that few other claimants to the neobanking crown have expertise in lending. COVID brought exceptional pressures to the financing landscape, leading Modalku to recalibrate its credit policy quickly, and recall loans from enterprise clients who were predicted at significant risk of default. This pruning in borrower profiles has led to material improvements in the quality of its portfolio today.
Tue, 21 Jun 2022 - 87 - The VC-Entrepreneur Continuum: Hiro Kiga of Wallex
Hiro Kiga joins the Indo Tekno podcast to discuss life as a Japanese transplant to Indonesia. He also reflects on the success of fellow JIS high school classmates who have also come to play major roles in the country's tech ecosystem. Much of the episode he devotes to recounting his fateful leap from VC to founder. Hiro earlier in his career worked at the VC arm of Japanese gaming and social media heavyweight GREE. Six and a half years ago he founded Wallex, a leading cross-border banking player. Hiro discusses Wallex's successful merger with Singapore-based M-DAQ, and also addresses the importance of a proactive strategy with the regulator in winning and, just as importantly, maintaining financial services licenses.
Tue, 14 Jun 2022 - 86 - Groceries at the Speed of Now: Vincent Tjendra of ASTRO
ASTRO belongs to one of the fastest growing subsegments of online shopping: eGroceries. Since its founding 9 months ago, the company has built out 50 "hubs" (dark stores), and has grown 10x since early-2022 alone, on nearly 1 million downloads. Company Co-Founder & CEO Vincent Tjendra discusses an Indonesian e-grocery penetration target of 3-4% within 5 years, from 0.5% currently. He also addresses the hazards of over-investment, the path to profitability, the role of promotions, and common misperceptions around competition.
Tue, 07 Jun 2022 - 85 - Battling Burnout: Justin Kim of Ami
Some 9 in 10 workers experience burnout in Southeast Asia according to Justin Kim, the Cofounder and CEO of mental wellness coaching solution Ami. Jakarta moreover is a top 5 city in terms of burnout, a market in which Ami's SaaS-based subscription platform is growing rapidly. Having introduced a personalized online coaching service primarily aimed at Indonesia's tech industry, Ami is at the forefront of confronting taboos around burnout and stress in the workplace. The pandemic has added momentum to Ami's growth, given the loneliness and various other stressors that many employees now experience. Justin also discusses Ami's impressively global list of investors. The company is in fact the very first early stage Asia investment of Facebook parent company Meta.
Tue, 31 May 2022 - 84 - We've Been Here Before: David Halpert of Prince Street Capital"I'm still bullish Indonesia" declares returning podcast guest David Halpert, Founder of Prince Street Capital. A buyer of Amazon at around $8 when it pulled back in the 2000 crisis, David views Indonesia's private and publicly listed technology leaders as built-to-last, and sees longer term buying opportunities emerging amidst the ongoing correction. David is encouraged by recent messaging from the likes of Uber's CEO, demanding a "seismic shift" in thinking toward profitability. He in this vein hopes to see within Indonesia a cessation in hyper-competition amongst players such as GoTo, Grab, Bukalapak and Sea Limited. David also agrees with Y Combinator's recent advice to early stage tech companies to cut their expenses and focus on extending their runways. "Don't talk about TAM", he urges Indo founders. "Don't talk about GMV. Don't even talk about revenue...try talking about profit".Tue, 24 May 2022
- 83 - A Ukrainian's Innovations for the Unbanked: Dayana Yermolayeva of JiPay
Indonesian domestic helpers working for employers overseas represent the single largest group of female salaried workers contributing to Indonesian households. A native of Ukraine, Dayana Yermolayeva is CEO and Cofounder of JiPay. She has created a growing family of services aimed at the 70m domestic workers across the globe who do not have access to financial services. Some 50% are entirely unbanked and 60% are chronically in debt. The Indonesian helper tends to send more than half her income back home, and rarely is able to save. JiPay currently offers a card for helpers to purchase groceries on behalf of their employers helping to build trust in households where helpers work. These helpers can also be paid their salary into a JiPay account, save and remit via the app, thus allowing helpers to manage all basic needs in one place.
Interested in supporting the Ukrainian cause? Consider donating to Dayana's favorite charity:
https://www.instagram.com/kiddo.ua/Tue, 17 May 2022 - 82 - A Fresh Take on SME Lending: Reinier Musters of Nikel
Reinier Musters joins us to review the latest breakthroughs in online SME lending in Indonesia, including critical improvements in credit scoring. Nikel, a company that Reinier founded in early 2019, has championed “embedded lending”, a turnkey solution which promises to empower a wide variety of platforms with a newfound ability to lend to Indonesian SME’s. Citing a fascinating collaboration with leading hotel platform RedDoorz allowing hotel partners to refurbish their properties through revenue-based lending, Reinier also sees e-commerce sites and other marketplaces as offering important use cases of the Nikel solution.
Tue, 10 May 2022 - 81 - Corporate Venturing & "Girl Power": Marlin Siahaan of TMI
In our first episode devoted to the corporate venture capital or CVC segment in Indonesia, the CEO of Telkomsel Mitra Inovasi (TMI), Marlin Siahaan, shares a number of examples of value-add that parentco Telkomsel has created in collaborating with TMI portfolio companies such as Finaccel, Halodoc, Evermos and Sekolah.mu. Marlin details TMI's key investment criteria, and also delves into emerging areas such as agritech, blockchain, and ESG. TMI additionally looks for infrastructure plays including IOT and 5G-focused start-ups that can connect with Telkomsel telco assets. Marlin concludes by offering key learnings and leadership advice for other women seeking to create impact within the tech world.
Wed, 04 May 2022 - 80 - The Tireless Journey Toward Financial Inclusion: William Li of Akulaku
William Li shares with us the genesis of one of Indonesia's largest players in the fintech and e-commerce space, Akulaku. The business originated in early-2014 as HK-based cross-border remittances platform Silvrr E-Commerce. Having borne witness to the rise-and-fall-and-rise-again of China's P2P and broader fintech space, William has combined those learnings, with a keen understanding of legal & regulatory issues, to grow Akulaku's basic consumer financial services toward a full digibank, with a 5-year goal to serve 50m people in 10 countries.
Thu, 21 Apr 2022 - 79 - Crushing the Complexity of Cross-Border: Rifki Pratomo of Andalin
Rifki Pratomo, the Cofounder and CEO of Andalin, joins us this week to discuss the massive inefficiencies that continue to plague the region's multi-trillion dollar cross-border trade. Andalin is a "digital freight forwarder" that is devoted to removing frictions in cross-border B2B commerce. Traditional freight forwarders for instance take on average 101 hours to provide a simple manual spot quote to a customer. Andalin's mandate to digitize and streamline cross-border trade has become even more mission-critical due to the profound dislocations that the COVID pandemic has brought about to global supply chains.
Tue, 19 Apr 2022 - 78 - Fresh & Direct from YC: Andre Septiano of Fresh Factory
Fresh Factory is one of a growing number of Indonesian start-ups to have gained entrance into the highly coveted Y-Combinator program. Fresh from having completed YC's demo day, company Cofounder and CFO Andre Septiano reflects on his key learnings from the program, which included how to achieve product-market fit, and dealing with failure. Andre also addresses the massive opportunity that Fresh Factory's "hyperlocal" approach to supporting cold chain logistics hopes to capture, an opportunity whose growth has accelerated on the tailwinds of the COVID pandemic.
Tue, 12 Apr 2022 - 77 - This Multipreneur's "End Game": Wafa Taftazani of UpBanx
Wafa Taftazani speaks of his path to founding no less than three start-ups within a three year period. Modal Rakyat extends working capital for startups and SMEs, while VCGamers is a gaming & NFT marketplace, and UpBanx is a fintech & marketplace for brands and creators in Indonesia. The three independent companies come together regularly, whether its Modal Rakyat assisting UpBanx customers in securing invoice financing, or VCGamers helping UpBanx brands and influencers launch Web3 digital assets. Consider listening through to the end of our podcast, when Wafa discusses how daily meditation of life's bigger questions has profoundly impacted his entrepreneurial journey.
Tue, 05 Apr 2022 - 76 - Covering the Indo Tech Beat: Fanny Potkin of Reuters
In our first episode of Season 3, leading Southeast tech reporter for Reuters, Fanny Potkin, shares with us a number of fascinating anecdotes from her career covering the tech scene in Indonesia, from interviews of social media "buzzers" who leverage technology to influence election outcomes, to local entrepreneurs' humorous comparisons of Alibaba to a "nagging mother" and Tencent to a "passive father". Fanny's biggest prediction for 2022 is that significant new regulation is on the horizon for Indonesia's tech ecosystem.
Tue, 15 Mar 2022 - 75 - From Big & Stable to Small & Nimble: Alex Rusli of Digiasia Bios
Alex Rusli is Cofounder of Digiasia Bios. The company offers the broadest portfolio of fintech licenses and solutions across Indonesia's start-up scene. Alex is amongst a small minority of start-up founders with previous big tech leadership experience, having served as CEO of telco giant Indosat before going "full-on founder". Our conversation ranges widely, from the challenges of fintech adoption to the benefits of martial arts amidst the demands of start-up life.
(Podcast Website)Tue, 30 Nov 2021 - 74 - The "Roaring 20's": Stephanie Davis of Google, Rohit Sipahimalani of Temasek & Florian Hoppe of Bain
The three lead authors of the annual e-Conomy SEA report join the Indo Tekno podcast to share further color on this seminal report on the state of the Southeast Asian internet economy. Stephanie Davis of Google offers fascinating insights around Indonesia's more aggressive embrace of payments compared to the region, and much higher internet participation from non-metro areas. Rohit Sipahimalani from Temasek delves into drivers behind near all-time high fundraising levels in the region while offering a deeper dive into healthtech, edtech and online investment management segments. Florian Hoppe of Bain discusses factors underpinning the report's significant increases in 2025 forecasts for e-commerce, while discussing candidly what might jeopardize the region's strong growth.
(Transkrip Bahasa Indonesia|Podcast Website)Tue, 16 Nov 2021 - 73 - The eCommerce Aggregator: Jeff Yuwono of Open Labs
Indonesia, an ecommerce market with an estimated 14 million online merchants, will likely grow to about USD80-90b in GMV by 2025. Opportunities thus abound for expert teams to acquire and partner with smaller merchants, in order to drive greater and greater operational efficiencies. Jeff Yuwono, Founder & CEO of "brand aggregator" Open Labs, discusses this massive roll-up opportunity, and how it differs in Indonesia from similar models around the globe.
Tue, 09 Nov 2021 - 72 - Upskilling Indonesia: Rohan Monga of Zenius
Asian Development Bank research suggests that half of Indonesia's workforce of 135m is "underqualified for their jobs". Rohan Monga, CEO of leading online education platform Zenius, sees this skills crisis as being rooted in the K12 education system of 45m students. Zenius is helping drive the transformation of Indonesian pedagogy from rote knowledge-based instruction to a focus on greater critical thinking and scientific knowledge.
Tue, 02 Nov 2021 - 71 - Bonding the Best of Both Worlds: Eddy Chan and Patrick Yip of Intudo
In this episode, we discuss startup "cross pollination" between local entrepreneurs and their sea turtle (or "pulkam") cofounders returning to Indo from overseas work or study. "Indonesia Only" VC firm Intudo Ventures uniquely operates with founding general partners Eddy Chan and Patrick Yip sitting on opposite sides of the earth; one in Silicon Valley and the other in Indonesia. The goal is to encourage in each investee company an amalgam of top-flight overseas-inspired start-up experience, with critical on-the-ground connectivity and expertise.
(Podcast Website)Tue, 26 Oct 2021 - 70 - The Power of Hyperlocal Podcasting: Rado Ardian of Noice
Cofounder of leading podcast platform Noice, Rado Ardian, estimates that the pandemic contributed to 3x growth in listenership in 2020. Noice's 3 top shows are comedy-oriented, an interesting reflection of the market's unique tastes. Intense "hyper-localization" of content will be crucial in driving up to 5x growth next year, as Noice strives to offer unique content to Indonesia's many heterogeneous communities. Rado pointed to Noice's extensive use of local "vernacular" programming as key to accessing listeners through their many languages and dialects.
Tue, 19 Oct 2021 - 69 - Tackling the Data Divide: Barrett Comiskey & Dan Connor of Migo
In Indonesia, the Digital Divide remains a stubborn problem. While Indonesians spend around 6 hrs a day online, sadly "almost half of the adult population is still without internet access," a July World Bank report reveals. Barrett Comiskey and Dan Connor, Migo CEO and Indo Country Lead, respectively, reflect on the company's inroads to connecting all parts of the pyramid to internet content through its increasingly ubiquitous "Warung Migo" solution.
Tue, 12 Oct 2021 - 68 - Solving Blue-Collar Supply & Demand: Siddharth Kumar of MyRobin
COVID-19 has seriously rattled the already inefficient Indonesian blue collar sector, sending unemployment levels to an eight-year high. Leading end-to-end workforce management platform MyRobin targets a 74m large blue collar market which has suffered from monthly churn of 20%. Company cofounder Siddharth Kumar believes that the company has "cracked the code," not by herding workers onto a new purpose-built app, but by meeting them on the social platforms that they already use. MyRobin is thus able to offer a massive "top-of-funnel" of 2.6m candidates to their target employers in logistics, FMCG and other verticals.
(Transkrip Bahasa Indonesia|Podcast Website)Tue, 05 Oct 2021 - 67 - The Importance of Digital Identity: Niki Luhur of VIDA
Cybercrime is predicted to inflict damages totalling $6 trillion globally in 2021. If measured as a country, it would be the world's third largest economy. Niki Luhur, Exec Chairman of VIDA, discusses the profound dangers of failing to implement more robust solutions around digital identity, privacy and cyber security. Niki argues that with emerging market economies digitizing at breakneck speeds, individuals need the ability to control their most valuable information: their data and identity.
Tue, 28 Sep 2021 - 66 - Fresh from the IPO: Teddy Oetomo of Bukalapak
Bukalapak in August became Indonesia's first ever locally listed tech unicorn. Its robust revenue growth in its first reported quarter as a public company offers a compelling alternative narrative to characterizations of destructive hyper-competition across the country's e-commerce industry. Company President Teddy Oetomo points out that tier 2-4 cities, where its "Mitra Bukalapak" service dominates by serving micro and small-sized offline merchants, is actually where a majority of Indonesia's commerce occurs.
Tue, 21 Sep 2021 - 65 - Indo's Got Game! Arief Widhiyasa of Agaté
Indonesia has soared from relative obscurity just a few years ago to represent more than 40% of Southeast Asia's mobile games market by revenues. Its developmental ecosystem however lags far behind. The country has a mere 1,200 games developers (China has 200,000). Founder of the country's largest game studio Agaté, Arief Widhiyasa, profiles many of the company's initiatives to cultivate a more vibrant ecosystem of gaming studios across Indonesia.
Tue, 14 Sep 2021 - 64 - The Online-Offline Path to Health: Shinta Nurfauzia of Lemonilo
With 73% of deaths in Indonesia caused by non-communicable diseases such as stroke, heart disease & diabetes; co-founder of next-generation healthy food company Lemonilo, Shinta Nurfauzia, describes her mission as using technology to make a healthy lifestyle accessible to everyone. Lemonilo often launches a new product exclusively online, crowd-sourcing feedback from its e-commerce customers, and only then subsequently releasing the perfected product to its 200,000 offline points-of-sales all over Indonesia.
(Podcast website|Transkrip Bahasa Indonesia)
Tue, 07 Sep 2021 - 63 - A Growing Instinct to Insure: Harshet Lunani of Qoala
Qoala has played a front-and-center role in modernizing Indonesia's hidebound insurance industry. Company Founder Harshet Lunani however views the role of agents in insurance as remaining key to increasing insurance penetration. Qoala seeks to "Uberise" insurance by removing the tedious complexities of pricing, underwriting and issuance services, and enabling anyone with personal networks to become a modern "agent". Capturing unprecedented digital insights into the customer has allowed Qoala to co-create entirely new families of insurance products with the likes of Traveloka, Tokopedia and others.
(Show website|Transkrip Bahasa Indonesia)Tue, 31 Aug 2021 - 62 - Indo Tech Policy in 2021 and Onward: Ajisatria Suleiman
Expert Ajisatria Suleiman joins our first episode devoted to Indonesia technology policy, to explain how policy is synthesised, where current policy priorities are focused, and what we can expect going forward. Having worked with The World Bank, Kominfo and other major institutions, Aji suggests that the public sector should invest more heavily into its own innovation and digitalization in order to achieve more effective policy collaboration with the private sector. Aji also explores major topics of the day such as Digital Identity, Data Privacy and new eCommerce policy developments.
Tue, 24 Aug 2021 - 61 - Hari-Hari Awal: Ajey Gore of Sequoia Capital
In Part III of our "Hari-Hari Awal" or "Early Days" series, we interview Ajey Gore, Gojek's former Group CTO. Now an Operating Partner at Sequoia Capital, Ajey describes as "largely unplanned" his career progression from his early days in Bangalore to Indonesia's most important engineering leadership position. He instead followed this progression much like "water flows across a floor". Ajey is extremely pleased with how Indonesia's engineering community has evolved since his involvement in the region began many years ago. Not only does it more aggressively embrace new technologies, but the community is now much more "self-organising and self-governing."
Tue, 17 Aug 2021 - 60 - How to Outmanoeuvre a Pandemic: Indra Gunawan of Bobobox
While many players in Indonesia's hospitality industry were paralysed by the 70-90% declines in occupancy that COVID brought about, leading tech-enabled hotel player Bobobox immediately began to deep dive into behavioural shifts amongst its largely Millenial customer base. In addition to acting on obvious insights such as improved cleanliness and hygiene, the Bobobox team also seized on the growing imperative to work remotely, rolling out its wildly successful Bobocabin and Bobovan products. Company CEO Indra Gunawan also addresses topics including competition, the advantages of the capsule hotel model, and the mission-criticality of technology.
Tue, 10 Aug 2021 - 59 - Innovation for Indo's Fragmented Trade: Philipp Stegmann of eyos
Indonesia's long tail "fragmented trade" of mom & pop's, warungs etc. can be 50-80% of sales for big CPG companies like Unilever & P&G. However, reliable insights into the "sell-out" of a product to the ultimate customer are nearly impossible to achieve, given the labyrinthine distribution networks and low levels of digitization at the retail end-points. Philipp Stegmann, founder of eyos, discusses how the company; which is the product of a merger with London-based RetailTech platform yReceipts; delivers actual actionable insights at point-of-sale to prevent inventory stock-out's, enable timely promotions, and otherwise drive significant supply chain efficiencies.
Tue, 03 Aug 2021 - 58 - A Proliferation in Payments: Tessa Wijaya of Xendit
Tessa Wijaya, Cofounder and COO of leading payments firm Xendit, details the dramatic shift in payments use cases during the COVID era, away from the embattled online travel segment; and toward other payments scenarios such as crypto exchanges, gaming and edtech. Indonesia's first graduating start-up from the Y-Combinator program, Xendit continues to integrate with leading BNPL providers, SME book-keeping platforms and a host of other fintech solutions to grow both within Indonesia, and increasingly regionally.
Tue, 27 Jul 2021 - 57 - Venture Debt 101: Chin Chao & Paul Ong of Innoven
Some 18 out of Silicon Valley's 20 largest unicorns have used venture debt in order to reduce shareholding dilution, extend their runway, and accelerate growth with limited cost to the business. Chin Chao and Paul Ong of regional venture debt leader Innoven Capital offer a primer for Indonesian entrepreneurs on this rapidly growing form of fund-raising. Positioned as a "synergistic partner" to their VC counterparts, Innoven commonly connects portfolio companies into the ecosystems of anchor LPs Temasek and UOB.
Tue, 20 Jul 2021 - 56 - The Air You Breathe: Piotr Jakubowski of nafas & aria
Originally formed to address the sad fact that air pollution takes 5+ years off the life of the average Jakarta resident, sister companies nafas & aria have achieved renown in Indonesia's tech community with their pioneering work in air monitoring and purification. Cofounder Piotr Jakubowski and team are now aggressively adding features such as a virus risk index for both enterprise and residential customers, as they grapple with the relentless spread of COVID 19 throughout Indonesia.
Tue, 13 Jul 2021 - 55 - Small Retailer Success: Nipun Mehra of Ula
"At the end of the day, somebody needs to aggregate neighbourhood demand" in order to become the dominant solutions provider to Indonesia's massive small retailer segment, states Ula Founder and CEO Nipun Mehra. Ula is founded on the provocative assumption that "the traditional store actually has a massive advantage over modern retail formats." The successful model will play to these existing strengths, not replace them, in bringing the mom & pop into the modern retail era.
Tue, 06 Jul 2021 - 54 - Indo's Rural e-conomy Momentum: Steven Wongsoredjo of Super
Indonesia has become a crucible for tremendous amounts of experimentation in ecommerce business models. Steven Wongsoredjo, Cofounder and CEO of Super, has combined both the group-buying elements of global category leaders such as China's Pinduoduo, along with several uniquely Indonesian aspects such as agent-based sales. Shirking the "Jabodetabek" focus of most other ecommerce platforms, Super has instead found strong growth in Tiers 2 & 3 and rural markets in the eastern parts of Indonesia. Super estimates this unique social commerce opportunity to be USD200b in size.
Tue, 29 Jun 2021 - 53 - Grab's Grand Design with Country Head Neneng Goenadi
Neneng Goenadi, Country Managing Director for Grab, is one of the Indonesian tech world's most accomplished and charismatic female business leaders. Neneng discusses the company's aggressive expansion into new, lower tier markets and multiple other initiatives to help spur economic recovery from the pandemic. She attributes Grab's leadership in part to having built its own in-house tech in areas such as anti-fraud and mapping, which she believes has nurtured the allegiance of all players to its multi-sided marketplace. Neneng also shares her deep optimism over the widening range of leadership opportunities that the tech world offers aspiring women in Indonesia.
Tue, 22 Jun 2021 - 52 - The Path from 2% to 12%: Brian Marshal & Andreas Thamrin of SIRCLO
China e-commerce GMV totalled a massive RMB11.3 trn in 2020, or 12% of the country’s GDP. Indonesia e-commerce GMV of USD40b meanwhile was less than 2% of GDP, suggesting massive long-term upside on its way to 12% and beyond. Today’s guests, Brian Marshal and Andreas Thamrin, are cofounders of SIRCLO. SIRCLO’s sole purpose is to help small, mid-sized, and enterprise brands to sell online. SIRCLO seeks to help Indonesia's merchants unlock massive efficiencies and growth by mapping them to: a) new ecommerce platforms, b) integrated omni-channel strategies, c) more sophisticated "back-end" technologies and d) unprecedented amounts of big data to drive insights and seller strategies.
Tue, 15 Jun 2021 - 51 - The "Door" to Crypto: Jeth Soetoyo of Pintu
Jeth Soetoyo, Founder of Pintu, joins us to examine the widening application of blockchain and crypto-assets in Indonesia. Jeth cuts through the hype to make an easy-to-grasp and persuasive case for the steady growth of adoption of crypto-assets such as Pintu's own Rupiah Token. He describes Indonesia as very "forward looking" in terms of crypto asset regulation. Jeth sees in blockchain the ability to accelerate Indonesia's transition towards an open financial system and increase financial inclusion for the underbanked.
Tue, 08 Jun 2021 - 50 - The Evolution of VC: Adrian Li of AC Ventures
AC Ventures Founder Adrian Li reflects on some of the dramatic changes that have set in to Indonesia's start-up scene since he began VC investing in 2013, from the significant improvement in founder pedigree to the steady rise of Fintech as his favorite sector. He also opines on where a comparison with China can inform successful venture building in Indo, and where it can mislead. Adrian also discusses how he guides his entrepreneurs in pursuing growth-versus-monetization in SEA's largest market.
Tue, 01 Jun 2021 - 49 - From the Director's Chair: Angga Sasongko of Visinema
Visinema Founder Angga Sasongko is the director of some of Indonesia's most celebrated films, such as "Hari untuk Amanda" and "Filosofi Kopi". Angga reflects on a range of topics, from the necessary balance between technology and the humanities in Indonesia's educational system, to the impact of the smartphone on film & entertainment, to collaboration with leading tech firms such as Gojek in his recent work.
Tue, 25 May 2021 - 48 - Modernizing eCommerce Logistics: Phil Opamuratawongse of Shipper
The Indonesian Logistics Association recently reported that logistics volumes fell 60-70% from before the onset of COVID-19. e-commerce logistics enablers however grew 40%+ in 2020. Leading Indonesian logistics start-up Shipper delivered a stunning 6X growth last year. Shipper Co-founder Phil Opamuratawongse walks listeners through the company's success in onboarding e-commerce merchants to its technology-enabled "first mile" services. He also shares some intensely personal stories of how the pandemic impacted both him and the company at large.
Tue, 18 May 2021 - 47 - SME's Front-and-Center: Pieter Lydian of Facebook
Indonesians spend an astounding nine hours daily on their smartphones. Country Director for Facebook in Indonesia Pieter Lydian joins us to share insights into the 98% of Indonesia's online population that consultant PWC claims interact with its Facebook, Instagram and WhatsApp platforms. He also profiles the company's broad-based push to super-charge the country's warungs and MSME's as they make the digital transition. An impressive 84% of MSME's active on FB report generating revenues from the platform, revealing FB’s criticality to SME’s during COVID.
Tue, 11 May 2021 - 46 - The "Three Zeroes": Tanah Sullivan of Gojek
A stunning 90% of S&P 500 Index companies in the US published sustainability reports in 2019, up from 20% in 2011, according to G&A. Gojek Head of Sustainability Tanah Sullivan summarizes the company's own recently released sustainability report and makes many extremely persuasive arguments why all companies need to articulate increased focus on environmental, social and governance (ESG). Listen in to understand the company's ambitious pursuit of "Three Zeroes" (Zero Emissions, Zero Waste & Zero Barriers) by 2030.
(Transkrip Bahasa Indonesiadi sini)Tue, 04 May 2021 - 45 - Prevailing Against a Pandemic: Amit Saberwal of RedDoorz
By November, 2020, around 550,000 Indonesian hotel employees, or ~78.5% of the entire industry, had been furloughed or laid off, according to PHRI. RedDoorz Founder Amit Saberwal reflects deeply on the importance of decisiveness, a culture of transparency with employees & hotel partners, and steadfastness amidst crisis. These factors emboldened RedDoorz not only to navigate COVID, but moreover expand recently its mission statement; it now seeks to become the largest hospitality company in Southeast Asia.
(Transkrip Bahasa Indonesiadi sini)Tue, 27 Apr 2021 - 44 - The Pulse of Indonesia: Dwi Adriansah of Twitter
According to Hootsuite, 62% of Indonesia is connected to social media. Of this, 64% are on Twitter. Dwi Adriansah, Country Head of Twitter Indonesia, shares with us a range of unique use cases that his compatriots have come up with during the pandemic. Entertainment reigns supreme as the biggest category, and has become ever more popular as users yearn for content during the pandemic. Dwi also outlines the critical role that the platform has served in combatting national challenges, from vaccine disinformation to gender-based violence to even real-time flood warnings.
(Transkrip Bahasa Indonesiadi sini)Tue, 20 Apr 2021 - 43 - Architecting SME Success: Chinmay Chauhan of BukuWarung
Founded at the very beginning of the pandemic, BukuWarung's meteoric rise to serve more than 5m SME merchants suggests that Indonesia's warungs have accelerated their embrace of digital solutions during COVID. Founder Chinmay Chauhan explains how the company plans to grow 10X this year by expanding from current bookkeeping, payments and ecommerce enablement to a growing menu of MSME financial services.
(Transkrip Bahasa Indonesia di sini)Tue, 13 Apr 2021 - 42 - Biotech Innovation in the COVID Era: Levi Sani of Nalagenetics
Levi Sani of Nalagenetics represents a new generation of entrepreneurs seeking to apply innovations to Indonesia's beleaguered healthcare sector. A champion of the rapidly emerging "pharmacogenomics" field (the study of how genes affect a person's response to drugs), Nalagenetics has also leveraged its focus on Southeast Asian populations to roll out a number of critical diagnostic solutions in Indonesia's battle against COVID-19.
(Transkrip Bahasa Indonesiadi sini)Tue, 06 Apr 2021 - 41 - SPAC's Roundtable: Jim Perry & Udhay Furtado of Citi and Abhay Singh of VMAC
In our 3rd instalment on Special Purpose Acquisition Companies, we survey 20 leading Indonesian entrepreneurs for their most pressing questions around this increasingly popular vehicle to public listing. Jim Perry & Udhay Furtado of Citigroup, the world's most prolific underwriter of SPAC's, and Abhay Singh, founder of one of the region's first announced SPAC mergers (VMAC), answer these questions relating to the potential benefits and pitfalls of the SPAC.
(Transkrip Bahasa Indonesiadi sini)Tue, 30 Mar 2021 - 40 - So You Wanna Be A Gamer: Jon Yuwono and Claupaw of Red Bull Rebellion
Roughly half of Indonesians between the ages of 13-30 are “gamers” of some sort. Jonathan Yuwono, GM of Rebellion Esports, along with Team Manager & eSports influencer Claudia “ClauPaw” Theodora, navigate us through the gruelling daily regimen of a top-notch esports athlete. While Indonesia has fared poorly in most major traditional sports, Jonathan sees tremendous opportunity amongst the country's young professional esports athletes. Claupaw meanwhile details the rich world of influencers and online media that support the esports ecosystem.
(Transkrip Bahasa Indonesiadi sini)Tue, 23 Mar 2021 - 39 - The Riches of Renovation: Dimas Priawan of Dekoruma
While the pandemic has turned nearly all aspects of life upside-down, online Home & Living in Indonesia has seen steady and robust growth, explains Dekoruma Founder Dimas Priawan. In its mission to digitize the entire supply chain of Home & Living, Dekoruma grew 3X in 2020. With offline interaction all but impossible; customers, suppliers, contractors and designers have accelerated their move online. Dekoruma's products and services marketplaces allow these parties to collaborate and transact frictionlessly.
(Transkrip Bahasa Indonesiade sini)Tue, 16 Mar 2021 - 38 - The Investor View: David Halpert of Prince Street Capital
Veteran emerging markets fund manager David Halpert, Founder of Prince Street Capital, reflects on his history of deep involvement in Indonesia, including key early investments in national champions such as Gojek. Indonesia is a key component of Prince Street's unique "digital decolonization" strategy, which David describes in detail. He also discusses important tech-related initiatives such as the ongoing attempt to create a fully integrated electric battery/EV manufacturing chain in Indo.
(Transkrip Bahasa Indonesiadi sini)Tue, 09 Mar 2021 - 37 - Worker Financial Health & EWA: Vidit Agrawal of GajiGesa
Indonesia unemployment last year surged to its highest level since 2011. GajiGesa Cofounder Vidit Agrawal discusses the concept of Earned Wage Access, and how employers use the technology to address employee financial stress, which otherwise can drive lost productivity and absenteeism. EWA positively impacts retention and the employee experience, and is proving a valuable tool in teaching financial responsibility to low and middle-income workers.
Tue, 02 Mar 2021 - 36 - Open Banking, Explained: Todd Schweitzer & Mike Dickinson of Brankas
Brankas leads Indonesia's nascent "Open Banking" movement. It seeks to address friction in digital banking, collapse costly layers of middlemen, and change business models on payments, credit scoring and more. Brankas CEO Todd Schweitzer and CPO Mike Dickinson share views on Indonesia's banking and payments systems today, and offer some predictions on the future of Indonesian Open Banking.
(Transkrip Bahasa Indonesiadi sini)Tue, 23 Feb 2021
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