Sinar Mas Land Held DNA VC Startup Connect with Xendit

27 Apr 2024
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BSD City, April 27, 2024 – Indonesia has become one of the top destinations for investors seeking opportunities in the startup sector. Rapid economic growth, expanding internet penetration, and a dynamic startup ecosystem have made this country attractive to investors. According to data from the Indonesian Ministry of Communication and Information Technology, in 2021, Indonesia's startup investment sector ranked highest in Southeast Asia, accounting for 42% of the region's investment.

Through its Digital Hub, Sinar Mas Land is committed to advancing Indonesia's digital startup ecosystem through the Digital Hub Next Action (DNA) movement, embodied in various programs, including the "VC Startup Connect" series. This program, organized by Digital Hub in collaboration with Xendit, a leading Southeast Asian digital payment infrastructure provider, featured events such as offline speed dating, consultation sessions, a fundraising cheat guide, and a startup networking night with over 100 startups and more than 60 venture capitalists (VCs), held on Tuesday, April 23, at The Residence OnFive, Grand Hyatt Hotel, Jakarta.

Digital Hub Next Action (DNA) Movement by Sinar Mas Land through Digital Hub

Muhammad Neil El Himam, Deputy of Digital Economy and Creative Products, Indonesian Ministry of Tourism and Creative Economy, stated, "I am delighted to attend the DNA VC Startup Connect event, an initiative in the digital ecosystem initiated by Sinar Mas Land through Digital Hub. This program is highly positive, bridging innovation and investment to shape a better future for our economy. In recent years, Indonesia's economic growth has been greatly influenced by the dynamic startup ecosystem and rapid expansion of the digital economy. Indonesia holds great potential in developing globally competitive digital businesses. As the government, the Ministry of Tourism and Creative Economy is committed to continuously collaborating and working with all stakeholders, including industry leaders, educational institutions, and startup communities. We believe that synergy in strengthening this ecosystem can further accelerate the growth of the digital economy."

Irawan Harahap, CEO of Digital Tech Ecosystem & Development at Sinar Mas Land, explained, "Developments in the startup world are made possible by the increasing digital opportunity trends in Indonesia. According to data from McKinsey & Company, Indonesia's workforce is projected to contribute $35 billion to the digital technology sector by 2025. Sinar Mas Land, through Digital Hub, is committed to implementing digitalization, particularly in the startup sector, aiming to achieve a GDP of approximately USD 150 billion (a 10% increase) by 2025. Additionally, digital technology also has the potential to create 3.7 million jobs. In line with this, the DNA VC Startup Connect event aims to provide a medium for startups, angel investors, and venture capitalists to interact, expand connections, and open funding opportunities. We hope this event is a starting point for successful collaborations, benefiting all parties and achieving a common goal of accelerating startup growth in Indonesia."

DNA VC Startup Connect is an exclusive speed dating event that brings together startups with leading national and international investors. The aim is to foster collaboration and growth in Indonesia's rapidly developing startup ecosystem. Before the event, participating startups underwent a strict selection and curation process, judged based on various aspects, including innovation, market potential, and business scalability. Selected startups had the opportunity to meet directly with angel investors and venture capital firms like Living Lab Ventures, East Ventures, Alpha JWC Ventures, Gobi Partners, Vertex Ventures SEA and India, Trihill Capital, MDI Ventures, Antler, AC Ventures, Intudo, SMDV, and many other investment firms.

Since 2016, Sinar Mas Land has undergone a digital transformation to provide the best services and products for the public. This initiative includes the development of the Digital Hub, a 26-hectare area in BSD City dedicated to communities, educational institutions, startups, and multinational companies in the digital and creative technology sectors. Various parties have received positive reception in developing the ecosystem, which has become home to more than 38 leading companies, including Traveloka, Unilever, NTT, Grab, and Apple. In terms of access, Digital Hub has direct routes to the Serpong-Balaraja Toll Gate Section 1A, Jakarta-Merak Toll Road (Kebon Jeruk Toll), and Jakarta-Serpong Toll Road, which integrates with Kunciran-Serpong Toll, JORR 2, Soekarno-Hatta Airport Toll Road, and Jagorawi Toll Road. Mobility to/from Digital Hub is also supported by various public transportation options, including the free shuttle bus BSD Link, BSD City feeder bus, and commuter trains via Cisauk Station in the BSD City Intermoda area.