1337 Ventures and partners launch Alpha Startups bootcamp in Indonesia
By Digital News Asia February 24, 2016
- To run two batches of 5-day bootcamp this year, in March and August
- Up to 3 teams will receive mentorship, office space, facilities and micro-funding
KUALA Lumpur-based accelerator and early-stage investor 1337 Ventures has announced a partnership with Convergence Ventures, Baidu Indonesia and Gobi Partners to bring its Alpha Startups bootcamp to Indonesia.
The five-day Alpha Startups Indonesia bootcamp will have two batches this year. The first will be held in Jakarta on March 28, with applications starting from Feb 23, while the second batch will run in August, 1337 Ventures said in a statement.
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Up to three teams will receive mentorship, office space, facilities and a micro-investment from the organisers valued at US$25,000 to support them in an ensuing three-month acceleration phase.
Through 1337 Ventures’ partnership with Amazon Web Services (AWS), top teams will also be extended AWS credits, and premium AWS business support, in addition to other 1337 partner resources, the company said.
Alpha Startups is an idea validation bootcamp with the mission of nurturing startups with viable business models. Participating startups will have the opportunity to pitch to leading investors in the region at the end of the five-day camp during a demo day.
The programme has so far coached 196 startups in previous camps held in Malaysia, Singapore and the Philippines, of which 23 have received follow-on financing from angel investors, accelerators, venture capital firms and government funds, 1337 Ventures said.
“We are proud to enter the Indonesian market with leading local investors and ecosystem builders Convergence Ventures, Baidu Indonesia and Gobi Partners,” said 1337 Ventures founding partner Bikesh Lakhmichand (pic).
“Indonesia is widely viewed as one of Asia’s fastest growing startup ecosystems, as a result of the emergence and support of local venture capital firms, institutional investors, and favourable government policies.
“With over 30% Internet penetration and nearly half of all users accessing the Internet via mobile connections, the country is increasingly connected and mobile-savvy, which is creating more opportunities for startups to grow,” he added.
As a technology venture fund, Convergence Ventures will be leveraging on its experience, expertise and strategic relationships in the region, 1337 Ventures said.
“Indonesia is one of the most exciting and high potential markets for digital companies in South-East Asia,” said Convergence Ventures founder and managing partner Adrian Li.
“Supporting established, well-run accelerator programmes will further help build the ecosystem by accelerating aspiring entrepreneurs into running their own business,” he added.
China’s early-stage technology investor Gobi Partners expanded into South-East Asia in 2010, with a focus on IT and digital media companies.
“Together with our partners, we believe that 1337 Ventures’ Alpha Startups programme is a great way for us to contribute to building Indonesia’s startup ecosystem,” said Gobi Partners managing partner Thomas G. Tsao.
Meanwhile, Chinese Internet service provider Baidu is looking to further strengthen its presence in South-East Asia via Alpha Startups Indonesia.
“With strong collaboration, we would like to bring local startups to the next level through Alpha Startups,” said Baidu Indonesia country director Bao Jianlei.
As part of the application process, entrepreneurs will have to submit a one-minute video recording pitching their startup concept to Alpha Startups Indonesia. Successful applicants will be notified of the selection on a rolling basis up to one week before the commencement of the inaugural batch in Jakarta.
Entrepreneurs interested in becoming a part of Alpha Startups Batch 1 in Jakarta can submit applications online via http://alphastartups.co/indonesia from Feb 23 to March 21.
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