Endeavor drives high-impact entrepreneurship in Indonesia
By Yunnie Marzuki March 6, 2018
- Endeavor will host Scale-Up Asia on March 28 in Jakarta
- Entrepreneurs needs role models, the right ecosystem, and an open mindset
ENDEAVOR Indonesia, a community that focuses its efforts on building Indonesian entrepreneurial ecosystems through the ‘high-impact entrepreneurship (HIE)’ movement, firmly believes in the importance of the role of high-impact entrepreneurs and scale-up companies in creating and accelerating Indonesia’s economic growth.
Endeavor Indonesia will therefore host Scale-Up Asia on March 28, 2018 in Jakarta.
High-impact entrepreneurs are defined as those who grow their businesses to reach massive exposure. They have a vision that can influence large crowds and inspire others to follow in their footsteps, result in an acceleration of employment and the fostering of economic growth.
These entrepreneurs contribute to the dynamic entrepreneurial ecosystem in Indonesia, by becoming role models and building a culture through mentorship, and investing in the next generation of entrepreneurs.
Gunung Sewu Kencana chairman and Endeavor Indonesia founding board member Husodo Angkosubroto says that Indonesia should not only be a country with huge potential, but a market that can be developed with an ecosystem that is scalable.
“We need more creative and innovative entrepreneurs who are able to compete with existing big and traditional businesses.”
According to PT Landscape Indonesia chief executive officer Agus Sari, Indonesia is a social capital-based ecosystem where businesses are marked by trust and cooperation.
“We apply the terms ‘economy of scope’ meaning that all players should trust each other and feel that they are in an ecosystem that can nurture them. As an entrepreneur, you have to be brave in innovating and could grasp every chance.”
Agus says that to innovate does not mean always creating something new. It is also the way we take existing ideas and make them interesting and different.
Merah Putih Incubator chief executive officer Antonny Liem says that he not only looks at the products offered by startups, but also at how the founders are able to build a sustainable business.
Husodo explains that every person may have their own skills and determination, but perhaps, they do not have an open mindset. “An open mindset could help them to take every input into consideration even though they are already successful.”
“In the past, people used to talk about business even at the dining table with family. But now, we can get knowledge about business everywhere,” says Endeavor Indonesia managing director Sati Rasuanto.
“To produce HIE, certain efforts are required to support entrepreneurs such as access to the right mentoring, capital, and network in accelerating their business growth.”
In scaling up business, Agus feels that differentiation in business makes entrepreneurs think about which parts need to be prioritised.
Challenges as an entrepreneur
What do the entrepreneurs have to say about HIE?
When Bukalapak co-founder and chief financial officer Fajrin Rasyid first joined the company in 2010, he saw its potential as a marketplace, but faced the challenges in terms of an unpredictable future and with starting a business in small team which required everyone to be flexible.
Snapcart founder and chief executive Reynazran Royono had worked in a consulting firm before and says that when he needs data, it takes time to make an analysis and this inspired him to start Snapcart which provides brands and retailers with reports and information about consumer spending and shopping habits.
Investree founder and chief executive officer Adrian Gunadi has a background in banking industry. He had to step out of his comfort zone and start his own fintech company, to realise that experience is the biggest asset in starting a company. “Even when you do not have experience, you will learn in the field and I think that mentorships are important.”
When asked about challenges, Fajrin says that at every growth stage, the company will face different challenges. “As an example, in a small team, everyone needs to be flexible, and when the number of staff grows, supervision and job descriptions will be needed for each person. So, it depends on how we manage it.”
Reynazran thinks that as a founder, he needs to decide which area he wants the company to dive into. “At first, we provided many services in Snapcart, but then I realised we needed to prioritise services that are sustainable and focus on them.”
“Although experience helps us to solve the problems, we need to work with the right partners and build chemistry with the team from the beginning because the starting point is critical,” says Adrian.