Ooredoo’s IdeaBox launches Batch 2 accelerator programme in Indonesia
By Digital News Asia September 16, 2014
- 18 projects selected from over 300 applicants, six finalists to be chosen
- Applications also came from nearby Malaysia and as far away as the US
DOHA-based telecommunications company Ooredoo and its Indonesian operating company Indosat have announced the second cycle of their startup accelerator IdeaBox, which is also supported by Mountain Partners.
In a statement, the two companies said that 18 finalists, from a pool of 300 applicants, have just completed a 48-hour bootcamp from Sept 13-14, and six winning startups from these will be placed in IdeaBox Batch #2, starting in November.
This follows a successful graduation for the first batch, which saw all participants secure “strong commercial contracts,” and two startups attracting funding from foreign investors within a couple of months of graduating, they claimed.
“There is a hunger within Indonesia’s vibrant startup ecosystem for strong accelerator and incubator programmes,” said Indosat chief executive officer and president director Alexander Rusli (pic).
“Through IdeaBox we are committed to providing strong commercial support to all the startups we incubate, helping them to find their place in Indonesia’s mobile services ecosystem.
“We look forward to seeing the innovative content created during the bootcamp and hearing more about those selected to go through to the next stage,” he added.
Rusli said that Indosat has also established a venture capital fund to invest in growth-stage companies in Indonesia and plans to launch a crowdsourcing platform very soon.
“As a Group we are committed to powering the creation of homegrown content in all of our markets, encouraging human growth through innovation,” said Ooredoo group chief executive officer Dr Nasser Marafih.
“Indonesia’s tech scene is developing at a rapid pace and IdeaBox helps ensure that we stay at the forefront.
“We are very proud of the local and international recognition, and interest, our accelerator programme has received with applications for this cycle coming from neighbouring countries like Malaysia as well as places further afield such as the United States.
“We were encouraged by the display of world-class talent in the first cycle and are confident this second batch of entrepreneurs and innovators will keep the trend alive,” he added.
The IdeaBox accelerator offers an intensive four-month acceleration programme which provides 24-7 mentoring, seed funding, facilities, a structured curriculum and access to a network of local and international startup founders and advisors.
Following graduation the startups continue to receive strong support from Indosat and Ooredoo, the two companies said.
This support includes commercial partnerships, co-location, payment integration and mobile advertising support to help them achieve success and access millions of Indonesian mobile customers.
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