East Ventures Describes the Potential of Genomics and Its Development in Indonesia

A sector-agnostic venture capital firm, East Ventures launched today (16/2). white paper entitled "Genomics: Leapfrogging into the Indonesian healthcare future". In collaboration with the Ministry of Health of the Republic of Indonesia and Redseer Strategy Consultant, this report provides a comprehensive understanding of the role of genomics in improving the health system in Indonesia.

Most of Indonesia's population, which is currently young, is expected to age rapidly and has the potential to burden the health infrastructure. In order to mitigate potential health crises, genomics can be an alternative in providing preventive care and appropriate treatment solutions.

Genomics is commonly applied in medicine and biotechnology leading to new treatments, therapies, products and technologies. As it develops, genomics has the potential transform health care ecosystem in Indonesia.

In his speech, Minister of Health Budi Gunadi Sadikin said that currently the health industry in Indonesia is still lagging behind other countries, especially in terms of improving health services and life expectancy.

"This is where the fields of genomics and precision medicine play a role in offering a transformative approach to diagnosing and treating patients by considering the unique genetic makeup of each individual. The Ministry of Health sees this as a great opportunity, and has designed six major reforms in the world of health, including biotechnology," he said at the event located at the Mulia Hotel, Jakarta.

Meanwhile, Co-Founder and Managing Partner of East Ventures Willson Cuaca Dalam keynote-he, said that the development of genomics in Indonesia is still at a very early stage. Therefore, it requires the cooperation of all stakeholder to create a road map for the development of this sector.

There are four key pillars for optimally developing the field of genomics, including infrastructure, investment, human resources, and regulation. These pillars are crucial to ensuring the benefits of genomics and precision medicine can be realized, as well as the creation of investment channels to support the growth of this field.

Indonesia's health infrastructure is said to be lagging behind its peers, according to WHO standards. This leaves room for improvement. Coupled with systemic diseases and an aging population in 2030, Indonesia needs to prepare now.

Managed funds to the acceleration program

In addition to acting as an alternative solution to extending human life, innovation in genomics is estimated to have the potential to drive economic growth of up to $ 100 billion. Willson, in a panel discussion session discussing genomic technology, also revealed East Ventures' managed fund plan that focuses on this sector.

From the start, East Ventures believed in the potential of genomic technology in revolutionizing Indonesia's health systems and infrastructure. While investing in genomics is still relatively new, East Ventures has demonstrated its confidence since 2018 through its portfolio in the field genome Sequencing, namely Nalagenetics and Nusantics.

However, unclear regulations are considered to hinder the development of genomics in a country. The Chief Digital Transformation Office (DTO) of the Ministry of Health, Setiaji, revealed that the government is currently developing regulations related to genomics and biotechnology. "This regulation will be issued when the technology is entered into sandbox, approximately 3-6 months after this.

East Ventures also announced its support with the Ministry of Health's DTO through an incubation program for startups and innovators in the health sector called "Health Innovation Sprint Accelerator 2023 in collaboration with East Ventures". This program aims to advance the quality of health through innovation in the field healthtech and Biotech in Indonesia.

This is an incubation program for startups and innovators in the health sector. This program aims to improve the quality of health through innovation in the Health-Tech and Bio-Tech sectors in Indonesia. Prospective participants can register to get the opportunity to pitch their innovative ideas and products to the Government, the health industry, and academia.

This program has two main focuses. First, healthtech with the categories of Electronic Medical Record System, Healthcare Provider Management System, Health Management Solution, and Health Wellness. Second, Biotech with the Information Technology category for support in precision medicine, Integrated Laboratory Information and Management System, as well as product development based on genome sequencing for the health industry or biotech.

This incubation program is free and offers access to a network of multidisciplinary collaborations and mentoring from experienced mentors and experts in their fields. In addition to getting appreciation tokens, participants have the opportunity to become partners with the Ministry of Health in developing a health biotechnology ecosystem.