Indosat Ooredoo, Mountain Partners, and Kejora Establish Venture Capital "Ideabox Ventures"

Indosat Ooredoo, Mountain Partners, and Kejora agreed to establish a joint venture capital company Ideabox Ventures. This company is the result of a follow-up to the cooperation previously carried out by the three parties when running the Incubator accelerator program since 2013.

With this new company, it means that startup players can join Indosat, Mountain Ventures, and other networks Morning through two routes. Namely through Ideabox Ventures or the Ideabox Alpha accelerator program. It's just that, there are differences in specifications for startups that want to join.

To enter through Ideabox Ventures, you can only accept startups that are classified as ready-made companies, are active in the digital field, have a founder with a complete team, have never received series A funding, and have proven traction in the fields of e-commerce, web services, digital payments & fintech, as well as technology & security.

As for the capital injection that is prepared for startups that enter through this route maximum $500 thousand through venture capital funds, plus other support, such as strategic and commercial consulting that will help the company to grow and expand its business reach.

Andy Zain, Managing Director of Kejora, explained that from Ideabox Ventures his party will only take six to eight startups that can join Ideabox Ventures. "This is an initial commitment for three years, after three years it will be evaluated how the next action will be," he explained, Thursday (24/11).

Alexander Rusli, CEO and President Director of Indosat Ooredoo, added, "In addition to being able to invest, the difference at Ideabox Ventures is that participants are also given office facilities as a place to work and support from us for go-to-market. We are delighted to be working with Mountain Partners, given that this company operates globally."

Meanwhile, if you enter through Ideabox Alpha accelerator program nominal investment given no more than $50 thousand. The reason is, the criteria for startups that can enter are also different. One of the categories is that they already have a business idea, but the product is still in the form of a prototype.

Further explained by Andy, the Ideabox Alpha accelerator program is being held for the fourth time. So far, there have been 15 graduates from this program, including Dealoka, Pawoon, Wobe, Cupslice, and others from six locations in Jakarta, Bandung, Surabaya, Yogyakarta, Singapore, and Australia.

The team that will be selected to enter batch 4 is required to present their business model for 120 days in Jakarta with support and mentoring from Indosat Ooredoo, Mountain Partners, and Kejora. Furthermore, they also have the opportunity to increase their operations through a commercial partnership with Indosat Ooredoo.

"Through the combination of existing knowledge and networks, we believe we can help startups reduce technology, market, business model and execution risks. If startups have direct access to 85 million users, this is very possible through Ideabox," said Ideabox. Andy.

For your information, Indosat also has another venture capital JV company, namely SoftBank with the name SB ISAT. This company has a higher startup preference than Ideabox Ventures, only for startups that have already mature of everything and they need investment money.

"For venture capital with SoftBank it is still running, it's just that there are different preferences. Namely for startups mature which is being need money," concluded Alex.