Basic Things Startup Must Pay Attention to When Raising Funds

Two interesting things were conveyed by two #TuesdayStartup sources this week, namely KoinWorks Head Marketing Jonathan Bryan and Spiral Ventures Investment Analyst Karissa Adelaide. Discussion session with the theme "Know you potential investors" discusses some interesting ways that startup actors must pay attention to when preparing to do business fundraising. Starting from pitchdeck which is perfect until the startup policy uses the funds that have been received after the fundraising is done.

Spiral Ventures is ready to support Indonesian startups

After changing the name to Spiral Ventures Last March 2017, their main focus was on Indonesian startups, especially those based on technology. Still focus on pre seed and seed stages, Karissa revealed that there are still many startups from Indonesia that have the potential to get investment.

"Of course I don't want to see startups that are still applying the same pattern, which is making a business e-commerce, marketplaces to on-demand. Try to find new businesses that take advantage of technology and provide the best solutions to existing problems," said Karissa.

Karissa also added that it is important for startups to be able to approach and have good relations with investors. In this case, Karissa's task as an Investment Analyst is to determine: pitchdeck which has the potential to be passed on to venture partners in VC.

"For that pay close attention pitchdeck owned before being sent to the VC. Starting from writing corrections to the contents of existing content, pitchdeck What caught the VC's attention was, pitchdeck short, clear and full of information related to the business model of the startup," said Karissa.

Karissa also added that it is important for startup actors to take a "Friendly" to investors at public events. Inform the startup business model briefly and concisely at the opportunity or better known as "elevator pitch".

"It's good that you must be able to convince your parents or even your grandmother in advance about the business model that you will launch. If they understand your idea within one minute, surely investors will be able to understand and the short time will not be wasted," said Karissa.

Furthermore, after funding is received by the startup, it is important for the startup owner to determine the main priority of channeling funds to product development, not to things that are less relevant such as the allocation of employee salaries.

"I suggest not making decisions that don't make sense and don't support the startup business. Set priorities and make a commitment to launch the plan," said Karissa.

KoinWorks and potential as a startup funder

Since running its business for the past year, KoinWorks currently has around 15 thousand borrowers or borrowers and the number of investors or lenders is also claimed to continue to increase. The amount invested also varies, ranging from Rp. 100 thousand to Rp. 500 million. Of the many existing lenders, according to Jonathan, it cannot be implemented for startups that require additional capital for startups.

"Our focus so far is still on individuals to SMEs, which are the merchant from service E-commerce like Lazada. For this reason, KoinWorks has not opened up opportunities for startups to get investment from KoinWorks lenders," said Jonathan.

2018 startup trends

At the end of the event Jonathan and Karissa share predictions related to the trend of startups that will have potential in 2018.

"I see health tech will have bright potential. Because there is still a lot of potential that has not been explored, while the needs of many people for health services are still very much needed," Karissa said.

Meanwhile, according to Jonathan, although there are currently many P2P services in the country, there are still new gaps for startup players who want to target services. financial technology (fintech) in Indonesia.

"I also saw the service edutech still has potential to be explored and also health care which is still rare nowadays in Indonesia," said Jonathan.

- Andriansyah Agustian participated in writing this article