Draper Team Investment Plan in Indonesia

One of high profile venture capitalists from the United States, Tim Draper, specifically came to Indonesia (08/06). In front of investors, venture capitalists, and entrepreneurs, Draper shared interesting experiences and tips for Indonesian entrepreneurs. Draper's first visit to Jakarta was part of his agenda to meet with Go-Jek and several startups supported by Wavemaker, venture capital which focuses on funding in the Southeast Asia region.

Opportunities abound in Indonesia

Previously, Draper, who currently serves as a Founding Partner at Draper Associates, has successfully invested in Hotmail, Skype, and Tesla. After pouring a number of investments in China, currently Draper is starting to look at Indonesia. According to Draper, the government has not yet made rules and regulations on matters related to technology, helping local and foreign entrepreneurs a little who wants to build startups in Indonesia.

"Unlike the United States, which is now starting to be filled with rules and regulations, Indonesia is still a wide open opportunity for entrepreneurs to create technology-based products or services," said Draper.

As one of the most influential investors in the US, Draper never saw his job as an investor exhausting, instead it was an adventure. This turned out to be useful to see which new startups deserve to be funded venture capital hers.

“For example, when I started investing in Tesla long before Elon Musk took over. At that time when there were not many electric cars made but some engineers started to create them, I was immediately interested, tried and decided this was the future," said Draper.

Draper's success in bringing Tesla's name as it is today, is an example that the technology in the future will be the future. Likewise when he began to get acquainted with the owner of Hotmail and Skype.

“In the end I see technology is interconnected with each other, we are one. In my opinion, this is a strength that entrepreneurs have today,” said Draper.

The potential of Bitcoin in Indonesia and the future of China

Another interesting thing that Draper mentioned during the event was Bircoin's opportunity to grow in Indonesia. There are still many people who do not have a bank account and are still dependent on cash payments, according to Draper, is a very promising opportunity for Bitcoin in Indonesia with the better value Bitcoins today.

“I have always been very interested in the idea virtual currency and Indonesia, for all its troubles, is ideal for Bitcoin. Even though there are still pros and cons, I see Bitcoin as the best solution for Indonesia,” said Draper.

Draper also added that what is happening in China at the moment makes it difficult for Draper and his team to move, with existing limitations and capital controls prohibiting money from leaving China.

“If China continues to implement these regulations, I see that in the end there will be more and more VCs so that foreign entrepreneurs choose to leave China and China will be increasingly isolated. However, I see in the future China is still a great place for new opportunities and opportunities,” said Draper.

Powerful tips to face challenges

In the end, when the startup that was built began to receive attention and criticism, there would be many attacks from people who felt disadvantaged. Starting from the government, the private sector to other related parties. As a smart entrepreneur, prepare the available ammunition and preparations tocounter the attack, with wise data and answers. Don't give up or give a defensive response, but focus on the customer.

“When there are problems with regulators, competitors and others, make sure to convince customers and have weapons and ammunition ready to fight them.counter media and public opinion which is negative,” said Draper.

At the end of the event, Draper gave some interesting tips for entrepreneurs to survive and grow well. That is to do as much fundraising as possible, limit spending, and save well the money that has been collected. Thus startups can run their business smoothly.

“As long as the startup has savings, it is certain that the startup will survive. For that focus on customer satisfaction and do the process scaling well for the future of your startup,” concluded Draper.