DSInnovate Report: Impact of Incubator and Accelerator Programs for Indonesian Startup Ecosystems
DSInnovate and Indigo explore the effectiveness and relevance of startup incubator/accelerator programs from the founder's perspective
According to the latest data summarized in the e-Conomy SEA 2021 report, the internet economy in Indonesia currently has accumulated GMV reaching $70 billion or equivalent to 996,2 trillion Rupiah. In addition to the indeed large market share, this achievement is inseparable from the rapid development of the digital startup ecosystem. In the last decade, various efforts have been made by stakeholder to foster the potential of digital startups, including through incubator and accelerator programs.
In Indonesia, several incubator/accelerator programs have succeeded in accompanying founders to bring their startups to an impressive point. Some of the graduates of the program are now on the list of highly valued companies, over $100 million -- not a few of whom are soon to earn degrees unicorn through the next round of funding series. One of the leading incubator/accelerator programs in Indonesia is Indigo, which was initiated by the Telkom Group.
Indigo opens batch initially in 2013, embracing various potential business verticals, such as agritech, big data, e-commerce, edtech, SaaS, and others. Some of its graduate startups include Payfazz, Privy, Bahaso, and dozens of others. The program presented is very intensive to provide a thorough understanding of founder about digital business. Material support such as seed funding (pre-seed) also provided to help startups validate the initial traction of their services.
To provide a detailed description of the impact of the incubator/accelerator program on the Indonesian startup ecosystem, Indigo collaborates with DSInnovate launched a report entitled "Indigo Impact Report 2021". It covers 5 big topics, including:
- Digital industry in Indonesia
- Startup ecosystem
- Incubation and acceleration program
- Impact of incubation and acceleration programs on startups
- The impact of Indigo startups on the digital economy
From the research and surveys conducted there are some interesting findings, for example 90,5% of respondents (founder startups that have participated in the program) gave a good perception of the materials presented in the incubator/accelerator program in Indonesia. While the most preferred mentor is founder seniors (86,8%), experts or professionals (80,2%), and venture capitalists (79,2%). In addition, many other aspects are also discussed in the report, including the list of programs that are still active, the impact of startup after joining the program, and others.
For more details, download the report via the following link: Indigo Impact Report 2021.
- Disclosure: DSInnovate collaborated with Indigo for the preparation of this report