eFishery Tips Put Values ​​and Purpose as Collaboration Guidelines

Words like "collaboration" and "partnership" are often thrown from tech business forums or from startup retainers. But what exactly is the purpose of collaboration or partnership in a startup business? We covered this topic in the latest issue of #TuesdayStartup with the Founder & CEO of eFishery, Gibran Huzaifah.

In digital business, collaboration is often cited as the key to unlocking startup growth stagnation. With different focuses and expertise, collaboration is an important factor in growing a startup. Gibran is no exception through eFishery. The following is Gibran's view on collaboration to boost the company's growth.

Values ​​and goals as the foundation

Gibran said that the startup he founded always bases decisions based on the needs of fish and shrimp farming farmers. From there they can create product innovation that can create value to new impacts.

Likewise with collaboration, this principle is the guideline for eFishery. Gibran believes that every startup has its own big mission. However, startups also have their limits. That's why before deciding to cooperate with a particular party, he prioritizes what value can be completed through the cooperation.

"On the other hand, we have big ambitions. That's the importance of collaboration. We can work with people who have different values ​​so that the value is more complete and bigger," said Gibran.

According to him, a collaboration always starts with the problems faced by cultivation farmers. For example, as they manifest in financing products, eFisheryFund. Some farmers experience problems in accessing capital. So eFishery cooperates with fintech to develop that financing feature.

"We never start from whom to collaborate. We always start of the problem," added Gibran.

Open opportunities

This focus on values ​​and goals has proven to be able to bring eFishery as one of the most respected startups in the fisheries sector. They have now served thousands of cultivation farmers in 240 regencies/cities from 24 provinces. Not long ago eFishery also pocketed series B funding led by Northstar and GoVentures.

Gibran assesses that this achievement cannot be separated from their consistency in serving the needs of their customers over the years.

"From the beginning, we haven't done what we don't do. Only in the last 1,5 years have we experimented with developing other business models because we know we have stairs and Resources therefore. But in the first 5 years, we only did one thing," said Gibran.

In addition to the trust of fish and shrimp farming farmers, the consistency of eFishery services causes them to be seen by the government, from the regions to the center. A number of collaborations were carried out to develop the economic potential of fisheries.

The same goes for the funding aspect. Gibran recalled how difficult it was to hold the initial funding round. In addition to the rare number of startups engaged in fisheries, services internet of things (IoT) sold by eFishery is also very new for fish and shrimp farming farmers.

"Fortunately there are still those who want funding' said Gibran jokingly.

Getting through the pandemic crisis

Even though it's quite big, eFishery still has so much room to grow. This is because the total number of farmers in Indonesia has reached 3,5 million. Especially now that eFishery has expanded its business to financing and distribution.

The expansion of the eFishery business has in fact become an important alternative for cultivation farmers during the pandemic. Gibran said that during the large-scale social restriction (PSBB) policy, the absorption of fish from aquaculture decreased drastically. This situation almost puts farmers unable to sell fish at all.

"Later, when conditions return to normal, we may find it difficult to supply. In fact, we might even be able to import because the fish cultivators die. That's why we try crafting build partnerships with stakeholders to help them," he said.

Although there were rumors that eFishery would expand overseas, it seems that so far they are still targeting to explore the potential of domestic fisheries. Gibran said they are currently targeting to reach one million fish and shrimp farming farmers in 34 provinces of Indonesia.

Raising the four products they currently have is their priority. With the funding they recently received, they are determined to become a service provider end to end for the aquaculture ecosystem.

"So the focus is on developing its business unit and its expansion," concluded Gibran.