Through the "Venture Studio" Approach, Pintar Ventura Group Develops a Series of Applications for MSMEs

Many people are competing to create innovations, but to build a company or develop a new product is not an easy task. About 90% of startups fail to maintain their business. A fact that begs the question: where are the faults that caused them to fail and what can be done to increase their chances of success?

Various initiatives have been launched to support business development, such as venture capital in terms of capital, as well as accelerator and incubator programs for more integral support to prospective entrepreneurs. Still within the scope of support for business development, Smart Venture Group offers a relatively new concept in Indonesia, namely venture studio.

Venture Concept Studio

Quite different from the venture capital approach, venture studio closely involved in day-to-day operations and strategic decisions in new business development efforts. Once a startup shows traction, it can look to raise capital from outside investors, including VCs. This concept is quite close to the definition venture builder.

Pintar Ventura Group Co-Founder & CEO Vlad Ayukaev said, "Venture Studio is the right solution to build a business with less risk. This may not be a familiar concept in Southeast Asia, but this concept has proven successful in Europe, especially the market in Southeast Asia. where entrepreneurs still have difficulty getting independent capital support."

After more than a year of operation, Pintar Ventura Group (PVG) has started the initiative venture studio and establish focus for the product fintech targeting the MSME market. "We believe that Indonesia's main economic strength is MSMEs. The country has around 57 million businesses, of which about three-quarters have not been digitized," added Vlad.

On the agenda media visits virtually with the team DailySocial.id, Vlad admitted the company has experienced quite rapid growth in the past year. With 16 teams developer most offshore The company is targeting to expand and build a separate R&D center in Indonesia.

PVG is supported by a European family company that has great confidence in the Indonesian market. Currently, PVG has launched two projects in the field fintech namely Point of Sales and Bill Payments. "Our target is to be able to develop at least 5 projects this year. For each project, we will invest in terms of capital and product development to BEP (Break Event Point)," he continued.

In this case, the company realizes that this initiative requires a process that is not short. In order to launch the existing business potential, PVG is also looking for businesses local people who share a common vision to work together to develop this initiative.

Products that focus on SMEs

In the agenda of helping business development that focuses on targeting MSMEs, PVG claimed to have invested as much as $2,5 million or the equivalent of 35 billion Rupiah. In addition, it also has 2 two product portfolios, namely: POS named Posy and the Klikoo payment platform which has reached more than 20 thousand MSMEs in Indonesia.

"There is no one solution that can answer all point bread in this industry. Therefore, we want to create a product ecosystem that is very niche for MSMEs. Departing from one pain point to one point bread others," said PVG Chief Business Development Januar Parlindungan.

One of the products that have been launched is Posy, a Point of Sales platform designed for MSMEs in Indonesia. This platform offers convenience for MSMEs to manage inventory, create financial reports and help analyze business and employee performance. Besides that which will be launching soon is Clickoo which offers convenience in conducting PPOB transactions.

Asked about the challenges, the company realized that understanding the local market was needed for this segment. The company itself is confident in its capable technology. So far, his team sees that digitalization is one of the most fundamental problems, apart from regulation. "I don't want to create my own rules, that's why we try to attract as many local partners as possible as long as it can help faster product launches and wider penetration," said Vlad.

From the government side, the transformative recovery in 2022 in the MSME and cooperative sector is to increase the number of MSMEs to enter the digital ecosystem by 30%, around 20 million MSMEs are targeted to go digital. Currently, SMEs that have on boarding to the digital ecosystem of 16,9 million business actors.

Regarding products for MSMEs, continued Vlad, the most important thing is to know the gaps or gaps hook to hook merchant. Not only being an intermediary, but also being able to provide value or value end for them. By giving a fairly affordable price, the hope is merchant will last longer. This involves the loyalty of both parties. "We might lose a bit revenue, but could offer more value. It's very important to know hook appropriate for each segment," said Vlad.