Through a Series of Acceleration Programs, Sequoia Capital Wants to Support Indonesia's Startup Ecosystem

As one of the venture capitalists who is quite active in providing funding to startups in Indonesia and Southeast Asia, Sequioa Capital has a special strategy that is claimed to be a forum for the startup ecosystem. Starting from the acceleration program called Surge to Sequoia Spark, all programs are designed according to the stages of each startup. And now it has given birth to a number of quality startups.

To DailySocial.id, Sequoia Capital's Managing Director Abheek Anand revealed that several programs initiated by Sequoia are aimed at helping startups that are still in their early stages to those who already have status. unicorn to decacorn in India to Southeast Asia.

When asked about the startup business category that Sequoia paid attention to when investing, Abheek specifically emphasized that around 80-90% of them have been paying more attention to startups to technology-based companies. Starting from consumer internet, financial services, B2B software. to industries that are currently trending, namely crypto and web 3.0.

However, it is possible if there is a business category that has the potential to develop and then they will glance at it. Examples of startups aqua culture Indonesia is like eFishery. However, in particular the sectors that are still a concern of Sequoia until now are fintech.

"And I see there are still many opportunities from service fintech to continue to grow in Indonesia. We also want to partner more with startups targeting services fintech and is still in the early stages. This includes companies targeting cryptocurrencies and related companies, we are interested in investing in them," said Abheek.

Surge flagship program

One of Sequoia Capital's flagship programs is the acceleration program Arises. Through this program, startups that are still in their early stages can get mentoring to support capital which is relevant. Surge combines $1 million to $2 million in start-up capital with company building support, a global curriculum, and support from a community of mentors and startup founders.

"We see the Surge program as the first step for startups that are still in their early stages. We want to establish partnerships with more startups in Indonesia," said Abheek.

For those who have entered the Surge program and managed to get funding, in the future if they have potential, Sequoia will provide investment in the next funding round. Thus, the Surge program is an opening for them to be able to get further funding opportunities.

Startups that initially graduated from the Surge program and managed to get advanced stage investments from Sequoia Capital, including Lummo and Qoala.

Currently, there are 9 startups that have graduated from the Surge program. Meanwhile, Sequoia Capital itself has been involved in 22 startups in Indonesia. Among them are Traveloka, Gudangada, GoTo, and Kopi Kenangan.

Sequoia Spark, Build and The Guild Programs

One of the programs that has been launched by Sequoia India that supports women's efforts is Sequoia Sparks. This $100.000 grant program along with mentoring, wants to invite more women in India and the Southeast Asia region to become entrepreneurs.

This program is held by providing in-depth direct assistance to 15 female-led startups each year and sufficient capital as an initial cost to start a business.

"What we provide are grants, not in the form of investment or equity sharing. Through this program we want to make the process of building a business for women easier, with assistance from us. Through this program, it is also a way for us to find smart and motivated women. great for building a business that has value," said Abheek.

The first cohort of the Sequoia Spark program spans a wide variety of fields, including EdTech, fintech, SaaS, and crypto. The cohort combines seven startups from Southeast Asia, seven from India and one from the United Arab Emirates. From Indonesia Sribuu successfully secured mentoring and seed funding from Sequoia Capital.

"Mentoring is part of Sequoia, we not only act as business partners but can also help them in the form of mentoring through the programs we offer. It is hoped that it can help the community because all of our programs are built based on the existing stages. Starting from Surge for early-stage startups, Spark for women and we also have programs for startups that have entered the advanced stages such as series B to those who have become unicorn and decacorn, said Abhik.

Especially for startups that are about to start raising series B funds, Sequoia Capital has a program called Sequoia Build. Through this program, startups can get the opportunity to manage a bigger business, by understanding the importance of pursuing growth, creating a corporate culture to building a strategy.

"One of the challenges for startups that are in the Series B stage is how they create a good corporate culture, develop strategies and consider economic units versus growth, said Abhik.

For startups to technology companies that already have unicorn to decacorn status, Sequoia Capital also has a special program called The The Guild. Through this program they will be assisted to think about growth and how the company can continue to grow.

"In accordance with Sequoia Capital's philosophy, which is not only providing funding but we also help the company continue to grow for the long term," concluded Abheek.