Plug and Play Indonesia Announces 11 Startups Join the First Batch Accelerator Program

Indonesian Plug and Play, a startup accelerator based in Silicon Valley, announced 11 selected startups that will participate in the first batch of acceleration program. Selected startups are entitled to facilities from PNP Indonesia and an initial injection of US$50.

Before being selected, the 11 startups had gone through a rigorous selection process for two months. In total, more than 400 startups submitted applications to Plug and Play Indonesia from Greater Jakarta, Bandung, Yogyakarta, Bali, Singapore, Malaysia, Hong Kong, India, Brazil, and Germany. This number is filtered to 50 startups to follow the stages pitching in March 2017.

Watches pitching, startups are required to explain the team profile, business model, traction, and financial plan. After being declared successful, startups are entitled to participate final pitching in front of PNP Indonesia, PNP Asia Pacific, PNP Silicon Valley, and representatives of PNP Indonesia's corporate partners.

When selected, all startups have the opportunity to collaborate with corporations and an initial funding injection of US $ 50 thousand. Moreover, they will receive guidance 1-on-1 mentorship programs by 60 mentors from various fields for three months to hone startup skills. Also, facilities co-working space Rework in Kuningan, during the program.

"These selected startups are not based on how long they have been operating. Most importantly, they have created traction, even though he was only a few months old. In addition, we also saw the experience of the startup team itself. Because from there it is our duty to help them growing," said PNP Indonesia Accelerator Director Nayoko Wicaksono, Monday (8/5).

The following are the 11 startups selected in the first batch:

1. Education Fund: a fundraising platform for education financing, connecting underprivileged students with donors who are willing to fund, with a minimum investment of IDR 50 thousand. The yield offered is profit sharing with 0% interest charged to students.

2. KYCK: this Singapore-based startup provides access to financial service providers in handling the Know Your Customer (KYC) process.

3. Autospector: a used car checking service provider platform. The company has technicians who are skilled and experienced in inspecting cars, reports are delivered objectively and impartially via email.

4. Busticket: an online bus ticket booking service provider. Already have the app but currently only available for Android users. They have also collaborated with 70 bus operators located in Java.

5. Map: a revolutionary advertising service provider through two-wheeled vehicles. For motorists, they will get money according to the distance traveled.

6. SayurBox: an e-commerce platform for purchasing vegetables directly from producers. This startup has been established since July 2016, in partnership with 22 individual farmers and farmer groups located around West Java.

7. safe: a financial management platform with features for sending and receiving payments, tracking budgets, and managing bank accounts via mobile.

8. Astronaut: This startup is based in Singapore, providing applications for interviews with prospective job applicants via video-selfies.

9. Bandboo: a fintech startup that plays in the online insurance sector from Singapore. This service allows users to enjoy insurance coverage without having to go to an insurance company.

10. wonderlabs: is a portal to find outsourced workers specifically for designers and engineers. This startup has been established since 2015 in Yogyakarta.

11. Toucan: a virtual e-wallet platform that is integrated with other financial services, providing a solution for people who do not have a bank account.