These are Startups and Investors in the Indonesian Healthtech Ecosystem

The health sector in Indonesia is still facing various challenges, ranging from disparities in the fulfillment of doctors, the unequal distribution of health facilities, to innovation in the medical sector which is still relatively slow --- thus creating gap which is quite obvious in many areas.

For example, regarding specialist doctors, according to the Director General of Health Personnel at the Ministry of Health, the ratio is still very small, the government is targeting to reach it target ratio 0,28: 1.000 So currently 30 thousand specialist doctors are still needed.

Apart from the efforts made upstream, technology-based approaches are now starting to be intensified to trigger the adoption of better health services for all levels of society, including through digital applications. In fact, to create a more conducive climate for innovation, the Ministry of Health has built a special unit (DTO/Digital Transformation Office) and The roadmap which is quite clear regarding health service innovation in Indonesia.

DTO encourages regulations that are friendlier to the ecosystem healthtech in Indonesia, the implication is that health technology innovations are now easier to test, apply and commercialize. Apart from that, there is a mission to reorganize recording and digitizing data for long-term interests.

Of course this is a big opportunity for inventors healthtech in Indonesia is projected reached $1,7 billion in 2023 and will grow at a CAGR of 10,35% until 2028, valued at $2,9 billion.

Player healthtech biggest

Startups healthtech have started to emerge since the early development era of startups. Starting from health information portals, telemedicine services, e-pharmacy, O2O healthcare, is now heading towards the next round of innovation: Biotech.

Based on publicly announced funding data, three startups are currently projected to have become centaur (So ​​far there aren't any unicorn local from vertical healtech).

Investors in verticals healthtech

In the past year, sector healthtech and its derivatives have very rapid growth momentum. This encourages investors to sharpen their hypotheses to take part in this industry vertical. Not half-heartedly, a number of venture capitalists have also allocated special managed funds focused on investing in startups healthtech.

The following is a list of active investors in Indonesia who focus on funding startups in the health technology sector:

Healthcare Fund from East Ventures

Last month the venture capitalist was led Willson Cuaca this just announced the initiative Healthcare Fund worth $30 million. These funds will be distributed to startups healthtech and its derivatives in this area. So far they have also invested a lot in startups healthtech (and its derivatives). It was stated that there are at least 30 startups in Indonesia and regional areas.

In this business vertical, East Ventures also appears to be more serious about deepening its involvement in the genomics area – especially in line Biotech and deeptech. The following is a list of his latest investments:

BUMN CVC Management Fund

MDI Ventures and Bio Farma have formed a managed fund entitled "Bio Health Fund" with an initial investment commitment of $20 million. They will invest the funds in early-stage and growing startups focused on biotech and healthcare innovation in Indonesia. Another BUMN CVC, namely Mandiri Capital Indonesia, also said that they release thematic funds with one focus in the field of biotech.

MCI itself is currently focusing on deepening the hypothesis impact investing they go through a number of co-investments, one of which is with UNDP. They explore startups that have the potential to disrupt the real sector with impact with technological innovation.

MDI itself is currently an investor in a number of startups healthtech such as Alodokter, Good Doctor, SwipeRx, CXAGroup, Pixa, and Heals. Through other units, Telkomsel Mitra Innovation which is also a subsidiary of the Telkom Group, they also invest in Halodoc and Zi.Care.

List of VCs who invested in healthtech

Even though they don't have special managed funds, apart from the venture capitalists mentioned above, a number of venture capitalists also have an interest in investing in startups. healthtech local in the last two years. Here's the complete list:

1. AC Ventures
2. AstraDigital
3. GK-Plug and Play
4. Golden Gate Ventures
5. Iterative
6. Jungle Ventures
7. Kenangan Fund (Kopital Ventures)
8. Openspace Ventures
9. Skystar Capital
10. Softbank
11. Teja Ventures
12. Venturer
13. Wavemaker Partners

Apart from that, a number of angel investors also started to take part in investing in startups healthtech, especially in the round pre seed or seed.