UberPitch Holds Venture Capital and Startup Instant Meeting

Uber is working with a number of venture capital held UberPitch activities for 2 days (9-10 November) from 12 to 3 pm in the Pacific Place area of ​​Jakarta. This open opportunity is an opportunity that startup owners and young entrepreneurs can take advantage of who want to expand networking among venture capitalist local and foreign in Indonesia.

There are 12 venture capitalists participating in this UberPitch activity, namely KK Fund, Skystar Capital, Monk's Hill Ventures, Ideasource, Convergence Ventures, Mountains Kejora, Fenox VC, IMJ Ventures, East Ventures, Alpha JWC Ventures and SMDV.

“The unique thing about UberPitch activities is that they (startups) must be in the Pacific Place area, then place an Uber order with the UberPitch code. If in-pickup or accepted by the relevant VC, they will be invited to do pitching in the car directly with the relevant VC coordinated by the team from Uber," said Uber spokesman for Southeast Asia Karun Arya.

There are 20 fleets prepared for this UberPitch activity. This activity, which was carried out for the first time in Indonesia, is expected to become a routine activity of Uber Indonesia in order to help more startups and new entrepreneurs meet directly with investors to venture capital in Indonesia. Previously, UberPitch was held in Australia, while in Thailand it used the name UberInvest.

"The bottom line is that Uber wants to be a platform that can be used daily, not only as a means of transportation but also as an opportunity to develop a business using Uber," Karun said.

UberPitch Rangkaian series of activities

In this UberPitch, we got the chance to listen and see first hand the process pitching ideas from the CEO and Co-founder BdB Arif Fajar Saputra who had the opportunity to meet directly with the Founder and General Partner KK Fund Koichi Saito.

In the car Arif straightforwardly told about the background of BdB, who were the targets and how positioning BdB as a news reader application that can be customized directly from the phone and is currently available on the android and iOS platforms.

During the pitching, Koichi Saito asked several things he wanted to know from the startup founder, ranging from application trends in this segment, customer acquisition, to exit strategy.

Not much different from conventional pitching. This time, UberPitch is also equipped with supporting information prepared by the startup founder in the form of a presentation on a personal laptop attached to it.share in the car.

After UberPitch, Koichi Saito who chose BdB startup in UberPitch this time was interested in the business idea from BdB and asked BdB to send pitch deck and more detailed information to the email address provided. Short, concise, and straight to the point, that's what I got from this UberPitch activity.

Welcome VCs and startups

Instant meetings with startup owners were welcomed by the parties venture capital. Besides being able to get acquainted with more than 250 startups in just two days, several VCs also saw the bright potential of startups following UberPitch.

Although the time given is quite short, the VC considers this opportunity to be sufficient to determine whether the startup owner is ready to share the business model offered, to future plans and other related matters.

"Overall, I see that it is still difficult to directly determine whether the startup that joined UberPitch can be invested in, however, we as VCs also offer other assistance to startup owners, starting from mentoring to introducing related parties so that the startup can move forward," said Monk's Hill Ventures representative Fiona Budiharja.

Meanwhile, for startups, this UberPitch opportunity is the first step to get acquainted with more VCs in a short time. Although it is not possible to choose which VC to target, it is hoped that with UberPitch this time, startup owners can find out what the background and portfolio of related VCs is that can support startup development.

“Actually, UberPitch is very interesting and profitable for startups, but because the process is automatic, it means that we cannot determine which VC we want to approach. If I had to choose, I really want to get to know VCs who have the same portfolio as our business,” said Arif.

This UberPitch will continue until tomorrow (10/11), from 12 noon to 3 pm in the Pacific Place area of ​​Jakarta.