UMG Idealab plans to invest in 20 Indonesian startups in 2019

Having previously invested in 11 startups from Indonesia, UMG Idealab, a Corporate Venture Capital (CVC) which is a subsidiary of UMG Myanmar, in 2019 plans to provide refinancing to startups from Indonesia.

The plan is that UMG Idealab will invest in 20 Indonesian startups targeting the IoT, Big Data, AI, Voice Recognition and of course Agritech sectors. ticket sizes $50.000 - $1.000.000.

In last October, the company has invested in Biotika and in November to our language.

UMG Idealab has two business lines. The first in Myanmar is an incubator that helps startups start their business. While the second is in Indonesia in the form of Corporate Venture Capital (CVC) which funds startups with funding seed funding.

UMG Idealab's efforts to focus on Indonesian startups are shown seriously by providing seed funding to startups, according to their focus as CVC agnostic, even though business agriculture startup will always have more value to the company. To date, UMG Idealab has funded startups in Myanmar, Indonesia and Thailand.

UMG Center of Excellence further plans

According to the previous plan, UMG Idealab plans to establish a UMG Center of Excellence in Indonesia. Later this facility will be built in the Bangunkerto area, Kec. Turi, Sleman. This facility will function as a laboratory for various Agro-Biotech research activities, research on agricultural equipment, fisheries and animal husbandry, as well as research on various matters related to technology in the agricultural sector. If it is in accordance with the target, in 2019 the UMG Center of Excellence will be built in Indonesia.

"Right now we are finalizing the permits to be established in Yogyakarta and will soon build the building, but for... projects / research Currently it is running," said the Founder of UMG Idealab, Kiwi Aliwarga.