The first batch of our full 4-week online tech startup incubator, #DSLaunchpad, is officially over! The results are very satisfying, and we feel proud to be able to participate in spreading the startup mindset throughout Indonesia. At the end of this program, there were 93 startups that were successfully launched and pitching to VCs.

Here's what we learned from the intensive 4-week program:

Bias between Founders from Jakarta vs Non-Jakarta

Founders from outside Jakarta are no less impressive than those in Jakarta. To be honest this is the problem we are trying to solve from the start. One of the reasons behind our initiative to do this program. As it turned out, our hypothesis proved correct.

During the program, we learned that founders from outside Jakarta were no less active than founders in Jakarta. The energy they transmit is equal. The gap may appear in the level of knowledge of the startup world, but the problem is quickly resolved once the program and mentoring begins.

We are very pleased with the quality of the products launched by the founders of this program, including those from outside Jakarta who are always considered inferior in the eyes of investors. One of the founders from outside Jakarta has even received seed funding from investors in just a few weeks after the program was launched, using techniques pitch developed by his mentor during the program. Amazing isn't it!

Not everyone can be a Founder

Don't get me wrong: anyone can start a startup/company. However, being a founder/founder is an issue in itself. The difference? Those who seek excuses vs those who produce results.

This is not something that can be forced, and I am against the perception in society that entrepreneurs are better than employees/professionals. That is not true. We all have goals, and being a founder/employee/professional is the way to reach that goal. One thing is not better than another.

However, IF you decide to become a founding father, what you achieve/complete becomes the most important thing. Especially in the early stages when you don't have a dozen teams doing everything for you. Then, during the program, we communicated to the founders as best we could that channeling our energies to deliver results was the best effort, rather than making excuses. Customers like your product, or not. They don't want to hear excuses.

Market research determines life and death

Number 1 startup killer: nothing product market fit. No surprises there. Why? Specifically in our case, this is due to a lack of research. It could be that the founders know how to do it but choose not to, or they simply don't know how. Fortunately, this became the main topic for the first week of the program. More than half made significant adjustments, some pivot, some even start from scratch after doing proper market research.

Again, there were many good ideas developed at the beginning of the program, but after doing further research, they found that the market was not that big, did not grow, there was no money, some founders even found that there was no market at all . So they adapt.

Innovation can be improved

Successful with program completion rate at 98%, Net-promoter score at 68%, 93 startups launched after the program ends (this number increases from the 42 startups at the start of the program). There are so many ideas and innovations generated by this program, in a very short time (4 weeks). Also, at very minimal cost, proving that with the right knowledge and tools, you can earn innovative product on a large scale.

This will be very useful for Venture Capital and corporations/enterprises. Instead of spending months looking for the ideal startup to invest in/partners with, why not participate and collaborate from the start?

As a thought.