Heaptalk, Jakarta — Mandiri Capital Indonesia (MCI) has successfully launched its initial overseas Xponent program in Bangkok, Thailand. This program has engaged 95 startups across three batches, signed 12 MoUs, and involved 25 business units within Bank Mandiri and its subsidiaries.
In performing the program, the Chief Executive Officer of Mandiri Capital Indonesia, Ronald Simorangkir, delivered that MCI employs two approaches: identifying the firms’ internal needs and mapping the right startups, followed by introducing innovative solutions from startups to Mandiri’s business.
“MCI ensures that the collaboration brings a value proposition and aligns with Mandiri’s business focus,” Ronald added.
This Bank Mandiri’s investment arm has launched the XYZ program to enhance its strategic investment impact, which includes several targeted initiatives, including:
- Xponent facilitates startup expansion by unlocking market access and strengthening business alignment between startups and Bank Mandiri’s business units.
- Xchange, an innovation benchmarking activity conducted by visiting various innovation labs abroad.
- Y-Axis provides a platform for startups to expand their networks to investors, tech communities, state-owned enterprises, and corporations.
- Zenith is a four-month acceleration program aimed at business growth for startups through a curriculum of mentoring workshops and the creation of synergy with the Mandiri Group ecosystem. Besides providing insights and networks to startups, the program also integrates them business-wise with the Mandiri Group.
“To solidify our position as a global VC leader, we aim to support international startups entering the Indonesian market through ecosystem and knowledge sharing,” said Chief Investment Officer of Mandiri Capital Indonesia, Dennis Prastistha.
As is known, MCI’s Xponent program was officially launched at the fintech conference Money 20/20 Asia from 23rd to 25th April 2024. The agenda brought together industry leaders and startups from Indonesia, Thailand, the Philippines, Vietnam, Singapore, Japan, Australia, China, and Hong Kong.
The attendance of founders from another country emphasized MCI’s move to integrate startups and international enterprises into the Mandiri Group’s extensive resources. At the Money 20/20 Asia, MCI also partnered with its nine portfolio startups and Zenith finalists, spanning Mekari, KoinWorks, AyoConnect, Delos, iSeller, Kecilin, Fishlog, Imajin, and AI Rudder, to showcase their product and pitch business ideas.
Aiming to foster value creation and investment opportunities through collaborative partnerships, Mandiri Capital Indonesia boasts a portfolio of over 20 startups from 14 verticals, including lending, B2B value chains, and payment enablers.
