Heaptalk, Jakarta — Startup Studio Indonesia (SSI), in collaboration with giant tech company IBM, has officially opened the registration devoted to the archipelago’s early-stage startups to scale up and undergo intensive mentoring.
Building on the success of graduating around 132 startups from 8 previous batches, the Indonesia’s Ministry of Communication and Information Technology (Kominfo) program will also help Indonesian startup founders achieve Product-Market Fit (PCF) and offer startups the chance to become IBM’s Official Build Partners, gaining exposure to IBM’s client base and ecosystem.
SSI X IBM’s program registration is open to Indonesia’s startups, with a focus on:
- Startups functioning as tech enablers
- Startups in the bootstrap to Series A funding stages
- Startups with at minimum six months of paid traction
- Startup interested in exploring collaborations with IBM in product and business development
“Our latest collaboration with IBM is expected to help startups achieve PMF, establish sustainable financial models, and back startups achieve PMF, establish sustainable financial models, and solidify profitability plans. We are confident that this material will benefit all early-stage startups. Hence, we invite all founders to join this national accelerator program,” Director of Digital Economy at Kominfo, Boni Pudjianto, said.
After signing up, startups will be invited to two interview sessions. By the end of May 2024, around 20 startups will present elevator pitches to the curator panel, who will then select the ten most compatible startups for the SSI X IBM program. The chosen startups will then have a Diagnosis session with the IBM and SSI teams to identify their prerequisites and product development opportunities.
“Given SSI’s track record and Indonesia’s enormous digital potential, we are ready to back and nurture the selected startups to achieve scale and drive business outcomes,” The President Director of IBM Indonesia, Roy Kosasih, voiced.
In this year’s program, the official SSI acceleration program kicks off at the end of June with the Founder’s Camp session. During this session, startups engage in group coaching with top startup practitioners to discuss steps toward achieving PMF.
Following this, startups will participate in Product Co-Creation and coaching sessions, which involve brainstorming with the IBM team, SSI Advisory Board, and Expert Coaches to discuss product, financial, sales, and startup development aspects in detail. The SSI X IBM program concludes with Milestone Day, where finalists can present their business models and achievements to all relevant stakeholders.
As additional information, Startup Studio Indonesia (SSI) has 132 alumni startups that have shown high business growth and significant traction since participating in the program. One in every three SSI alumni (32%) has successfully secured further funding, and 50% of its alumni have built strategic partnerships with private and government entities.
Collectively, funding raised by SSI alumni has surpassed USD65.8 million. These impressive milestones align with the Ministry’s goal to launch the SSI initiative, which aims to bring about 150 early-stage startups in Indonesia to new heights in 2024 regarding user base, revenue, job creation, and funding.
