Heaptalk, Jakarta — Wahyoo Group has launched Wahyoo Ventures to connect investors and Indonesia’s MSMEs and maximize their businesses, particularly in the food and beverage (F&B) sector.
Indonesia’s Minister of Tourism and Creative Economy, Sandiaga Salahuddin Uno, during the launch of Wahyoo Ventures stated that this initiative encourage creative players in the F&B industry to continue to innovate and broaden their business reach, particularly those based on Sustainable Development Goals (SDGs).
“Through this opportunity, I urge players in the Indonesian culinary industry to participate in Wahyoo Group initiatives,” the Minister Sandiaga Uno said.
According to the Central Bureau of Statistics, the country’s food and beverage industry contributed 6.5% to the national GDP in 2023 and employed almost 43%. Nevertheless, the country’s culinary industry still faces challenges related to capital. Around 71% of MSMEs still rely on their family’s capital. Meanwhile, access to banking is only 16%. For this reason, the presence of Wahyoo Ventures is expected to link investors with MSMEs regarding funding assistance.
Concurrently, this F&B startup also introduced the Roadshow Competition “Unleashing F&B Potential” as part of Wahyoo Ventures’ program in collaboration with FoodStartupIndonesia. The competition was held on 2 -22 May 2024, in six cities, including Yogyakarta, Solo, Bandung, Jakarta, Surabaya, and Malang. This program accepts participant registrations of around 500 MSMEs per city and will be curated into 100 candidates to participate in this competition.
Through this event, Peter conveyed that culinary entrepreneurs can present their flagship menus and show business models, aiming to discover the foremost MSME candidates in Indonesia to obtain 4M facilities, including:
- Mentoring, guidance from culinary experts provision
- Management tools, assisting them to maximize their operation through the business management system
- Market access, allowing the winner to explore new business channels both online and offline
- Money, unlocking financing access to boost their business performance
“Wahyoo continues to innovate to help MSMEs in the Indonesian culinary sector expand their business internationally. The launch of Wahyoo Ventures will be a temporary bridge program for the Roadshow Competition as one of our strategies to attract local MSMEs to develop their potential.” The Founder and CEO of Wahyoo Group, Peter Shearer, said.
Established in 2017, Wahyoo develops digital applications that include distribution and sales network solutions. The company’s services have served more than 27,000 businesses spanning fulfillment and sales networks. In 2022, Wahyoo seized Series B funding round worth US$6.5 million from multiple investors, spanning East Ventures, Indogen Capital, Intudo Ventures, NH Absolute Return Partners Evowood, Nitto Prima Ventura, and Global Brain.
