Startups industry in Indonesia is growing very fast since 2015. The startup’s hype inspires especially fresh graduate for creating their own startups rather than looking for a job. The Indonesian government also encourage entrepreneurship trough Badan Ekonomi Kreatif (Bekraf), one of themost popular programs is Gerakan 1000 Startup that has been promoted in 10 Cities.
This new trend, of course, must be supported by the ecosystem stakeholders. I see the opportunity not only as a startup founder but as the mentors and advisors. How’s big the opportunities as the mentors and advisors in the ecosystem? There will be a lot of opportunities as advisors and mentors. I divide it into several segments:
Advisors and Mentors directly to Founders
This is the most obvious opportunity as mentors and advisors. Indonesia has around 1975 startups based on the data in startup rankingtoday. It’s the fifth rank all over the world, but I believe it still has a huge opportunity to grow because compare with Canada with only 36,71 Million they have 2,433 startups. I assume at the end of 2019, Indonesian will have around 2,000-2,500 startups.
With the assumption, most of the startups founder mostly under 35 and dominate by fresh graduate it is a big market for advisors and mentors since they lack industries experiences, networks etc.
Advisors and Mentors trough Incubators and Accelerators Program
This is another potential market for mentors and advisors, based on the data of Asosiasi Inkubator Bisnis Indonesia (AIBI)there are 94 incubators all over Indonesia listed by 2016. I assume in 2019, with the growth of startups industry, and many more international incubators come to Indonesia. The numbers may be now around 100-120.
Connect with venture capital for mentoring their portfolio
There are more than 16 Venture Capital that established in Indonesia, and they have their own startup portfolio that will be the potential client for mentors and advisors.
Advisors and mentors for policymakers national and local government
Indonesian government really support the growth of the startup ecosystem in Indonesia. Some ministries and department try to make accelerator program in their sectors, and you can’t ignore also the local government some of them are very keen on developing the creative economy in their area. Indonesia consists of 34 Provinces, 415 regencies, 1 administrative regency, and5 administrative cities based on the data from Wikipedia.
I found the latest information from Tribunnews7 local government (provincial and regency level) already committed of creative industry; Bali, West Java, Gianyar, Denpasar, Pekanbaru, Deli Serdang, Banjarbaru.
Alliance with the business consultant
When I did networking in Australia I met KPMG and PWC team. I quite surprised because they now also have the team for handling startups business. They become the consultantsfor startups when they want to expand in new countries. It just rings a bell for me, it means they need the local people who know the market, consumers behaviors, local rules, and policy.
Foreign Country Representative and Trade Council is another potential market
The Indonesian market is very sexy with more than 260 Million peoples and fast-growing middle class. A lot of countries, of course, want to penetrate in the Indonesian market, and some countries really facilitate and encourage their businessmen to Indonesia. It is a big opportunity for advisors who have deep knowledge of what’s work for the Indonesian market.
When I do mapping of the opportunity, I am quite surprised with many opportunities that I never think before. In the end, I can’t tackle all of this. I will concentrate only on certain things. First I will only be mentoring and become an advisor of 10 startups in one year. The rest I will focus on the project based and become speakers on occasional based for Incubators, and Venture Capital.
But I really look up and build more capabilities on helping foreign countries representative and business consultant for advising startup business that wants to expand in the Indonesian market. It’s a long shot that I need to build the networks, and also competencies and capabilities. I predict it will take 1-2 years to go to that point.
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