Government-sponsored Startup Studio Indonesia (SSI), an initiative for early-stage entrepreneurs, formally began registration for the Batch 5 program.
The intensive program, designed by Indonesia’s Ministry of Communications and Informatics (Kominfo), intends to help and progress early-stage digital entrepreneurs to achieve product-market fit.
SSI has helped 65 startup alumni achieve promising results after graduating from the program, with the incubator reporting a total investment of $22.7 million in the alumni.
Following the completion of each batch, 30-40% of participants have received seed/pre-seed money.
Semeul Abrijani Pangerapan, Director General of Informatics Applications, Kominfo, said they are proud to see the achievements of SSI alumni.
“Not limited to funding, what’s more, important is that these early-stage startups can develop and have an increasingly significant impact on Indonesia’s economy and quality of life,” Pangerapan added.
Throughout the four-month program, participants are mentored by renowned startup founders, C-level executives, and practitioners from a variety of local and multinational companies, including Moses Lo (Co-Founder & CEO of Xendit), Reynold Wijaya (Co-Founder & CEO of Modalku), Gibran Huzaifah (Founder & CEO of eFishery), Dimas Harry Priawan (Co-founder and CEO of Dekoruma), and
Verihubs, LingoTalk, and Soulparking were just among the startups that have benefited from the program.
Justika and Praktis, Finku, Gajiku, Keyta, and Fishlog, among many others, have profited immensely from the SSI program, gaining growth, direction, experience, and tangible results, with some getting Seed Funding.
Verihubs, Deall Sejuta Cita, Finku, and Sribuu were also chosen to represent Indonesia at Y Combinator, an American technology startup incubator.