Indonesian incubator GEPI graduates six startups, mainly fintech
The Jakarta-based program also had Tokopedia CEO Willian Tanuwijaya share his startup story
Startup incubator programme Global Entrepreneurship Programme Indonesia (GEPI) today celebrated the graduation of its six incubatees in a pitching and networking dinner event in South Jakarta.
Of the six incubatees that graduted from GEPI this year, there seems to be a trend of fintech companies that are providing solutions for women.
There is Live Olive which helps women make better financial decisions by providing a platform that helps them get the right insurance plan for their needs. The platform makes the process of contacting and purchasing insurance from agents more seamless and effective.
Jocelyn Pantastico, Founder of Live Olive recalled a story about a woman who failed to redeem her late husband’s insurance because his plan only include death by accidents, while the husband himself died of natural causes.
“This story makes me really angry. We are determined to help women make smarter decisions about their finances,” she said.
There is also Taralite who is providing soft loans for weddings and family needs such as college tuition and Haaj pilgrimage.
“When you look at the fees needed for weddings or home renovation, they don’t seem too expensive. But if you look at the average income of Indonesians, it is just impossible to afford,” said Abraham Viktor, CEO of Taralite.
Other incubatees are SquLine, an online platform to learn foreign languages with native speakers; Hexaday, a customer relationship management solution; Jurnal, accounting software for small businesses; and Nusantara Development Initiatives, which empowers women in villages to make solar-powered lamps.
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A little advice
Also present for the event was William Tanuwijaya, CEO of Tokopedia, who shared his life story through a keynote.
He spoke about how as a young man from the North Sumatran village of Pematang Siantar, he had to spend time working in an Internet cafe while studying in a university in Jakarta.
Tanuwijaya recalled the experience as life-changing as it introduced him to the wonders of an Internet business. He then began developing pitches for what would become Tokopedia and faced rejection from many potential investors.
“One actually told me to not dream too high, because I was not born special like Steve Jobs or Bill Gates,” he explained. “This inspired me to dedicate myself to help people start their businesses.”
For young entrepreneurs aspiring to follow his footsteps, he has only one advice, “this is the era of the underdog. Remain humble in your heart.”
The incubator also introduced new members of the Angel Investment Network Indonesia (ANGIN), which includes Senior Journalist Desi Anwar and Stephanie Hermawan, Founder of Arbor & Troy.
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