Working Towards the SDGs: Introducing Indonesia’s Impact Startups that Scale

December 4, 2019

Singapore, 28th November 2019 – The United Nations Development Programme (UNDP), in partnership with 500 Startups, held ImpactAim Indonesia : Demo Day at Google Developers Space in Singapore as part of the United Nations Sustainable Development Goals (SDGs) initiative.

Nine Indonesian start-ups participated including KitaBisa, iGrow, Tech Prom Lab, Qlue, Sehati, Sampingan, Mycotech, Indexa Law  and InfraDigital Nusantara. Collectively, these companies have permeated Indonesia’s education, legal, government planning and healthcare systems, and have distributed over US$50M to lower-income individuals, over US$10M to farmers, and created over US$18M in savings to schools, transforming several lives.

They also have revenue pipelines of up to US$30M, and have previously raised more than US$6M from prominent VCs, angel investors, and tech companies.

They were chosen to join the ImpactAim Indonesia program in September 2019, where they were assisted in scaling-up their companies and impact measurement. In addition, over the past 10 weeks, ImpactAim Indonesia has held workshops and mentoring sessions covering lean data management and growth strategies.

ImpactAim Indonesia’s Demo Day is the culmination of the program, where the inaugural cohort pitched to high profile investors and regional corporations, financial institutions, family offices, angel investors and leading venture capital firms.

Indonesia is recognized as a growing market for impact investing. Between 2007-2017, impact investors including fund managers, family offices and impact-focused angel networks have simultaneously deployed USD 148.8 million across 58 projects. The UNDP Innovative Financing Lab exists to overcome institutional and market challenges, develop high quality pipeline of venture-addressing impact ventures, and provide them global access to impact funds.

We are seeing some of the most devastating issues plaguing people, and as the problems get more interconnected,  we realize we are not enough to address these large scale challenges. We need to scale up our solutions - and sustain them. The world has changed, we need to adapt – quickly!” said Muhammad Didi Hardiana

500 Startups, a Silicon Valley-based global venture capital firm invested in more than 2,400 companies in 75 countries, including Indonesian unicorn Bukalapak, and 40 other Indonesian startups. They have also accelerated more than 1,000 start-ups via its accelerator programs in the Silicon Valley and globally.

“As the world’s problems escalate, so does the opportunity to create value. Technology unlocks this. We want investors to see that there’s money to be made by solving the biggest problems in the biggest markets. This first Indonesian cohort helps returns-savvy investors see what’s possible!” said Khailee Ng, Managing Partner of 500 Startup.

For Further Information, Please Contact:

UNDP Indonesia’s Innovative Financing

Team Leader

Muhammad Didi Hardiana