E-commerce and other internet related businesses are growing in Indonesia. Most of the entrepreneurs feel a lack of mature support system makes things hard for starting up in the country. To ensure the startups wave keeps flowing and there is a community of people supporting each other, 8 Venture Capital funds & incubators in Indonesia have joined forces to establish AVCII (Alliance of Venture Capitals in Indonesia). The alliance is founded by Cyber Agent Ventures, East Ventures, GEPI, Grupara Inc, Ideosource, Jakarta Founders Institute, Merah Putih Incubator and Mountain Indonesia. The mission is to help each other in terms of knowledge, resources, facilities, data, and information sharing within the organizations to help promote greater understanding of Indonesia’s tech industry.
They want to help and promote startups and AVCII will organise workshops to educate more entrepreneurs about investments,Venture Capitals and other venture investors. The strategy is to work together with universities, help them by supporting their curriculum on SMEs & entrepreneurship and to partner with these universities to invest in potential companies.
AVCII will establish partnership with governement and regulatory institutions too. This organization was started because of the law that might be passed regarding foreign investments in Indonesia’s e-commerce. Aryo Ariotedjo of Grupara Inc said “We know that the VC industry is too small to reason with government’s new policies or laws, but at least having an alliance is better than have nothing to represent with.”
The founding members had voted Sebastian Togelang of Mountain Indonesia as the Chairman and Aryo Ariotedjo of Grupara Inc as Vice Chairman. Andy Zain said that Indonesia tech scene needs new faces in the industry and everyone decided to have those guys as their organization leaders.
AVCII is gathering more members to join the alliance, local and foreign both. AVCII will not only consist of VCs but will also have incubators, accelerators, angel investors, and any kind of investors who support the local technology sector growth. Foreign investors are also welcome to join the alliance. AVCII will be based in GEPI’s Co-Working Space (Ciputra World). Most of the events will be hosted at Ciputra World and also at Grupara’s HQ, The Energy Building SCBD.