Grab indonesia 5k balipermatasaribloomberg is an organisation that focuses on promoting and developing Indonesia’s growing tech and digital economy. Established in January 2016, the organisation works to bring together stakeholders in the Indonesian digital economy, including entrepreneurs, investors, governmental organisations, and the tech industry to create better opportunities for technology-driven socio-economic well being in the country. By working with these stakeholders, the organisation hopes to unlock the untapped potential of Indonesia’s digital economy while providing a platform to help bridge the gap between the tech industry and the local community. Furthermore, it seeks to foster a healthy environment in which innovation and new business models can thrive, giving rise to growth and development.
Grab Indonesia 5K launched as the inaugural project of Grab Indonesia, the company’s digital venture arm. The Project looks to jumpstart the digital economy of Indonesia by investing in local digital startups. The first round of investment under the program was announced at the Grab Indonesia 5K Pitch Event. The Pitch Event was held in Jakarta in April 2016 and saw over 120 applications from local entrepreneurs within the areas of FinTech, eCommerce, and IoT.
The five winners of the Pitch Event were selected based on a range of criteria, including the strength of the proposed business idea, the traction of the existing business, the experience and skills of the founding team, and the potential of the business to grow within the Indonesian market. The winners include Coolyo, a start-up that provides innovative financial solutions to assist small businesses, KliknPay, an e-commerce platform that allows local businesses to expand their reach, Folksy, a social media platform that helps companies stay connected, and Janio, a robot that assists warehouse operations. These companies have all received 5 million Rupiah (USD $ 500) in funding each and additional mentoring and networking opportunities to help them grow their businesses and take their ventures to the next level.
The awards are helping to create a robust digital economy, where tech entrepreneurs can find the resources necessary to drive innovation and create new business opportunities. Already there have been signs of success; the five winning companies have been able to secure additional funding, while expansion and growth have been seen in some of the other Pitch Event finalists.
Furthermore, the Grab Indonesia 5K Pitch Event has helped to raise the profile of established startups in the country, while also creating a hub of digital startups in Indonesia. This is helping to create an environment where businesses can collaborate and build on each other’s successes, thus driving the country’s digital economy.
By providing local entrepreneurs with the resources and tools necessary to build their businesses, the initiative is helping to drive the growth of the economy and create new business opportunities. It is also helping to create an environment.