Last week, the Australian Trade and Investment Commission (Austrade) organized the Indonesia-Australia Business Week and invited several Australian delegates from different industry backgrounds to explore business opportunities in Indonesia. And who would be a better partner to host them than Kejora?
We were happy to welcome the CEO of Austrade, Dr Stephanie Fahey, together with 14 delegates under the Financial and Technology sector at our headquarter in Slipicon Valley last Thursday. Kejora, a place where great minds come together and even greater ideas are born, is home to the highest accumulation of fintech startups in Indonesia. Among them: Compare88, Pawoon and Investree, whose founders shared their experience and expertise during the visit of Austrade.
Why fintech was, is and will be a “sexy” sector in Indonesia? “There are already many opportunities for startups to exploit and we will see more of them in the future,” says J.P. Ellis, Founder and CEO of Compare88 Group, South East Asia´s largest financial comparison e-commerce group, and initiator of Fintech Indonesia, the Indonesian financial services technology association. A fast growing market with increasing demand, current regulations, and national financial inclusion programs are only a few of these opportunities. Adrian Gunadi, Co-Founder and Chairman of Investree, the leading peer-to-peer landing platform in Indonesia, stressed the importance of startups in developing the fintech sector further. Adrian, who has a background in the banking sector, emphasizes the flexibility and speed as main advantages of new ventures to adapt to the fast-changing market conditions. However, it is crucial to build a bridge between the corporate and the startup sector in order to create a win-win situation for everyone. Many big organizations seek the advice from innovative startups and – vice versa – startups need the established companies in order to grow. “Kejora aims to be the facilitator in building this bridge”, so Andy Zain, Co-Founder and Managing Partner at Kejora.
Australia is not the only country that has directed the spotlight onto Indonesia to explore business opportunities abroad. However, many foreign investors face difficulties in setting up a company here. Yacademy, one of Kejora´s portfolio startups, has identified this problem and presents a solution: The digital education platform offers a two-week market immersion program which is designed to help in overcoming these challenges. So we might see some of the Australian delegates back here at Kejora soon.
In answer to the question of how Kejora has been successful in building a growing ecosystem of successful tech startups, Sebastian Togelang, Co-Founder of Kejora, concluded the sharing session: “We learn by doing”.