- High-impact entrepreneurship is key to economic growth and job creation
- Endeavor Indonesia hosts the 3rd Scale-Up Indonesia as a platform to promote high-impact entrepreneurship
- The event includes Mega Scale-Up Clinic, a multiple speed-mentoring session, where 300 entrepreneurs and mentors from South East Asia are paired to discuss key challenges in scaling up their business
- Indonesian high-impact entrepreneurs, among others, Niki Luhur (Kartuku), Aldi Haryopratomo (RUMA), Hendy Setiono (Kebab Turki Baba Rafi), and Odi Anindito (Coffee Toffee) are listed as mentors, giving back to the ecosystem by mentoring their younger entrepreneurs
Jakarta, 24 March 2016 – Endeavor Indonesia, an organization that focuses on building a strong entrepreneurial ecosystem in Indonesia through high-impact entrepreneurship, hosted its third annual Scale-Up Indonesia today. Over 600 business leaders, young and seasoned entrepreneurs, investors, professionals, and other key players in the entrepreneurial ecosystem were participating in this one-of-a-kind event. The third Scale-Up Indonesia consists of Mega Scale-Up Clinic and a gala dinner. Mega Scale-Up Clinic is a one-on-one speed-mentoring event, where entrepreneurs have the opportunity to consult their business challenges with mentors from Endeavor Indonesia’s network and beyond, and to make connections with investors and business leaders.
“We believe that high-impact entrepreneurs can create a virtuous cycle of entrepreneurship, which in the long run will lead to a sustainable economic development of Indonesia. Scale-Up Indonesia is here to celebrate high-impact entrepreneurship, provide a platform to create stronger culture of high-impact entrepreneurship and build stronger entrepreneurial ecosystem,“ said Harun Hajadi, Endeavor Indonesia Board Chairman.
Harun explained that when it comes to entrepreneurship, quality matters more than quantity. In Mexico, for instance, it would take 273,000 new micro enterprises to increase the country’s GDP by 1 percent — but it only takes 105 mid-sized high-impact companies to reach the same goal. In addition, a 2009 World Bank survey found that only 16% of Indonesian companies were scale-ups but they created 52% of the net new jobs during the previous three years.
“These high-impact entrepreneurs are visionaries who generate the highest returns, create the most high-value jobs, have the most significant impact on their communities, and inspire the most people to follow their lead. Especially with the establishment of the ASEAN Economic Community (AEC), high-impact enterprises are even more significantly needed as Indonesia will serve as the hub of ASEAN’s entrepreneurial ecosystem,” Harun added.
Based on International Labor Organisation (ILO) in 2013, from 2013 to 2020, Indonesia needs to create more than 17 million new jobs for young people. “High-impact entrepreneurship is key to answer this employment challenge,” Harun said.
The Scale-Up Indonesia is part of Endeavor’s supports to foster the growth of the kinds of entrepreneurs through collective knowledge sharing of its network to the larger entrepreneurial ecosystem in Indonesia and beyond. “Mentorship, networks and connectivity are essential factors in creating a conducive entrepreneurial ecosystem. Entrepreneurs need to get knowledge and guidance from mentors and connect them to supporting networks,” said Sati Rasuanto, Endeavor Indonesia Managing Director.
In emerging market such as Indonesia, entrepreneurs still face considerable barriers to growth: few role models, a lack of trust, a limited pool of quality management, an inability to access smart capital, and insufficient contacts. Through mentoring and a supportive ecosystem, Endeavor allows entrepreneurs in Indonesia to scale-up, helping them to cope with such challenges. The organization has screened thousands of entrepreneurs in Indonesia and selected and supported 22 of them as Endeavor Entrepreneurs.
Head of Creative Industry Agency (Bekraf) Triawan Munaf also expresses his opinion on the importance of entrepreneurial ecosystem to support high-impact entrepreneur in Indonesia. “Bekraf aims to create a strong foundation for entrepreneurs in creative industry to grow, as they have great potentials to contribute to economic growth. There are at least 16 sub-sectors under the agency, and we do not want to keep focusing only on some of them. Several subsector such as culinary, fashion, and crafts have showed significant contribution to the economy, however for some others, there is still huge room for improvement. We need comprehensive programs to support all subsectors proportionally and equally. Thus, any initiatives that can help entrepreneurs to accelerate their businesses are always welcome. We believe a program that opens access to mentorship and networks such as Scale-Up Indonesia can help growing Indonesia’s creative economy.”
A 2011 research by The Start-Up Genome Project, a Silicon Valley-based initiative, found that entrepreneurs who have helpful mentors, track progress effectively and learn from experts in the field raise seven times more money and have three and one-half times better user growth. Currently, there are more than 50 business leaders, entrepreneurs and professionals join the movement as mentors in Endeavor Indonesia network, including Husodo Angkosubroto (PT. Gunung Sewu Kencana Chairman), Suzy Hutomo (The Body Shop Indonesia Chairwoman), Bernard Saisse (Microsoft Indonesia CMO & COO), and Martin Gil (Coca Cola Indonesia President Director). Meanwhile, among the thoroughly selected Endeavor Entrepreneurs are Niki Luhur (Kartuku President Director), Anton Wirjono (The Goods Dept CEO), Odi Anindito (Coffee Toffee Managing Director), Achmad Zaky (Bukalapak Founder and CEO), Hanifa Ambadar (Female Daily Network CEO), and Hendy Setiono (Kebab Turki Baba Rafi President Director).
This year, Maybank Indonesia, one of the leading private banks in Indonesia, is the lead sponsor for Scale-Up Indonesia. The bank sees that the objectives of the event are aligned with their mission to support entrepreneurship ecosystem in Indonesia. “Our mission in humanizing financial services means that we will always be in the heart of the community, empowering people through provision of financial services including to entrepreneurs. Maybank and Endeavor share a common goal to empower entrepreneurs, which is the very reason why we are pleased to be collaborating with Endeavor,” said Taswin Zakaria, the President and CEO of Maybank Indonesia. The 3rd Scale-Up Indonesia is also supported by Axa and Axa Mandiri, and Microsoft Indonesia.
Mega Scale-Up Clinic
The Mega Scale-Up Clinic will bring together over 280 entrepreneurs and mentors from Indonesia and South East Asia. Through the one-on-one multiple speed-mentoring sessions, entrepreneurs have the opportunity to discuss with mentors their scaling up challenges. The participants will also have the opportunity to mingle with mentors, investors and fellow entrepreneurs who are keen to learn, share and collaborate at the networking session.
The entrepreneurs are mostly start-ups and the mentors are seasoned business leaders and entrepreneurs, as well as senior professionals with a wide range of expertise including talent management, fund raising, technology, food & beverages, creative industries, etc. Generating over 700 consultations and around 360 mentoring hours covering 13 topics, the Mega Scale-Up Clinic is recorded by Museum Rekor Indonesia (MURI) for the Most Number of Consultations Held in One Location.
Endeavor is a global entrepreneurship movement with footprints in more than 25 countries, from Latin America, Middle East, North Africa, South Africa and now in South East Asia. Since its establishment in 1997, Endeavor has become the forerunner in the field of high-impact entrepreneurship, selected 1,233 high-impact entrepreneurs from 779 companies. Combined, our entrepreneurs generate $7.7B of revenues and have created 506k high-quality jobs. In Indonesia, Endeavor is 4 years young, and have screened over 2,000 entrepreneurs, selected and supported 22 of them. More information on our mission and the entrepreneurs we support can be found in www.endeavor.org and www.endeavorindonesia.org. Like us on facebook: Endeavor Indonesia and follow us on twitter & instagram: Endeavor_Indo.