Indonesia’s Shark Tank Media Launch with TechStorm

Together with TechStorm, BLOCK71 Jakarta officially held Indonesia’s First Shark Tank Media Launch event this Monday. The event is overpacked with startup enthusiasts from diverse industries joining the discussion with special guests:  Adrian Lim (Director of BLOCK71 Jakarta), Willy Foo (Tech Celebrity Influencer), Nicko Widjaja (President of MDI Ventures) and Fajrin Rasyid (Co-founder of Bukalapak), hosted by Debbie Lee (Founder of TechStorm).

Our host opened the discussion with Southeast Asia startup investment industry, that has reached hundreds of billions USD these past few years. This has come as no surprise, as currently, Indonesia is home for four unicorn companies, expecting to reach more than ten by 2024, followed by growing startups in its neighboring countries, such as Singapore, Vietnam and more. Investment industry is expecting to grow even bigger, thus the next questions arise for the aspiring entrepreneurs, what are the hot industries worth pursuing for next years to come? And what are the Sharks looking for in the Indonesia startup scene? Here are the takeaways!

Fintech and Logistics

All guest speakers agree that the hottest industry worth pursuing right now, would be fintech. To exemplify, Gojek has its own payment service, GoPay, Grab has OVO, Telkomsel is catching up with LinkAja (formerly T-Cash), and more companies are venturing to its own payment services. Fintech and logistics are vital backbones of a lot of industries, including e-commerce, as Rasyid mentioned, which is why Bukalapak also commits to develop its fintech service. 

Mobile First Approach

Nowadays, consumers are doing more transactions on their own smartphones compared to desktops. It is a more convenient and less time consuming option for majority of people, and companies are implementing a ‘Mobile First Approach’ for new features they want to add to their application or service. Bukalapak, for instance, has a lot of features that are only available for mobile users. 

“Investment has to yield returns,” Widjaja explained. That is the most important point that early entrepreneurs tend to forget; not potential ideas, not promises, but proof that it can give returns for the investors. In other words, know your numbers! “Keep hustling,” as Lim encouraged our local entrepreneurs.

The first Shark Tank premiere will be aired on July 15 on First Media. Make sure to tune in for exciting tech and entrepreneurial ideas! For more related contents, make sure to stay in touch at BLOCK71’s social media channels on Facebook, Instagram and LinkedIn