Meet the Jakarta Startup Ecosystem

After we had our first online event last month, last week we held our first offline event as a Co-Host with Founder Institute Jakarta and Apiary. Incredibly excited 50ish Pax with 4 super pumped panelists of FI Mentors sharing their invaluable insights (FI event detail here).

Context

Starting a business in Jakarta is both thrilling and challenging. As fellow founders, we know that turning an idea into a thriving startup requires not just passion but also practical guidance and the right network. That's why events like our recent partnership with Founder Institute and Apiary are invaluable.

A Power-Packed Panel Discussion

Our event featured a stellar lineup of panelists:

Meutia Adryana - CEO and Founder of STEB Asia
Sirly W. Nasir - CEO and Founder of SWN PR & Advisory
Teddy Setiawan - CEO and Founder of Uruz (formerly CEO and Founder of Cashlez)
Rizki Suluh Adi - CRO of Everywhere.id and Founder of Harbolnas 12-12 Indonesia
Aviandri Hidayat - CPO of Mekari

The purpose of this event was to demonstrate the depth of knowledge and experience of these accomplished founders, who are also mentors for the Founder Institute Jakarta's upcoming batch in September 2024. Their insights not only serve as a guide for current and aspiring entrepreneurs but also set the stage for the rich mentorship and learning opportunities that await in the next program.

Key Takeaways from the Panelists

Meutia Adryana: Overcoming Financial Challenges Meutia shared the hardest part of her entrepreneurial journey: maintaining the company's liquidity, particularly ensuring that employee salaries were paid on time each month. Starting STEB Asia during the pandemic while in Germany added layers of complexity. She emphasized that financial stability is critical for a startup's survival. Her advice? "Focus on your cash flow management and be prepared for unexpected financial challenges. It's not just about raising funds but managing them wisely."
Sirly W. Nasir: The Power of PR Sirly, with her expertise in public relations, shed light on the significance of storytelling for startups. She explained that crafting a compelling narrative can make or break a brand. "Your story is your brand's soul. It's what connects you to your audience,". She encouraged founders to invest time in developing a strong PR strategy from the outset.
Teddy Setiawan: Navigating Co-Founder Relationships Teddy shared lengthy, detailed stories of his immense experience as a founder, discussing the highs and lows of the startup journey. He put particular emphasis on the importance of co-founder relationships, drawing from his background in banking. "Everything needs to be put down in writing," he stressed. Teddy explained that clear agreements and documented expectations are crucial to avoid misunderstandings and conflicts. His stories illustrated how proper documentation and transparent communication with co-founders can make or break a startup.
Rizki Suluh Adi: Balancing Family Concerns Rizki, a pioneer of Harbolnas 12-12, spoke about the challenges of explaining his career to his mother. He highlighted that family concerns are a common hurdle for many entrepreneurs. "If we can't explain and make them understand that we can manage, it won't alleviate their concern," he shared. Rizki emphasized the importance of clear communication with family members to help them understand the startup journey and the founder's ability to navigate its challenges.
Aviandri Hidayat: Product Vision and Value Positioning Aviandri brought insights from his role at Mekari, focusing on the importance of continuous product innovation. He highlighted that in today's fast-paced market, staying relevant requires relentless innovation and user feedback integration. "Listen to your users; they are your best source of innovation," he noted. Aviandri also emphasized the critical role of having a clear product vision and value positioning. "Your product vision sets the direction, and your value proposition tells your customers why they should choose you over others. Both need to be clear and compelling," he explained.

The Interactive Session: Engaging and Informative

The Q&A session was a highlight, with participants posing insightful questions that led to deep discussions. Topics ranged from scaling strategies, securing funding, marketing tactics, to managing team dynamics. The panelists' candid responses and practical advice resonated well with the audience, sparking new ideas and perspectives.

The Networking Session: Building Connections for Future Collaborations

The networking session was another highlight of the event, proving to be exceptionally effective. Founders, investors, and mentors mingled, exchanged ideas, and explored potential collaborations. The atmosphere was buzzing with energy as everyone got to know each other, laying the groundwork for future partnerships. The session facilitated meaningful connections, allowing participants to expand their networks and uncover new opportunities for growth and collaboration.

What's Next

The event underscored the value of community and shared knowledge in the startup ecosystem. As we continue our journey, partnerships like those with Founder Institute and Apiary are crucial in providing the support and resources needed to navigate the startup landscape. We look forward to meeting up and catching up with you again next time. Let's keep learning, sharing, and growing together.