Jakarta, February 2, 2022 – Endeavor Indonesia, a world’s leading community of high-impact entrepreneurs and facilitates entrepreneurial ecosystem in Indonesia, announced 10 industry-agnostic startups (not fixated on one particular industry) that will participate in the ScaleUp Growth Program Batch 2. The participants are selected from 43 startups headquartered in Indonesia and/or Singapore, with Indonesia as the main market that have a minimum of $2M+ in equity funding or $2M+ in annual revenue by 2021.
Endeavor ScaleUp Growth Program is a non-dilutive* accelerator program, that gives startup founders access to resources, successful industry leaders, and dozens of mentors across Endeavor’s local and global network in order to scale the business. This program is an additional stage of Endeavor’s existing program that supports high-impact and scaleup businesses (those in the growth stage and post-series B fundraising).
The mission-driven participants came from diverse industries and backgrounds – from delivering financial inclusion for the unbanked and underserved, accelerating shrimp sustainability with tech, increasing confidence in every person with affordable and convenient lifestyle eyewear, to making genetic information as ubiquitous as blood type information, and more.
Participating startups for Endeavor ScaleUp Growth Program Batch 2 are:
- ALAMI – Dima Djani & Harza Sandityo (Financial Services)
- CoLearn – Marc Irawan & Sandeep Reddy Devaram (Education Technology)
- Esensi Solusi Buana – Gunawan & Setiadi Prawiryo (Enterprise Software & Services)
- Finantier – Diego Rojas & Edwin Kusuma (Financial Services)
- GajiGesa – Vidit Agrawal & Martyna Malinowska (Financial Services)
- Jala Tech – Liris Maduningtyas & Andi Nusapatria (Aquaculture Technology)
- Nalagenetics – Levana Sani & Astrid Irwanto (Healthcare)
- Raena Beauty – Sreejita Deb (Commerce – Retail & Consumer Tech)
- SATURDAYS – Rama Suparta & Andrew Kandolha (Commerce – Retail & Consumer Tech)
- Sekolah.mu – Radinka R. Qiera (Education Technology)
The selected startup founders will participate in a series of intensive activities ranging from 1-on-1 mentoring sessions with 60+ industry experts from Endeavor’s local and global network, Endeavor Buddy (Endeavor Entrepreneurs as peer-to-peer support), dedicated Account Manager from the Endeavor team who accompanied for three months and, ended with an in-depth panel discussion with business leaders called the High-Impact Panel.
Wayah Wiroto, Managing Director Endeavor Indonesia stated that Endeavor’s big mission is to build a thriving entrepreneurial ecosystem around the world by seeking high-impact entrepreneurs (a unique Endeavor terminology) by providing a platform to dream bigger, scale faster, and pay it forward to create the Endeavor Multiplier Effect.
“The Endeavor ScaleUp Growth program was created as an addition to Endeavor’s current track of helping larger high growth companies so that selected startups can accelerate their business growth and ready to become the next Endeavor Entrepreneur”, says Wayah.
The first batch of Endeavor ScaleUp Growth Program consists of 12 startups including the job seeker technology platform Sampingan, money transfer application Flip, digital logistics platform Logisly, social commerce platform Evermos, and modest fashion brand Buttonscarves.
In the first batch, more than 65 founders, leaders, and business executives both in Indonesia and abroad contributed 130+ hours of mentoring to the 23 entrepreneurs who led the 12 startups. Some of the business leaders as mentors and Endeavor Buddy involved in Batch 1 namely Rudy Halim (Director and Group Chief Operating Officer, PT. Lippo Karawaci, Tbk), Ratih Rachmawaty (CEO, AMAAN), Vince Iswaratioso (CEO, Dana Indonesia), Suzy Hutomo (Executive Chairperson, The Body Shop Indonesia), Gibran Huzaifah (CEO, eFishery), Iwan Kurniawan (Co-Founder & COO, Modalku) and Darmawan Widjaja (Director, PT Toyota Motor Manufacturing Indonesia).
In the previous batch, Rafi Putra Arriyan, CEO of Flip said, “Through this program, I can connect with new people who seem very far from reach. All of them provided real feedback and insights that contribute a lot to the way we view Flip’s business strategy.”
Peer-to-peer support allows businesses to grow two to three times because of knowledge shared between founders. Endeavor Buddy is one of the flagship program elements in the Endeavor ScaleUp Growth Program where participants are paired with High-Impact Entrepreneurs who have joined the Endeavor network.
Stevia Angesty, Director of Feelwell Ceramics and participant of Endeavor ScaleUp Growth Program batch 1 also mentioned that “For social enterprises like Feelwell, we tend to focus on execution and believe that our actions will speak for themselves. Our Endeavor Buddy, Kevin Osmond, CEO of Printerous convinced us to step out of our comfort zone and tell our story to the public, including those who are not our target segment. The problem we solved was so big that we needed to let other people in and help us succeed!”
*) Endeavor will not invest in the selected company/without equity
Endeavor is the world’s leading community of high-impact entrepreneurs. Founded in 1997, Endeavor is a global organization with a mission to unlock the transformational power of entrepreneurship by selecting, supporting, and investing in the world’s top founders. Today, Endeavor’s network spans nearly 40 countries and supports more than 2,100 entrepreneurs, whose companies generate combined revenues of over $28 billion US, have created more than 3.9 million jobs, and, in 2020, raised over $4 billion US in capital. Endeavor’s unique entrepreneur-first model and network of trust provide a platform for founders to dream big, scale up, and pay it forward to the next generation of entrepreneurs.
Since started in Indonesia in 2012, we have selected and supported 70 EEs (Endeavor Entrepreneurs) leading 51 companies, namely founders and CEO of Zilingo, Kopi Kenangan, Kitabisa.com, eFishery, Shipper, Female Daily Network, Waresix, Cottonink, Indonesia Bike Works, Waresix, Kargo, and many more – with the help of over 80+ business leaders in our local network and 3,000+ worldwide as mentors.