Indonesia’s East Ventures has teamed up with government agency SGInnovate to enable an easy regional access for startups in both the nations. This collaboration will enable members of the two institutions to tap into networks, spaces and services of each other, in Singapore and Indonesia.
The partnership will involve the formation of a joint landing for startups in both the countries. East Ventures manages co-working space called EV Hive which is situated in two locations – South Jakarta and BSD. The place will be directly connected with SGInnovate-owned startup space BASH.
Both the spaces will act as a joint landing pad for startups based in Singapore and Indonesia. This implies Indonesian startups can use BASH as a landing pad for their expansion in Singapore, and similarly, startups based in Singapore can leverage EV Hive for a smoother entry into Indonesia.
Also, various partners in Singapore will help the EV Hive startups operating at different stages of development. The firms working at a later stage, i.e. Series B and above can take support from EDBI, the global investment arm of the Singapore Economic Development Board. East Ventures Managing Partner Willson Cuaca in a press statement, said,
When growth stage companies from Indonesia are ready to expand internationally to global markets, they can leverage EDBI’s networks to access global partners and business opportunities. Larger companies can seek help from the Singapore Economic Development Board for their regional expansion plans.
Akin to this, Singaporean startups that are eyeing Indonesian digital sector for expansion can rely on EV Hive’s network and offerings.
East Ventures is focussed on offering early stage seed capital in startups operating across South East Asia, Japan, and the US. With offices in Jakarta, Tokyo, and San Fransisco, it invests in companies specializing in commerce, social, game, SaaS, and mobile services. Prior to this, Australia had unveiled a landing pad in the Lion City for the Australian entrepreneurs to help them operate businesses.