This highly successful initiative helps Malaysian startups plan and execute a successful market entry into Indonesia. Edvance officially welcomed six Malaysian startups in Jakarta: Innovate Mental Arithmetic, Epnox Technology, Sales Candy, Monster Alliance, Travelog and Billplz.

Once in Indonesia, the startups commenced the second part of the program, which includes meetings with leading Indonesian ecosystem leaders, business mentoring and opportunities to pitch to local investors.

Edvance organized an intensive schedule of networking events with Indonesian organizations and venture capitalists such as Kejora Ventures, East Ventures and Ideosource.

The program’s objective is to provide a soft-landing pad for expansion, with a successful market entry as the main goal.

Previous editions of the program have generated successful market entries, improved cross-border ASEAN collaboration and spurred regional growth. This is the third edition of the Expand Indonesia program run by Edvance, in collaboration with the Malaysia Digital Economy Corporation (MDEC).

Prior to their market entry to Jakarta, the six startups were inducted through an intense week of virtual classes and two weeks of diligent preparation through rigorous workshops covering regulations and business trends in Indonesia.

“This program is designed to connect Malaysian startups with well-experienced industry players in Indonesia, ranging from enterprise executives to successful entrepreneurs to the government. We aim to introduce the teams first-hand to all aspects of the benefits and challenges that they will face in the Indonesian market,” said Arne Van Looveren, CEO and founder of Edvance.

“The Malaysian business landscape may not be so different from Indonesia. However, with this program, we get to identify the slight differences in our user behaviors that the startups can adapt to before scaling up their businesses here,” said Andreas Surya, vice president of Investment and Portfolio at Kejora. “We can apply these valuable insights to other markets regionally.”

The partnership between MDEC and Edvance forges a unique path to ensure solid collaboration between nations to bolster the Southeast Asian startup ecosystem. Given its successful track record in Indonesia, there are plans in the near future to roll out the program to other countries in the region.

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