Wednesday, 19 January 2022 | 17:56 WIB

Malaysian Startups Explore Business Expansion Opportunities in Indonesia

Malaysian Startups Explore Business Expansion Opportunities in Indonesia (special)

JAKARTA, NETRALNEWS.COM - Ydigital Asia is set to officially start the fifth batch of EXPAND Indonesia program, in collaboration with Malaysia Digital Economy Corporation (MDEC). A total of seven Malaysian startups would be hosted in the FintechSPACE, Satrio Tower during the course of a week from 25 to 30 November 2019. 

The seven startups are Accendo, Eco Community, NexPlatform, Parkit Solutions, Sonicboom Solutions, Subhome Management, and Supplycart. After five virtual classes conducted in the previous weeks on the subject of Introduction to Marketing & Advertising in Indonesia, Legal and Regulatory Compliances, Business Expansion, HR practices and Investment climates in Indonesia, the seven startups are now ready to commence their journey into the Indonesian startup ecosystem.

In the next one week, all twelve participants from the seven startups are going to conduct meetings with venture capital firms such as Kejora Ventures and Monk's Hill Ventures, and potential partners and clients from major property and tech companies. These activities are part of the second stage of EXPAND Indonesia, where the objective is to establish business connections and gather market validation in the span of a week.

"It is important to build good cross-border relationships, and so we are glad to have the opportunity to host and provide the necessary resources and connections. Even though the program ended today, our door will always be open as we look forward to continue our collaboration with Malaysia its great companies," said Peter Haarmark, CEO of Ydigital Group.

Keasavan Hari Krishnan, Market Engagement Lead, Growth Ecosystem Development of MDEC, stated:  "This collaboration has created market access opportunities for Malaysian startups to validate and expand their presence in Indonesia. The companies that participated in EXPAND Indonesia definitely have a scalable business model, and have the potential to scale further regionally. Through this cross-border initiatives, MDEC thrives to develop a vibrant startup community across Southeast Asia, and will continue to build an innovative ecosystem."

This is the fifth batch of EXPAND Indonesia with the biggest number of startups participating from various industries. Ydigital is looking forward to replicate the program on a bigger scale and reaching startups from other nations, and form a strong partnership to foster the startup ecosystem in Indonesia. 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.

YGROUP, established in 2014, is an award winning digital transformation house. With over 30 employees, the company has worked with household brands and early-stage startups that have gone on to become industry leaders in the region. YGROUP has offices in Singapore, Kuala Lumpur, and Jakarta, and serves clients across the world. YGROUP is preferred partners of industry leading advertising platforms and technology providers like Google, Facebook and Hubspot. YGROUP has facilitated the first five cohorts of Expand Indonesia in collaboration with MDEC and Kejora.

Meanwhile, the Malaysia Digital Economy Corporation (formerly known as Multimedia Development Corporation) is a unigue organization established to direct and oversee MSC Malaysia, the national ICT development initiative, by advising the Malaysian Government on legislation and policies, developing industry-specific practices and setting the standards for multimedia and digital operations. MDEC is also responsible for promoting MSC Malaysia locally and globally, whilst providing strategic support to MSC Malaysia Status Companies.