When is Joining a startup incubator a perfect time for your company?

Happy young Asia businessmen and businesswomen meeting brainstorming ideas about new paperwork project colleagues working together planning success strategy enjoy teamwork in small modern office.

Incubators are designed with smaller, newer companies in mind. And, when we say “companies” here, we’re being quite generous, as most who seek out an incubator have little more than a cool startup name and a potentially powerful idea.

Join a startup incubator when you’re still putting your dream team together. When considering an incubator to apply to, research the mentors that are available. 

You should also be wary of incubators if you need funding. Many incubators do not offer investment, unlike accelerators. However, they do not usually require relocation, either, so budget accordingly.

What startup companies and entrepreneurs should expect when going through the process of applying and working with a business incubator.

1. Do your research. Not all business incubators are the same. It is important to understand the resources and services offered, the cost of being involved, and make certain the whole package matches the needs of your company. 

2. Consult alumni. Most incubators will list the companies that have gone through the process. Do your best to contact and discuss the experiences of former incubator businesses

3. Assemble your team. Business incubators look for strong founders with strong teams first, business ideas second. A startup that goes through an incubator will more than likely exit a completely different and certainly more refined business.

4. Prepare your pitch. Your pitch is how you will differentiate your startups from the other applicants and should be well prepared and well rehearsed. Keep in mind that the incubator wants companies that can succeed, not only because they have an equity stake, but also for recruiting future investment capital and promising companies

5. Determine what you want to give. As mentioned before, the cost of being accepted into an incubator is typically an exchange of equity in your company.

How a Business Matchmaking Program Like HUB.ID Can Help Startups

Gone are the days when businesses have to play by the book. Nowadays, it’s all about adaptability, which is fueled by innovations. Companies, especially startups, have to move fast to keep up with their competitors. One of the ways to do so is by joining a Business Matchmaking Program.

The newest program by Kominfo, HUB.ID, is here to facilitate businesses and investors by being a platform for connecting and inspiring each other. The process is done by a program called “Business Matchmaking”. B2match.com defines Business Matchmaking as “a method to identify and connect companies and people with common business interests, complementary services, expertise, technologies, or business strength”. 

HUB.ID is focusing on post-seed Indonesian startups to help them scale regionally by using Kominfo’s vast networking channel of government and corporate partners. Here’s how the program can help the startups develop further:

  1. It helps gather the best entrepreneurs and innovators

The exchange of ideas happens when the best minds gather. Through intensive mentoring and networking programs from HUB.ID, it is hoped that inventors will be able to apply acquired insights into their businesses.

2. Identify the people and technologies targeting your markets.

Meeting like-minded people from various lines of businesses can help startups view who’s there that target the same markets, thus increasing their competitive edge.

3. Discover challenges your company may be facing in the future

By meeting experienced startup owners like mentors that HUB.ID provides, they will be able to share their previous experience in the corresponding line of business, making the newer startups ready for upcoming challenges.

4. Connect with scaling companies

Score.org defines that scaling a business means “setting the stage to enable and support growth in your company.” Through networking and mentoring programs from HUB.ID, more than 40 partners are ready to scale up and connect and share their expertise with the startups.

5. Measure the strength of your company

HUB.ID gathers startups with Kominfo’s government and corporate partners. This, in turn, helps provide startups with the gauge against cutting-edge research and various business models.

So, those are how a business matchmaking program like HUB.ID can help startups develop further and gain expertise in their businesses. More posts to come on HUB.ID blog, so stay tuned!

How can a Business Matchmaking Program Like HUB.ID Benefits Investors?

In these years of emerging startups, many startup accelerators, and business matchmaking programs alike, are taking part not to miss the opportunity to this ever-changing world. According to an article from Harvard Business Review by Ian Hathaway, from 2010 until 2016 alone, the number of startup accelerators in the US alone had at least tripled from 50 to 172. They had invested in at least 5,000 companies.

HUB.ID, Indonesia’s newest startup matchmaking program from Kominfo, dedicates itself to enabling post-seed country’s startups to scale regionally. By doing this, startups and Kominfo’s partners, especially investors and the company themselves, will be able to collaborate to achieve their corresponding business goals.

Garnered from various sources, here are some benefits that investors can reap by joining a business matchmaking program like HUB.ID.

  1. Opportunity to Discuss Ideas

By meeting and discussing with the best innovators, investors can gain insights and apply them to their own businesses.

2. Helps Them Reach Their Goals

Quoted from matchplat.com, Gary Vaynerchuck, a US computer scientist and entrepreneur, “If a business person can understand what the other person is thinking and what their goals are, they can reverse engineer those aims and map it back to their goals. Now, this can be beneficial for both startups and investors.

3. Creating Valuable Relations

As quoted from Matchplat.com, “Establishing mutual trust by putting oneself in partners’ shoes and understanding their needs is a fundamental step in creating winning matches, and laying down the foundations for valuable partnerships.”

The networking dynamic, a term coined by Matchplat.com, where investors can delve into a partnered startup’s needs and act according to those needs, hopefully, will create a lasting and beneficial partnership. 

4. Having Integral Voice in a Company

Investors can benefit from having an integral voice by investing in small companies, especially in the early stages. This enables them to have more say and be actively involved in the startups’ decision-making by lending their business expertise.

5. Building Agile Reputation

In an “innovate or die” business world, companies need to maintain their personas to stay relevant in the business. By joining a business matchmaking program like HUB.ID, companies will learn a thing or two from agile startups. At different business development stages, and apply the needed tactics in their own companies and let the world know that their businesses are agile, too.

6. Helps Diversification

Investopedia defines diversification as “a risk management strategy that mixes a wide variety of investments within a portfolio.”

Investors can diversify their portfolios when investing in the right companies, thus increasing profitability and minimizing risks.

7. Significant Gains from Early Investments

Being quite a risky investment, when knowing the right companies worth backing, investors can benefit from the high growth that these businesses can provide in the future.

Quoted from an article from masschallenge.org, “According to the Thomson Reuters Venture Capital Research Index, overall venture capital investment has generated a steady return of around 20% since 1996. That stacks up pretty well compared to the somewhat paltry ROI for public equities and bonds – 7.5% and 5.9% respectively.” and this says a lot about what can be expected from these kinds of investments.

So those are the benefits that investors can get from joining startup accelerators and business matchmaking programs like HUB.ID. Do you think that there’s more? Stay tuned to HUB.ID blog for the latest information about the program!

Challenges and Opportunities for Startups during the Covid-19 Pandemic in Indonesia

Since the year 2019, the covid-19 pandemic has left the country’s economy devastated. Based on an article shared by CNBC Indonesia, Indonesia’s economic growth was halted by 2.97% (YoY) in 2020. On the other hand, the government has been working recklessly on giving its citizens their vaccine jabs so that the situation will soon recover. Based on the health ministry data, by September 2021, it is estimated that the total number of doses administered is at 100.7 million doses snd it is still growing.

Startups have emerged as key drivers of economic growth and job creation and are often catalysts for radical innovation. Based on an article in voxeu.org, in the US alone, Young firms like startups account for about 20% of employment. They also create almost half of new jobs on average across OECD countries (OECD 2016). Additionally, innovation by young firms contributes significantly to aggregate productivity growth, accounting for half of it in the US (Klenow and Li 2020).

Startups accelerators and incubators see startups as one thing that keeps the economy in a country moving. Apart from that, HUB.ID, as a startup program in Indonesia from Kominfo, sees the challenges that are faced by them as well. From the information that HUB.ID gathered, here are some challenges and opportunities that are expected in the pandemic:

  1. Government Relaxation that is prone to corruption and fraud

In the era of a slowed-down economy, the government frequently gives relaxation or even incentives to the citizens. In Indonesia, it was implemented by programs like Kartu Pekerja and credit relaxations. UNDP sees the government effort forced them to move fast to keep up with the pandemic. This, in turn, might cause compliance, oversight, and accountability measures to be weakened, making them more vulnerable to fraud.

2. Unemployment

Startups, like mentioned above, account for 20% of job creations. Take a look at the numbers for Indonesia’s unemployment rate. Quoted by Kompas with Data from Badan Pusat Statistik (BPS) Indonesia, unemployed people reached 8.75 million people. The numbers haven’t gotten better enough. 

Startup accelerators, incubators, and business matchmaking like HUB.ID is aware that the youth have to keep bringing innovative ideas, thus creating startups that can be birthed through HUB.ID or other acceleration programs so that these startups can create more job in the future.

3. Support existing and the creation of new firms

Pivoting and being flexible is one the things that make a business win or lose. The existing businesses have to see this pandemic as an opportunity to change how things have been done before. According to VoxEU, “startups can help the constraints created by difficult health or economic conditions, and respond to changing preferences and needs.”

As for new firms, numerous successful innovative startups have emerged from periods of crisis. The likes of Dropbox, Airbnb, Whatsapp, and Pinterest are the best examples.

4. Business Sustainability

Young business owners often pursue sustainability. They care about the future and the environment, and that’s a fact. So investing in them through this period is critical because it means more future employment and can help the government address environmental problems. HUB.ID already thought this through and has a tailored mentoring system for Government solutions to tackle issues that may arise in the future.

So those are the challenges and opportunities we are facing in the pandemic. Remember, it’s all about perspective. Even in the worst of times, you can always find a silver lining. HUB.ID, with its business matchmaking programs, is ready to assist your post-seed startups! 

How can a diverse networking program from Business Matchmaking Program like HUB.id help to maximize startup mentoring sessions?

In this gruesome competitive world of startups, companies are competing head-to-head to be the best. To add to the already chaotic scene, new startups keep emerging every day. Being in startups accelerators and incubators in the early/ seed stage is not enough.

HUB.ID understands this and wants to offer something that is somewhat different from any other startup accelerators/ incubators in Indonesia. In comparison, focusing more on business matchmaking scenes for startups in the post-seed stage, HUB.ID plan to build synergy with corporations, State-Owned Enterprises (SOEs), and government institutions.

Knowing that these startups had already raised outside fundings, HUB.ID can help them turn their focus more on the mentoring aspects of the program. With exclusive mentorships tailored to the companies’ needs, HUB.ID, as a business matchmaking program from Kominfo, is hoping that a lasting and impactful relationship can be made and nurtured, and eventually will create an impact on Indonesia’s future economy.

Documented from various sources, here are the top reasons why a diverse networking program from startup accelerators or even a business matchmaking programs like we offered through HUB.ID. can help to maximize mentoring sessions.

  1. Tailored Program

Like the accelerator program from Google, it said that in the program, experts help founders outline the top technical challenges for their startups and then paired with relevant experts from the industry to solve those challenges and grow their business.

2. Peer-to-peer (P2P) learning

According to Fabio Ziemssen from Provegincubator.com, apart from learning from the experts, startups can also benefit from learning from other startups and enjoy access to a great network.

The same thing applies here. In HUB.ID, startups can benefit from networking on a vast Kominfo’s relations/partners, be it from the most prominent Governmental organization and private-owned companies.

3. Venture Capitalists

According to Ziemssen, in the program, startups will build connections with Venture Capitalists while also “gaining expertise in product development, and acquiring know-how about company building.”

So, to make mentorship at HUB.ID more focused and perfectly tailored for each startup, we’ve gathered experts from 7 (seven) business verticals and Pitch Trainer experts. Those business verticals are the businesses that we deemed are perfect for the startup scene in Indonesia.

  1. Agriculture & Aquaculture
  2. Education
  3. Finance
  4. Government Solutions
  5. Healthcare
  6. Logistics
  7. Tourism

These are the experts who will guide the chosen startups once they make it to the program’s Business Mentoring Phase. We hope that the sessions can be beneficial to the startups as well as the mentors who joined. See you at the mentoring sessions!