Jakarta – The Indonesian Ministry of Tourism and Creative Economy (Kemenparekraf/Baparekraf), in collaboration with UMG Idealab and ALTIRA, announced the launch of the HighPitch 2020 National Startup Pitch Competition on Monday (19/10).
The event – the first pitching competition organized by Kemenparekraf that connects venture capital firms (VCs) with Indonesian startup ecosystem in 2020 – is currently accepting applications for all Indonesian startups and SMEs that have the high potential to grow and positively impact their users, customers and the industry as a whole.
Indonesia-based entrepreneurs are urged to apply for the challenge on High Pitch website and to be eligible, they must implement the following systems or technology in their business models and involved in 25 industry sectors to meet the criteria and requirement.
Director of Access to Finance of the Ministry, Hanifah Makarim, said the competition is evident that despite the ongoing pandemic, people are still able to work creatively in an effort to boost the economy. “The economy still has to move and one of the means to do so is by holding an online competition such as HighPitch 2020, which aims to connect start-ups with sources of capital or financing from venture capitals and investors,” said Hanifah.
UMG IdeaLab Founder, Kiwi Aliwarga, meanwhile hails the competition as a mutually-beneficial event that will further strengthen VCs and startups network with Kemenparekraf as one of the industry’s key connectors.
“As one of Indonesia’s active venture capital firms, UMG IdeaLab pays great concern about the development and interfacing and interaction of startups with investors such as VCs as we go through the pandemic. We are honoured to be invited by the Ministry of Tourism and Creative Economy and this is our way of giving back to the community,” said Kiwi, hoping the event will serve as a stepping stone for Indonesian startups to rebound in 2021.
Adriani Onie, ALTIRA’s Founder & CEO, said that despite this challenging time, she believes Covid-19 has taught and encouraged companies and founders to think more about resilience and sustainability, and to balance them with growth. “I have seen it time and time again from my experience in the US, Australia and Asia, how difficult situation and economic downturn would give birth to the best of innovation and companies that will later emerge as leaders in their field.”
“As an investment platform and innovative-finance advisory firm backed by global government emerging market funds and impact investor, HighPitch is aligned with ALTIRA’s mission to help democratize entrepreneurial capital and accelerate early stage investing in Indonesia. We are honoured for being trusted to support HighPitch 2020,” said Adriani.
Adding expertise and values in the competition as partners are Amazon Web Services, Compasslist, GK-Plug and Play, Shinhan Future’s Lab Indonesia and the Indonesian Venture Capital Association for Startups (Amvesindo).
The application for High Pitch 2020 National Startup Pitch Competition is live on High Pitch website (https://highpitch.id/). The deadline to apply starts on Monday 19th October and closes on Tuesday,3rd November 2020.