Calling Founders: Kominfo and IBM Empower Tech-enabler Startups through The New SSI X IBM Initiative

JAKARTA, May 13th, 2024 – The Ministry of Communication and Information Technology (Kominfo) is opening the registration for the Startup Studio Indonesia (SSI) program, targeting early-stage startups in Indonesia eager to scale up and undergo intensive mentoring. Building on the success of graduating 132 startups from 8 previous Batches, SSI is launching a new initiative, SSI X IBM, a partnership with the global tech giant, IBM. Not only helping Indonesian startup founders to achieve Product-Market Fit (PMF), this year’s SSI program also offers the chance for startups to become Official Build Partners of IBM, gaining exposure to IBM’s client base and ecosystem.

Startup growth worldwide includes at least 50 million new startups annually, averaging about 134,000 per day. In Southeast Asia, there are more than 4,500 startups, including 52 unicorns, with a projected total valuation of 1 trillion USD by 2025. Recognizing and supporting this positive trend is essential, as is staying attuned to the evolving trends in the startup business ecosystem for 2024. Notably, investment in AI-based startups is expected to increase, focusing increasingly on the practical applications of AI. This alignment with IBM underscores our commitment to fostering innovative partnerships that propel growth and technological advancement.

SSI X IBM’s registration is open to all digital startups in Indonesia, with a focus on: 1) Startups functioning as tech enablers, 2) Startups in the bootstrap to Series A funding stages, 3) Startups with at least 6 months of paid traction, and 4) Startups interested in exploring collaborations with IBM in product and business development. Founders keen on joining this prestigious acceleration program can register on the official SSI website (https://startupstudio.id/).

After signing up, startups will be invited for two interview sessions. By the end of May 2024, Top 20 startups will present elevator pitches to the curator panel, who will then select the 10 most compatible startups for the SSI X IBM program. The chosen startups will then have a Diagnosis session with the IBM and SSI teams to identify their needs, challenges, and product development opportunities. The results of this diagnosis will form the foundation for SSI program curriculum and product development objectives.

“We are committed to always bringing practical, relevant, and tailored curriculum to startups’ needs. Our latest collaboration with IBM is expected to help startups achieve PMF, establish sustainable financial models, and solidify profitability plans. We are confident that this material will benefit all early-stage startups, hence, we invite all founders to join this national accelerator program,” said Boni Pudjianto, Director of Digital Economy, Kominfo.

The official SSI acceleration program kicks off at the end of June with the Founder’s Camp session, where startups engage in group coaching with top startup practitioners to discuss steps toward achieving PMF. Following this, startups will participate in Product Co-Creation & Coaching sessions, involving brainstorming with the IBM team, SSI Advisory Board, and Expert Coaches, to brainstorm product, financial, sales, and startup development aspects in detail. The SSI X IBM program concludes with Milestone Day, where finalists have the chance to present their business models and achievements to all relevant stakeholders.

“We are proud to be the inaugural official partner for Startup Studio Indonesia’s national incubation program. Given SSI’s track record and Indonesia’s enormous digital potential, we are ready to help and nurture the selected startups to achieve scale and drive business outcomes,” said Roy Kosasih, President Director of IBM Indonesia.

SSI has a total of 132 alumni startups that have shown high business growth and significant traction since they participated in the program. One in every three SSI alumni (32%) has successfully secured further funding, and 50% of SSI alumni have built strategic partnerships, both with private and government entities. Collectively, funding raised by SSI alumni has surpassed IDR 1 trillion ($65.8 million). These impressive milestones align with Kominfo’s mission in launching the SSI initiative, which aims to bring 150 early-stage startups in Indonesia to new heights in 2024, in terms of user base, revenue, job creation, and funding