Start-up Asia Jakarta 2014
These two days before my birthday were so exciting… Let me tell you the details of Start-up ASIA held by TechInAsia.
Day 1 – 26 November 2014
Be ready to meet Asian start-up heroes!
Many great speakers in Asian tech-startup came to this place. There were booths at bootstrap alley to show up the start-up products, two rooms (world domination room and kickstart room) for seminars, venture room (for speed dating – where start-up meet the investor, meet the media, office hour – to know possibilities of joining start-up into the big-company program, hiring day), and and the most interesting room…food alley! :p
At the first day, Andy Zain (Mountain SEA ventures), Ferry Unardi (Traveloka), Ken D.L (Kaskus), Anthony tan (GrabTaxi), Rick Mulia (Twitter), and Sonita Lontoh (Sillicon valley Asia technology Alliance), etc., were on stage in world domination room. From the first speaker, we realized that we must first fix fintech (Financial technology) in Indonesia to gain numbers of eCommerce customers or to enable creative producers in music, games, etc. Traveloka was another success story, that was accelerated by Rocket Internet guys. On the other hand, local start up heroes, like OLX, Kaskus, and KLN (Kapan Lagi Network) told their stories on how to crack the code in Indonesian market. Kaskus at the beginning tried to adapt and follow what the users want. Their main intention is to keep their number of users high. These three start ups predicted that in the next few years, eCommerce in Indonessia gonna be BIG! But, now the trend is kinda focus in vertical side, means focus on small rings, like selling only fashion, or only cameras, cosmetics, etc.
Meanwhile, in Kickstart Room, there were many useful seminars for early-stage start-ups (so I spent lot of time in this room for the 1st day). We could learn from the co-founder and CEO of Tokopedia, Wiliam Tanuwijaya. They raises US$ 100 million recently and became the #1 open marketplace in Indonesia. He shared about attracting the best talents in Indonesia. Always hire the ‘A’ players in your company! That’s what the wisdom said. But, in reality, what if even the ‘E’ player do not want to work in yours?? Well, hey, this is Indonesia, not Silicon Valley where everybody’s happily work in start-ups because they always question “who will be the next FB” “what can be the next Google” and some kind-of-those…
Willian Tanuwijaya also said that to retain your employees, you must be a leader who has a sincerity like a teacher but has a great willingness to learn like a student. What are the qualities of a teacher?
- – Communicate well
- – Develop our team, in the way we develop our students
- – Sincerely. Can you imagine of an alumni reunion… Normally, at that situation, each tries to ‘show-off’ – “Hey, I’m now in bla..bla.. bla..” or “Hey, you’re now a Manager in…” or “I heard you’re being promoted..” bla3.. But their teacher just watched silently and sincerely. What do the teacher feel? Of course, PROUD.
“..be a visioner, not a dreamer.”
Because a dreamer dreams with closed eyes, but a visioner dreams with open eyes.
The most exciting seminar in the first day for me is “Stage Pitching” from Khailee Ng (managing partner from 500 startups). Previously, he was in Groupon and 500 startups has been invested in Catcha group, malesbanget.com, and bukalapak.com. As we all know, to steal the heart of investors, start-ups must do a stage pitching in 3-5 minute session. So how to master the 3-minute pitch and bring that pitch effect? He showed us the clues!
Your pitch must make people feel:
- “I want to know more.”
Always lead your pitch with traction and don’t put that traction at very end (don’t waste your time with lengthy introduction). Introduce from costumer’s perspective, like “Our start-up help customer in …[what way]”
2. “That’s great idea.”
Amplify problem, again from customer perspective (how the solution works). Extract the stories and say in about 10 seconds. You can juxtapose from qualitative and quantitative sides for maximum effect. You can also compare with big-number of market opportunity, with emotion.
3. “This is going to be huge.”
Use bottom-up calculations. You can start with saying the number of customers you reached, and target of costumer you’re dreaming to reach within bla3 years. You can add, how big will the business be, if we can reach that number. Put some calculation of $$$ on it.
4. “This is the team to do it.”
There is no use to introduce the name and background of each member in your team! you’re just wasting time. Focus on core competencies you’re required to WIN. Show that your team have the quality to win! For example, “He have been in this industry for.. years. He has global experience…in this skills, bla3..”
5. “I want to be part of this”
Put emotional effect on your dream, such as “What are you waiting for. You can be our ambassador.. you can be our sponsor.. bla3..”. Summarize your best and key-highlight. Don’t forget to say, what kind of investor or exact help your start-up really need?
Day 2 – 27 November 2014
Some of the speakers in the last day were Daniel Tumiwa (idEA), Nabilah Alsagoff (Doku), Hanifa Ambadar (Female Daily Network), Fazal Bahardeen (Crescent Rating), Paul S (aCommerce) and Peter V (Rovio). Parallel with seminars in World domination room were the Demo day of selected developers from Hackatron.
Fazal from Crescent Raiting spoke about growing business in muslim consumer market. Faith is increasingly influencing muslims’ purchasing decisions. Some of the products can be digital Quran, digitized umra, or halal-food-friendly. Recently, he also launched HalalTrip, an app that makes the trip can be muslim-friendly (is there any halal food on plane, etc).
Bpk. Rudiantara, Indonesian ICT minister was on stage during lunch-time. He discussed about ITE regulations and how government tries to improve the tech-start-up ecosystem in Indonesia.
The hottest topic in the second day was the discussion from Rocket Internet (RI) ‘graduates’: Steven Kim (Qraved), Fung Fuk (Rupawa, Lazada), and Juan Chene (Foodpanda, Zalora Singapore). Most of the Rocket-internet-backed ventures agreed that SPEED is the key-factor in Rocket Internet. There is no time to validate ideas, only taking business model and just execute! What lessons learned from RI is that because of that ‘speed’, there is lack of company-culture-building. RI only wants to play BIG! At first, they start to hire many staffs to speed-up the process (the cost is huge). You have to sprint like crazy to achieve targets. Data orientation is so important for RI, every single channel was assessed in daily basis to make sure that they grow gradually (20-30%/month).
“TIMING to the market is super important.”
Another interesting talk is from the mighty eagle ROVIO. Angry Bird came from student project and they did not expect that the result will be this big. Today, ROVIO is not only about gaming, but also movies, animation, and consumer product with $ 2.5 billion revenue. He advised us to do great products (make it stand out) and be serious on branding and marketing.
“Try to build the game that we love to play”
The last and the-most-wanted session is Start-up arena where 10 start-ups from across Asia battled pitching on stage. There were bareksa.com, triip.me, playroll, u-Hoo, iGrow, pembantu.com, etc. …and the winner is iGrow! They bring home US$10,000 and Startup Asia Champion Trophy. Congrats!!🙂
This event really inspired me to follow my dream… Wish I can build and grow my own start-up, too… :p #dreaming #someday . Aamiin…