Tuesday, August 02, 2011

Ideosource Launched, Aims to Incubate More Start-ups [INTERVIEW]

With the support we have right now in Indonesia for an individual or a team to begin their own start-up, it’s certainly an exciting time for the local tech scene. DailySocial broke the news last month that Andi S Boediman launched an incubator named IdeoSource. In an effort to try to find out more, we decided to ask Andi a few questions.

1. Now that you have launched Ideosource, how do you assure skeptics that this is not just ‘another Incubator’?

Ideosource has four pillars:
  • Consulting: bringing industrial expertise in helping enterprises improve their performance by analyzing their existing problems and developing an improvement plan and a viable proof-of-concept
  • Strategic Partnership: providing access to use intellectual properties, licenses, technology, and markets
  • Incubator: a business development process that will startup by providing hands-on management assistance, business support, access to networks needed, and shared office space
  • Venture Capital: financial capital provided for either early-stage, expansion, or bridge financing.

2. We have heard that you are supported with a board full of experienced members. Can you tell us about them?

  • Sugiono Wiyono Sugialam, Investment Committee. CEO of PT Trikomsel Tbk
  • Andi S. Boediman, Partner. Founder of IDS, former CIO of Plasa.com
  • Edward Ismawan Chamdani, Partner. Former IBM eBusiness & Financial Service Consultant
  • Andrias Ekoyuono, VP Business Development. Former GM Marketing & GM Retail detik.com

3. What will you look for in a start-up? What’s the criteria?

Ideosource invests in enterprises with particular emphasis on content, media, e-commerce, and infrastructure. Ideosource prefers to invest in entrepreneurs who are not only willing to launch and execute their big ideas but also willing to take full responsibility of the outcome.
The criterias are:
  • Fundamental capabilities
  • Market Awareness/Business Sense
  • Character / Businness Ethics

4. You have eEvent as the first start-up on the list. Why them? And what would you expect from them after the incubation process?

eEvent meets our above criteria and already have a strong product platform. We expect that eEvent will be widely accepted not only by Indonesian users, but also global users.

5. How will Ideosource incubate the start-ups? Will it be like the usual 3-month program with intensive mentorship and a demo day at the end of it?

We believe that every start-up is unique in term of product, marketing, commerce, as well as management. Thus why we will work closely with each of them in a business development process that will help startups by providing hands-on management assistance, business support, access to network that are being needed, and a shared office.

6. You are said to be one of the most experienced people in the Indonesia start-up scene, having been CIO on Plasa.com and advisor on Kapanlagi. How will this help you in searching, incubating, and earning investment from other investors?

Me and my team have both knowledge and hands-on experience in the digital industry, especially in Indonesia. These will help us in identifying what does and does not work for the Indonesian market, as well as identifying the gaps between concept, business plan, and implementation. In the incubation process, we will help start-ups in fulfilling those gaps and become fully independent and strong. We will also provide access to use intellectual properties, licenses, technology, and other investors.

7. What’s your target for Ideosource this year? How many start-up will you incubate? And how can you define success for Ideosource this year?

Our target for this year is having enough portfolios in content, media, e-commerce, and their infrastructures to complete our ‘Investment Roadmap.’ That would be a success for us.

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