Eight venture capital firms in Indonesia have just formalized an alliance today in Jakarta. Called Alliance of Venture Capitals in Indonesia (AVCII), the organization aims to share, collaborate, and act on issues regarding the technology and internet-based business landscape in Indonesia. Immediately, the first order of business is to deal with the uncertainty surrounding foreign investment regulations in the country.
As we reported earlier, the Indonesian Investment Coordinating Board have decided that the 2010 Negative Investment List which covers retail businesses now also applies to companies conducting online trading. This has caused a lot of concerns among the investment community as well as entrepreneurs and companies wishing to set up e-commerce sits and services.
The formation of AVCII is intended to “help each other in terms of knowledge, resources, facilities, data, and information sharing”, according to the announcement sent to DailySocial. The organization also aims to help entrepreneurs understand more about the nature of investments, and to help them find ways to “grow scalable companies”. The founding members are CyberAgent Ventures, East Ventures, GEPI, Grupara Incubator, Ideosource, Jakarta Founder Institute, Merah Putih Incubator, and Mountain Indonesia.
AVCII plans to work with universities and the government to establish a clearer picture about the online industry, about entrepreneurship in the tech scene, and to assist in any effort by universities and the government in investing and advising companies aiming to break into the field.
Membership of the alliance is open to any local and foreign investment institutions and individuals who wish to enter the Indonesia tech industry or are already operating in the space. AVCII will be based at GEPI’s upcoming co-working space at Ciputra World in Central Jakarta which will host many of the organization’s events as well as at Grupara’s head office at The Energy building in South Jakarta.
AVCII is headed by Sebastian Togelang of Mountain Indonesia as the Chairman with Aryo Ariotedjo of Grupara Incubator as the Vice Chairman. The selection of Togelang and Ariotedjo to head the alliance is to provide the industry with fresh faces and approaches. Andy Zain of Skybee and Mig33 said that “Indonesia tech scene needs new faces in the industry and every decided to have those guys as the organization leaders”.
We have sought further comments from the association regarding its formation.
DailySocial is a portfolio of MerahPutih Incubator
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