After rewarding an amount of funding to a number or female entrepreneurs a couple times ago, the Angel Investor Network Indonesia (ANGIN) allows entrepreneurs to apply for their funding once again. This time, ANGIN confirms that the funding they provide would be much more significant than their first one, and anyone may apply, regardless to their gender.
ANGIN Women Fund is a non-profit program which is carried on by the Global Entrepreneurship Program Indonesia (GEPI). The organization becomes the very first network of angel investors available in Indonesia, consists of Indonesia’s high profiles, including Shinta Kamdani, Nellie Akili, Tience Sumartini, Noni Purnomo, Lanny Angkosubroto, Gail Aluwi, Sheila Tiwan, Svida Alisjahbana, Lillie Tanmizi, Mee Kim, Ati Sugiharti, Cindy Djojonegoro, Magda Hutagalung, Millie Stephanie, and Tina Gunawan.
At the first round, ANGIN provided up to $50 thousands for each startup. Those who successfully sealed the funding were WangsaJelita, Berry Kitchen, and Marguerite Nougat. At this second round, ANGIN provides funding which is claimed to be four times bigger than the first one, as it would be up to $200 thousands for each startup.
Interestingly, ANGIN doesn’t limit the applicants based on their gender in this round. It may well mean that male entrepreneurs may also apply for the funding. This is quite shocking, since ANGIN’s vision is to empower Indonesia’s female entrepreneurs right from the beginning.
To realize such noble vision, ANGIN has never stopped attempting to give the startups its assistance, which ranges from awarding them with seed funding to capacity building and monthly mentoring session. Currently, the organization is also attempting to expand its business coverage to reach offline-based businesses. However, It doesn’t stop the organization from granting online entrepreneurs.
The registration period of this second round of funding itself would last until October 11, 2014. To be eligible for the funding, startups must reach several conditions that ANGIN has set. Those requirements are: the business must be in its starting phase and older than 6 months; unique and has social, economic, and cultural impacts to Indonesia; possesses a strong competition strategy as well as the capability to grow; has a visible business strategy; and has a committed management team.
Soon after the registration period is officially closed, 10 chosen companies will get their chance to have a pitching session in front of the angel investors in the beginning of November. For you who are interested to join, you may check here.
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