Technology Seed Incubation Co., Ltd. (TSI), one of the leading incubation companies in Japan, has signed a partnership agreement with GK-Plug and Play, one of the leading Corporate Innovation Services in Indonesia. The partnership aims to expand support for startups in Indonesia. The partnership will start with the launch of J-Connect Indonesia (JCI) accelerator program that aims to provide opportunities for Indonesian startups to build connections and access to Japanese capital. Through this program, Japanese investors and Indonesian startups are expected to establish collaborations. Indonesia ranks 5th as the country with the most startups in the world, which attract foreign investors. Based on this fact, TSI is keen to contribute to the startup ecosystem growth in Indonesia by providing fundraising support.
Indonesia’s Startup Development
According to the Startup Ranking 2022, the number of startups in Indonesia is over 2,300, making it the fifth largest in the world. The fact that Indonesia occupies this rank indicates promising future growth potential. On the other hand, Japan is considered one of the largest sources of startup investment. According to Statista, the amount of funds invested by Japanese investors in startups reached 332 billion yen or approximately 2,5 billion dollars in 2021. Thus, the Indonesian startup market, which is expected to grow continuously, becomes an attractive investment destination for Japan, which has great financial resources.
About GK-Plug and Play
GK-Plug and Play is a global innovation platform established in 2016 that aims to connect startups, corporations, and investors. GK-Plug and Play is the largest Open Innovation platform in Indonesia that provides Corporate Innovation Services in the form of mentoring, networking, and investment opportunities for startups. As one of the leading Corporate Innovation Services in Indonesia, GK-Plug and Play has partnered with major Indonesian companies, such as Astra International, Bank BNI, Nestle, and Enterprise Singapore. Until now, GK-Plug and Play has a portfolio of approximately 50 active startups.
J-Connect Indonesia (JCI) Programme:
JCI is an accelerator program organized by TSI and GK-Plug and Play to assist Indonesian startups in expanding their business to Japan. The program, which lasts for three months, targets over 100 startups. The main activities are seminars, mentoring, investor meeting, and demo day in July.
Technology Seed Incubation Co., Ltd. (TSI) is a Japanese company located in Kyoto and Tokyo that facilitates business development through various services. They specialize in cross-border M&A advisory, fundraising advisory, and business research services. TSI also offers support for overseas companies that are seeking to enter the Japanese market, which includes market research, localization, and regulatory compliance guidance. Our operations span across Japan, South East Asia, India, and Africa, and we are backed by a data hub center named Growtheater (https://growtheater.work/en/), which serves as a platform connecting Japanese enterprises with overseas firms.
Through Growtheater, companies can explore investment opportunities, business consultation, and strategic partnerships. More information about TSI: https://tsi-japan.com.
GK-Plug and Play is a branch of Plug and Play Tech Center, which is part of PT Gan Inovasi Solusindo. They have partnered with major companies in Indonesia to support the development of startups in various industries. More information about GK-Plug and Play: www.gkplugandplay.com.
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Read the full press release here.