Jakarta, CNBC Indonesia – Telkomsel Mitra Inovasi (TMI), a subsidiary of Telkomsel engaged in venture capital, is committed to encouraging startup development through funding and empowerment that focuses on long-term partnerships.
CIO of Telkomsel Mitra Inovasi, William Gozali, said that since it was formed in 2019, the company’s managed funds have reached US$ 40 million. TMI too has invested in 17 companies capable of supporting Telkomsel’s business.
William said the funding sectors targeted by TMI varied, but they still had to have a strategic partnership with Telkomsel. This is because TMI is not only financial venture capital, but corporate venture capital.
“There are health care, edutech, e-commerce enabler, entertainment sectors, there are many but in the big digital lifestyle umbrella, and we can see that so far the synergy is going well with Telkomsel,” said William in the BUMN Performance Report, Tuesday (29/8/ 2023).
TMI also aims to provide funding to startups that are already in the growth stage. As is known, startup development has three stages, namely the initial stage or ideation stage, the growth stage, and the late stage stage.
According to him, TMI is not targeting entry-level startups because they still have to achieve financial gains as well as synergistic returns. Startups that are still in their early phases are not suitable for developing synergy with the parent company.
“So we hope that these startups are at a stage where they are ready to synergize with Telkomsel, so how do we target go to market, we need startups that are quite ready in terms of product and business model, so more or less the stage in series A or have reached product market fit, ” he explained.
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