Three Indonesian Social Problem Solving Startups Visit Japan to Pitch to Potential Investors and Business Partners in Japan
Demo Day, an investor pitch event for Project NINJA, a startup support project implemented by JICA’s Indonesia office (see note below), was held on February 16, 2023, at JICA headquarters in Kojimachi, Tokyo. The event was attended by a total of 70 participants from Japanese investors and business companies, both at the venue and online, who engaged in lively discussions with the three Indonesian startups that came to Japan to create innovations to solve social issues.
At the beginning of the session, ANGIN, an Indonesian social entrepreneurship support network that has been entrusted with this project, explained the attractiveness of the Indonesian market and the current trend of impact investment. The three startups on stage this time all aim to solve social issues such as climate change and food loss through the power of business: Bell Society, which uses bacteria to make leather from coffee bean skins and other waste materials; Surplus, which operates a mobile app that sells food products near their expiration date at low prices; and Surplus, which uses bacteria from coffee bean skins to make leather, and Carbon Ethics, which helps companies decarbonize through mangrove plantations, presented their solutions and engaged in business networking with participants. Participants in the business networking session commented that the pitches by the three startups showed the momentum and appeal of emerging economies in Asia, where economic growth is continuing.
After the launch of this project in September 2022, we received applications from 215 startups, and as a result of the selection process, the above three companies with both business growth potential and social impact were selected. Since then, they have received coaching from mentors with expertise in business development, fundraising, and social impact evaluation, and during this one-week stay in Tokyo, they have also held business meetings with more than 10 potential business partners in Japan in conjunction with this event.
JICA will continue to create innovation between Japan and Indonesia through startup support, aiming to solve social issues utilizing the power of business.
(Note) Project NINJA (Next Innovation with Japan) was launched in January 2020 as JICA’s startup ecosystem building and entrepreneurship support activities to create business innovation in developing countries.
Three startups that pitched (in order of appearance)
Company 1 Bell Society
Company Overview
Targeted social issues are food loss and climate change (fall under SDGs 12 and 13)
Biomaterial leather is developed and produced from coffee bean flour and other organic waste. The leather is sold as bags, shoes, and wall coverings. The company sources coffee and organic waste directly from cafes, restaurants, and coffee farmers. Developing both its own brand and collaborations with partners in Indonesia, Hong Kong, and other countries. Within the next two years, the company plans to expand the scale of its operations and global network so that it can collaborate with brands around the world.
Company Website
Second Company Carbon Ethics Targeted social issue is climate change (falls under SDGs 12, 13, and 14) Company Overview Targeted social issue is climate change (falls under SDGs 12, 13, and 14) The company supports companies and individuals to take action against climate change by calculating carbon dioxide emissions and conducting community-based carbon offset projects (mangrove planting). The company has already established partnerships not only with Indonesian companies, but also with European and U.S. companies. In the future, the company plans to enter the global market for certified carbon credits and to expand its business field to include blue carbon and other climate change measures.
Company Website
The social issues targeted are food loss and climate change (SDGs 2, 12, and 13) Company Overview The social issues targeted are food loss and climate change (SDGs 2, 12, and 13). A mobile app marketplace that allows restaurants and retailers to sell overproduced meals and food items at discounted prices has already achieved 100,000 downloads. Restaurants and retailers can generate revenue from products nearing their expiration dates and reduce waste management costs, while consumers can discover good quality, edible food at affordable prices. The company plans to expand its business beyond the food domain to include everyday items.
Event
Materials
For inquiries, please contact
Kazuki Sakamoto, JICA Indonesia Office
Email: Sakamoto.kazuki@jica.go.jp
© Source JICA
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