Mandiri Capital launches summit to ramp up fintech innovation in Indonesia

By Yon Heong Tung for e27

Indonesian state-owned Bank Mandiri has grand aims to build Indonesia into a regional hub for fintech innovation.

Last year, it launched US$37 million VC fund Mandiri Capital Indonesia (MCI) to invest in startups, with a particular focus on payment, lending, and SME solutions. And in June this year, it launched an incubator to nurture fintech companies.

The six-month programme brought in 44 non digital and 14 digital startups, some of which were finalists of several Indonesia-based business competitions such as Bank Mandiri’s own Wirausahawan Muda Mandiri (WMM) digital category, Mandiri Hackathon, and also student members of Young Indonesian Entrepreneur Association (HIPMI). Incubatees will receive not only funding support but also access to the Mandiri Group Network and Mandiri Group’s large database of customers.

Come November this year, MCI is launching FINSPIRE: Summit 2016 to assemble the region’s fintech community.The summit will also feature FINSPIRE:Frontrunners, a pitching programme that will see hottest new Indonesia fintech startups pitch in front of investors and mentors.

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10 shortlisted startups will undergo coaching in workshops. They will come under the tutelage ofDinie Yulia Manahera, Head of Investment, MCI; Eddi Danusaputro, CEO of MCI; Sam Hall, Program Director, Startupbootcamp and many more mentors yet to be announced.

Selected startups will then be able to pitch at the summit’s semi-finals and finals.

The top startup will stand to win IDR 125 million (US$9,500) prize money, enter MCI’s incubation programme as well exhibit Echelon Asia Summit 2017 for free.

Beyond that, FINSPIRE: Summit 2016 attendees will have the opportunity to interact and network with industry players in the regional fintech space.

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The workshop will be held on November 7 at the Mandiri Inkubator Bisnis, and the summit on November 9 at the Soehanna Hall.

Interested parties can register here. Registrations close on November 6.

First appeared at e27