ANGIN is also exploring similar opportunities in other regions across Indonesia
Indonesian angel investor network ANGIN today announced its expansion plan to Medan, the capital city of North Sumatra and fourth biggest city in the country.
The group is set to partner with Edy Tan, Managing Director of local incubator Medan Inovasi Bersama, to set up its local presence.
ANGIN Medan will be ANGIN’s first subsidiary, and it will be based in the coworking space Clapham Collective.
The subsidiary will begin operating in June with the goal to reach out to more investment opportunities and provide more effective end-to-end investment assistance for both startups and investors outside of Jakarta.
In a press statement, Tan cited Medan’s strategic geographic location as one of its greatest potentials. But he also explained the challenges faced by local technopreneurs to grow their business.
“Most of the entrepreneurs in Medan are trained from conventional business perspectives with a heavy focus on agribusiness. That’s why Medan … is falling behind the other big cities when it comes to the startup scene. As a result, our local talents prefer to go to Jakarta to explore the space,” he said.
He then stressed his belief that ANGIN Medan will play a crucial role in “supporting positive development” in the city.
ANGIN gathers 46 high-net-worth individuals (HNWI) who pool resources together to engage in early-stage investment and mentoring. It has invested in 23 companies in tech, non-tech, and social enterprise sector.
After Medan, the group stated that it is currently exploring similar opportunities in other provinces in Indonesia.
An example of Indonesian startup originating from Medan is cashback platform Paprika.
Image Credit: photoroman / 123RF Stock Photo
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