East Ventures, SGInnovate team up to build stronger regional access for startups in both countries

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East Ventures owns coworking space EV Hive, which may be used by startups in SGInnovate BASH to enter the Indonesian market, and vice versa

 

Indonesia-focussed venture capital fund East Ventures and Singapore government agency SGInnovate today announced a partnership to foster stronger regional access for startups based in the two countries.

The partnership will be conducted through East Ventures’ own coworking space and SGInnovate’s own startup space BASH.

Through the partnership, Indonesian startups looking to can use BASH as a “landing pad” for their regional expansion, and regional startups based in Singapore may also use EV Hive to enter the Indonesian market.

The partnership will also include more programs for talent and knowledge-sharing.

East Ventures portfolio companies and startups in EV Hive also have the opportunity to leverage support from EDBI, the global investment arm of SIngapore Economic Development Board.

Also Read: BetaOut to dive deeper to Indonesian market with new East Ventures funding

The support will be focussed on startups in later stage, such as Series B and beyond, in their regional expansion plan.

“When growth stage companies from Indonesia are ready to expand internationally … they can leverage EDBI’s network to access global partners and business opportunities,” said East Ventures Managing Partner Willson Coach in a press statement.

“Meanwhile, Singapore startups that are keen to participate in the growth of the Indonesian digital sector can leverage EV Hive to do so,” he added.

EV Hive currently manages two cowering spaces in South Jakarta and BSD, and has facilitated the development of 36 companies. The list also includes six companies originating from Singapore, such as Glints.

It is looking forward to build up to seven offices by end of year.

Image Credit: photosoup / 123RF Stock Photo

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Source: e27