East Ventures Continues Cultivation of Startup Companies

By | 16 January, 2012

East Ventures launched the first batch of its successful 100-day startup accelerator program, called East Ventures Alpha, with six Indonesian startup companies “graduating” from the program via a formal launch at the Jakarta Ventures Night 2012. All six companies are Internet-based businesses, with products and services ranging from mobile game development to Indonesian establishment directory and indexing.

East Ventures has provided seed funding, monthly wages, office space  and mentoring in a comprehensive program at the East Venture Technology Centre in South Jakarta, Indonesia. Over 40 hopeful applicants pitched their startup ideas to East Ventures last year, and the panel chose six companies. The venture capitalist/incubator now looks to fill the roster for the second batch of startups for the March to June 2012 schedule.

East Ventures Alpha Batch 1

These are the six startups that completed the program and presented their startup companies at the Jakarta Ventures Night 2012:

  • Promoote: This site is a guide to local services in Jakarta, where users can search and book services online.
  • Whappa Games: This company develops multiplayer mobile games.
  • Buzzle: This site provides directory listings, announcements and rewards from different commercial establishments in Indonesia.
  • Red Eclipse: This company creates flash-based games for multiple platforms — including mobile.
  • MacaMoco: This site compiles local news content and provides personalized listings based on user history and preferences.
  • Velmery: This site provides fashion-oriented recommendations for consumers who like to share their fashion choices.

Very Early Birds

East Ventures came on the scene in Singapore and Indonesia in late 2009 and right away presented their willingness to fund and back nascent companies — even just ideas of potential businesses, from the region. The founders were keen on mobile payments and mobile application developers who needed venture capital investments and guidance. With over 20 companies incubated so far, East Ventures — along with fellow venture capitalists and incubators Project Eden, Batavia Incubator and Ideosource, looks to give more entreprenuers the chance to concretize their plans and establish their companies.

Second Batch Invited

East Ventures Alpha is inviting all entrepreneurs to apply for the second batch of the 100-day startup accelerator program.

If you are ready to ride the technology world, You can simply APPLY Now and our second batch of program is going to start in March 2012.

East Ventures also announced the launch of its Angels Network — angel investors who are interested in funding early-stage Indonesian startups. It is reported that East Ventures Alpha mentors will be part of the new angels network: Zynga Japan GM, Shintaro Yamada and Cyril Ebersweiler of Chinaccelerator.



READ MORE