Indosat, member of Ooredoo Group, has selected the first four Startups under the Ideabox programme which are ready for pitching to investors. Ooredoo announced this today after the startups went through 4 months of intense mentorship and product building.
Indosat's Ideabox is a premium accelerator that chooses three to six mobile technology start-ups every six months to go through a rigorous 120-days-acceleration programme.
Ooredoo is a leading international communications company with businesses across markets in the Middle East, North Africa and Southeast Asia. Listed on the Qatar Exchange and the Abu Dhabi Securities Exchange, the company reported revenues of US$9.3 billion in 2013 and had a consolidated global customer base of more than 95 million people as of 31 December 2013.
In its first cycle, Ideabox selected and accelerated these startups out of over 100 applicants, said the communications company in a statement. The four selected companies included Dealoka, an innovative mobile coupon application; Ngomik, a digital comics platform; Shoop!, a hyper social ecommerce platform; and Unyu a sticker based communication service for feature phones.
Companies graduating from the accelerator get priority access to Indosat's infrastructure and customer base, so they can scale-up rapidly. The programme is managed by Mountain Partners, a global technology incubator and investor. After having graduated from Ideabox, all four companies are now working closely with Indosat to launch joint bundles and promotions. In addition some of the companies are already in advanced discussions with potential investors, both local and international, for their next round of funding.
"Indosat is committed to building one of the strongest digital ecosystem in Indonesia", said Alexander Rusli Indosat's CEO and President Director. "We started seven years ago with IWIC, Indonesia's first innovation competition, encouraging Indonesian youth to be more innovative and passionate about digital technologies. We now have one of the broadest technology programs in the region, spanning the IWIC idea completion, early stage investments through Ideabox and growth stage investments through the Softbank-Indosat Fund. We will continue to develop this adding other initiatives such as crowdsourcing for digital innovation in Indonesia with other equally credible partners."
In Myanmar too
In Myanmar Ooredoo is working together with Singapore-based online start-up platform Silicon Straits, and Australian-based accelerator Pollenizer to extend its ICT innovation programme.
Following an overwhelming response, the first round of applications to Ideabox Myanmar recently closed. Later in 2014 the selected start-ups will be able to provide first wave of services to Myanmar consumers as they access the internet via Ooredoo's ultra-fast 3G network, the company said in its statement.
"As a Group we are focused on the social and economic benefits innovation can bring to underserved communities and continue working to introduce cutting-edge services in areas like, finance services, entertainment and education." said Dr Nasser, Group CEO Ooredoo. "A wave of digital development is currently transforming our day-to-day lives and no more so than here in Indonesia. Innovation is essential to keeping ahead of this and as such we are excited to have seen such early success for Ideabox in Indonesia. Having recently introduced the Ideabox initiative in Myanmar we are particularly encouraged by this display of world-class talent and hope to see this trend continue in both countries."
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