iMulai 3.0, an annual ICT-based business innovation competition organized by Microsoft Indonesia and USAID has brought its 15 winners to pitch in front of investors last night.
This is the first time at iMulai where the winners get a 15 minutes pitching opportunity beside receiving software licenses valued at $250,000 as part of Microsoft’s BizSpark program for IT start-ups.
The 15 winners are:
1. NyanyiYuk, an online karaoke platform with score and ranking system.
2. NgaturDuit.com, a web based financial management and planning tool.
3. Movreak, a social network mobile app for movies and cinemas in local theatres.
4. RBT Ads Network, a mobile advertising which uses Ring Back Tone (call-waiting tone) as the media.
5. MediHaste, an integrated online system for medical checkup and history data using SaaS and a cloud based system.
6. Football Saga, a social football simulation game on Facebook where user can have a career as a football player and play together with friends.
7. VirtuTrade, a trading and fund management simulation web app.
8. PrimagamaPlus.com, an online learning system for K-12 students that provides online tests and various modules, videos and educational games.
9. Ngomik, a digital publishing platform for comic authors and readers.
10. Rockto.com, a social recommendation site.
11. ProHukum, an application that supports law firm daily operations. Available as an SaaS or self-hosted app.
12. SendokGarpu, a web portal of restaurants and night life in Jakarta.
13. VeriShop, an online business verificator.
14. Inkuiri.com, a search engine for products on online local stores and marketplaces.
15. NoLimit, a social media monitoring service.
They are choosen from a total 219 participants and 50 finalists which competed from 25 January to 20 March 2011.
The status of these start-ups vary: There are 4 that are established businesses, 6 on public beta, 2 are prototypes and 3 are simply ideas. We will feature some of the winners later on Penn Olson.
Before having this pitching session, the winners had gone through a 3-day Startup Bootcamp in Jakarta. During the bootcamp, they had workshops that were useful to develop their businesses. “This event takes us to a higher level”, said Aqsath, founder of NoLimit. “We learned about financial analysis, branding, and many things. Even from the pitching session we learned so much. The investors gave us so many ideas”.
The investors were also satisfied with the winners. “One third of them are quite good. Some of them might survive well in Indonesia and some might go beyond Indonesia”, said Jeffrey Paine, one of the investors from The Founder Institute. He said that to expand to another countries, the products should be something unique and inherently could be scaled without hiring people in each country. “It needs to be pretty viral, so that people talk about you”.
The investors composition also varies: There was 1 global scale VC, 4 VCs from Asia Pacific, 1 VC from Indonesia, 1 Angel Investor from Europe and 2 Angel Investors from Indonesia. They were brought by Asia Strategic Advisory, an investment advisory company based in Jakarta, Indonesia, which is also the committee of iMulai 3.0.
The committee wanted iMulai 3.0 to be different from the previous ones by introducing winners to investors, instead of just giving cash prizes.
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