Startup Introduction &

Fundraising
Rhein Mahatma / @Reintweets
Facebook.com/Rein.Mahatma
Co Founder
Startupbisnis.com Knowledge Content for Startups
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Practical help and advice for startups

Startup Introduction &

Fundraising
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Practical help and advice for startups

Introduction
Rhein Mahatma / @Reintweets
Facebook.com/Rein.Mahatma

Branch Manager Sinarmas Bank

Content & Community Manager - Marketeers (Markplus)
Content Strategist - Merah Putih Incubator (Djarum Group)
Community Manager - Plasa.com (Telkom Group)
Researcher - Batavia Incubator (Corfina Group)
Associate / Scout - Systec Group Venture
Co Founder - Startupbisnis.com
Advisor Mikimilo.com
Researching Startups success & fail pattern since 2010
Interviewed 70+ Startups & Vcs since 2010
Practical help and advice for startups

Shovel

Angel.co clone to equity base

crowdfunding platform

Startupbisnis.com partner of Skystar Venture

& Skystar Coworking Space

Startupbisnis.com partner of Skystar Venture

& Skystar Coworking Space

Startupbisnis.com partner of Skystar Venture

& Skystar Coworking Space

Startupbisnis.com partner of Skystar Venture

& Skystar Coworking Space

Previous Project
Talkmen.com
Clone of
Askmen.com
Neonan.com (CN)

Practical help and advice for startups

Previous Project
Tinker.com
Game Studio

Practical help and advice for startups

Previous Project (Canceled)

Quado.co
(Q&A Sites)
Clone of
Quora.com
Stackoverflow.com
OKWave.jp (IPO)
Sooda.jp
Askdoctors.jp
Etc

Practical help and advice for startups

Current Project
Mikimilo.com
Modified - MLM
Style Women
Fashion
Ecommerce

Practical help and advice for startups

Please

Mohon jangan mentweet nama orang/nama startup

dan angka yang saya sebutkan

Handy Chang
Rumahdanproperti.com, 1 thn, 5 miliar
Indotrading.com

Jason Lamuda, Ferry

Tenka, Eka Wiharta,

Food review 4sq-ish

(Citzel)
Disdus (Groupon.com)
Berrybenka
Bilna (Diapers.com)

Cloned Hipmunk.com, Makemytrip.com started Tiket.com

Cloned Scvngr, started Bouncity (failed)
Cloned ??? , started wayangforce (exited)

Richard Fang
Exited from Tiket.com
Started Weekendinc and printerous

Kevin Osmond

Cloned Hipmunk.com, Makemytrip.com started Tiket.com

Cloned Scvngr, started Bouncity (failed)
Cloned ??? , started wayangforce (exited)

2009 news

Exited Swinde.com (8 miliar) , 19 thn

Started Tiket.com

Benny Fajarai, 21
Kreavi.com

High valuation, refuse VC money

Problem with Kreavi ?

Latest Fundrising news

Practical help and advice for startups

OPPORTUNITY

Started by Koprol Acquisition by Yahoo (May

2010)

VCs in Indonesia 2010-2013

500 startups
Batavia Incubator (Jpn+ID)
Corfina Group (ID)
GEPI incubator (ID)
Cyber Agent Ventures (Jpn)
East Venture (Jpn)
Founder Institute (US)
Gree Ventures (Jpn)
Grupara Inc (ID)
Ideosource (ID)
IMJ Fenox (Jpn+US)
Netprice (Jpn)

In House VC (ID)
Merah Putih Incubator (ID)
GDP Venture (ID)
Mountain Ventures and
Ideabox (Indosat)
Nusantara Venture (ID)
Rebright Partner (Jpn)
Rocket Internet and Global
Founders Capital (Grmn)
Systec Group, INCYTE (ID)
Skystar Venture (ID)

Jpn portfolio > ID

portfolio

WHY

Why

Japan

Indonesia

One of the youngest Demographic

GDP Per Capita Growth

PASSIONATE SOCIAL MEDIA USERS, 20%

PENETRATION

Bisnis Model Startup : Founder harus

tahu bisnis model apa yang menarik di
market (customer dan investor)

Benchmark dengan bisnis model sejenis

Internet business cycle :
Portal
Ecommerce
Social

Tahapan internet busines di Indonesia terlambat

4-8 tahun dibanding negara maju
Semua ide kamu sekarang seringkali sudah ada
ceritanya di negara lain
Apakah ide kamu besar di negara lain ? Kenapa ?
Kalau gagal kenapa ?

Venture Capital adalah specialist dalam

Pattern Recognition
Systec Group Weekly meeting 4-6 pitch per week
Is this big idea ?
Small idea ?
Background founder ?

Pahami bisnis model

Very Proven Business Model
Already IPO in US, Japan (Ebay, Groupon, Price Comparison)
Proven Business Model
Will IPO in short times (Etsy, Glam)
Proven Candidate
Business that get fund from good VC in US, Japan

Prospect
Business that incubated by Good Incubator in US, Japan
Question Mark
Business Idea that come out from your brain and have no
proven benchmark in other country

Monetize now vs Monetize later

Monetize sekarang
Ecommerce with low burn rate,
Service
Content sales

Sample :
Tiket.com (Ecommerce)
Evoucher (Ecommerce)
Sribu.com (Crowdsource Service)
Toge production, Agate (Game
content sales)
XM Gravity (Services)
A lot small online shops
AdaDiskon (Online Media,
Ecommerce, Services)
Scoop (e-newsstall)

Monetize later (now : capital gain

focus)
C2C marketplace, social network,
price comparison, photo sharing,
something that need network
effect

Sample :
Tokopedia, Bukalapak (C2C
Marketplace)
Lazada, Zalora (Ecommerce high burn
r)
Picmix (Mobile photo editing service)
Pricearea, Telunjuk (Price comparison)
Burufly (Travel social network)

Idemu ini di luar negeri ada yang mirip

tidak ?
Di luar negeri profitnya berapa ?
Tantangannya apa di luar negeri ?
VC tidak bisa memberikan investasi kepada
founder di mana orang lain bisa
melakukan hal yang sama dengan orang
tersebut

Do your homework

Benchmark dengan bisnis model sejenis

Crunchbase.com
Angel.co
Silicontap (who buy who? Why ? Who IPO ?)
Venturebeatprofiles
Startupbisnis.net (Indonesia)
E27.co/db (Asia)
http://thebridge.jp/data/ (Asia)

Benchmark dengan bisnis model sejenis

http://www.sec.gov/Archives/edgar/data/11
17733/000119312511162782/ds1.htm

Benchmark dengan bisnis model sejenis

http://www.sec.gov/Archives/edgar/data/1125
914/000104746909000513/a2190140zs-1.htm

Benchmark dengan bisnis model sejenis

Benchmark dengan bisnis model sejenis

Fundraising
Definisi :
Mendapatkan pendanaan dari investor
untuk pengembangan usaha dengan imbal
balik berupa saham

Fundraising

Fundraising Lewat Kickstarter

Fundraising Lewat Indiegogo

Fundraising Lewat Indiegogo

Fundraising : Tidak Harus

Dibutuhkan terutama untuk mempercepat /
meng-akselerasi bisnis
Juga membangun barrier to entry
terhadap kompetitor
Bisnis model yang monetize later umumnya
perlu fundraising

Type of investors

Angels
Accelerators
Seed Funds aka Micro VCs
VC Funds
Corporate VCs (Strategic investor)

Hal-hal yang Anda butuhkan

Team
Pitch Deck
Product Demo
Financials (projections, balance sheet, cap
table)

Type dan range

Friends and Family
Rp. 50,000,000 s/d 200,000,000
Concept and team
Accelerators
Rp. 100,000,000 s/d 300,000,000
Concept and team, sometimes product
Seed Round
300,000,000 s/d 2 M
Concept, team, product and some customers/users
Series A round
2M+
Product is working well, you have good metrics, time to
step on the GAS

Fundraising tips : Memahami Winning

scenario
Dalam 3-5 tahun ke depan, saya akan menjadi
______________ saya akan melakukan
_____________ untuk mendominasi pasar

Fundraising tips : Packaging

Miliki core competence yang
sesuai ide
Mentarget market besar
Membangun advisory board
(ada advisor bagus yang
trust dengan kamu berarti
____)
Bangun partnership dengan
strategic partner dan
bluechip customer

Fundraising tips : Riset Investor

Pelajari preference mereka
Hindari orang-orang yang
sudah memiliki existing
portofolio sama
Pahami lead partnernya
Pahami valuenya
(mis.Ideabox (Indosat) dan
Kompas)

Fundraising tips : Pitching

Tell your story : Momentum, Vision, Team.
Dapatkan trust dari investor kepada produkmu,
tim dan potensi market
Dengarkan feedback dan improve gradually.
Mereka bisa saja menolak produkmu, tetap
dengarkan dan selalu lakukan improvement

Fundraising tips

If you want money ask

for advice

Anton Soeharyo (Touchten)

Good things will come to you if you raise
funds when you dont need it

Anton Soeharyo (Touchten)

Good things will come to you if you raise
funds when you dont need it

Tidak terburu-buru, luangkan waktu untuk

Shopping dan meriset VC
Semakin kamu butuh, semakin cenderung jual
murah
Ketahui seberapa sabar capital yang Anda minta

3 Macam Modal

Brain / Knowledge Capital

Social capital
Money capital (Tidak harus uang mu)

50 coffee meetings untuk mengakses ketiganya

Starting relationships today that wont pay off for
a year
http://www.bothsidesofthetable.com/2011/08/1
5/why-you-need-to-take-50-coffee-meetings/

Fundraising tips
Kondisi paling enak untuk minta pendanaan
: Spend 10 juta per bulan dapat 13 juta.
(business model validated)
Hindari dumb money (fail expectation)

Fundraising tips
Membuang banyak waktu (3 sampai 6 bulan)
Tidak menyenangkan
Distraction (gangguan untuk founder, mis :
Kaskus, Pricearea)

Sulit
Banyak startup gagal mendapatkan dana
dengan berbagai alasan

Rhein Mahatma
Facebook.com/Rein.Mahatma
Twitter.com/Reintweets
Rhein.mahatma@Startupbisnis.com