East Ventures to Invest US$500K in Winners of Its Hackathon for Laid-off Tech Talentby Fintech News Indonesia December 21, 2022
Indonesia-focused venture capital firm East Ventures announced that it has selected 30 teams from its hackathon programme for laid-off tech employees, PASTI BISA, Maju Terus Pantang Mundur (IDPB MTPM).
The programme received a total of 270 submissions where 120 shortlisted teams went through 11 days of coaching and hackathon in a hybrid format with East Ventures and other experts in the industry.
The 30 teams selected were Aksata, AYANGKU, Barengan, BotaNize, Cios, Disanitasi, Dole, Fellas, Foodtrition, God Army, Hello, HomHub, IJO, Kommodity, Meramu, Middleboard, MIG, Montiro, Mutual, Qelas.id, Repax, Sak Kula, SAMA ERP, Sampai Pinter, SOCIO STARTUP INDONESIA, Solopreneurs AI, STEVOR, Sweetlift, Tryvel (Berpijar), and Tulisno.
The winning teams received a total funding of IDR 7.5 billion (approximately US$500,000) in the form of uncapped convertible notes, including other benefits and perks from the programme’s partners.
IDPB MTPM comprises two main features namely its coaching and hackathon programme as well as its job board.
The job board currently remains active where over 700 job openings are listed through the IDPB website.
“Indonesia PASTI Bisa Maju Terus Pantang Mundur is proven to be a fast and practical initiative in supporting the impacted talents in the tech ecosystem amidst the hard times.
IDPB MTPM has become a platform for aspiring entrepreneurs to develop their business ideas and MVPs, meet directly with expert coaches and connect with like-minded participants as they kick-start their entrepreneurial journey,”
said Avina Sugiarto, Partner at East Ventures.