Building the Entrepreneurial Ecosystem Part 1: Business Incubator

One of the challenges GEPI (Global Entrepreneurship Program Indonesia) faces in having workshops, events, networking nights, etc is the effort and cost involved in renting a space. Entrepreneurs also don’t have a central place to gather in Jakarta and many entrepreneurs work out of cafes to avoid high office costs.

GEPI is aiming to address this by launching a business incubator/ co-working space a la The Hub where entrepreneurs can rent a desk, network with other entrepreneurs, and get access to mentorship and lower cost services (legal, accounting, etc). We’re partnering with Founders’ Institute Jakarta and Mandiri, the largest state-owned bank, and hope to have it launched in the next few months.

There are some similar spaces already, but most of them take an equity investment in the businesses and as a result are smaller. We’re aiming to house 50-100 entrepreneurs selected through an application process, hold regular workshops and events, and have a structured mentorship program to help them develop their businesses.

The goal of all this is to help bridge some of the major challenges of entrepreneurship here, specifically the lack of management knowledge and strong/ effective networks. In the past, entrepreneurship was the bastion of well-off individuals who could afford to take such a large risk and had access to knowledge and networks, but startups are being pursued by a much wider group now who need this type of support.