Skystar Capital, the venture capital arm of Kompas Gramedia, participated in the Kompas100 CEO Forum 2024: “Bersatu Menuju Indonesia Emas,” held from October 11-12 at Indonesia’s new capital city, Ibu Kota Nusantara (IKN). The event served as an essential platform to strengthen networks and foster collaboration with top business leaders from the Kompas100 Index.
Represented by Geraldine Oetama (Partner), Edward Gunawan (Managing Partner), and Abraham Hidayat (Managing Partner), Skystar Capital was joined by two portfolio founders; Yosia Sugialam (CEO & Co-Founder of Paper.id) and Ernest Layman (CEO & Co-Founder of Rekosistem). The team engaged in strategic discussions, expanded business connections, and had the opportunity to meet with key government officials, including President Joko Widodo and several ministers.
Event Highlights Attended by Skystar Capital
The Kompas100 CEO Forum 2024 featured a range of activities, beginning with an address from President Joko Widodo and the inauguration of the Presidential Palace at Ibu Kota Nusantara (IKN), a symbolic milestone in Indonesia’s efforts to develop its new administrative capital. Skystar Capital actively contributed to the “Diskusi Indonesia Bersatu” panel discussions, which featured ministers and industry experts focusing on strategies to drive business growth and investment.
The first day concluded with a networking dinner at Taman Kusuma Bangsa, while the second day began with a morning walk around Embung MBH, led by Deputy Minister of ATR/BPN, Raja Juli Antoni. This session provided a unique opportunity to strengthen relationships among participants while showcasing the natural beauty of IKN.
Skystar Capital’s Support for Portfolio Founders
In addition to expanding its own network, Skystar Capital demonstrated unwavering support for the portfolio founders in attendance. Abraham Hidayat highlighted the significance of the forum for increasing the visibility and reach of portfolio companies. “As a venture capital firm backed by many Indonesian corporates, we leverage our extensive network and expertise to create meaningful opportunities for our portfolio companies. Events like the Kompas100 CEO Forum enable them to build relationships and enhance their business potential,” he noted.
Edward Gunawan added that Skystar Capital is committed to supporting the vision and initiatives of its portfolio founders, “Connecting them with this kind of events, put them on front, put them on stage, improve their visibility, branding, also allows them build relationship and really maximize their chances for building great business relationship.”
Skystar Capital’s Vision for the Future of Venture Capital
Geraldine Oetama also shared her views on the future of the venture capital sector in Indonesia. She noted that regulations encouraging more investors to enter Indonesia would play a crucial role in accelerating startup growth. “The government has provided substantial support over the past decade, but fiscal incentives for investors could serve as a stronger catalyst for driving startup growth,” said Geraldine.
Skystar Capital is optimistic that the strategic connections and insights gained from the Kompas100 CEO Forum 2024 will have a lasting impact, both for the firm and its portfolio companies. The firm remains committed to initiatives that drive the development of Indonesia’s startup ecosystem and contribute to the country’s broader economic growth.
As Indonesia moves forward with the new presidential cabinet and policies under discussion, Skystar Capital remains optimistic about the future of the country’s startup ecosystem. With the strategic focus on Ibu Kota Nusantara (IKN) and the government’s ongoing commitment to fostering innovation and entrepreneurship, the venture capital industry is poised to benefit from new opportunities. Skystar Capital is hopeful that future policies will further support startups, providing them with the necessary tools and resources to thrive in an increasingly competitive landscape.
As the nation embarks on this transformative journey, Skystar Capital looks forward to working alongside the government and key stakeholders to continue building a robust startup ecosystem, ensuring that Indonesia’s entrepreneurial vision flourishes. With optimism and confidence, Skystar Capital stands ready to contribute to a golden future for Indonesia, where startups can grow, innovate, and lead the way towards sustainable economic growth.
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