In the ever evolving startup ecosystem, turbulence is inevitable. But it’s in these uncertain times that clarity of vision, founder resilience, and smart capital make all the difference. Abraham Hidayat, Managing Partner of Skystar Capital, believes that the current environment isn’t a reason to retreat, it’s a moment to recalibrate.
“A job is not just about earning an income. It’s also about creating an impact,” Abraham says, reflecting on his personal journey.
Before entering the world of venture capital, Abraham started as a software developer , breaking down problems, building systems, and optimizing code. That curiosity and desire to build better systems still fuel his work today. “I get to work with great founders with big dreams. That’s something I’m deeply passionate about.”
Weathering the Gloom: Finding Growth in Transition
Despite the noise, news of economic downturns and global uncertainty, Abraham remains optimistic.
“Our industry continues to thrive,” he notes. “There are a lot of exciting developments happening on the ground.”
He points to the impact of everyday innovation. Ride hailing apps, for example, have revolutionized transportation. “Ten or fifteen years ago, even getting a cab was uncertain. Today, it’s at your fingertips.”
Startups like Carro, which simplifies buying and selling cars online, and Komunal which digitizes rural bank deposits, demonstrate how technology not only improves lives but expands access to financial solutions. “A lot of people previously didn’t have access to these services,” Abraham adds.
Meanwhile, software as a service (SaaS) businesses in the Skystar portfolio are quietly transforming SME operations. “We’re seeing companies onboard a thousand customers per semester. Ten years ago, that would take two to three years.”
Catalysts for Growth: Founders with Purpose
In tough markets, the difference lies in founder intent. Abraham emphasizes that a startup’s “why” is more important than ever. “If someone’s doing this just to make a quick buck, it won’t work right now,” he says candidly. “The pressure is too high.”
Instead, founders must possess a deep understanding of their business and the landscape. The age of hypergrowth without fundamentals is gone. Today, smart founders should recalibrate and rethink their business models, reset expectations, and prioritize sustainable growth.
Product Market Fit : The First Filter
When asked whether growth or profitability matters more, Abraham is firm: “Neither , unless you have product market fit.” He explains that without a validated product that customers are willing to pay for at a sustainable margin, debates about growth or profit are premature. “Profitability is attractive, but growth with no product,market fit is meaningless. PMF comes first.”
Adapting Mindsets : The Toughest Hurdle
One common mistake? Founders not adjusting to new realities.
“Many founders last raised funds when capital was abundant. They don’t realize how much the market has changed,” Abraham observes. The challenge, he says, isn’t just strategic ; it’s psychological. “Changing mindsets is the hardest part. Some adapt quickly. Some don’t.”
But it’s adaptability that ultimately defines survivability. “It’s part of the venture capital game,” Abraham adds.
Redefining Smart Capital
Skystar Capital’s investment thesis hasn’t changed, they’re still looking for passionate founders solving meaningful problems with technology. But they are recalibrating expectations.
“In the past, we pushed for market share. Now, we encourage our companies to consider profitability much earlier,” Abraham explains. “Even at the seed or Series A stage, a plan for profitability is necessary.”
What’s next for Skystar? “We’re actively investing in AI and sustainability, related companies,” he shares. “The team is focused on securing high-impact partnerships in these targeted areas.” And the biggest catalyst ahead? Artificial Intelligence.
“AI will change how we do business. It’s already impacting how we work, learn, and make decisions. We, the tech industry, must lead Indonesia into this future. ”
A Time to Build with Purpose
Transition times test founders,nbut also reward those who are willing to adapt and think long term.
“This is not the time to retreat. It’s the time to recalibrate,” Abraham concludes. “With the right mindset and support, startups can thrive ; and create real, lasting impact.”
Skystar Capital is actively partnering with early-stage startups in AI, sustainability, and other transformative sectors. We are committed to building lasting impact through meaningful collaboration.
If you’re a founder with a clear mission, resilient mindset, and a bold vision to solve real-world problems, we’d love to hear from you.
Submit your proposal at skystar.vc/proposal rr reach out directly via email submission@skystarcapital.com
