News & Announcements

MDEC Signifies a New Stage for Indonesia-Malaysia Digital Partnership

June 3, 2016

Attracting Investors from Both Countries to Expand Opportunities in ICT Industry.

Jakarta, June 3, 2016 – The Malaysia Digital Economy Corporation (MDEC), the Malaysian government agency responsible for developing the national information and communications technology (ICT) industry, today announces its strategic partnership with Kejora, Indonesia’s leading company-building Venture Capital firm. The collaboration was formally signed to facilitate business expansion opportunities for a mutually beneficial and synergetic relationship between companies under the portfolio of each party.

“MDEC is committed to driving this synergistic approach to connect MDEC’s digital economy leadership in the areas of market access and IP creation with KEJORA’s expertise in Indonesia’s funding ecosystem,” said MDEC CEO Dato’ Yasmin Mahmood.

She explained that MDEC will provide Kejora and its affiliated companies access to potential Malaysian clients and venture capital network; a soft landing platform in Malaysia; and support over insights on financial resources, strategic partners, and business models refinement. In return, Kejora will provide similar support for MDEC in Indonesia.

Founding partner of Kejora Group Andy Zain said: “This is an opportunity for both parties to learn from each other. We are delighted with the partnership, as it allows us to continue building and investing in technology start-ups – creating a tech eco-system of venture builders, investors, incubators, event space, and co-working space. We look forward to further contributing in the national’s digital roadmap.”

MDEC Signifies a New Stage for Indonesia-Malaysia Digital Partnership

Capital Needs for Start-Ups

Indonesia’s e-commerce sector has seen remarkable growth over the years, yet the protracted capital problems are still identical. According to the Investment Coordinating Board (BKPM), investment realization in the e-commerce industry has dropped significantly for the past two years. The Indonesian government swiftly responded by issuing Presidential Decree No. 44/2016 on the Negative Investment List to attract more Foreign Direct Investments (FDI) in the sector. Both MDEC and KEJORA hope this agreement will expedite the development of start-ups in Indonesia.

Today also marked MDEC’s instrumental role in facilitating three alliances between Malaysian and Indonesian tech companies, signified by a ceremony of document exchanges that outline their intention to collaborate. The alliances are between:

1. PT Sigma Cipta Ceraka or Telkom Sigma and TriAset Sdn Bhd The parties is looking at the possibilities of collaborating closely in improving the localisation of TriAset’s latest web based treasury solution.

2. Jocom and Lojai.com The MoU is for the acquisition of shares in Lojai by Jocom for a foothold into Indonesia by creating a portal that combines both online web based browser and mobile commerce

3. IFCA Property365 Indonesia & PT. Sindeli Propertindo Abadi  PT. Sindeli Propertindo Abadi is exploring the possibility of investing in IFCA software to implement IFCA real estate business solution for PT Sindeli’s mixed used development located in Pasar Rebo, East Jakarta.

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About Kejora
Kejora is a venture capital that invests and guides passionate founders in building successful and sustainable tech companies. Providing entrepreneurs with the right network of strategic partners and resources, Kejora enables startups to scale in a rapid pace throughout Indonesia and Southeast Asia.

Kejora was founded in the end of 2013 by founding partners, Sebastian Togelang and Andy Zain. In January 2016, Eri Reksoprodjo joined Kejora as a partner. Using their deep knowledge combined with vast network in the digital industry and a hands-on approach of investing, Kejora worked with tech startup founders to grow and scale the startup. Knowing that a strong ecosystem is necessary to help entrepreneurs to success, Kejora partnered Founder Institute to run the Founder Institute Jakarta chapter and with Indosat Ooredoo and Moutain Partners AG to establish Ideabox program, an award winning accelerator program.

Since its establishment, Kejora has been targeting and investing in early stage companies in Indonesia and Southeast Asia. Today, in just 2.5 years after its inception, Kejora have launched 27 tech companies, run a 4,000 m2 co-working space, and created more than 1,000 jobs, and still growing in our portfolio.

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For media enquiries, please contact:
Zalinda Zainon
General Manager
Corporate Communications Division, MDEC
Telephone : +603 8315 3329 
Email : zalinda.zainon@mdec.com.my

Andreas Surya
Principal
Kejora Group
Telephone : +62 811 1990 981
Email : andreas.surya@kejorahq.com