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BCA seeks to develop eight startups

28 March 2019 06:50 AM  Company: PT. Bank Central Asia Tbk[BBCA]
Rp. 26,900  +1000 (3.86%)

JAKARTA. Bank Central Asia (BCA) is partnering Google Developers Launchpad to develop a startup accelerator programme called Synergy, which will consist of eight startups in the first batch. In this programme BCA is also teaming up with Digitaraya, BCA's venture capital subsidiary Central Capital Ventura, and KUMPUL as a community management and coworking space partner.

BCA Executive VP Jayaprawira Diah said Indonesia's population of 270 million people and the mobile penetration phenomenon of over 100% in the country were the reasons BCA sought to get involved in the fintech ecosystem.

"We are thinking how we can be competitive through collaboration, acceleration, and infinite. It means we have to provide opportunities for startups to develop themselves because at the end of the programme we will introduce them to investors from BCA or our subsidiaries to see any possible partnership," said Mr Diah at the launch of Synergy in Jakarta, Wednesday (27/3).

Mr Diah said the first batch would be opened this year and consist of eight startups with a three-month period. In the first month the startups will go through diagnostic, leader's lab, and design sprint stages, followed by mitigation of how to create a successful partnership with a legal consultation agenda and product mentorship in the second month.

"In the third month we will ensure that those startups have an impact. After three months they will pitch their ideas, then how to face the media and how to make a brief but influential presentation. And lastly, there will be a preview day and demo day," said Mr Diah.

BCA President Director Jahja Setiaatmadja said fintech cannot be opposed and should be partnered in order to survive in the digital era. (AM/MS)

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PT. Bank Central Asia Tbk [BBCA]   Rp. 26,900   +1000 (3.86%)