Mandiri Capital Indonesia (MCI), a corporate venture capital company supported by Indonesia’s largest financial institution, PT Bank Mandiri (Persero) tbk. held its first Xponent program in Bangkok.
The event is titled Money 20/20 Asia is a global event for the digital ecosystem that brings together industry leaders and influential startups from various parts of the world. In line with MCI’s vision for being global Xponent’s presence at Money 20/20 on 23 – 25 April 2024 marks MCI’s strategic step to integrate startups and global enterprises into the group’s self-sustaining ecosystem.
In his statement, Ronald Simorangkir, Chief Executive Officer of Mandiri Capital Indonesia emphasized the collaborative approach taken by MCI “We focus on identifying the needs of Bank Mandiri’s business units and strive to provide value proposition which is in line with Mandiri Group’s strategic objectives. Through the Money 20/20 event we hope to find out startup which has innovative solutions and new breakthroughs,” he said.
Strengthening its position as a strategic investor, MCI has launched the XYZ program which includes several initiatives, among others Xponent namely helping startup expansion by facilitating market access and strengthening business alignment between startups and Bank Mandiri business units. This program, said Ronald, has involved 95 startups in 3 batches, signed 12 MoUs, and involved 25 business units within Bank Mandiri and its subsidiaries.
Apart from that, Xchange is conducting comparative studies by visiting international innovation labs. And Y-Axis is building a network platform for startups with investors, technology communities, state-owned companies and corporations.
At the Money 20/20 Asia event, MCI collaborated with nine portfolio startups and Zenith finalists to introduce their products and convey their business ideas. The nine startups are Mekari, KoinWorks, AyoConnect, Delos, iSeller, Kecilin, Fishlog, Imajin, and AI Rudder.
“MCI’s presence at Money 20/20 Asia is an important moment in our journey towards regional and global expansion. providing a positive business impact for Bank Mandiri while building the Indonesian startup ecosystem,” said Dennis Pratistha, Chief Investment Officer of Mandiri Capital Indonesia. (RO/M-3)
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